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VCSEL 시장 – 2029년까지의 세계 예측

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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구성 영문조사보고서

    주문/문의    조사회사/라이센스/납기안내

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.

VCSEL 시장 – 2029년까지의 세계 예측

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.

VCSEL 시장 – 2029년까지의 세계 예측 ecosystem

“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%

VCSEL 시장 – 2029년까지의 세계 예측 region

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


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