The global tunable lasers market is expected to witness significant growth over the forecast period owing to increasing network traffic and surging bandwidth demand. This may be attributed to growing market trends such as cloud computing, Voice over Internet Protocol (VoIP), Voice On Demand (VOD), and data centers. Tunable lasers ease the addition or deletion of bandwidth by remote control, thereby encouraging varied on-demand services, further fueling the market growth.
High smartphone penetration and social networking have created a huge requirement for network capacity, which is further anticipated to spur the need to meet network expansion demand through the usage of tunable lasers. Surging manufacturers’ need for transmitters in metro networking markets are expected to increase tunable lasers demand in the near future. Further, invaluable factors such as flexible tuning options, cost control, competitive advantage, and implementation speed for metro network carriers are anticipated to fuel tunable laser market demand extensively.
Highly lucrative opportunity in fiber optic components market including tunable lasers is expected to propel tunable laser market demand owing to an increase in capacity through dynamic configurability. The global tunable lasers market is expected to develop and expand over the next few years owing to factors such as continuous technology innovation, decelerating product prices, player consolidations, and intense competition. Surging demand across a diverse range of applications such as photochemistry, spectroscopy, optical communications, and atomic vapor laser isotope separation is a key force that is expected to drive the market growth.
A tunable laser’s wavelength of operation can be altered in a controlled manner serving a wide range of applications. Tuning is possible over a few hundreds of nanometers when coupled with the right filter. It can be used for basic absorption and photoluminescence study. Further, it helps in mapping External Quantum Efficiency (EQE) of a device by adapting to solar cell characterization. The tunable lasers market is apprehended to witness significant growth in the next few years owing to the aforementioned benefits.
Widespread usage of tunable lasers in photobiology, hyperspectral imaging, detector calibration, and spectroscopy (reflection & transmission) further fuels tunable lasers market demand. Extensive application of tunable lasers in medical segments including therapeutic and diagnostic applications is expected to drive the tunable laser market significantly. Further, upsurge in demand for laser-based facial and skin rejuvenation treatments is expected to accelerate demand for CO2 lasers, which in turn drives the tunable laser market growth. Additionally, advancement in chemistry and nanotechnology inflates applications of optics in the medical sector, which further pushes the boundaries for tunable lasers. Tunable lasers market demand is foreseen to surge due to its usage in hyperspectral imaging development to facilitate early retinal disease detection.
However, despite inherent applications and benefits, the tunable lasers market may be hampered by costs, reliability, and supply guarantees. Additionally, the weak performance of earlier predecessors may pose a major threat to this market. Network providers are thus finding opportunities to deliver highly reliable and performable tunable laser solutions with prices not more than fixed wavelength lasers.
Tunable lasers widely used are categorized as gas, liquid, and solid and used as per their applications. The different types of tunable lasers widely used across medical and allied sectors are excimer lasers, dye lasers, CO2 lasers, transition metal solid-state lasers, free-electron lasers, semiconductor crystal, and diode lasers.
European and North American markets are anticipated to dominate the tunable laser market owing to its widespread applications. Key market participants in the global tunable lasers market comprise Coherent Inc., Agilent Technologies Inc., Daylight Solutions, EMCORE Corporation, Continuum, Finisar Corp., Fujitsu Optical Components Limited, NEC Corporation, JDS Uniphase Corporation, NeoPhotonics Corporation, Santec Corporation, Yenista Optics SA, Santur Corporation, and Oclaro, Inc. Key market participants are expected to make the market more competitive with hectic M&A activities. Further, strategic partnerships and technology transfers are anticipated to be witnessed by the global tunable lasers market.
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The exponential spread of COVID-19 worldwide has had an adverse impact on the semiconductor industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. The outbreak could result in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China, thereby reducing their over-reliance on China. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also hauled consumer demand for semiconductor devices. Our analysts predict a decline in semiconductor revenue by over 1% in 2020 as compared to that in 2019. The report will account for Covid19 as a key market contributor.