
Global Vertical Cavity Surface Emitting Laser (VCSELs) market is expected to grow from $770.32 million in 2015 to reach $3361.23 million by 2022 with a CAGR of 23.4%. Increasing technological advancements equipping to use VCSEL in infrared illumination, growing demand from automotive electronics, and rising adoption of VCSEL in data centers are the driving factors propelling the market growth. In addition, growing acceptance of VCSELs in proximity sensing, GPS, and magnetometers is favouring the market growth. On the other hand, technological limitations are hindering the market growth.