Luton, Bedfordshire, United Kingdom, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Acousto-optic Devices Market.
An overview of the world market for acousto-optic devices:
The global market for Acousto-optic Devices valued at US$346.2 Million in the year 2022, is projected to reach a revised size of US$550.3 Million by 2029, growing at a CAGR of 6% over the analysis period 2023-2029.
The global market for Acousto-Optic Devices will expand at a CAGR of more than 9% over the forecast period, predicts Exactitude Consultancy market research analysis. One of the main factors fueling market growth over the anticipated period would be the growing demand for precision in the healthcare sector. Body contouring, hair removal, LASIK, optical coherence tomography (OCT), skin resurfacing, tattoo removal, and wrinkle reduction are all common uses for lasers. Applications for laser diodes include the medicinal and aesthetic fields. During these treatments, acousto-optic devices are employed to modify the light's wavelength and keep selectivity. This makes it possible for lasers to more precisely focus their beams to avoid hurting any nearby tissues.
In order to perform various medical treatments, acousto-optic devices will increasingly be used with laser technology in spine surgery, cardiovascular surgery, and cataract surgery.
The most well-known suppliers of fibre lasers, including IPG Photonics, ROFIN-SINAR Technologies, Coherent, and Newport, are all based in North America. High speed, adaptability, precision, and anti-electromagnetic interference are all features of CO2 lasers. These lasers are being used more and more in a variety of industries, including research, communications, medicine, the military, and defence. Up to 2021, the North American market for laser processing acousto-optic devices will expand as a result of rising laser demand and a growing laser market.
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Acousto-optic Devices Market: Key Players:
Few of the key players in Acousto-optic devices market are Gooch & Housego PLC (UK), Isomet Corporation (US), Brimrose Corporation of America (US), Harris Corporation (US), AMS Technologies AG (Germany), Coherent, Inc. (US), AA Opto Electronic (France), A·P·E Angewandte Physik & Elektronik GmbH (Germany), IntraAction Corp. (US), and Lightcomm Technology Co., Ltd. (China).
Acousto-optic Devices Market Competitor Analysis
The Acousto-optic Devices market is fragmented and is a highly competitive market without dominant players present in the market. The key players are focusing on innovation in production technologies to improve efficiency. Some of the key developments in the market are:
- February 2019 - Gooch and Housego PLC partners on a new European project on miniature lasercom transceivers. This project aims to develop the next generation miniature lasercom transceivers enabling greater than 50 Gb/s satellite constellation interconnectivity.
Acousto-optic Devices Industry Segments:
Acousto-optic (AO) interaction is widely used to control electromagnetic radiation parameters, such as the direction of propagation, phase, frequency, intensity, and state of polarization. These devices need different AO materials based on the requirements for varying levels of light intensity. These devices can deflect and modulate laser. Various acousto-optic devices, such as modulators, tenable filters, and deflectors, are widely used in order to modulate the intensity and frequency of laser beams for laser scanning applications.
This research report categorizes the directed Acousto-optic Devices Market based on by Type, Application and region.
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Acousto-optic Devices Market: Drivers and Challenges:
Acousto-optic devices market has gained importance due to the growing demand of laser applications in the life science and scientific research vertical. Also, demand for acousto-optic modulators is expected to drive the growth of the market.
The demand for acousto-optic devices market has gradually increased owing to the research conducted in various fields such as imaging cytometry, photoacoustic imaging, optical coherence tomography, and multiphoton microscopy in biomedical imaging and scanning.
In addition to the above factors, scientists are using acousto-optic devices with laser technology for research in areas such as femtosecond micromachining, two-photon polymerization, and semiconductor metrology. In the life science and scientific research vertical, there is a wide usage of various such as modulators, deflectors, and tunable filters in this vertical which is required to modulate the frequency and intensity of laser beams for laser scanning applications.
One of the restraining factor of acousto-optic devices market can be the high initial cost and increasing requirement-specific research and development expenses on this technology.
Acousto-optic Devices Market Trends:
This section covers the major market trends shaping the Acousto-optic Devices Market according to our research experts:
Laser Processing to Drive the Market Growth
- Laser-based manufacturing is increasingly being used in the semiconductor and the automotive industries. With the increase in demand for semiconductor wafers and discrete semiconductor components, various semiconductor companies increased their manufacturing capacities.
- According to SEMI Silicon Manufacturers Group (SMG), the global silicon wafer area shipments increased by 2.7% to 2,920 million square inches in the first quarter of 2020, compared to the fourth quarter of 2019, with shipments of 2,844 million square inches, but dropped by 4.3% year-over-year. The increase in the number of shipments indicates the rise in demand for expanding manufacturing capacities, necessitating the use of laser-based machines, thereby augmenting the market's growth.
- For instance, in May 2020, Taiwan Semiconductor Manufacturing Co. announced its plans to spend USD 12 billion on building a chip plant in Arizona, a decision designed to allay US national security concerns regarding protecting global supply chains amid the coronavirus pandemic and shift more high-tech manufacturing to America.
Also, the growing trend toward laser-based fiber optic sensing systems for robotics applications, as they offer maximum precision and repeatability needed to control and measure very fine movement, is anticipated to augment the demand in the market studied. The market for acousto-optic devices is expected to benefit from the growing need for laser devices in the healthcare vertical for LASIK surgery, hair removal, tattoo removal, skin resurfacing, wrinkle reduction, optical coherence tomography, body contouring, etc.
Reasons to Buy:
The nature of Acousto-optic Devices business opportunities has grown in complexity with the industry evolving at a greater pace, making it increasingly difficult to go without adequate information on markets and companies.
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