PUNE, India, February 7, 2017 /PRNewswire/ --
The report "VCSEL Market by Type (Single Mode VCSEL and Multimode VCSEL), Application (Data Communication, Sensing, Infrared Illumination, Pumping, Industrial Heating, and Emerging Applications) End users, and Geography - Global Forecast to 2022", published by MarketsandMarkets, The VCSEL market was valued at USD 954.6 Million in 2015 and is expected to reach USD 3,124.1 Million by 2022, at a CAGR of 17.3 % during the forecast period.
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Browse 73 market data tables and 54 figures spread through 160 pages and in-depth TOC on "VCSEL Market - Global Forecast to 2022"
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Factors such as greater accuracy , high-power efficiency of VCSELs for medical and sensing applications, and additional capabilities such as low diversion, high beam light, low heat, and compact size are the drivers for the growth of the VCSEL market.
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Multimode VCSELs held the largest market share in 2015 and is expected to exhibit high growth rate during the forecast period
The multimode VCSEL is the major contributor to the overall market. The market for multimode is increasing rapidly. Multimode are suitable for long-haul transmissions as they offer better modulation compared to single-mode VCSELs. Multimode are thus used in precision sensing and datacom applications. The high-speed capability of multimode VCSELs has increased its use in data communication.
Automotive is expected to grow at the highest rate during the forecast period
VCSELs have gained a huge importance in the automotive sector. The use of electrical systems in various automobiles have increased the demand. Recent automobiles have improved significantly in terms of fuel efficiency, safety, in-car entertainment, and engine performance. All these technologies generate a large amount of data which needs to be transmitted at a high speed. VCSELs meet the high data rate requirements of the media-oriented systems transport (MOST) specification, which is the common networking protocol for designing internal communication networks in premium automobiles. This makes VCSEL sensors ideally suitable for new automotive markets.
North America held the largest share of the VCSEL market
The major companies such as Broadcom Limited (U.S.), Finisar Corporation (U.S.), Lumentum Holdings Inc. (U.S.), II-VI Incorporated (U.S.) and Vixar Inc. (U.S.), among others, have been responsible for the dynamic growth of the market in North America. Data communication is a key application driving the demand for this in North America. The adoption of the Internet of Things (IoT) for effective performance has resulted in the generation of huge amounts of data. This has increased the implementation of data centers. For instance, Microsoft and Google, Inc. (U.S.) both are constructing major data centers in this region which would ultimately boost the growth of overall market. Thus, the data communication application holds the largest share of the North American market. Additionally, pumping, sensing and emerging applications are expected to fuel the VCSEL market growth in this region.
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Major players operating in this market include Broadcom Limited (U.S.), Finisar Corporation (U.S.), Lumentum Holdings Inc. (U.S.), Royal Philips Electronics N.V. (Netherlands), II-VI Incorporated (U.S.), IQE PLC (U.K.), Vertilas GmbH (Germany), Princeton Optronics Inc.(U.S.),Vixar Inc. (U.S.) and Santec Corporation (Japan).
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