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The tunable laser market share is expected to increase by USD 532.78 million from 2021 to 2026, at a CAGR of 8.67%.
This tunable laser market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers tunable laser market segmentation by type (solid state, free electron laser, gas, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The tunable laser market report also offers information on several market vendors, including Agilent Technologies Inc., AT and T Inc., Emcore Corp., EXFO Inc., Focused Photonics Inc., Fujitsu Ltd., HUBNER GmbH and Co. KG, II VI Inc., Leonardo Spa, Lucent Technology Ltd., Luminar Technologies Inc., Luna Innovations Inc., Mettler Toledo International Inc., MKS Instruments Inc., NeoPhotonics Corp., Santec Corp., TOPTICA Photonics AG, Viavi Solutions Inc., and Yokogawa Electric Corp. among others.
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The growth in adoption of nanotechnology across sectors is notably driving the tunable laser market growth, although factors such as the availability of substitutes for tunable lasers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the tunable laser industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Tunable Laser Market Driver
One of the key factors driving growth in the tunable laser market is the growth in the adoption of nanotechnology across sectors. Technological advances in the healthcare sector have increased the demand for sophistication. Therefore, vendors that specialize in providing technological instruments and machinery are investing mainly in the development of diagnostic systems that use nanotechnology. The integration of nanotechnology in the healthcare sector would significantly help in speeding up the entire diagnostic process, thereby complementing the primary goal of diagnostics to identify a medical problem in the shortest time. Governments and technology firms are investing in the development of nanotechnology because of its wide applications in areas like electronics, biomaterials, microfabrication, and medicine. Thus, it is anticipated that nanotechnology will be one of the major end-user segments of tunable lasers and, in turn, will drive the market in focus.
Key Tunable Laser Market Trend
The rapid developments in autonomous vehicle technology is a tunable laser market trend that is expected to have a positive impact in the coming years. Companies such as Continental AG, Robert Bosch GmbH, and others are working on expanding the autonomous driving concept. Such efforts have widened the market acceptance of semi-autonomous features in passenger and commercial vehicles. Self-driving cars may become a reality by the end of the forecast period, and in a decade, it will likely be possible to see a sizeable number of self-driving vehicles. Major automotive players mentioned above are already at advanced levels of achieving such a reality. Tunable lasers are used in automotive LiDAR of autonomous vehicles, and in turn, the growing demand for autonomous vehicles will drive the market in focus during the forecast period.
Key Tunable Laser Market Challenge
The availability of substitutes for tunable lasers will be a major challenge for the tunable laser market during the forecast period. Many market participants prefer to use traditional lasers such as zirconia, mercury, and paramagnetic analyzers instead of tunable lasers. Zirconia-based traditional lasers are highly preferred for measurements of parts per million (ppm) to % levels of oxygen (O2) in a gas or mixture of gases. Other prominent substitutes for tunable lasers are paramagnetic analyzers. Since O2 is a paramagnetic gas, it gets attracted to the magnetic field in the analyzer, which generates a signal to the feedback system within the analyzer. Since these alternatives cost significantly less compared with tunable lasers, many small-scale manufacturing plants, and industries that are not capable of making a high capital investment are integrating other types of traditional lasers instead of tunable lasers. This is expected to limit the adoption of tunable lasers.
This tunable laser market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global tunable laser market as a part of the global electronic equipment and instruments market within the overall electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the tunable laser market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the tunable laser market encompasses successful business strategies deployed by the key vendors. The tunable laser market is fragmented and the vendors are deploying growth strategies such as launching innovative products to compete in the market.
agilent.com - The company offers tunable lasers namely Agilent 8700 LDIR.
agilent.com - The life sciences and applied markets segment provide application-focused solutions that include instruments and software to identify, quantify, and analyze the physical and biological properties of substances and products.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The tunable laser market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the tunable laser market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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30% of the market’s growth will originate from APAC during the forecast period. China, South Korea, and Japan are the key markets for tunable lasers in APAC. Market growth in this region will be faster than the growth of the market in the European and South American regions.
The demand for semiconductor integrated circuits (ICs) is growing in the region because of the increasing use of electronic components across various industries, especially the automotive, consumer electronics, and telecommunication industries. This will facilitate the tunable laser market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The regional market witnessed a decline in demand in 2020 due to the COVID-19 outbreak. Many end-user industries, such as aerospace, automotive, electrical and electronics, and industrial machinery, temporarily shut down their operations due to the pandemic. The regional market witnessed a decline in demand in 2020 due to the COVID-19 outbreak. Many end-user industries, such as aerospace, automotive, electrical and electronics, and industrial machinery, temporarily shut down their operations due to the pandemic.
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The tunable laser market share growth in the solid state segment will be significant during the forecast period. Solid state tunable lasers find applications in metal processing, medical applications, such as eye surgery, red - green - blue (RGB) light sources in laser printers and projectors, and environmental instrumentation. Thus, the wide application of solid-state tunable lasers will drive growth in the market in focus during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the tunable laser market size and actionable market insights on post COVID-19 impact on each segment.
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Tunable Laser Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 8.67% |
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Market growth 2022-2026 |
$ 532.78 million |
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Market structure |
Fragmented |
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YoY growth (%) |
10.31 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 30% |
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Key consumer countries |
US, China, South Korea, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Agilent Technologies Inc., AT and T Inc., Emcore Corp., EXFO Inc., Focused Photonics Inc., Fujitsu Ltd., HUBNER GmbH and Co. KG, II VI Inc., Leonardo Spa, Lucent Technology Ltd., Luminar Technologies Inc., Luna Innovations Inc., Mettler Toledo International Inc., MKS Instruments Inc., NeoPhotonics Corp., Santec Corp., TOPTICA Photonics AG, Viavi Solutions Inc., and Yokogawa Electric Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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