Increasing Strategic Initiatives by Major Players to Provide Growth Opportunities for Tunable Lasers Market during 2021–2028
According to our latest market study on “Tunable Lasers Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, End-User, Technology, and Wavelength,” the m Increasing Strategic Initiatives by Major Players to Provide Growth Opportunities for Tunable Lasers Market during 2021–2028 market was valued at US$ 1,000.1 million in 2021 and is projected to reach US$ 1,888.7 million by 2028; it is expected to grow at a CAGR of 9.5% from 2021 to 2028.
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. A few of the key developments to be mentioned are:
- 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.
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 the tunable lasers market. 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. With the increasing use of clean energy, the tunable lasers market size is projected to witness significant growth in the coming years.
Impact of COVID-19 Pandemic on Tunable Lasers Market
North America is well-known for the adoption of new technologies owing to favorable government policies to boost innovation, the presence of various technology companies, and the high adoption of advanced technologies in various industry verticals, especially in Canada and the US. Thus, any negative impact on the growth of industries hampers the economic growth of the region. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 positive patients. Therefore, governments imposed lockdowns to limit human movement. As a result, manufacturing facilities experienced a reduction in production volumes, which negatively impacted the tunable lasers market share. Further, disruption in the logistic framework during the first wave of the COVID-19 outbreak created challenges for tunable lasers provider. However, tunable lasers manufacturers also supply their systems to the defense and medical sectors, which are deemed to be crucial and was operating even at the time of the pandemic. Therefore, tunable lasers market players are receiving orders from these crucial industries and were operational during the lockdown, creating enough cashflows for the OEMs. These factors have influenced the tunable lasers market growth during the pandemic.
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 the tunable lasers market study. In addition, several other important market players were studied and analyzed during the market research study to get a holistic view of the global market and its ecosystem.
Tunable Lasers Market - by Geography, 2020
Tunable Lasers Market Size & Share | Global Analysis 2021-2028
Download Free SampleTunable Lasers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type [Solid State, Gas, Free Electron Laser (FEL), and Others], End-User (Manufacturing, Telecommunication, Medical and Biotechnology, Aerospace, Electronics and Semiconductor, Industrial, and Others), Technology [Cavity Diode Laser (DBR), Distributed Bragg Reflector Laser (DFB), Vertical Cavity Surface Emitting Lasers (VCSELs), Micro Electro Mechanical System (MEMS), and Others], and Wavelength (Less than 1000 nm, 1000 nm-1500 nm, and Above 1500 nm)
The tunable lasers market is segmented on the basis of type, end-user, technology, wavelength, and geography. Based on type, the market is segmented into solid-state, gas, free-electron laser (FEL), and others. Based on end-user, the market is segmented into manufacturing, telecommunication, medical and biotechnology, aerospace, electronics and semiconductor, and others. Based on technology, the tunable lasers market is segmented into cavity diode laser (DBR), distributed Bragg reflector laser (DFB), vertical-cavity surface-emitting lasers (VCSELs), microelectromechanical system (MEMS), and others. Based on wavelength, the market is segmented into less than 1000 nm, 1000 nm–1500 nm, and above 1500 nm.
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