According the recent study titled ‘Global VCSEL Market: Analysis By Device Type, Application, End User, By Region, By Country (2020 Edition): Opportunities and Forecast (2020-2025)’, available with Market Study Report, global VCSEL market was worth USD 1,676.34 million in 2019 and is anticipated to gain considerable traction over the forecast years.
 

Growing requirement for highly energy efficient and accurate laser solutions, increasing applications of VCSEL (Vertical Cavity Surface Emitting Laser), along with several advancements in end-user industries are driving the market growth. In addition, rise in use of VCSELs for infrared illumination is boosting the industry growth, cites the report.
 

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Based on device type, global VCSEL market is bifurcated into single mode and multimode, wherein the latter segment accounts for the majority share owing to surging demand for consumer electronics.
 

Elaborating on the application scope, the market is divided into data communication, infrared illumination, 3D sensing and others. Of these, data communication presently holds the largest market share, fueled by growing demand for high speed data connectivity and proliferation of internet enabled smartphones across the globe.
 

3D sensing applications is also slated witness a considerable growth over the forecast period, supported by rising demand of new technologies in smartphones and other gadgets.
 

Speaking of the end user segment, global VCSEL market is fragmented into data center, consumer electronics, automotive, and others, among which, the foremost segment accounts for majority market share.
 

As per the regional analysis, worldwide VCSEL market is segmented into America (United, States), Europe (Germany, United Kingdom), and Asia Pacific (China). Integration of new technologies in consumer electronics and new applications by some major nations such as Germany, UK, US, and China, facilitated by increasing production activities in LiDAR and 3D sensing is fueling the product demand in these economies.
 

Leading organizations in global VCSEL market are Broadcom, Trumpf, Lumentum, IQE, and II-VI Incorporated.