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According to the report published by Allied Market Research, titled, "VCSEL for Data Communication Market by Type (Single Mode and Multi-Mode) and Material (Gallium Nitride, Gallium Arsenide, Indium Phosphide, and Other): Global Opportunity Analysis and Industry Forecast, 2020–2027," 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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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.
Key Benefits For Stakeholders
This study comprises analytical depiction of the global VCSEL for data communication market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall VCSEL for data communication market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and VCSEL for data communication market opportunities with a detailed impact analysis.
The current VCSEL for data communication market forecast is quantitatively analyzed from 2017 to 2027 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and the VCSEL for data communication market share of key vendors.
The report includes the market trends and the market share of key vendors.
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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 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.
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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.
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.
Read More at https://www.globenewswire.com/news-release/2020/08/11/2076499/0/en/VCSEL-for-Data-Communication-Market-to-Reach-358-41-Million-by-2027-at-13-5-CAGR.html
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Organization: Allied Market Research
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Release ID: 89035891