Vertical Cavity Surface Emitting Laser (VCSEL) technology has become an indispensable element in optical communication systems and optoelectronics due to its many advantages, and the unique characteristics of VCSELs, including vertical emission, high-speed operation, and low power consumption, have attracted much interest from researchers and industry professionals. This paper provides a comprehensive overview of VCSELs, explaining their basic principles and two commonly used structures. It also delves into the field of optical communications, highlighting the challenges faced in the current development, from which it introduces the significant progress made by VCSELs over the past decade in various applications such as high-speed data transmission, multi-mode communications, and long-distance networks. In addition, this study provides valuable insights into the future trajectory and potential evolution of VCSEL technology to facilitate further research and innovation in the field of communications. By providing a holistic analysis, this study is a valuable resource for scientists and researchers to help them realize the full potential of VCSELs in advancing optical communication technologies to meet the ever-changing needs of modern communication networks.