October 23, 2018
WELLESLEY, Mass., October 23, 2018–A lack of substitutes and unmatched high-range intensity are two factors responsible for remarkable growth in the ultrafast lasers market, according to a report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 24.7% through 2022, when it could be worth approximately $8.1 billion, according to the report Ultrafast Lasers: Technologies and Global Markets.
Major players in the market include Coherent, Lumentum Holdings, IPG Photonics, Jenoptik Laser and NKT Photonics.
“At present, ultrafast lasers are used for various purposes such as nano-surgery, micro-machining, cellular imaging, manufacturing chips, etc.,” said report author Sinha G. Guarav. “The demand for a wide variety of such applications is increasingly making this a robust market for photonics suppliers.”
Market Restraints Include Technology Conflicts, High Initial Cost of Processing Devices
Though market growth is anticipated to be strong in all sectors and all regions of the world, several factors are conspiring to restrain expansion, the report adds. Chief among those are technology conflicts: the advantages of nanosecond and femtosecond lasers over millisecond and microsecond lasers are unknown, and this has slowed the transition from conventional to ultrafast lasers. Meanwhile, the high initial investment associated with laser processing devices makes it difficult for smaller enterprises to opt for these tools.
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Ultrafast Lasers: Technologies and Global Markets( PHO017C )
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