DUBLIN--(BUSINESS WIRE)--The "Tunable Laser Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The tunable laser market is expected to register a CAGR of 8.7% over the forecast period (2019-2024).
Factors, such as growth in highly advanced scientific research and demand for spectroscopy equipment in life science studies are anticipated to fuel the market growth. Specifically, spectroscopy technology has influenced the demand for tunable laser for many applications such as high spectral resolution, bonding of molecule at surface and interfaces, Tunable Diode Laser Absorption Spectroscopy (TDLAS), cavity enhancement in medical research, and many others.
- Scientific research centers and universities across the globe are relying on acute measuring equipment for the development of various photonics technologies such as LiDAR (Light Detection and Ranging), fiber optics, optical lenses, nuclear emission study, laser diode spectroscopy, and many others.
- Tunable diode laser absorption spectroscopy (TLADS) has seen widespread adoption in recent years. The fast response and robustness of TLADS made the ideal choice for industrial applications. The diode-based tunable laser has been the most preferred for the industrial application.
- In the automotive sector, TDLAS technology has been applied in a multi-cylinder automotive engine. With the government imposing regulations, including quality, to increase the mileage and reduce the CO2 emissions, automobile manufacturers are turning toward technological innovations in lasers to meet the targets and stringent rules imposed by the government.
Key Market Trends
Manufacturing & Industrial Sector to Witness Significant Growth
- The growing adoption of optical technologies for the mass production of consumer electronics is mainly driving the studied segment growth. The growth in consumer electronics applications, like micro sensing, flat panel display, and lidar, has also propelled the demand for tunable lasers in semiconductor and materials processing applications.
- In the industrial sector, tunable lasers are also used in fiber optics-sensing applications, such as distributed strain and temperature mapping and distributed measurement of shape. Aircraft health monitoring, wind turbine health monitoring, power generator health monitoring, and cavity detection/sinkhole monitoring are some of the emerging applications under this segment.
- Furthermore, the rising adoption of augmented reality (AR) displays using holographic optical elements has also expanded the scope for tunable lasers. Europe-based TOPTICA Photonics is developing UV/RGB high-power single-frequency diode lasers, mainly targeting applications, such as lithography, optics test and inspection, and holography.
Asia-Pacific is Expected to Witness Significant Growth
- Asia-Pacific is both a major consumer and producer of laser technologies, including tunable lasers. In some major countries, such as China, South Korea, Taiwan, Japan, etc., there is a high availability of raw materials required for manufacturing laser solutions, especially for tunable lasers highly dependent on semiconductor and electronic components (such as solid-state lasers, etc.). For many companies manufacturing tunable laser solutions abroad, Asia-Pacific stands to be a major source of imports.
- Companies are collaborating in this region and creating a huge opportunity. For instance, in February 2019, Electro Scientific Industries (ESI), a division of MKS Instruments, Inc. announced to supply a laser drilling solution for flexible printed circuits (FPC) process in China. The company is also eyeing to supply more laser-related solutions, which will eventually create more market for the tunable laser equipment in the region.
- Further, the region also has a huge demand from the photovoltaic (PV) industry. Increasing local demand for renewable energy and exports to other counties are creating considerable demand for tunable lasers in the region, as they stand to play a key role in quality check activities carried out on PV solar panels.
With the presence of many regional as well as global players in the industry, the global market for the tunable laser is expected to be fragmented in nature. Amplitude Laser Inc., Coherent, Inc., EXFO Inc., HBNER GmbH & Co. KG, Newport Corporation, Santec Corporation, are some of the major players in the market. All these players are involved in competitive strategic developments such as partnerships, new product innovation and market expansion to gain leadership positions in the global tunable laser market.
- June 2019 - Amplitude Laser Inc. installed a tunable laser system at Oxford University to reciprocate the research need in the field of neuroscience. The particular applications of the tunable laser systems will be involved in deep brain imaging and opto-genetic photo stimulation of neurons.
- July 2018 - Baraja Pty Ltd., a leading LiDAR system developer in Australia implemented tunable lasers to develop advanced LiDAR system for future autonomous driving application in the automotive industry.
Key Topics Covered
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growth in Highly Advanced Scientific Research
4.3.2 Demand for Spectroscopy Equipment in Life Science Study
4.4 Market Restraints
4.4.1 Complexity in System Design and Function
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.7 Technology Snapshot
4.7.1 By Type
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Scientific Research
5.1.2 Life Science
5.1.3 Other Applications
5.2.1 North America
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amplitude Laser Inc.
6.1.2 Coherent Inc.
6.1.4 EXFO Inc.
6.1.5 Finisar Corporation
6.1.6 HBNER GmbH & Co. KG
6.1.7 Luna Innovations Incorporated
6.1.8 Newport Corporation
6.1.9 Santec Corporation
6.1.10 Thorlabs Inc.
6.1.11 TOPTICA Photonics AG
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/hbl4p0