Global Ultrafast Laser Market Grows at a Staggering CAGR of 17.10%

Introduction

An ultrafast laser is a type of laser that emits light pulses that last only a few femtoseconds or picoseconds. An average person blinks about every 100 trillionth of a second, which is how long an ultrafast laser pulse lasts. These nanosecond timescales are getting closer to the fundamental atomic, molecular, and chemical processes and reactions that are once hidden from human sight. Some factors propelling the global ultrafast laser sector include using tetra hertz spectroscopy, rising quality requirements in industrial projects, and rising consumer electronics demand. Additionally, industry participants will have room for growth because of the need for high bandwidth and data transfer rates throughout the anticipated period.

Market Dynamics

Use of Tetra Hertz Spectroscopy Drives the Global Market

Tetra hertz (THz) spectroscopy uses electromagnetic fields produced by THz waves with a frequency between 1011 and 1013 Hz to detect and control the physical characteristics of materials. Due to swift technical advances, THz spectroscopy has been proven helpful in physics, chemistry, materials science, medicine, pharmacy, and biology. It has proven an effective detection technique in various fields, including chemistry, biochemistry, astronomy, protein characterization, cancer diagnostics, security, communications, and manufacturing.

The availability of cutting-edge laser technologies, which provide dependable, inexpensive, and transportable sources for THz imaging and spectroscopy, has also contributed to the growth in the popularity of THz spectroscopy. New techniques using sturdy laser modules as optoelectronic sources are expected to usher in a new era of real-world terahertz applications. The increased use of tetra hertz spectroscopy is expected to increase the global market for ultrafast lasers during the research period.

Requirement for High Bandwidth and High Data Transfer Capacities Creates Tremendous Opportunities

The big data and cloud computing era is driving the interconnection strategies among cloud service providers, data center providers, and major corporations to have solutions for data transfer that are low cost, more energy efficient, and have higher bandwidths. Optical fibers offer a broader bandwidth when employing an ultrafast laser than traditional copper lines.

For the past 20 years, the telecommunications industry has used ultrafast laser technology as a platform for research and development. The adoption rate of the ultrafast laser in different sectors could be higher. It has been utilizing ultrafast lasers for optical communication on a larger scale. Further, a wide bandwidth is required to overcome the inherent signaling constraints of copper conduction wires due to the rapid growth of microprocessors and computer systems. Optical signaling offers technological advantages over copper signaling and lower maintenance and support expenses.

Regional Analysis 

North America is the primary source of income and is projected to exhibit a CAGR of 16.50% over the projection period. North America has the most significant global ultrafast laser market share. The region saw phenomenal market expansion due to sizable corporations heavily spending on developing ultrafast laser technologies in developed countries like the US and Canada. Diode-pumped and fiber lasers are widely used in various industry verticals, including medical and biopharma, industrial manufacturing, scientific research, and consumer electronics, which is driving the market expansion in North America. The US medical equipment industry's growing adoption of ultrafast laser technology is causing the market to grow.

Asia-Pacific is anticipated to exhibit a CAGR of 17.75% during the projection period. Asia-Pacific, which has the second-largest market share, dominates the ultrafast laser market. The growing development and use of fiber laser technology in China, Japan, India, Australia, New Zealand, and Malaysia drive market expansion in this area. Asia-Pacific saw a significant increase in demand for ultrafast lasers for consumer electronics, aerospace, and defense applications. The Asia-Pacific region's gas and medical equipment producers have begun using ultrafast fiber lasers, which has helped the regional market growth.

Key Highlights

• The global ultrafast laser market was valued at USD 1,499.10 million in 2022. It is projected to reach USD 6,206.44 million by 2031, growing at a CAGR of 17.10% during the forecast period (2023-2031).
• The global ultrafast laser market is bifurcated based on type into fiber lasers, titanium-sapphire, diode-pumped, mode-locked, and diode. The segment is the highest contributor to the market and is estimated to grow at a CAGR of 18.60% during the forecast period.
• Based on average power, the global market is bifurcated into 120mW-500mW, 500mW, and 0.5mW-120mW. The 120mW-500mW segment is the highest contributor to the market and is estimated to grow at a CAGR of 17.80% during the forecast period.
• Based on repetition rate, the global ultrafast laser market is bifurcated into 80MHz-100MHz, 40MHz-8OMHz, 0.5 MHz-40MHz. The 80MHz-100MHz segment is the highest contributor to the market and is estimated to grow at a CAGR of 17.70% during the forecast period.
• The global ultrafast laser market is bifurcated based on applications in biomedical, materials processing, spectroscopy and imaging, science and research, and others. The biomedical segment is the highest contributor to the market and is estimated to grow at a CAGR of 18.50% during the forecast period.
• North America is the major revenue contributor and is expected to grow at a CAGR of 16.50% during the forecast period.

Competitive Players

Competitive Players

The global ultrafast laser market's major key players are IPG Photonics Corporation, IMRA America, Inc, Jenoptik Laser Gmbh, Laser Quantum Ltd, Lumentum Operations LLC, Newport Corporation, NKT Photonics, Inc, Resonetics LLC, content Inc, Amplitude Systems, Attodyne Inc, Clark-MXR, Inc, Epilog Laser, DPSS Lasers, Inc, and Epilog Laser.

Recent Developments

Market News

• In February 2022, Jenoptik announced its strategic partnership with Accretech. The companies combined their economic and technological strengths to create added value for the Japanese industry. Thus, Jenoptik gained another formidable distribution partner.
• In January 2022, Light Conversion introduced the microscopy-specific femtosecond laser sources CRONUS-2P and CRONUS-3P. Functional neuroimaging, optogenetics, deep imaging using medium-repetition-rate three-photon excitation, and rapid high-repetition-rate two-photon imaging are among its applications.

Segmentation

Global Ultrafast Laser Market: Segmentation

By Type

• Titanium-Sapphire
• Diode-Pumped
• Fiber Lasers
• Mode-Locked Diode

By Average Power

• 0.5mW-120mW
• 120mW-500mW
• 500mW<

By Pulse Duration

• Femtosecond
• Picosecond

By Repetition Rate

• 0.5 MHz-40MHz
• 40MHz-80MHz
• 80MHz-100MHz

By Applications

• Biomedical
• Materials Processing
• Spectroscopy and Imaging
• Science and Research
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA