Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "North America Vertical Cavity Surface Emitting Laser Market Forecast to 2030 -Regional Analysis" report has been added to ResearchAndMarkets.com's offering.
The latest research publication on the North America vertical cavity surface emitting laser (VCSEL) market underscores a robust forecast for the industry, expecting an impressive compound annual growth rate (CAGR) of 15.7% from 2023 to 2030. Projections indicate a surge from US$ 672.88 million to US$ 1,872.15 million over the analysis period.
Rise in 3D Sensing Applications Propels VCSEL Market Expansion
VCSEL technology has become fundamental to powering 3D sensing applications across a spectrum of industries, including consumer electronics, medical, industrial automation, and automotive sectors. Its prevalent use in smartphones for facial recognition, automotive safety systems, and in the burgeoning fields of virtual reality and gaming exemplifies the current trajectory for this market's growth.
Product Innovation Among North America VCSEL Market Leaders
Innovation remains a driving force behind the VCSEL market's expansion, with industry leaders unveiling new products tailored for both consumer and industrial applications. Leveraging the benefits of VCSEL for enhanced power and wavelength in 3D sensing applications continues to stimulate technological advancements. These developments are perfectly aligned with consumer demands and industrial requirements, promoting the growth of the North American VCSEL market.
Market Overview
The robust economic impact of the manufacturing industry, supported by governmental investments in technology and automation, coupled with the region's significant exports in medical devices, provides fertile ground for the widespread application of VCSELs in various end-use industries.
Comprehensive Market Segmentation
- The market segments include single-mode and multi-mode, with single mode acquiring the larger market share in 2023.
- The material segmentation highlights the dominance of Gallium Arsenide (GaAs) in the current market landscape.
- High data rate segments, especially those above 25 Gbps, showed significant market control.
- In applications, the sensing category emerged as the predominant market shareholder, evidencing the critical role of VCSELs in this domain.
- The vast consumer mobile sector leads the end-use industry segmentation, further emphasizing the consumer electronics market's influence.
- Geographical analysis identifies the US as the commanding force in the market, with Canada and Mexico also contributing to the regional market's dynamics.
Leading Companies Powering the North American VCSEL Market
A consortium of notable firms, characterized by innovation and market leadership, continue to guide the market towards a bright future with their commitment to advancing VCSEL technology.
The comprehensive analysis presented in this research offers an insightful look at the factors propelling the VCSEL market in North America, as well as a detailed segmentation that can help strategists and investors understand the direction and nuances of the market. With such strong growth indicators, stakeholders are poised to witness substantial advancements in the region's VCSEL market landscape up to the year 2030.
A selection of companies mentioned in this report includes
- ams-OSRAM AG
- Broadcom Inc
- Coherent Corp
- Hamamatsu Photonics KK
- IQE Plc
- Leonardo SpA
- Lumentum Holdings Inc
- TRUMPF SE + Co KG
- VERTILAS GmbH
For more information about this report visit https://www.researchandmarkets.com/r/gjywp2
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