Tunable Laser Market Research Report—Forecast till 2026
the Global Tunable Laser Market is anticipated to register a CAGR of 8.19%, witnessing substantial market growth during the review period to reach USD 1,353.5 Million by 2026. The major growth driving factors of the global market is the increasing demand for high bandwidth and high data transfer capabilities, the rising quality requirement in industrial projects, and the growing demand for consumer electronics. Additionally, the rising adoption of tetra hertz spectroscopy is anticipated to create lucrative growth opportunities in the adoption of the tunable laser across various regions. However, a lack of technical expertise is expected to restrain the growth of the global tunable laser market during the review period.
The global tunable laser market is growing rapidly across the world owing to the developments across photonics and measurement instruments, rising network congestion and traffic, and adoption of spectroscopy in healthcare and other related applications. Furthermore, the rise in the demand for tunable lasers from the environmental screening vertical and their rising adoption in the pharmaceutical and other industries also drive demand. Optical and infrared spectroscopy is undergoing a major transformation akin to the computer industry.
Global Tunable Laser Market has been categorized into frequency, application, and vertical. Based on frequency, the global market has been classified into 0.77um–0.91um (Ultra-Narrow Linewidth), 1.26um–1.36um (O-Band), 1.36um–1.46um (E-Band), 1.46um–1.53um (S-Band), 1.53um–1.57um (C-Band), 1.57um–1.63um (L-Band), 1.63um–1.68um (U-Band), and 2um. The 1.57um–1.63um (L-Band) segment registered the largest market share in 2019, while 1.46um–1.53um (S-Band) is expected to register the highest CAGR during the review period.
In terms of the vertical segment, the global tunable Laser market has been divided into telecommunication & networking, healthcare, aerospace & defense, manufacturing, semiconductor, energy & utilities, and others. Based on application, the market has been segmented into spectroscopy, metrology, optical fiber communication, laser cooling, and others. The spectroscopy segment is expected to dominate the market share during the review period owing to the largest market share in 2019.
Geographically, the Global Tunable Laser Market has been classified into North America, Europe, Asia-Pacific, Middle East, and Africa, and Central & South America.
Asia-Pacific accounted for the largest market value of USD 341.3 million and it is expected to register whereas North America registered the highest CAGR of 10.47% in 2019. In 2019, the market was driven by Asia-Pacific, with a 44.2% offer, trailed by Europe with portions of 27.6%. The investigation uncovers that tunable laser is moving in North America and Asia locale. The auto area in North America and Europe locale has expanded the utilization of tunable lasers for their multi-chamber motors that help lessen carbon dioxide discharges and follow the emanation standards. While the car sees an increment in the sending of tunable lasers, the significant developing verticals incorporate assembling, including car production.
The key players of the global tunable laser market are Yokogawa Electric Corp (Japan), Mettler Toledo (US), Toptica Photonics (Germany), Hubner GmbH & Co KG (Germany), Agilent Technologies Inc. (US), Focused Photonics Inc. (China), Luna (US), NEC Corporation (Japan), NeoPhotonics Corporation (US), and Santec Corporation (Japan) among others.
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