Ultrafast Lasers Market Size (2021-2031) and Regional Overview
The ultrafast lasers market size is projected to reach US$ 4.20 billion by 2031 from US$ 1.61 billion in 2023. The market is expected to register a CAGR of 12.7% during 2023–2031. Increasing technological innovations and the implementation of ultrafast lasers in diverse industry applications are likely to remain key trends and drivers in the market.
Ultrafast Lasers Market Analysis
The ultrafast lasers market is experiencing significant growth globally. The growth is attributed to parameters such as increasing technological innovations and the implementation of ultrafast lasers in diverse industry applications. Moreover, expanding applications of laser technology and the growing emergence of start-ups are anticipated to hold several opportunities for the market.
Ultrafast Lasers Market Overview
Ultrafast lasers are identified to generate very short light pulses, commonly of the order of femtoseconds or picoseconds. Ultrafast lasers are founded on techniques like mode-locking to form a train of pulses and have newly been successful due to the new advancements in photonics. Such developments in laser technology have allowed the generation of pulses reaching between a few femtoseconds to tens of attoseconds.
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Ultrafast Lasers Market: Strategic Insights
Market Size Value in US$ 1,467.50 Million in 2021 Market Size Value by US$ 3,048.68 Million by 2028 Growth rate CAGR of 11.0% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Ultrafast Lasers Market: Strategic Insights
| Market Size Value in | US$ 1,467.50 Million in 2021 |
| Market Size Value by | US$ 3,048.68 Million by 2028 |
| Growth rate | CAGR of 11.0% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Ultrafast Lasers Market Drivers and Opportunities
Technological Innovation and Execution of Ultrafast Lasers In Diverse Industry Applications to Favor Market.
Technological innovation and execution of ultrafast lasers in diverse industry applications are indeed driving the market growth. Ultrafast lasers are used in industries such as consumer electronics, industrial, automotive, and medical & scientific, and others. Ultrafast lasers can be useful for needs in the automotive industry. This comprises the structuring of small furrows into the surface of the cylinder wall of a combustion engine. This guarantees a thorough distribution of lubricant along the piston wall to minimize friction loss. It also presents a review of the modern advances in ultrafast laser-based manufacturing processes, some of the most interesting industrial applications, and a discussion on future trends and challenges. Thus, considering the above parameters, the increasing technological innovation and implementation of ultrafast lasers in diverse industry applications is driving the ultrafast lasers market growth.
Government Initiative to Promote the Adoption of Ultrafast Lasers.
The rising number of government initiatives to promote the adoption of ultrafast lasers is anticipated to hold several opportunities for the ultrafast lasers market. The training of a highly qualified next generation of talents is a crucial issue in several fields, and research is no exception. Drawing on his experience in the scientific and academic communities, in April 2023, NSERC set up an ambitious project to initiate a sustainable learning ecosystem in the field of ultrafast laser science and technology. NSERC offered US$1.65 million for the next generation of talents in the field of ultrafast laser science and technology.
Ultrafast Lasers Market Report Segmentation Analysis
Key segments that contributed to the derivation of the ultrafast lasers market analysis are type, pulse duration, and application.
- Based on type, the ultrafast lasers market is divided into diode-pumped lasers, mode-locked diode lasers, titanium-sapphire lasers, and fiber lasers. The diode-pumped lasers segment is anticipated to hold a significant market share in the forecast period.
- Based on pulse duration, the ultrafast lasers market is divided into picosecond and femtosecond. The picosecond segment is anticipated to hold a significant market share in the forecast period.
- By applications, the market is segmented into consumer electronics, industrial, automotive, and medical & scientific. The consumer electronics segment is anticipated to hold a significant market share in the forecast period.
Ultrafast Lasers Market Share Analysis by Geography
The geographic scope of the ultrafast lasers market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the ultrafast lasers market. High technology adoption trends in various industries in the North American region have fuelled the growth of the ultrafast lasers market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American ultrafast lasers market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of ultrafast laser market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the ultrafast lasers market.
Ultrafast Lasers Market Report Scope
Ultrafast Lasers Market News and Recent Developments
The ultrafast lasers market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the ultrafast lasers market are listed below:
- MKS Instruments, Inc. introduced its Spectra-Physics IceFyre FS IR200 laser, an industrial femtosecond laser offering >200 W power and >200 µJ pulse energy with ultrashort <500 fs pulses in the infrared (IR). (Source: MKS Instruments, Inc, Company Website, June 2023)
- Chromacity announced a strategic partnership agreement with Edmund Optics for the global supply and distribution of its ultrafast lasers. The announcement coincides with the launch of Chromacity’s latest ultrafast laser emitting light at 920 nm. (Source: Chromacity Company Website, February 2024)
Ultrafast Lasers Market Report Coverage and Deliverables
The “Ultrafast Lasers Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Ultrafast lasers market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Ultrafast lasers market trends as well as market dynamics such as drivers, restraints, and key opportunities.
- Detailed PEST/Porter’s Five Forces and SWOT analysis.
- Ultrafast lasers market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the ultrafast lasers market.
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Pulse Duration , and Application and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The increasing emergence of start-ups is anticipated to drive the market in the forecast period.
The key players holding majority shares in the global ultrafast lasers market are Amplitude Systemes, Coherent Inc., Dpss Laser Inc., Femtolasers Productions Gmbh, Fianiijm Ltd, Huaray Laser, Jenoptik Ag, Kmlabs, Laser Quantum Ltd, Viavi Solutions.
North America is anticipated to dominate the ultrafast lasers market in 2023.
Increasing technological innovations and the implementation of ultrafast lasers in diverse industry applications are some of the factors driving the ultrafast lasers market.
The global ultrafast lasers market is expected to reach US$ 4.20 billion by 2031.
The expected CAGR of the ultrafast lasers market is 12.7%.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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