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.
The Ultrafast laser service has been put to use across industries like manufacturing for many decades now. For powerful and clear-cut processing to be carried out by the manufacturing units, excellent quality of materials like ultrafast lasers is used as they ensure a high level of accuracy. Also, to re-introduce the innovative initiations in the marketplace, the ultrafast lasers make use of a short light pulse with the help of an electromagnetic pulse. The time duration of this is very less or that of a picosecond.
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Industry Highlights
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. Furthermore, the need for high bandwidth and high data transfer capabilities creates growth opportunities for the market players during the forecast period.
Segment Analysis
The global ultrafast laser market has been segmented on the basis of type, pulse duration, average power, repetition rate, application, and region.
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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