Tunable Laser Market: 30% of Growth to Originate from APAC, Driven by the growth in the Adoption of Nanotechnology

NEW YORK, Sept. 9, 2022 /PRNewswire/ — The tunable laser market size is set to grow by USD 532.78 million. However, the growth momentum is likely to decelerate at 8.67% from 2021 to 2026, according to the latest research report from Technavio. 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. For more highlights on the regional highlights – Request a Free Sample Report!

Tunable Laser Market – Scope of the Report

The tunable laser market covers the following areas:

Tunable Laser Market – Market Dynamics

Major Driver –

• The key factor 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.

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Major Challenges –

• 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.

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Tunable Laser Market  – Companies Mentioned

The tunable laser market is fragmented and the vendors are deploying growth strategies such as launching innovative products to compete in the market.

• 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.

• Yokogawa Electric Corp.

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The competitive scenario provided in the Tunable Laser Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don’t wait, Make a strategic approach & boost your business goals with our Tunable Laser Market Forecast Report –  Buy Now!

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Key Topics Covered:

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

About Us

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SOURCE Technavio