Global Ultrafast Laser Market Highlights
The global Ultrafast Laser Market is projected to be valued
at USD 3521.2 million by the end of 2027, registering a CAGR of over 16.9%
during the forecast period.
Ultrafast lasers emit ultrashort pulses of light
with an electromagnetic pulse, whose time duration is of a picosecond or less.
These pulses have a broad optical range and can be produced by mode-locked
oscillators. The ultrafast lasers are commonly referred to as ultrafast events
with the amplification of ultra-short pulses, which always require high pulse
amplification to prevent damage to the amplifier's gain medium.
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The various factors driving the growth of the global
ultrafast laser market are the adoption of terahertz spectroscopy, the growing
quality requirement in industrial projects, and the increasing demand for
consumer electronics. Terahertz (THz) spectroscopy is a rapidly evolving
spectroscopic method that detects and controls properties of matter with
electromagnetic fields created using THz waves ranging from 1011 to 1013 Hz.
Rapid advancements in technology have proven the capability of THz spectroscopy
in fields of physics, chemistry, materials science, medicine, pharmacy, and
biology. It has proven to be a promising detection technology for many
applications such as medical imaging, pharmaceutical quality control, protein
characterization, cancer detection, security, scientific imaging (chemistry,
biochemistry, and astronomy), communications, and manufacturing.
Furthermore, the need for high bandwidth and high
data transfer capabilities creates growth opportunities for the market players
during the forecast period.
COVID-19 Impact Analysis
The manufacturing industry, which contributes
approximately 17% to the global GDP, is one of the severely impacted industries
throughout the COVID-19 pandemic. China is the epicenter of this pandemic and
is also the hub for most raw material suppliers that provide raw materials and
components to several manufacturing units across the world. The global lockdown
has restricted the production of these manufacturing facilities, derailing the
entire supply chain. Approximate 82% of the manufacturing industries have their
component suppliers based in China. This has directly impacted the global FDI
inflows, and thus, several economies across the world have faced a significant
downturn.
Segment Analysis
On the basis of type, the global ultrafast laser
market has been segmented into titanium sapphire, diode-pumped, mode-locked,
and fiber laser. The fiber lasers segment held the largest market share in 2019
and is expected to register a CAGR of 18.6% during the forecast period. These
lasers possess high pointing stability, offer consistent beam quality, and
provide a wide variety of wavelengths. Most of the femtosecond fiber lasers are
used in performing eye surgeries
By pulse duration, the ultrafast laser market has
been categorized into femtosecond and picosecond. Femtosecond ultrafast lasers
emit light pulse duration below one ps, also known as ultrashort pulse.
Picosecond ultrafast lasers emit light pulse duration between 1 ps and tens of
picoseconds.
By average power, the ultrafast laser market has
been categorized into 120mW–500mW, 500mW<, and 0.5mW–120mW. In 2019, the
120mW–500mW segment accounted for amarket value of USD 512.7 million.
By repetition rate, the ultrafast laser market has
been categorized into 80MHz–100MHz, 40MHz–80MHz, and 0.5 MHz–40MHz. In 2019,
the 40MHz–80MHz segment was valued at USD 428.0 million.
By application, the ultrafast laser market is
divided into biomedical, material processing, spectroscopy & imaging,
science & research, and others. In 2019, the biomedical segment was
valuedat USD 463.7 million,while in the same year, thematerials processing
segment was valued at USD 274.3 million.
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