Pune, India, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The deployment of tunable lasers in manufacturing and industrial sectors is primarily driven by the increased usage of optical technologies for the mass production of consumer devices. The demand for tunable lasers in semiconductor and materials processing applications has risen in tandem with the growth of consumer electronics applications such as micro sensing, flat panel displays, and lidar.
Tunable Lasers Market in terms of revenue was estimated to be worth $1.00 billion in 2021 and is poised to reach $1.88 billion by 2028, growing at a CAGR of 9.5% from 2021 to 2028 according to a new report published by The Insight Partners.
Tunable lasers in market growth are also influencing the industrial fiber optics sensing applications like distributed strain and temperature mapping and distributed shape measurement. Aerial health monitoring, wind turbine health monitoring, power generator health monitoring, and cavity detection/sinkhole monitoring are some of the developing uses in this field.
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Global Tunable Lasers Market Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 1.00 billion in 2021 |
| Market Size Value by | US$ 1.88 billion by 2028 |
| Growth rate | CAGR of 9.5% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| Segments covered | Type, End-User, Technology, and Wavelength |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Coherent, Inc.; Daylight Solutions; EXFO Inc.; HÜBNER GmbH & Co. KG; and NeoPhotonics Corporation are among the major players operating in the global tunable lasers market. These companies highly invest in organic and inorganic growth strategies, such as product development, global expansion, and mergers and acquisitions. The strategies are being observed over the years. For Instance, In March 2021, Freedom Photonics announced the launch of new single spatial mode diode lasers. These lasers have a previously unheard-of power output (1 W) in a practically diffraction-limited mode and a high electrical-to-optical efficiency of more than 50%. In March 2021, Santec Corporation released the TSL-570 tunable laser, which has a rapid scan time and excellent stability. Santec's 33-year experience in tunable laser manufacturing is put to good use in the TSL-570. It features a unique optical cavity architecture with the sub-picometer resolution, accuracy, and fine speed control of up to 200 nm/s. In September 2021, NeoPhotonics Corporation announced the launch of a new tunable high-power frequency-modulated continuous-wave laser and high-power semiconductor optical amplifier chips. Both components enable long-range automobile lidar and high-resolution industrial sensing applications. Thus, strategic initiatives and huge investments by the major companies operating in the tunable lasers market are expected to propel the market growth during the forecast period.
Furthermore, the increasing use of holographic optical elements in augmented reality (AR) displays has broadened the scope of tunable lasers’ market share. For example, Europe-based TOPTICA Photonics is developing UV/RGB high-power single-frequency diode lasers, primarily for lithography, optical test and inspection, and holography.
Asia-Pacific is a big consumer and manufacturer of lasers, notably tunable lasers. Raw materials essential for producing laser solutions are abundant in a few major nations, such as China, South Korea, Taiwan, and Japan. Tunable lasers rely heavily on semiconductor and electronic components (solid-state lasers, etc.). Asia-Pacific is expected to be a major source of imports for many companies making tunable laser products in other parts of the world.
Collaborations between companies operating in the region are further driving the market growth. For instance, in February 2019, Electro Scientific Industries (ESI), a part of MKS Instruments, Inc., stated that it would deliver a laser drilling solution for the flexible printed circuits (FPC) process in China. The company also wants to provide laser-related solutions, which would expand the tunable lasers market equipment in the area.
In addition, the photovoltaic (PV) industry has a huge need for tunable lasers in Asia-Pacific. This rise in demand for PV is due to the increasing local demand for renewable energy and surging export of the same to other countries, which is further contributing to the high demand for tunable lasers by PV manufacturers. The growth of the tunable lasers market in the region is attributed to the rising local demand for renewable energy and increasing exports to other countries since they will play a significant role in quality control activities on PV solar panels.
Global Tunable Lasers Market: Type Overview
Based on type, the tunable lasers market is segmented into solid-state, gas, free-electron, and other lasers. The solid-state laser segment led the market with a market share of 40.0% in 2020. Further, it is expected to hold around 45% share by 2028.
Titanium doped sapphire is considered to be the most common tunable solid-state laser. Titanium doped sapphire is capable of laser operations in the range of 670 nm to 1,100 nm wavelength. The alexandrite laser is based on the doped crystal, and it has a tuning range of around 720–800 nm. Solid-state lasers are mostly utilized in scientific research owing to their unique tunability and the ability to produce ultra-short pulses. Tunable solid-state lasers operate efficiently at wavelengths around 800 nm. Particularly, such laser systems involve a Lyot filter into the laser cavity that is rotated for tuning the laser. A few of the other tuning techniques are diffraction gratings, etalons, prisms, or a combination of these. A few compact tunable solid-state bulk lasers like non-planar ring oscillators (NPROs, MISERs) facilitate continuous tuning within their free spectral range of several gigahertz (GHz). Tuning is generally accomplished by varying the crystal temperature or by applying stress to the laser crystal via a piezoelectric charge. Tunable solid-state lasers are not yet widely in medicine, but potentially, they seem to be very useful in coming years.
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Global Tunable Lasers Market: Competitive Landscape and Key Developments
Coherent, Inc.; Daylight Solutions; EXFO Inc.; HÜBNER GmbH & Co. KG; KEYSIGHT TECHNOLOGIES; Luna Innovations Inc.; NeoPhotonics Corporation; SANTEC CORPORATION; Freedom Photonics LLC; Toptica Photonics AG; Lumentum Operations LLC; FURUKAWA ELECTRIC CO., LTD.; EMCORE Corporation; Pure Photonics; and ID Photonics GmbH are among the key players profiled during this market study. In addition, several other essential tunable lasers market players were studied and analyzed to get a holistic view of the market and its ecosystem.
Recent Developments:
- In 2021, SCALABLE Network Technologies, a leader in communications network simulation and modeling solutions for design, test, and analysis, as well as cyber assessment and training, announced that it has been acquired by Keysight Technologies, Inc.
- In 2021, Quantum Benchmark, a leader in error diagnostics, error suppression, and performance validation software for quantum computing, has been bought by Keysight Technologies, Inc.
Global Tunable Lasers – Key Market Dynamics
Drivers
- Rising Adoption of Tunable Lasers Across Industries
- Increasing Demand for Tunable Lasers in APAC
Restraints
- Supply Chain Disruptions
Opportunities
- Increasing Strategic Initiatives by Major Players
Future Trends
- Growing Adoption Across Manufacturing and Industrial Sectors
Go through further research published by The Insight Partners:
Medical Tunable Laser Market - Global Analysis and Forecast to 2030.
Semiconductor Laser Therapeutic Instrument Market - Global Analysis and Forecast to 2030.
Therapeutic Laser System Market - Global Analysis and Forecast to 2030.
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