New York, Sept. 04, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Tunable Laser Market” published by Consegic Business Intelligence, the market was worth USD 11,366.53 Million in 2022 and is anticipated to reach over USD 22,122.74 Million by the year 2030, growing at a CAGR of 8.9%.
Tunable lasers are a type of laser with adjustable wavelength of operation that can be altered within a defined range in a controlled manner. The benefits of tunable laser including optimized beam profile, high data conveying limit, high light density, constant change in wavelength emissions, and others, make it ideal for utilization in telecommunication, healthcare, automotive, aerospace & defense, and other industries.
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The increasing utilization of tunable lasers in the telecommunication industry is one of the key factors driving the market growth. Moreover, the growing penetration of 5G networks, increasing demand for wireless communication, and rising need for high-speed data transfer solutions are key factors fostering the adoption of tunable lasers. For instance, according to the GSM Association, 5G connections in China is projected to reach 1.6 billion by 2030, accounting for almost a third of the global total. Thus, rising penetration of 5G networks is increasing the adoption of tunable lasers in telecommunication base stations and fiber optic communication systems among others, thereby, driving the growth of the market.
Additionally, the rising application of tunable laser in aerospace & defense sector is expected to promote potential opportunities for the growth of the tunable laser market. Tunable lasers are used in the aerospace & defense sector for applications including targeting & ranging, remote sensing & imaging, laser illuminators, and other related applications. However, high cost associated with the utilization of tunable laser is hindering the growth of the market.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 22,122.74 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 8.9% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Coherent Corp., EKSPLA, EXFO Inc., HUBNER Photonics, Amplitude Laser, Luna Innovations, Newport Corporation, Santec Corporation, Thorlabs Inc., and TOPTICA Photonics AG |
| By Type | Gas Lasers, Solid-state Lasers, Free Electron Lasers, and Others |
| By End-User | Telecommunication, Healthcare, Automotive, Aerospace & Defense, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Tunable Laser Market Growth Drivers:
- Rising utilization of tunable laser in telecommunication sector is driving the market growth.
- Growing automotive industry is spurring the market growth.
Restraints
- High cost associated with tunable laser is restraining the market growth.
Opportunities
- Rising application of tunable laser in aerospace & defense sector is expected to promote potential opportunities for market growth.
Global Tunable Laser Market Segmentation Details:
Based on type, the solid-state lasers segment contributed the largest shares to the market growth in 2022. The benefits of solid-state lasers including high efficiency, flexible design, high output power density, excellent wavelength adjustability, and strong power scaling ability are primary aspects driving the growth of the segment. Additionally, the increasing utilization of solid-state lasers in telecommunication, automotive, aerospace & defense, and healthcare industries is driving the growth of the solid-state lasers segment.
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Based on end-user, the telecommunication segment accounted for the maximum revenue share in the year 2022. Tunable lasers are primarily used in the telecommunication sector for application in fiber optics communication systems and telecom equipment for high-speed networking and data transfer. Factors including the increasing demand for wireless communication, growing penetration of 5G infrastructure, and rising need for advanced communication devices are among the key prospects fostering the growth of the telecommunication segment.
Based on region, North American region accounted for the largest revenue share in the year 2022. The growth of multiple industries including telecommunication, automotive, healthcare, and other sectors is driving the growth of tunable laser market in North America. Further, the rising investments in healthcare and aviation & defense sectors among others are further boosting the growth of the market in the North American region.
Recent Developments
- In October 2020, EKSPLA launched its new PT403 series of tunable laser. The PT403 series of tunable laser offers relatively smaller footprint, higher stability, shorter installation time, and other substantial benefits.
Key Market Highlights
- Globally, tunable laser market is divided based on the type into gas lasers, solid-state lasers, free electron lasers, and others.
- In the context of end-user, the market is separated into telecommunication, healthcare, automotive, aerospace & defense, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in tunable laser market.
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List of Major Global Tunable Laser Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Coherent Corp.
• EKSPLA
• EXFO Inc.
• HUBNER Photonics
• Amplitude Laser
• Luna Innovations
• Newport Corporation
• Santec Corporation
• Thorlabs Inc.
• TOPTICA Photonics AG
Global Tunable Laser Market Segmentation:
- By Type
- Gas Lasers
- Solid-state Lasers
- Free Electron Lasers
- Others
- By End-User
- Telecommunication
- Medical
- Automotive
- Aerospace & Defense
- Others
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Key Questions Covered in the Tunable Laser Market Report
- What is tunable laser?
- Tunable lasers refer to a type of laser whose wavelength of operation can be adjusted in a controlled manner. Tunable lasers are primarily composed of a gain section, phase section, and a mirror section, which helps in generating an adjustable phase shift between the reflector and gain material.
- What is the dominating segment in the tunable laser market by type?
- In 2022, the solid-state laser segment accounted for the highest market share in the overall tunable laser market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the tunable laser growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing demand for tunable laser from multiple industries including telecommunication, automotive, and healthcare industries among others is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and growth of multiple industries such as automotive, telecommunication, and others.
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