Middle East & Africa Vertical Cavity Surface Emitting Laser (VCSEL) Market
Published On: Aug 2023
Published On: Aug 2023
According to Business Market Insights research, the Middle East & Africa vertical cavity surface emitting laser market was valued at US$ 63.09 million in 2023 and is expected to reach US$ 139.91 million by 2030, registering a CAGR of 12.0% from 2023 to 2030. Rising adoption of VCSEL for 3D sensing applications and emerging telecommunication industry are the critical factors attributed to the Middle East & Africa vertical cavity surface emitting laser market expansion.
VCSELs are used widely as light sources in 3D sensing applications. 3D sensing technologies are used in various industries such as consumer electronics, medical, industrial, automotive, and automotive to gain high precision and accuracy for the required task. For example, the technologies are used in cameras, commonly in smartphones, automobiles, drones, and robots, to scan and render objects in 3D. In consumer electronics such as smartphones, VCSEL widely used for facial recognition and gesture control applications. In industrial automation, VCSEL is used for accurate sensing technologies. It is also employed in virtual reality and gaming applications. Thus, the growth of these industries propels the requirement for 3D sensing technologies, positively influencing the demand for VCSEL. Moreover, to cater to the demand for VCSEL, several market players are introducing new VCSEL products. For instance, In April 2022, TRUMPF launched new VCSEL products to expand its VCSEL product portfolio for 3D sensing in consumer and industrial applications. In March 2021, IQE PLC unveiled an IQVCSELTM product line to expand its VCSEL portfolio for service communication and advanced sensing markets. In March 2021, Lumentum Operations LLC launched five and six-junction VCSEL array products for the advanced consumer and other 3D sensing applications. The use of VCSEL-based imaging increases the power and wavelength for 3D sensing. Further, it is considered an ideal solution for face and gesture recognition. Its ability to produce high-power outputs makes it an optimal solution in robotics and autonomous vehicle application. Such benefits of VCSEL encourage new product launches and contribute to its demand, which drives the Middle East & Africa VSCEL market growth.
On the contrary, stringent government standard on VCSEL use hampers the Middle East & Africa Vertical Cavity Surface Emitting Laser (VCSEL) Market.
Based on type, the Middle East & Africa vertical cavity surface emitting laser market is segmented into single mode and multi-mode. The single mode segment held 66.3% share of Middle East & Africa Vertical Cavity Surface Emitting Laser (VCSEL) Market in 2023, amassing US$ 41.81 million. It is projected to garner US$ 90.36 million by 2030 to expand at 11.6% CAGR during 2023–2030.
Based on material, the Middle East & Africa vertical cavity surface emitting laser market is segmented into Gallium Arsenide (GAAS), Indium Phosphide (INP), and others. The Gallium Arsenide (GAAS) segment held 70.9% share of Middle East & Africa Vertical Cavity Surface Emitting Laser (VCSEL) Market in 2023, amassing US$ 44.75 million. It is projected to garner US$ 101.80 million by 2030 to expand at 12.5% CAGR during 2023–2030.
Based on data rate, the Middle East & Africa vertical cavity surface emitting laser market is segmented into Up to 10 GBPS, 10.1 to 25 GBPS, and Above 25 GBPS. The above 25 GBPS segment held 50.2% share of Middle East & Africa Vertical Cavity Surface Emitting Laser (VCSEL) Market in 2023, amassing US$ 31.65 million. It is projected to garner US$ 74.32 million by 2030 to expand at 13.0% CAGR during 2023–2030.
Based on wavelength, the Middle East & Africa vertical cavity surface emitting laser market is segmented into Red, Near Infrared (NIR), and Short Wave Infrared (SWIR). The red segment held 42.2% share of Middle East & Africa Vertical Cavity Surface Emitting Laser (VCSEL) Market in 2023, amassing US$ 26.64 million. It is projected to garner US$ 51.89 million by 2030 to expand at 10.0% CAGR during 2023–2030.
Based on application, the Middle East & Africa vertical cavity surface emitting laser market is segmented into sensing, data communication, industrial heating & printing, and others. The sensing segment held 76.9% share of Middle East & Africa Vertical Cavity Surface Emitting Laser (VCSEL) Market in 2023, amassing US$ 48.52 million. It is projected to garner US$ 108.03 million by 2030 to expand at 12.1% CAGR during 2023–2030.
Based on end-use industry, the Middle East & Africa vertical cavity surface emitting laser market is segmented into mobile & consumer, telecom & infrastructure, industrial, defense & aerospace, medical, and automotive & mobility. The mobile & consumer segment held 55.2% share of Middle East & Africa Vertical Cavity Surface Emitting Laser (VCSEL) Market in 2023, amassing US$ 34.85 million. It is projected to garner US$ 78.55 million by 2030 to expand at 12.3% CAGR during 2023–2030.
Based on country, the Middle East & Africa vertical cavity surface emitting laser market has been categorized into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 43.3% share of Middle East & Africa Vertical Cavity Surface Emitting Laser (VCSEL) Market in 2023. It was assessed at US$ 27.34 million in 2023 and is likely to hit US$ 58.12 million by 2030, exhibiting a CAGR of 11.4% during the forecast period.
Key players dominating the Middle East & Africa vertical cavity surface emitting laser market are ams-OSRAM AG; Broadcom Inc; Hamamatsu Photonics KK; Leonardo SpA; Lumentum Holdings Inc; and TRUMPF SE + Co KG, among others.
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