Portland, OR, Aug. 11, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global VCSEL for data communication market generated $120.52 million in 2019, and is estimated to reach $358.41 million by 2027, registering a CAGR of 13.5% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growing demand for VCSELs in data centers across the globe and surge in usage of 3D sensing applications in smartphones drive the growth of the global VCSEL for data communication market. However, limited range of data transmission restrains the market growth. Furthermore, surge in adoption of wireless technologies is expected to provide new growth opportunities for market players in the near future.
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Covid-19 scenario:
- VCSEL manufactrurers across the globe have halted their production activities due to disrupted supply of raw materials such as gallenium arsenide and indium phosphide with restrictions on mobility amid the lockdown.
- Usage of VCSEL is expected to surge during the Covid-19 pandemic as it helps in reducing delays in data communications and providing secure digital transfer of information as companies adopt “work from home” approach.
The report offers a detailed segmentation of the global VCSEL for data communication market based on type, material, and region.
Based on type, the multi-mode segment contributed to the largest share in 2019, accounting for nearly three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is estimated to portray the highest CAGR of 14.0% during the forecast period. The report also analyzes the single mode segment.
Based on material, the gallium arsenide segment accounted for the largest share in 2019, holding nearly three-fourths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the indium phosphide segment is expected to register the highest CAGR of 16.5% from 2020 to 2027.
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Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 15.5% from 2020 to 2027.
Leading market players analyzed in the research include TRUMPF, Hamamatsu Photonics K.K., RPMC Lasers, II-VI Incorporated, Vixar Inc. (Osram Opto semiconductor), Bandwidth10, VI Systems GmbH, VERTILAS GmbH, Vertilite, and Ushio America, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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