조사회사 : MarketsandMarkets (마켓츠앤마켓츠) 출판년월 : 2024년07월
VCSEL Market – Global Forecast to 2029
VCSEL 시장 – 유형 (단일 모드, 다중 모드), 재질 (갈륨 비소, 인화 인듐), 데이터 속도 (최대 10Gbps, 10.1-25Gbps, 25Gbps 이상), 파장 [적색, 근적외선 (NIR), 단파 적외선 (SWIR) )], 지역별 – 2029년까지의 세계 예측
VCSEL Market by Type (Single-mode, Multimode), Material (Gallium Arsenide, Indium Phosphide), Data Rate (Up to 10 Gbps, 10.1 to 25 Gbps, Above 25 Gbps), Wavelength (Red, Near-Infrared (NIR), Shortwave Infrared (SWIR)) & Region – Global Forecast to 2029
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Report Overview
The VCSEL market is projected to grow from USD 1.3 billion in 2024 and is estimated to reach USD 1.9 billion by 2029; it is expected to grow at a CAGR of 8.1% from 2024 to 2029.
VCSEL 시장은 2024년 13억 달러에서 성장할 것으로 예상되며, 2029년까지 19억 달러에 이를 것으로 추정된다. 2024년부터 2029년까지 8.1%의 CAGR로 성장할 것으로 예상됩니다.
The growth of VCSEL market is driven by expanding use of facial recognition and biometric security systems. VCSELs helps to achieve high-resolution depth-sensing supporting accurate facial recognition in biometric systems. High-security environments such as airports, passport offices, and government buildings are implementing facial recognition systems for biometric authentications, which heavily relies on VCSEL, thus driving the market growth. Adding to this, the rise in adoption of 3D sensing applications in smartphones, and increase in application of VCSELs in data communication are some of the promising growth factors fueling the VCSEL market growth.
“The shortwave infrared (SWIR) segment is projected to record the highest CAGR during the forecast period.”
The market for shortwave infrared VCSEL is projected to grow at a high rate during the forecast period. Shortwave infrared (SWIR) VCSELs are increasingly gaining traction in various high-tech applications due to their superior performance and versatility. SWIR VCSELs operate in the spectral range, which is highly beneficial for applications requiring enhanced sensitivity and resolution. SWIR VCSELs are increasingly utilized in environmental monitoring, spectroscopy, and medical diagnostics due to their superior penetration and minimal interference from ambient light. Companies are emphasizing joint product development of SWIR VCSELs to stay competitive. In April 2024, VERTILAS GmbH (Germany) and TriEye Ltd. (Israel) partnered to develop a 1.3-μm VCSEL-powered SWIR sensing system. Through this partnership, the companies have integrated TriEye’s cost-effective SWIR sensors, fabricated using silicon CMOS processing, with VERTILAS GmbH’s VCSEL arrays, which operate at longer wavelengths enabled by indium phosphide (InP) material. The new solution is targeted to cater to the growing demand for SWIR VCSELS FROM the automotive, consumer, biometrics, and mobile robots markets.
“Emerging & other applications segment of the VCSEL market to witness highest growth during the forecast period.”
The market for VCSELs for emerging & other applications is expected to grow at the high CAGR during the forecast period. This growth is driven by the increasing use of VCSELs in automotive applications. VCSELs are pivotal in automotive applications, particularly advanced driver assistance systems (ADAS) and autonomous vehicles. They enable high-resolution 3D sensing and LiDAR systems essential for enhancing vehicle safety and navigation. As automotive manufacturers continue to prioritize safety and automation, the demand for VCSEL-based solutions is expected to surge. In September 2023, TRUMPF (Germany) and KDPOF (Spain) introduced a groundbreaking 980 nm multi-gigabit interconnect system designed specifically for automotive applications. This system utilizes VCSEL technology to achieve high-speed for data-transmission of up to 10 Gbps. By leveraging 980 nm wavelength VCSELs, the solution aims to enhance robustness and longevity, crucial for automotive environments. The partnership between TRUMPF and KDPOF aims to establish a new standard in optical data communication within automotive systems, with the ultimate goal of launching an integrated transceiver for multi-gigabit optical communications. This initiative underscores the growing adoption of VCSELs in automotive applications, driven by the demand for high-speed, reliable data transmission solutions in vehicles.
“North America to hold a major market share of the VCSEL market during the forecast period” North America is projected to hold the largest share of the VCSEL market during the forecast period. North America is home to various leading VCSEL manufacturers, including Lumentum Operations LLC (US), Coherent Corp. (US), and Broadcom (US). The high demand for VCSELs is generated in this region owing to the increased adoption of smartphones, smart home devices, and autonomous vehicles. The presence of major consumer technology companies such as Apple Inc. (US), Google (US), and Microsoft (US) boosts the adoption of VCSEL in their devices. For instance, Apple Inc. (US) has been at the forefront of adopting VCSELs in their smartphones for advanced facial recognition and gesture sensing technologies, highlighting its widespread adoption in consumer electronics. This extensive integration of VCSEL technology by leading tech giants exemplifies North America’s capacity for rapid technological adoption and innovation, reinforcing its dominant market position.
Extensive primary interviews were conducted with key industry experts in the VCSEL market to determine and verify the market size for various segments and subsegments gathered through secondary research. The break-up of primary participants for the report has been shown below:
The break-up of the profile of primary participants in the VCSEL market:
- By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Tier 3 – 20%
- By Designation: C-level – 20%, Director Level – 30%, Others-50%
- By Region: North America – 30%, Europe – 20%, Asia Pacific – 40%, ROW- 10%
The report profiles key players in the VCSEL market with their respective market ranking analysis. Prominent players profiled in this report are Coherent Corp. (US), Lumentum Operations LLC (US), ams-OSRAM AG (Austria), TRUMPF (Germany), Broadcom (US), MKS Instruments (US), Santec Holdings Corporation (Japan), Leonardo Electronics US, Inc. (US), VERTILAS GmbH (Germany), and Vertilite (China). Apart from this, Sony Semiconductor Solutions Corporation (Japan), Alight Technologies (Denmark), Teledyne FLIR LLC (US), Inneos LLC (US), IQE PLC (UK), Thorlabs, Inc. (US), TT Electronics (UK), Ushio America, Inc. (US), WIN Semiconductors (Taiwan), Frankfurt Laser Company (Germany), Inphenix, Inc. (US), Bandwidth10 (US), Zhejiang RaySea Technology Co., Ltd. (China), Wuhan Qianmu Laser Co., Ltd. (China), OCTLIGHT (Denmark), Sanan IC (China), and Brightlaser Ltd. (Hong Kong) are among a few emerging companies in the VCSEL market.
Research Coverage: This research report categorizes the VCSEL market on the basis of type, wavelength, material, application, data rate, vertical, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the VCSEL market and forecasts the same till 2029. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the VCSEL ecosystem.
Key Benefits of Buying the Report The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall VCSEL market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (rise in adoption of 3D sensing applications in smartphones, higher market investment for VCSEL manufacturing, increase in application of VCSELs in data communication, and expanding use of facial recognition and biometric security systems), retsraints (limited data transmission range, and limitations of semiconductor materials hampering performance), opportunities (use in LiDAR systems for automotive applications, growth in IoT market and data processing across commercial and government sectors, higher adoption of VCSELs in consumer electronic devices, and rise in adoption of VCSEL into medical imaging and biomedical sensing applications), and challenges (manufacturing defects in epitaxial layers, and managing intellectual property rights and patent issues) influencing the growth of the VCSEL market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the VCSEL market.
- Market Development: Comprehensive information about lucrative markets – the report analysis the VCSEL market across various regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the VCSEL market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like Coherent Corp. (US), Lumentum Operations LLC (US), ams-OSRAM AG (Austria), TRUMPF (Germany), Broadcom (US), among others in the VCSEL market.
Table of Contents
1 INTRODUCTION 28
1.1 STUDY OBJECTIVES 28
1.2 MARKET DEFINITION 28
1.2.1 MARKETS COVERED 29
1.2.2 INCLUSIONS AND EXCLUSIONS 29
1.2.3 REGIONAL SCOPE 30
1.2.4 YEARS CONSIDERED 31
1.3 UNITS CONSIDERED 31
1.3.1 CURRENCY UNIT 31
1.3.2 VOLUME UNIT 31
1.4 LIMITATIONS 32
1.5 STAKEHOLDERS 32
1.6 SUMMARY OF CHANGES 32
1.7 RECESSION IMPACT 33
1.8 GDP GROWTH PROJECTIONS FOR LARGE ECONOMIES UNTIL 2024 34
2 RESEARCH METHODOLOGY 35
2.1 RESEARCH DATA 35
2.1.1 SECONDARY DATA 36
2.1.1.1 List of key secondary sources 37
2.1.1.2 Key data from secondary sources 37
2.1.2 PRIMARY DATA 37
2.1.2.1 List of primary interview participants 38
2.1.2.2 Breakdown of primaries 38
2.1.2.3 Key data from primary sources 39
2.1.2.4 Key industry insights 40
2.1.3 SECONDARY AND PRIMARY RESEARCH 41
2.2 MARKET SIZE ESTIMATION 42
2.2.1 BOTTOM-UP APPROACH 44
2.2.1.1 Approach to arrive at market size using bottom-up analysis
(demand side) 45
2.2.2 TOP-DOWN APPROACH 45
2.2.2.1 Approach to arrive at market size using top-down analysis
(supply side) 46
2.3 DATA TRIANGULATION 46
2.4 RESEARCH ASSUMPTIONS 47
2.5 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON VCSEL MARKET 48
2.6 RISK ASSESSMENT 48
2.7 RESEARCH LIMITATIONS 49
3 EXECUTIVE SUMMARY 50
4 PREMIUM INSIGHTS 56
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN VCSEL MARKET 56
4.2 VCSEL MARKET, BY WAVELENGTH AND MATERIAL 56
4.3 VCSEL MARKET, BY TYPE 57
4.4 VCSEL MARKET, BY APPLICATION 57
4.5 VCSEL MARKET, BY DATA RATE 58
4.6 VCSEL MARKET, BY VERTICAL 58
4.7 VCSEL MARKET, BY REGION 59
4.8 VCSEL MARKET, BY KEY COUNTRY 59
5 MARKET OVERVIEW 60
5.1 INTRODUCTION 60
5.2 MARKET DYNAMICS 60
5.2.1 DRIVERS 61
5.2.1.1 Rise in adoption of 3D sensing applications in smartphones 61
5.2.1.2 Increase in application of VCSELs in data communication 61
5.2.1.3 Higher market investment for VCSEL manufacturing 62
5.2.1.4 Expanding use of facial recognition and biometric security systems 62
5.2.2 RESTRAINTS 63
5.2.2.1 Limited data transmission range 63
5.2.2.2 Limitations of semiconductor materials hampering performance 64
5.2.3 OPPORTUNITIES 65
5.2.3.1 Use in LiDAR systems for automotive applications 65
5.2.3.2 Growth in IoT market and data processing across commercial and government sectors 65
5.2.3.3 Higher adoption of VCSELs in consumer electronic devices 65
5.2.3.4 Rise in adoption of VCSEL into medical imaging and biomedical sensing applications 66
5.2.4 CHALLENGES 67
5.2.4.1 Manufacturing defects in epitaxial layers 67
5.2.4.2 Managing intellectual property rights and patent issues 68
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 69
5.4 PRICING ANALYSIS 70
5.4.1 PRICING ANALYSIS OF CONSUMER ELECTRONICS INDUSTRY, BY KEY PLAYERS, 2023 70
5.4.2 AVERAGE SELLING PRICE TREND, BY REGION 71
5.5 VALUE CHAIN ANALYSIS 72
5.6 ECOSYSTEM ANALYSIS 73
5.7 INVESTMENT AND FUNDING SCENARIO 76
5.8 TECHNOLOGY ANALYSIS 76
5.8.1 KEY TECHNOLOGIES 76
5.8.1.1 3D Camera 76
5.8.1.2 LiDAR 76
5.8.1.3 Backside Emitting VCSEL 77
5.8.1.4 Zonal Illumination 77
5.8.1.5 Polarization Multiplexing 78
5.8.2 COMPLEMENTARY TECHNOLOGIES 78
5.8.2.1 Augmented Reality (AR) and Virtual Reality (VR) 78
5.8.2.2 Biometric Systems 78
5.8.3 ADJACENT TECHNOLOGIES 79
5.8.3.1 Edge Emitting Lasers (EELs) 79
5.8.3.2 Silicon Photonics 79
5.9 PATENT ANALYSIS 80
5.9.1 KEY PATENTS 82
5.10 TRADE ANALYSIS 86
5.10.1 IMPORT SCENARIO 86
5.10.2 EXPORT SCENARIO 88
5.11 KEY CONFERENCES AND EVENTS 89
5.12 CASE STUDY ANALYSIS 91
5.12.1 TRUMPF EMPOWERED SICK AG’S SPEETEC SENSORS WITH VCSEL DIODES FOR MODERN PRODUCTION NEEDS 91
5.12.2 TRUMPF AND BOSCH SENSORTEC COLLABORATED TO DEVELOP ADVANCED VCSEL-POWERED FINE DUST DETECTION SOLUTION 92
5.12.3 AMS-OSRAM AG’S LOW-POWER IR VCSEL LASER ENABLED FACE RECOGNITION IN XIAOMI MI8 EXPLORER EDITION 93
5.13 STANDARDS AND REGULATORY LANDSCAPE 94
5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 94
5.13.2 REGULATORY STANDARDS 96
5.13.2.1 European Union (EU) Directives 96
5.13.2.2 AS9100D/ISO 9001 96
5.13.2.3 IATF 16949: Quality Management System for Automotive Industry 97
5.13.2.4 ISO 14001: Environmental Management System (EMS) Standard 97
5.13.2.5 IEC 60335 series 97
5.13.2.6 Import-Export Laws 97
5.13.3 GOVERNMENT REGULATIONS 97
5.13.3.1 US 97
5.13.3.2 Europe 98
5.13.3.3 China 98
5.13.3.4 Japan 98
5.14 PORTER’S FIVE FORCES ANALYSIS 99
5.14.1 INTENSITY OF COMPETITIVE RIVALRY 100
5.14.2 BARGAINING POWER OF SUPPLIERS 100
5.14.3 BARGAINING POWER OF BUYERS 100
5.14.4 THREAT OF SUBSTITUTES 101
5.14.5 THREAT OF NEW ENTRANTS 101
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 102
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 102
5.15.2 BUYING CRITERIA 103
6 VCSEL FABRICATION METHODS 104
6.1 INTRODUCTION 104
6.2 SELECTIVE OXIDIZATION 104
6.3 ION IMPLANTATION 104
7 APPLICATIONS OF VCSEL TECHNOLOGY IN SMARTPHONES 106
7.1 INTRODUCTION 106
7.2 DOT PROJECTOR 106
7.3 TIME-OF-FLIGHT (TOF) 107
7.3.1 PROXIMITY SENSING 107
7.4 FLOOD ILLUMINATOR 107
8 VCSEL MARKET, BY TYPE 108
8.1 INTRODUCTION 109
8.2 SINGLE-MODE 111
8.2.1 MINIMAL LATENCY AND LONG-RANGE COMMUNICATION REQUIREMENTS OFFERED BY SINGLE-MODE VCSELS WITHIN DATA CENTER OPERATIONS 111
8.3 MULTIMODE 112
8.3.1 INCREASE IN ADOPTION OF MULTIMODE VCSELS IN HIGH POWER APPLICATIONS 112
9 VCSEL MARKET, BY WAVELENGTH 115
9.1 INTRODUCTION 116
9.2 RED 117
9.2.1 ENHANCED SCANNING AND TRACKING CAPABILITIES HELPFUL IN PRINTING AND IMAGING TECHNOLOGIES 117
9.3 NEAR-INFRARED (NIR) 118
9.3.1 RISE IN DEMAND FOR NEAR-INFRARED VCSELS IN ADAS 118
9.4 SHORTWAVE INFRARED (SWIR) 119
9.4.1 FOCUS ON HIGH-VOLUME MANUFACTURE OF SWIR VCSELS TO MEET DEMAND IN SMARTPHONE APPLICATIONS 119
10 VCSEL MARKET, BY MATERIAL 120
10.1 INTRODUCTION 121
10.2 GALLIUM ARSENIDE (GAAS) 122
10.2.1 HIGH PERFORMANCE AND THERMAL CONDUCTIVITY OFFERED BY GAAS MATERIAL 122
10.3 INDIUM PHOSPHIDE (INP) 123
10.3.1 RISE IN ADOPTION OF INP VCSELS FOR HIGH-SPEED OPTICAL COMMUNICATIONS AND DATA CENTERS 123
10.4 OTHER MATERIALS 124
11 VCSEL MARKET, BY APPLICATION 126
11.1 INTRODUCTION 127
11.2 SENSING 128
11.2.1 3D SENSING 129
11.2.1.1 ToF Camera 129
11.2.1.1.1 Proximity Sensing 129
11.2.1.1.1.1 Increase in adoption of proximity sensors in smartphones 129
11.2.1.2 Structured light illumination 130
11.2.1.2.1 Increase in adoption of facial recognition technologies in smart devices 130
11.2.1.3 Facial & gesture recognition 130
11.2.1.3.1 Increase in adoption of biometric technologies in smart devices 130
11.2.2 GAS SENSING 130
11.2.2.1 Adoption of single-mode VCSELs for gas sensing in industrial environment 130
11.2.3 OPTICAL MICE 131
11.2.3.1 Advancements in VCSEL technology in optical mice aimed at enhanced precision and efficiency 131
11.3 DATA COMMUNICATION 131
11.3.1 OPTICAL TRANSCEIVERS & ACTIVE OPTICAL CABLES 131
11.3.1.1 Demand for high-data-rate optical components in data centers 131
11.4 INDUSTRIAL HEATING AND LASER PRINTING 132
11.4.1 ADDITIVE MANUFACTURING 132
11.4.1.1 Implementation of VCSEL heating to reduce thermal gradient in additive manufacturing 132
11.4.2 LASER PRINTING 133
11.4.2.1 Enhanced precision and higher resolution outputs offered 133
11.5 EMERGING & OTHER APPLICATIONS 133
11.5.1 LIDAR 133
11.5.1.1 Developments in autonomous vehicles to create opportunities for applications of VCSELs in automotive LiDAR 133
11.5.2 IN-CABIN SENSING 134
11.5.2.1 Innovations in vehicle infotainment systems 134
11.5.3 ATOMIC CLOCK & GPS 134
11.5.3.1 Preference for compact and low-cost solutions for use in atomic clocks 134
11.5.4 MAGNETOMETER 134
11.5.4.1 Highly accurate detection of magnetic fields made possible with use of VCSEL-based magnetometers 134
11.5.5 INFRARED ILLUMINATION FOR SURVEILLANCE 135
11.5.5.1 Demand for improved performance and visibility in security and surveillance applications to fuel adoption of VCSELs 135
11.5.6 PULSE OXIMETRY 135
11.5.6.1 Rise in demand for VCSELs in pulse oximetry driven by critical healthcare needs 135
12 VCSEL MARKET, BY DATA RATE 136
12.1 INTRODUCTION 137
12.2 UP TO 10 GBPS 138
12.2.1 GROWTH IN DEMAND FOR UP TO 10 GBPS VCSELS IN SHORT-RANGE DATA COMMUNICATION APPLICATIONS 138
12.3 10.1 TO 25 GBPS 139
12.3.1 HIGH-SPEED DATA DEMANDS DRIVE GROWTH OF 10.1 TO 25 GBPS VCSEL MARKET ACROSS DATA CENTERS AND 5G NETWORKS 139
12.4 ABOVE 25 GBPS 140
12.4.1 CRUCIAL FOR APPLICATIONS DEMANDING HIGHEST DATA RATES, SUCH AS HYPERSCALE DATA CENTERS AND 5G BACKHAUL 140
13 VCSEL MARKET, BY VERTICAL 142
13.1 INTRODUCTION 143
13.2 CONSUMER ELECTRONICS 145
13.2.1 RISE IN DEMAND FOR ENHANCED SECURITY AND USER EXPERIENCE INCLUDING FACIAL AND GESTURE RECOGNITION 145
13.3 DATA CENTER 149
13.3.1 INCREASE IN DATA BANDWIDTH IN DATA CENTERS TO DRIVE DEMAND FOR VCSELS 149
13.4 AUTOMOTIVE 153
13.4.1 GROWTH IN ADOPTION OF VCSELS IN AUTOMOTIVE LIDAR 153
13.5 COMMERCIAL & INDUSTRIAL 156
13.5.1 ESPOUSAL OF VCSELS ACROSS VARIOUS INDUSTRIAL APPLICATIONS INVOLVING DIFFERENT THERMAL PROCESSES 156
13.6 HEALTHCARE 160
13.6.1 HIGH ADOPTION IN SCANNING AND IMAGING APPLICATIONS ACROSS HEALTHCARE INDUSTRY 160
13.7 MILITARY 163
13.7.1 HIGHER DEMAND FOR VCSELS IN MODERN MILITARY OPERATIONS 163
14 VCSEL MARKET, BY REGION 167
14.1 INTRODUCTION 168
14.2 NORTH AMERICA 170
14.2.1 NORTH AMERICA: RECESSION IMPACT ON VCSEL MARKET 170
14.2.2 US 174
14.2.2.1 Proliferation of smartphones in US 174
14.2.3 CANADA 175
14.2.3.1 Rise in investment in data center infrastructure development in Canada 175
14.2.4 MEXICO 175
14.2.4.1 Increase in adoption of VCSELs in automobile, aerospace, and consumer electronics in Mexico 175
14.3 EUROPE 176
14.3.1 EUROPE: RECESSION IMPACT ON VCSEL MARKET 176
14.3.2 UK 181
14.3.2.1 Notable presence of large-scale telecom service providers in UK 181
14.3.3 GERMANY 182
14.3.3.1 Flourishing automotive manufacturing industry in Germany 182
14.3.4 FRANCE 182
14.3.4.1 Expansion of telecom infrastructure in France 182
14.3.5 REST OF EUROPE 183
14.4 ASIA PACIFIC 184
14.4.1 ASIA PACIFIC: RECESSION IMPACT ON VCSEL MARKET 184
14.4.2 CHINA 189
14.4.2.1 Presence of large smartphone manufacturers in China 189
14.4.3 JAPAN 190
14.4.3.1 Booming automotive and industrial sectors in Japan 190
14.4.4 SOUTH KOREA 190
14.4.4.1 Demand from technologically advanced consumer electronics and telecom industries in South Korea 190
14.4.5 REST OF ASIA PACIFIC 191
14.5 REST OF THE WORLD (ROW) 191
14.5.1 ROW: RECESSION IMPACT ON VCSEL MARKET 192
14.5.2 MIDDLE EAST 195
14.5.2.1 Increase in defense spending in Middle East 195
14.5.2.2 GCC Countries 195
14.5.2.2.1 Rise in healthcare investments in GCC Countries 195
14.5.2.3 Rest of Middle East 196
14.5.3 AFRICA 196
14.5.3.1 Expansion of mobile technology in Africa 196
14.5.4 SOUTH AMERICA 196
14.5.4.1 Expansion of data centers in South America 196
15 COMPETITIVE LANDSCAPE 197
15.1 OVERVIEW 197
15.2 KEY STRENGTHS/RIGHT TO WIN 197
15.3 REVENUE ANALYSIS 200
15.4 MARKET SHARE ANALYSIS 201
15.5 COMPANY VALUATION AND FINANCIAL METRICS 205
15.6 BRAND/PRODUCT COMPARISON 206
15.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 207
15.7.1 STARS 207
15.7.2 EMERGING LEADERS 207
15.7.3 PERVASIVE PLAYERS 207
15.7.4 PARTICIPANTS 207
15.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 209
15.7.5.1 Company footprint 209
15.7.5.2 Type footprint 210
15.7.5.3 Wavelength footprint 211
15.7.5.4 Material footprint 212
15.7.5.5 Application footprint 213
15.7.5.6 Data rate footprint 214
15.7.5.7 Vertical footprint 215
15.7.5.8 Region footprint 216
15.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 217
15.8.1 PROGRESSIVE COMPANIES 217
15.8.2 RESPONSIVE COMPANIES 217
15.8.3 DYNAMIC COMPANIES 217
15.8.4 STARTING BLOCKS 217
15.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 219
15.8.5.1 List of key startups/SMEs 219
15.8.5.2 Competitive benchmarking of key startups/SMEs 220
15.9 COMPETITIVE SCENARIOS AND TRENDS 222
15.9.1 PRODUCT LAUNCHES 222
15.9.2 DEALS 228
16 COMPANY PROFILES 233
16.1 KEY PLAYERS 233
16.1.1 COHERENT CORP. 233
16.1.1.1 Business overview 233
16.1.1.2 Products/Services/Solutions offered 234
16.1.1.3 Recent developments 235
16.1.1.3.1 Product launches 235
16.1.1.3.2 Deals 237
16.1.1.4 MnM view 238
16.1.1.4.1 Key strengths 238
16.1.1.4.2 Strategic choices 238
16.1.1.4.3 Weaknesses and competitive threats 239
16.1.2 LUMENTUM OPERATIONS LLC 240
16.1.2.1 Business overview 240
16.1.2.2 Products/Services/Solutions offered 241
16.1.2.3 Recent developments 242
16.1.2.3.1 Product launches 242
16.1.2.3.2 Deals 242
16.1.2.4 MnM view 243
16.1.2.4.1 Key strengths 243
16.1.2.4.2 Strategic choices 243
16.1.2.4.3 Weaknesses and competitive threats 244
16.1.3 AMS-OSRAM AG 245
16.1.3.1 Business overview 245
16.1.3.2 Products/Services/Solutions offered 246
16.1.3.3 Recent developments 248
16.1.3.3.1 Product launches 248
16.1.3.3.2 Deals 249
16.1.3.4 MnM view 249
16.1.3.4.1 Key strengths 249
16.1.3.4.2 Strategic choices 250
16.1.3.4.3 Weaknesses and competitive threats 250
16.1.4 TRUMPF 251
16.1.4.1 Business overview 251
16.1.4.2 Products/Services/Solutions offered 252
16.1.4.3 Recent developments 254
16.1.4.3.1 Product launches 254
16.1.4.3.2 Deals 256
16.1.4.3.3 Expansions 257
16.1.4.4 MnM view 257
16.1.4.4.1 Key strengths 257
16.1.4.4.2 Strategic choices 257
16.1.4.4.3 Weaknesses and competitive threats 257
16.1.5 BROADCOM 258
16.1.5.1 Business overview 258
16.1.5.2 Products/Services/Solutions offered 259
16.1.5.3 Recent developments 261
16.1.5.3.1 Product launches 261
16.1.5.3.2 Deals 261
16.1.5.4 MnM view 262
16.1.5.4.1 Key strengths 262
16.1.5.4.2 Strategic choices 262
16.1.5.4.3 Weaknesses and competitive threats 262
16.1.6 MKS INSTRUMENTS 263
16.1.6.1 Business overview 263
16.1.6.2 Products/Services/Solutions offered 264
16.1.6.3 Recent developments 265
16.1.6.3.1 Product launches 265
16.1.6.3.2 Deals 265
16.1.7 SANTEC HOLDINGS CORPORATION 266
16.1.7.1 Business overview 266
16.1.7.2 Products/Services/Solutions offered 267
16.1.7.3 Recent developments 268
16.1.7.3.1 Product launches 268
16.1.7.3.2 Deals 268
16.1.8 LEONARDO ELECTRONICS US INC. 269
16.1.8.1 Business overview 269
16.1.8.2 Products/Services/Solutions offered 269
16.1.8.3 Recent developments 270
16.1.8.3.1 Product launches 270
16.1.8.3.2 Deals 270
16.1.9 VERTILAS GMBH 271
16.1.9.1 Business overview 271
16.1.9.2 Products/Services/Solutions offered 271
16.1.10 VERTILITE 273
16.1.10.1 Business overview 273
16.1.10.2 Products/Services/Solutions offered 273
16.1.10.3 Recent developments 274
16.1.10.3.1 Deals 274
16.2 OTHER PLAYERS 275
16.2.1 SONY SEMICONDUCTOR SOLUTIONS CORPORATION 275
16.2.2 ALIGHT TECHNOLOGIES APS 276
16.2.3 TELEDYNE FLIR LLC 277
16.2.4 INNEOS LLC 278
16.2.5 IQE PLC 279
16.2.6 THORLABS, INC. 280
16.2.7 TT ELECTRONICS 281
16.2.8 USHIO AMERICA, INC. 282
16.2.9 WIN SEMICONDUCTORS 283
16.2.10 FRANKFURT LASER COMPANY 284
16.2.11 INPHENIX, INC. 285
16.2.12 BANDWIDTH10 286
16.2.13 ZHEJIANG RAYSEA TECHNOLOGY CO., LTD. 287
16.2.14 WUHAN QIANMU LASER CO., LTD. 287
16.2.15 OCTLIGHT 288
16.2.16 SANAN IC 289
16.2.17 BRIGHTLASER LTD. 290
17 APPENDIX 291
17.1 DISCUSSION GUIDE 291
17.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 295
17.3 CUSTOMIZATION OPTIONS 297
17.4 RELATED REPORTS 297
17.5 AUTHOR DETAILS 298
LIST OF TABLES
TABLE 1 STUDY INCLUSIONS AND EXCLUSIONS 29
TABLE 2 SUMMARY OF CHANGES 32
TABLE 3 LIST OF KEY SECONDARY SOURCES 37
TABLE 4 LIST OF KEY PRIMARY PARTICIPANTS 38
TABLE 5 KEY DATA FROM PRIMARY SOURCES 39
TABLE 6 RESEARCH ASSUMPTIONS 47
TABLE 7 RECESSION IMPACT 48
TABLE 8 RISK ASSESSMENT 48
TABLE 9 INDICATIVE PRICING ANALYSIS OF VCSELS, BY INDUSTRY, 2023 (USD) 70
TABLE 10 PRICING ANALYSIS OF CONSUMER ELECTRONICS INDUSTRY, BY KEY PLAYERS, 2023 (USD) 71
TABLE 11 AVERAGE SELLING PRICE TREND OF VCSEL FOR CONSUMER ELECTRONICS,
BY REGION, 2020–2023 (USD) 71
TABLE 12 VCSEL MARKET: ECOSYSTEM 74
TABLE 13 VCSEL MARKET: TOP PATENT OWNERS IN LAST 10 YEARS 81
TABLE 14 VCSEL MARKET: LIST OF KEY PATENTS 82
TABLE 15 IMPORT DATA FOR HS CODE 854140, BY COUNTRY, 2018–2022 (USD MILLION) 87
TABLE 16 EXPORT DATA FOR HS CODE 854140, BY COUNTRY, 2018–2022 (USD MILLION) 88
TABLE 17 VCSEL MARKET: DETAILED LIST OF CONFERENCES AND EVENTS, 2024–2025 89
TABLE 18 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 94
TABLE 19 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 95
TABLE 20 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 95
TABLE 21 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 96
TABLE 22 IMPACT OF PORTER’S FIVE FORCES ON VCSEL MARKET 99
TABLE 23 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS 102
TABLE 24 KEY BUYING CRITERIA FOR TOP THREE VERTICALS 103
TABLE 25 VCSEL MARKET, BY TYPE, 2020–2023 (USD MILLION) 110
TABLE 26 VCSEL MARKET, BY TYPE, 2024–2029 (USD MILLION) 110
TABLE 27 SINGLE-MODE VCSEL MARKET, BY MATERIAL, 2020–2023 (USD MILLION) 111
TABLE 28 SINGLE-MODE VCSEL MARKET, BY MATERIAL, 2024–2029 (USD MILLION) 112
TABLE 29 SINGLE-MODE VCSEL MARKET, BY WAVELENGTH, 2020–2023 (USD MILLION) 112
TABLE 30 SINGLE-MODE VCSEL MARKET, BY WAVELENGTH, 2024–2029 (USD MILLION) 112
TABLE 31 MULTIMODE VCSEL MARKET, BY MATERIAL, 2020–2023 (USD MILLION) 113
TABLE 32 MULTIMODE VCSEL MARKET, BY MATERIAL, 2024–2029 (USD MILLION) 113
TABLE 33 MULTIMODE VCSEL MARKET, BY WAVELENGTH, 2020–2023 (USD MILLION) 113
TABLE 34 MULTIMODE: VCSEL MARKET, BY WAVELENGTH, 2024–2029 (USD MILLION) 114
TABLE 35 VCSEL MARKET, BY WAVELENGTH, 2020–2023 (USD MILLION) 116
TABLE 36 VCSEL MARKET, BY WAVELENGTH, 2024–2029 (USD MILLION) 116
TABLE 37 RED VCSEL MARKET, BY TYPE, 2020–2023 (USD MILLION) 118
TABLE 38 RED VCSEL MARKET, BY TYPE, 2024–2029 (USD MILLION) 118
TABLE 39 NIR VCSEL MARKET, BY TYPE, 2020–2023 (USD MILLION) 118
TABLE 40 NIR VCSEL MARKET, BY TYPE, 2024–2029 (USD MILLION) 119
TABLE 41 SWIR VCSEL MARKET, BY TYPE, 2020–2023 (USD MILLION) 119
TABLE 42 SWIR VCSEL MARKET, BY TYPE, 2024–2029 (USD MILLION) 119
TABLE 43 VCSEL MARKET, BY MATERIAL, 2020–2023 (USD MILLION) 121
TABLE 44 VCSEL MARKET, BY MATERIAL, 2024–2029 (USD MILLION) 121
TABLE 45 GAAS-BASED VCSEL MARKET, BY TYPE, 2020–2023 (USD MILLION) 123
TABLE 46 GAAS-BASED VCSEL MARKET, BY TYPE, 2024–2029 (USD MILLION) 123
TABLE 47 INP-BASED VCSEL MARKET, BY TYPE, 2020–2023 (USD MILLION) 124
TABLE 48 INP-BASED VCSEL MARKET, BY TYPE, 2024–2029 (USD MILLION) 124
TABLE 49 OTHER MATERIAL-BASED VCSEL MARKET, BY TYPE, 2020–2023 (USD MILLION) 125
TABLE 50 OTHER MATERIAL-BASED VCSEL MARKET, BY TYPE, 2024–2029 (USD MILLION) 125
TABLE 51 VCSEL MARKET, BY APPLICATION, 2020–2023 (USD MILLION) 127
TABLE 52 VCSEL MARKET, BY APPLICATION, 2024–2029 (USD MILLION) 127
TABLE 53 VCSEL MARKET FOR DATA COMMUNICATION, BY DATA RATE,
2020–2023 (USD MILLION) 137
TABLE 54 VCSEL MARKET FOR DATA COMMUNICATION, BY DATA RATE,
2024–2029 (USD MILLION) 137
TABLE 55 VCSELS WITH DATA RATES OF UP TO 10 GBPS 139
TABLE 56 VCSELS WITH DATA RATES OF 10.1 TO 25 GBPS 140
TABLE 57 VCSELS WITH DATA RATES OF ABOVE 25 GBPS 141
TABLE 58 VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 143
TABLE 59 VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 144
TABLE 60 VCSEL MARKET, BY VERTICAL, 2020–2023 (MILLION UNITS) 144
TABLE 61 VCSEL MARKET, BY VERTICAL, 2024–2029 (MILLION UNITS) 144
TABLE 62 VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL, BY REGION,
2020–2023 (USD MILLION) 146
TABLE 63 VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL, BY REGION,
2024–2029 (USD MILLION) 146
TABLE 64 NORTH AMERICA: VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL,
BY COUNTRY, 2020–2023 (USD MILLION) 146
TABLE 65 NORTH AMERICA: VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL,
BY COUNTRY, 2024–2029 (USD MILLION) 147
TABLE 66 EUROPE: VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL, BY COUNTRY, 2020–2023 (USD MILLION) 147
TABLE 67 EUROPE: VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL, BY COUNTRY, 2024–2029 (USD MILLION) 147
TABLE 68 ASIA PACIFIC: VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL,
BY COUNTRY, 2020–2023 (USD MILLION) 148
TABLE 69 ASIA PACIFIC: VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL,
BY COUNTRY, 2024–2029 (USD MILLION) 148
TABLE 70 ROW: VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL, BY REGION,
2020–2023 (USD THOUSAND) 148
TABLE 71 ROW: VCSEL MARKET IN CONSUMER ELECTRONICS VERTICAL, BY REGION,
2024–2029 (USD THOUSAND) 149
TABLE 72 VCSEL MARKET IN DATA CENTER VERTICAL, BY REGION,
2020–2023 (USD MILLION) 150
TABLE 73 VCSEL MARKET IN DATA CENTER VERTICAL, BY REGION,
2024–2029 (USD MILLION) 150
TABLE 74 NORTH AMERICA: VCSEL MARKET IN DATA CENTER VERTICAL, BY COUNTRY, 2020–2023 (USD MILLION) 150
TABLE 75 NORTH AMERICA: VCSEL MARKET IN DATA CENTER VERTICAL, BY COUNTRY, 2024–2029 (USD MILLION) 150
TABLE 76 EUROPE: VCSEL MARKET IN DATA CENTER VERTICAL, BY COUNTRY,
2020–2023 (USD MILLION) 151
TABLE 77 EUROPE: VCSEL MARKET IN DATA CENTER VERTICAL, BY COUNTRY,
2024–2029 (USD MILLION) 151
TABLE 78 ASIA PACIFIC: VCSEL MARKET IN DATA CENTER VERTICAL, BY COUNTRY,
2020–2023 (USD MILLION) 151
TABLE 79 ASIA PACIFIC: VCSEL MARKET IN DATA CENTER VERTICAL, BY COUNTRY,
2024–2029 (USD MILLION) 152
TABLE 80 ROW: VCSEL MARKET IN DATA CENTER VERTICAL, BY REGION,
2020–2023 (USD THOUSAND) 152
TABLE 81 ROW: VCSEL MARKET IN DATA CENTER VERTICAL, BY REGION,
2024–2029 (USD THOUSAND) 152
TABLE 82 VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY REGION,
2020–2023 (USD MILLION) 153
TABLE 83 VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY REGION,
2024–2029 (USD MILLION) 153
TABLE 84 NORTH AMERICA: VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY COUNTRY,
2020–2023 (USD THOUSAND) 154
TABLE 85 NORTH AMERICA: VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY COUNTRY,
2024–2029 (USD THOUSAND) 154
TABLE 86 EUROPE: VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY COUNTRY,
2020–2023 (USD THOUSAND) 154
TABLE 87 EUROPE: VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY COUNTRY,
2024–2029 (USD THOUSAND) 155
TABLE 88 ASIA PACIFIC: VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY COUNTRY,
2020–2023 (USD THOUSAND) 155
TABLE 89 ASIA PACIFIC: VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY COUNTRY,
2024–2029 (USD THOUSAND) 155
TABLE 90 ROW: VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY REGION,
2020–2023 (USD THOUSAND) 156
TABLE 91 ROW: VCSEL MARKET IN AUTOMOTIVE VERTICAL, BY REGION,
2024–2029 (USD THOUSAND) 156
TABLE 92 VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL, BY REGION,
2020–2023 (USD MILLION) 157
TABLE 93 VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL, BY REGION,
2024–2029 (USD MILLION) 157
TABLE 94 NORTH AMERICA: VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL,
BY COUNTRY, 2020–2023 (USD MILLION) 157
TABLE 95 NORTH AMERICA: VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL,
BY COUNTRY, 2024–2029 (USD MILLION) 158
TABLE 96 EUROPE: VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL, BY COUNTRY, 2020–2023 (USD MILLION) 158
TABLE 97 EUROPE: VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL, BY COUNTRY, 2024–2029 (USD MILLION) 158
TABLE 98 ASIA PACIFIC: VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL,
BY COUNTRY, 2020–2023 (USD MILLION) 159
TABLE 99 ASIA PACIFIC: VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL,
BY COUNTRY, 2024–2029 (USD MILLION) 159
TABLE 100 ROW: VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL, BY REGION, 2020–2023 (USD THOUSAND) 159
TABLE 101 ROW: VCSEL MARKET IN COMMERCIAL & INDUSTRIAL VERTICAL, BY REGION, 2024–2029 (USD THOUSAND) 160
TABLE 102 VCSEL MARKET IN HEALTHCARE VERTICAL, BY REGION,
2020–2023 (USD MILLION) 160
TABLE 103 VCSEL MARKET IN HEALTHCARE VERTICAL, BY REGION,
2024–2029 (USD MILLION) 161
TABLE 104 NORTH AMERICA: VCSEL MARKET IN HEALTHCARE VERTICAL, BY COUNTRY,
2020–2023 (USD THOUSAND) 161
TABLE 105 NORTH AMERICA: VCSEL MARKET IN HEALTHCARE VERTICAL, BY COUNTRY,
2024–2029 (USD THOUSAND) 161
TABLE 106 EUROPE: VCSEL MARKET IN HEALTHCARE VERTICAL, BY COUNTRY,
2020–2023 (USD THOUSAND) 161
TABLE 107 EUROPE: VCSEL MARKET IN HEALTHCARE VERTICAL, BY COUNTRY,
2024–2029 (USD THOUSAND) 162
TABLE 108 ASIA PACIFIC: VCSEL MARKET IN HEALTHCARE VERTICAL, BY COUNTRY,
2020–2023 (USD THOUSAND) 162
TABLE 109 ASIA PACIFIC: VCSEL MARKET IN HEALTHCARE VERTICAL, BY COUNTRY,
2024–2029 (USD THOUSAND) 162
TABLE 110 ROW: VCSEL MARKET IN HEALTHCARE VERTICAL, BY REGION,
2020–2023 (USD THOUSAND) 163
TABLE 111 ROW: VCSEL MARKET IN HEALTHCARE VERTICAL, BY REGION,
2024–2029 (USD THOUSAND) 163
TABLE 112 VCSEL MARKET IN MILITARY VERTICAL, BY REGION, 2020–2023 (USD MILLION) 164
TABLE 113 VCSEL MARKET IN MILITARY VERTICAL, BY REGION, 2024–2029 (USD MILLION) 164
TABLE 114 NORTH AMERICA: VCSEL MARKET IN MILITARY VERTICAL, BY COUNTRY,
2020–2023 (USD THOUSAND) 164
TABLE 115 NORTH AMERICA: VCSEL MARKET IN MILITARY VERTICAL, BY COUNTRY,
2024–2029 (USD THOUSAND) 164
TABLE 116 EUROPE: VCSEL MARKET IN MILITARY VERTICAL, BY COUNTRY,
2020–2023 (USD THOUSAND) 165
TABLE 117 EUROPE: VCSEL MARKET IN MILITARY VERTICAL, BY COUNTRY,
2024–2029 (USD THOUSAND) 165
TABLE 118 ASIA PACIFIC: VCSEL MARKET IN MILITARY VERTICAL, BY COUNTRY,
2020–2023 (USD THOUSAND) 165
TABLE 119 ASIA PACIFIC: VCSEL MARKET IN MILITARY VERTICAL, BY COUNTRY,
2024–2029 (USD THOUSAND) 166
TABLE 120 ROW: VCSEL MARKET IN MILITARY VERTICAL, BY REGION,
2020–2023 (USD THOUSAND) 166
TABLE 121 ROW: VCSEL MARKET IN MILITARY VERTICAL, BY REGION,
2024–2029 (USD THOUSAND) 166
TABLE 122 VCSEL MARKET, BY REGION, 2020–2023 (USD MILLION) 168
TABLE 123 VCSEL MARKET, BY REGION, 2024–2029 (USD MILLION) 169
TABLE 124 NORTH AMERICA: VCSEL MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 172
TABLE 125 NORTH AMERICA: VCSEL MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 172
TABLE 126 US: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 172
TABLE 127 US: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 173
TABLE 128 CANADA: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 173
TABLE 129 CANADA: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 173
TABLE 130 MEXICO: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 174
TABLE 131 MEXICO: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 174
TABLE 132 EUROPE: VCSEL MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 178
TABLE 133 EUROPE: VCSEL MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 178
TABLE 134 UK: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 179
TABLE 135 UK: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 179
TABLE 136 GERMANY: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 179
TABLE 137 GERMANY: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 180
TABLE 138 FRANCE: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 180
TABLE 139 FRANCE: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 180
TABLE 140 REST OF EUROPE: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 181
TABLE 141 REST OF EUROPE: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 181
TABLE 142 ASIA PACIFIC: VCSEL MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 186
TABLE 143 ASIA PACIFIC: VCSEL MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 186
TABLE 144 CHINA: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 187
TABLE 145 CHINA: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 187
TABLE 146 JAPAN: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 187
TABLE 147 JAPAN: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 188
TABLE 148 SOUTH KOREA: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 188
TABLE 149 SOUTH KOREA: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 188
TABLE 150 REST OF ASIA PACIFIC: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 189
TABLE 151 REST OF ASIA PACIFIC: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 189
TABLE 152 ROW: VCSEL MARKET, BY REGION, 2020–2023 (USD MILLION) 192
TABLE 153 ROW: VCSEL MARKET, BY REGION, 2024–2029 (USD MILLION) 193
TABLE 154 SOUTH AMERICA: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD THOUSAND) 193
TABLE 155 SOUTH AMERICA: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD THOUSAND) 193
TABLE 156 MIDDLE EAST: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD THOUSAND) 194
TABLE 157 MIDDLE EAST: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD THOUSAND) 194
TABLE 158 AFRICA: VCSEL MARKET, BY VERTICAL, 2020–2023 (USD THOUSAND) 194
TABLE 159 AFRICA: VCSEL MARKET, BY VERTICAL, 2024–2029 (USD THOUSAND) 195
TABLE 160 VCSEL MARKET: OVERVIEW OF STRATEGIES DEPLOYED BY KEY PLAYERS,
2019–2024 197
TABLE 161 VCSEL MARKET: DEGREE OF COMPETITION, 2023 202
TABLE 162 VCSEL MARKET: TYPE FOOTPRINT, 2023 210
TABLE 163 VCSEL MARKET: WAVELENGTH FOOTPRINT, 2023 211
TABLE 164 VCSEL MARKET: MATERIAL FOOTPRINT, 2023 212
TABLE 165 VCSEL MARKET: APPLICATION FOOTPRINT, 2023 213
TABLE 166 VCSEL MARKET: DATA RATE FOOTPRINT, 2023 214
TABLE 167 VCSEL MARKET: VERTICAL FOOTPRINT, 2023 215
TABLE 168 VCSEL MARKET: REGION FOOTPRINT, 2023 216
TABLE 169 VCSEL MARKET: DETAILED LIST OF KEY STARTUPS/SMES, 2023 219
TABLE 170 VCSEL MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES,
BY TYPE, 2023 220
TABLE 171 VCSEL MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES,
BY WAVELENGTH, 2023 220
TABLE 172 VCSEL MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES,
BY APPLICATION, 2023 221
TABLE 173 VCSEL MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES,
BY VERTICAL, 2023 221
TABLE 174 VCSEL MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES,
BY REGION, 2023 222
TABLE 175 VCSEL MARKET: PRODUCT LAUNCHES, FEBRUARY 2019–MARCH 2024 222
TABLE 176 VCSEL MARKET: DEALS, MARCH 2018–NOVEMBER 2023 228
TABLE 177 COHERENT CORP.: BUSINESS OVERVIEW 233
TABLE 178 COHERENT CORP.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 234
TABLE 179 COHERENT CORP.: PRODUCT LAUNCHES 235
TABLE 180 COHERENT CORP.: DEALS 237
TABLE 181 LUMENTUM OPERATIONS LLC: BUSINESS OVERVIEW 240
TABLE 182 LUMENTUM OPERATIONS LLC: PRODUCTS/SERVICES/SOLUTIONS OFFERED 241
TABLE 183 LUMENTUM OPERATIONS LLC: PRODUCT LAUNCHES 242
TABLE 184 LUMENTUM OPERATIONS LLC: DEALS 242
TABLE 185 AMS-OSRAM AG: BUSINESS OVERVIEW 245
TABLE 186 AMS-OSRAM AG: PRODUCTS/SERVICES/SOLUTIONS OFFERED 246
TABLE 187 AMS-OSRAM AG: PRODUCT LAUNCHES 248
TABLE 188 AMS-OSRAM AG: DEALS 249
TABLE 189 TRUMPF: BUSINESS OVERVIEW 251
TABLE 190 TRUMPF: PRODUCTS/SERVICES/SOLUTIONS OFFERED 252
TABLE 191 TRUMPF: PRODUCT LAUNCHES 254
TABLE 192 TRUMPF: DEALS 256
TABLE 193 TRUMPF: EXPANSIONS 257
TABLE 194 BROADCOM: BUSINESS OVERVIEW 258
TABLE 195 BROADCOM: PRODUCTS/SERVICES/SOLUTIONS OFFERED 259
TABLE 196 BROADCOM: PRODUCT LAUNCHES 261
TABLE 197 BROADCOM: DEALS 261
TABLE 198 MKS INSTRUMENTS: BUSINESS OVERVIEW 263
TABLE 199 MKS INSTRUMENTS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 264
TABLE 200 MKS INSTRUMENTS: PRODUCT LAUNCHES 265
TABLE 201 MKS INSTRUMENTS: DEALS 265
TABLE 202 SANTEC HOLDINGS CORPORATION: BUSINESS OVERVIEW 266
TABLE 203 SANTEC HOLDINGS CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED 267
TABLE 204 SANTEC HOLDINGS CORPORATION: PRODUCT LAUNCHES 268
TABLE 205 SANTEC HOLDINGS CORPORATION: DEALS 268
TABLE 206 LEONARDO ELECTRONICS US INC.: BUSINESS OVERVIEW 269
TABLE 207 LEONARDO ELECTRONICS US INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 269
TABLE 208 LEONARDO ELECTRONICS US INC.: PRODUCT LAUNCHES 270
TABLE 209 LEONARDO ELECTRONICS US INC.: DEALS 270
TABLE 210 VERTILAS GMBH: BUSINESS OVERVIEW 271
TABLE 211 VERTILAS GMBH: PRODUCTS/SERVICES/SOLUTIONS OFFERED 271
TABLE 212 VERTILITE: BUSINESS OVERVIEW 273
TABLE 213 VERTILITE: PRODUCTS/SERVICES/SOLUTIONS OFFERED 273
TABLE 214 VERTILITE: DEALS 274
LIST OF FIGURES
FIGURE 1 VCSEL MARKET SEGMENTATION 29
FIGURE 2 VCSEL MARKET SEGMENTATION, BY REGION 30
FIGURE 3 STUDY PERIOD CONSIDERED 31
FIGURE 4 GDP GROWTH PROJECTION DATA FOR MAJOR ECONOMIES, 2021–2023 34
FIGURE 5 VCSEL MARKET: RESEARCH DESIGN 36
FIGURE 6 KEY DATA FROM SECONDARY SOURCES 37
FIGURE 7 BREAKDOWN OF PRIMARIES, BY COMPANY TYPE, DESIGNATION, AND REGION 38
FIGURE 8 KEY INSIGHTS FROM INDUSTRY EXPERTS 40
FIGURE 9 PRIMARY AND SECONDARY RESEARCH APPROACHES 41
FIGURE 10 VCSEL MARKET: RESEARCH FLOW 42
FIGURE 11 APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF VCSELS
IN 2023 43
FIGURE 12 APPROACH 2 (DEMAND SIDE): ESTIMATION OF VCSEL MARKET SIZE 44
FIGURE 13 BOTTOM-UP APPROACH 44
FIGURE 14 TOP-DOWN APPROACH 45
FIGURE 15 DATA TRIANGULATION 46
FIGURE 16 RESEARCH LIMITATIONS 49
FIGURE 17 MULTIMODE VCSEL TO ACCOUNT FOR LEADING MARKET SHARE THROUGH PROJECTION PERIOD 51
FIGURE 18 NEAR-INFRARED (NIR) VCSEL TO DOMINATE MARKET THROUGH PROJECTION PERIOD 51
FIGURE 19 GALLIUM ARSENIDE (GAAS)-BASED VCSELS TO RECORD HIGHER CAGR DURING FORECAST PERIOD 52
FIGURE 20 SENSING TO BE LARGEST APPLICATION OF VCSELS DURING FORECAST PERIOD 53
FIGURE 21 VCSELS WITH 10.1 TO 25 GBPS DATA RATES TO LEAD MARKET THROUGH FORECAST PERIOD 53
FIGURE 22 CONSUMER ELECTRONICS TO BE MOST DOMINANT ADOPTER OF VCSELS DURING FORECAST PERIOD 54
FIGURE 23 NORTH AMERICA LED GLOBAL VCSEL MARKET IN 2023 55
FIGURE 24 ADVANTAGES OF SOLID-STATE TECHNOLOGY, COMPACT DESIGN, AND ROBUSTNESS TO DRIVE VCSEL MARKET 56
FIGURE 25 NEAR-INFRARED (NIR) AND GALLIUM ARSENIDE (GAAS) TO ACCOUNT FOR LARGEST RESPECTIVE SEGMENTAL SHARES IN 2024 56
FIGURE 26 MULTIMODE VCSELS TO FORM FASTER-GROWING MARKET BETWEEN
2024 AND 2029 57
FIGURE 27 DATA COMMUNICATION TO BE FASTEST-GROWING INDIVIDUAL
APPLICATION SEGMENT 57
FIGURE 28 VCSELS PROVIDING MORE THAN 25 GBPS DATA RATE TO GROW AT HIGHEST CAGR 58
FIGURE 29 AUTOMOTIVE VERTICAL TO SEE HIGHEST GROWTH OF VCSEL ADOPTION
THROUGH 2029 58
FIGURE 30 NORTH AMERICA TO SECURE LARGEST MARKET SHARE IN 2024 59
FIGURE 31 CHINA TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 59
FIGURE 32 VCSEL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 60
FIGURE 33 IMPACT OF DRIVERS ON VCSEL MARKET 63
FIGURE 34 IMPACT OF RESTRAINTS ON VCSEL MARKET 64
FIGURE 35 IMPACT OF OPPORTUNITIES ON VCSEL MARKET 67
FIGURE 36 IMPACT OF CHALLENGES ON VCSEL MARKET 68
FIGURE 37 EYE TRACKING AND GESTURE RECOGNITION SYSTEMS TO PRESENT NEW GROWTH OPPORTUNITIES FOR VCSEL COMPANIES 69
FIGURE 38 PRICING ANALYSIS OF CONSUMER ELECTRONICS INDUSTRY, BY KEY PLAYERS, 2023 (USD) 70
FIGURE 39 AVERAGE SELLING PRICE TREND OF VCSEL FOR CONSUMER ELECTRONICS,
BY REGION, 2020–2023 (USD) 71
FIGURE 40 VCSEL MARKET: VALUE CHAIN 72
FIGURE 41 VCSEL MARKET: ECOSYSTEM MAPPING 73
FIGURE 42 INVESTMENT AND FUNDING IN LASER INDUSTRY, 2023–2024 (USD MILLION) 76
FIGURE 43 NUMBER OF PATENTS GRANTED PER YEAR, 2013–2023 80
FIGURE 44 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS
IN LAST 10 YEARS 80
FIGURE 45 IMPORT DATA FOR HS CODE 854140, BY COUNTRY, 2018–2022 (USD MILLION) 87
FIGURE 46 EXPORT DATA FOR HS CODE 854140, BY COUNTRY, 2018–2022 (USD MILLION) 88
FIGURE 47 VCSEL MARKET: PORTER’S FIVE FORCES MODEL 99
FIGURE 48 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS 102
FIGURE 49 KEY BUYING CRITERIA FOR TOP THREE VERTICALS 103
FIGURE 50 MULTIMODE VCSELS TO BE SIGNIFICANTLY LARGER TYPE MARKET DURING FORECAST PERIOD 110
FIGURE 51 NEAR-INFRARED (NIR) TO BE DOMINANT SEGMENT AMONG WAVELENGTHS DURING FORECAST PERIOD 116
FIGURE 52 GALLIUM ARSENIDE (GAAS) TO BE MATERIAL MOST UTILIZED IN VCSEL MANUFACTURE DURING FORECAST PERIOD 121
FIGURE 53 SENSING APPLICATIONS TO BE DOMINANT MARKET DURING FORECAST PERIOD 127
FIGURE 54 VCSELS WITH ABOVE 25 GBPS TO GROW AT HIGHEST CAGR
DURING FORECAST PERIOD 137
FIGURE 55 ADOPTION OF VCSELS IN CONSUMER ELECTRONICS VERTICAL TO ACCOUNT FOR MARKEDLY LARGE SEGMENT DURING FORECAST PERIOD 143
FIGURE 56 VCSEL MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR
DURING FORECAST PERIOD 168
FIGURE 57 NORTH AMERICA: VCSEL MARKET SNAPSHOT 171
FIGURE 58 US TO ACCOUNT FOR LARGEST MARKET IN NORTH AMERICA IN 2024 AND 2029 171
FIGURE 59 EUROPE: VCSEL MARKET SNAPSHOT 177
FIGURE 60 GERMANY TO BE LARGEST EUROPEAN MARKET FOR VCSELS IN 2024 AND 2029 178
FIGURE 61 ASIA PACIFIC: VCSEL MARKET SNAPSHOT 185
FIGURE 62 CHINA TO BE LARGEST MARKET IN ASIA PACIFIC IN 2024 AND 2029 186
FIGURE 63 SOUTH AMERICA TO DOMINATE ROW VCSEL MARKET IN 2024 AND 2029 192
FIGURE 64 VCSEL MARKET: REVENUE ANALYSIS OF TOP FIVE PLAYERS,
2021–2023 (USD MILLION) 200
FIGURE 65 VCSEL MARKET SHARE ANALYSIS, 2023 201
FIGURE 66 COMPANY VALUATION, 2024 (USD BILLION) 205
FIGURE 67 FINANCIAL METRICS (EV/EBITDA), 2024 205
FIGURE 68 BRAND/PRODUCT COMPARISON 206
FIGURE 69 VCSEL MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 208
FIGURE 70 COMPANY FOOTPRINT, 2023 209
FIGURE 71 VCSEL MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023 218
FIGURE 72 COHERENT CORP.: COMPANY SNAPSHOT 234
FIGURE 73 LUMENTUM OPERATIONS LLC: COMPANY SNAPSHOT 241
FIGURE 74 AMS-OSRAM AG: COMPANY SNAPSHOT 246
FIGURE 75 TRUMPF: COMPANY SNAPSHOT 252
FIGURE 76 BROADCOM: COMPANY SNAPSHOT 259
FIGURE 77 MKS INSTRUMENTS: COMPANY SNAPSHOT 264
FIGURE 78 SANTEC HOLDINGS CORPORATION: COMPANY SNAPSHOT 267