August 01, 2017
Wellesley, Mass., Aug 01, 2017— Quantum cascade laser (QCL) technology is less expensive, smaller, lighter and faster than conventional sensing technologies for developing innovative products with greater functionality. These benefits, along with continuing advancements in QCL technology and the rising popularity for items that use the technology, should drive the global market for QCL to reach $9.7 billion in 2021, up from $6.1 billion in 2016, with a 9.7% CAGR, according to Global Markets for Quantum Cascade Lasers.
The BCC Research analysis also reports that most opportunities in the quantum cascade laser market are application driven. A burgeoning of applications is projected to emerge chiefly due to the expanded utilization of sensors. For example, the use of fiber optic sensors is gaining favor in oil and gas exploration and civil engineering largely for security purposes.
The estimation of the quantum cascade laser market is calculated considering that most of the lasers available on the market are integrated into one device. Many alternatives to conventional lasers can be considered as failed technologies. Thus, the need for better safety and security of the workforce and resulting growth laser technology also are key drivers of the market.
"The lack of industrial standards of operations and non-interoperability of technologies, as well as the high cost as compared with conventional lasers, are market restraints," says Sinha G. Gaurav, BCC Research analyst who authored the report. "If the quantum cascade laser market were at a different stage of its evolution, these restraints could act as a hindrance to market growth. However, it is expected that further technological advances will bring cost corrections and that standards of operation will improve. "
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Global Markets for Quantum Cascade Lasers( PHO026A )
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