In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
February, 2022: TRUMPF to acquire Active Fiber Systems GmbH (AFS) to develop and manufacture ultra-short pulse laser systems and fiber-laser systems.
June, 2020: Mercedes-Benz, and NVIDIA, to form a cooperation to create in-vehicle computing system and AI computing for the next-generation Mercedes-Benz vehicles, enabling them with upgradable automated driving functions, starting in 2024
The global vertical-cavity surface-emitting laser (VCSEL) market is estimated to grow at a CAGR of ~18% over the forecast period, i.e., 2022 – 2031. Vertical-cavity surface-emitting laser or VCSEL is a semiconductor-based laser diode, which emits optical beam vertically from its top surface. It is a vital component for 3D sensor systems, including 3D facial identification systems, light detection and ranging (LiDAR), world-facing cameras on mobile handsets, and sensing for autonomous driving vehicles. The growth of the market can be attributed to the growing applications of VCSEL. Moreover, the growing adoption of automated vehicles is estimated to primarily boost the market growth. According to the International Organization of Motor Vehicle Manufacturers, 97.302 million vehicles were produced in the year 2017, which grew by 2.36 percent from the previous year. Further, the size of the autonomous vehicles industry reached approximately USD 23 billion in 2020, which is estimated to cross USD 35 billion by 2023. Moreover, VCSEL is also applied in gesture recognition, augmented reality, virtual reality, robotics, metaverse, and proximity sensors, which is projected to further promote the market growth.
The market is segmented by application into telecom, consumer electronics, automotive, medical, industrial, aerospace and defense, and others, out of which, the automotive segment is anticipated to hold a substantial share in the global vertical-cavity surface-emitting laser (VCSEL) market over the forecast period on account of growing adoption of self-driving vehicles across the globe.CLICK TO DOWNLOAD SAMPLE REPORT
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global vertical-cavity surface-emitting laser (VCSEL) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness modest growth over the forecast period on the back of increasing sales and production of vehicles, rapid surge in consumer population, and deployment of government policies supporting industrial growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period growing adoption of ADAS in vehicles, along with rising production of cars in the region. According to the report by IEA, 17 million cars were sold in the United States in 2019.
The global vertical-cavity surface-emitting laser (VCSEL) market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global vertical-cavity surface-emitting laser (VCSEL) market includes the following segments:
Ans: Increasing adoption of 3D sensor systems is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~18% over the forecast period, i.e., 2022 – 2031.
Ans: Lack of availability of advanced technology in underdeveloped regions is estimated to hamper the market growth.
Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the increasing adoption of advanced technology in the region.
Ans: The major players in the market are Vixar Inc., Hamamatsu Photonics K.K., TRUMPF, II-VI Incorporated, Broadcom Inc., Vertilite Inc., Coherent, Inc., Alight Solutions, LLC, Connector Optics LLC, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, material, application, and by region.
Ans: The multi-scale VCSEL segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.