Asia Pacific Tunable Lasers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type [Solid-State, Gas, Free-Electron Laser (FEL), and Others], End-User (Manufacturing, Telecommunications, Medical & Biotechnology, Aerospace, Electronics & Semiconductor, and Others), Technology [Cavity Diode Laser (DBR), Distributed Bragg Reflector (DFB), Vertical Cavity Surface Emitting Lasers (VCSELs), and Micro Electro Mechanical System (MEMS)], and Wavelength (Less than 1000 nm, 1000-1500 nm, and Above 1500 nm)
The tunable lasers market in Asia-Pacific is expected to grow from US$ 419.83 million in 2021 to US$ 791.57 million by 2028; it is estimated to grow at a CAGR of 9.5% from 2021 to 2028.
The deployment of tunable lasers in the manufacturing & industrial sectors is mainly driven by the increased application of optical technologies for the mass production of consumer devices. The demand for tunable lasers in semiconductor & materials processing applications has increased with the growth of consumer electronics applications, including micro sensing, flat panel displays, and lidar. They are also used in industrial fiber optics sensing applications, including distributed strain, temperature mapping, and distributed shape measurement.. Furthermore, the growing use of holographic optical elements in augmented reality (AR) displays has increased the usage of tunable lasers.
Due to the COVID-19 outbreak, Asia-Pacific is expecting to witness huge economic challenges. Asia-Pacific is characterized by the presence of various developing countries, high industrial growth, a positive economic outlook, and a large population. Moreover, manufacturing is one of the most significant industries in the Asian economy due to the growing need for industrial and consumer products. However, the government imposed lockdowns, travel restrictions, and trade bans have disrupted and delayed the various industries' operations, such as manufacturing. Thus, the slowdown of major industries in Asia-Pacific has subsequently affected the demand for ultrafast lasers, which hampered the market growth. Further, the original equipment manufacturer (OEM) have also faced challenges in procuring raw material due to supply chain disruptions, thereby restraining their production process.
Asia-Pacific Tunable Lasers Market Revenue and Forecast to 2028 (US$ Million)
Asia-Pacific Tunable Lasers Market Segmentation
Asia-Pacific Tunable Lasers Market - By Type
Solid-State Gas Free-Electron Laser Others Asia-Pacific Tunable Lasers Market - By End-User
Manufacturing Telecommunications Medical & Biotechnology Aerospace Electronics & Semiconductor Others Asia-Pacific Tunable Lasers Market - By Technology
Cavity Diode Laser Distributed Bragg Reflector Vertical Cavity Surface Emitting Lasers (VCSELs) Micro Electro Mechanical System (MEMS)Asia-Pacific Tunable Lasers Market - By Wavelength
Less than 1000 nm 1000-1500 nm Above 1500 nm Asia-Pacific Tunable Lasers Market- By Country
Australia China India Japan South Korea The Rest of Asia-Pacific Asia-Pacific Tunable Lasers Market-Companies Mentioned
Coherent, Inc. EMCORE Corporation EXFO Inc. FURUKAWA ELECTRIC CO., LTD HÜBNER Gmb H & Co. KG KEYSIGHT TECHNOLOGIES Lumentum Operations LLC Luna Innovations Inc. Neo Photonics Corporation SANTEC CORPORATION Toptica Photonics AG
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