Report : North America 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)Â
Solid-State Segment to Dominate North America Tunable Lasers Market during 2019–2028
According to a new market research study on “North America Tunable Lasers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, End-User, Technology, and Wavelength,” is expected to reach US$ 526.39 million by 2028 from US$ 248.62 million in 2021. The market is estimated to grow at a CAGR of 11.3% from 2021 to 2028. Increasing strategic initiatives by major players is the major factor driving the growth of the North America tunable lasers market. However, supply chain disruptions may hinder the growth of North America tunable lasers market. The report provides trends prevailing in the North America tunable lasers market along with the drivers and restraints pertaining to the market growth.
North America is well-known for the adoption of new advanced technologies owing to favorable government policies to boost innovation and the presence of various technology companies, especially in developed countries, such as Canada and the US. Thus, any negative impact on the growth of industries is expected to restrain the region's economic growth. The US, Canada, and Mexico witnessed a significant rise in the number of COVID-19 cases. As a result, governments were forced to impose lockdowns to limit human movement, which led to low production volumes in the manufacturing facilities that reduced the demand for ultrafast lasers. Further, disruptions in the logistic framework at the first wave of the COVID-19 pandemic created challenges for ultrafast laser providers. However, ultrafast laser manufacturers also supply their systems to the defense & medical sector, which continued to operate during the pandemic. Therefore, ultrafast laser manufacturers were receiving orders from these crucial industries during the lockdown, creating revenue for the original equipment manufacturer (OEM).
The North America tunable lasers market segmented by type, end-user, technology, wavelength, and country. Based on type, the North America tunable lasers market is segmented into solid-state, gas, free-electron lasers, and others. In 2020, the solid-state segment held the largest share North America tunable lasers market. The North America tunable lasers market by end-user has been segmented into manufacturing, telecommunications, medical & biotechnology, aerospace, electronics & semiconductor, and others. In 2020, the telecommunications segment held the largest share North America tunable lasers market. Based on technology, the North America tunable lasers market is segmented into cavity diode laser, distributed bragg reflector, vertical cavity surface emitting lasers (VCSELs), and micro electro mechanical system (MEMS). In 2020, the cavity diode laser segment held the largest share North America tunable lasers market. Based on wavelength, the North America tunable lasers market is segmented into less than 1000nm, 1000nm-1500nm, and above 1500nm. In 2020, the 1000nm-1500nm segment held the largest share North America tunable lasers market. Similarly, based on country, the market is segmented into US, Canada, and Mexico. The US contributed a substantial share in 2020.
Coherent, Inc.; Daylight Solutions; EMCORE Corporation; EXFO Inc.; Freedom Photonics LLC; FURUKAWA ELECTRIC CO., LTD; HÜBNER GmbH & Co. KG; KEYSIGHT TECHNOLOGIES; Lumentum Operations LLC; Luna Innovations Inc.; NeoPhotonics Corporation; Pure Photonics; SANTEC CORPORATION; and Toptica Photonics AG are among the leading companies in the North America Tunable Lasers Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, COHERENT SIGNS REVISED MERGER AGREEMENT WITH LUMENTUM.
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