tunable lasers Market

The global tunable lasers market is expected to grow from US$ 1,000.1 million in 2021 to US$ 1,888.7 million by 2028; it is estimated to grow at a CAGR of 9.5% during 2021-2028.

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 are also used in 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.

Furthermore, the increasing use of holographic optical elements in augmented reality (AR) displays has broadened the scope of tunable lasers. 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.

The tunable lasers market is segmented based on type, end-user, technology, wavelength, and geography. Based on type, the market is segmented into solid-state, gas, free-electron laser (FEL), and others. The solid-state segment represented the largest market share in 2020. In terms of end-user, the tunable lasers market is segmented into manufacturing, telecommunication, medical and biotechnology, aerospace, electronics and semiconductor, industrial, and others. In 2020, the telecommunication segment accounted for a substantial share of the market. Based on technology, the market is segmented into cavity diode laser (DBR), distributed Bragg reflector laser (DFB), vertical-cavity surface-emitting lasers (VCSELs), microelectromechanical system (MEMS), and others. The cavity diode laser (DBR) segment represented the largest share of the market in 2020. Based on wavelength, the market is segmented into less than 1000 nm, 1000 nm-1500 nm, and above 1500 nm. The 1000 nm-1500 nm segment represented the largest share of the overall market in 2020. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Asia Pacific (APAC) accounted for a significant share in the global market.

Italy, the UK, Russia, France, and Germany are among the worst affected economies in Europe due to the COVID-19 outbreak. The region is facing a severe financial crisis as businesses either had to reduce their activities substantially or suspend their operations. Due to travel bans, lockdowns, and supply chain disruptions, Europe is anticipated to see an economic slowdown in 2021. Moreover, the pandemic has resulted in the closure of various companies working in the industrial manufacturing domain, which, in turn, has impacted the demand for/order of tunable laser systems negatively. Europe is a major industrial hub for various sectors, such as machinery equipment, manufacturing, and logistics. However, due to business lockdowns, travel bans, and supply chain disruptions, the region has witnessed a decline in activities in the above-mentioned industries, which has impacted the market growth in Europe. However, the region is preventing the spread of novel coronavirus with the vaccination drives in various countries of Europe. As a result, the overall situation is improving and therefore the demand for the tunable laser will also improve in the future.

The overall tunable lasers market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the tunable lasers market concerning all the segments. It also provides the overview and forecast for the market based on all the segmentation provided concerning five major regions-North America, Europe, Asia Pacific, Middle East, and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the tunable lasers market.

Coherent, Inc.; Daylight Solutions; EXFO Inc.; H?BNER 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 a few major players operating in the global tunable lasers market, occupying major market share.