Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 452.3 Million | USD 716.99 Million | 4.7% | 2023 |
According to Zion Market Research, the global Quantum Cascade Laser Market was worth USD 452.3 Million in 2023. The market is forecast to reach USD 716.99 Million by 2032, growing at a compound annual growth rate (CAGR) of 4.7% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Quantum Cascade Laser industry over the next decade.
Quantum cascade lasers are semiconductor lasers that emit in range of mid to high infrared. Moreover, this was exhibited by Jerome Faist, Dehorah Sivco, Albert Hutchinson, Federico Capasso, Carlo Sirtori, and Alfred Cho in Bell labs during 1994. They find lucrative application in the domain of chemical physics including helium drops research, matrix isolation infrared photochemistry, and population pumping. Manufacturers of the product are focusing on designing operating wavelengths in the range of microns of more than 10 micrometers.
Massive utilization of quantum cascade lasers in chemical detection and gas sensors along with escalating use of the product in healthcare sector will steer the expansion of quantum cascade lasers market in the foreseeable future. Apart from this, the new technology finds widespread application in bio-medicine, defense, sensing, and homeland security domains. Apparently, the high powered lasers having low rate of failure, elongated life span, and strong fabricating property and this will steer the demand for the quantum cascade lasers in the near future.
Furthermore, the product finds humungous number of applications in biology as well as biotechnology fields for determining non-invasive blood glucose. In addition to this, large-scale use of quantum cascade laser systems for free-space communication as well as manifold gas sensing technique is slated to generate lucrative growth avenues for the industry over the forthcoming years. Nonetheless, huge quantum cascade lasers costs and surge in the deployment costs are predicted to impede the business growth over the forecast timespan.
Report Attributes | Report Details |
---|---|
Report Name | Quantum Cascade Laser Market |
Market Size in 2023 | USD 452.3 Million |
Market Forecast in 2032 | USD 716.99 Million |
Growth Rate | CAGR of 4.7% |
Number of Pages | 110 |
Key Companies Covered | Eluxi Ltd., Akela Laser Corporation, Thorlabs, mirSense, Picarro Inc, Hamamatsu Photonics K.K., Longwave Photonics, Aerodyne Research Inc., Block MEMS, Emerson Electric Co., Pranalytica, Wavelength Electronics Inc, Boston Electronics Corporation, PNNL, DRS Daylight Solutions, MG Optical, Lasermax Inc., nanoplus Nanosystems Technologies GmbH, Alpes Laser, Power Technology Inc., SacherLaser Technik, and AdTech Optics |
Segments Covered | By Fabrication Technology, By Operation Mode, By Packaging Type, By End User And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The expansion of the quantum cascade laser industry over the estimated timespan is due to huge penetration of quantum cascade lasers across defense, industrial, and medicine sectors in the region. Apart from this, escalating industrial growth in the countries like India and China have resulted in burgeoning demand for the quantum cascade laser technology and this will prompt the regional market expansion over the estimated timespan.
Key players profiled in the report include:
The global quantum cascade laser market is segmented as follows:
By Fabrication Technology:
By Operation Mode:
By Packaging Type:
By End User:
By Region
FrequentlyAsked Questions
Massive utilization of quantum cascade lasers in chemical detection and gas sensors along with escalating use of the product in healthcare sector will steer the expansion of quantum cascade lasers market in the foreseeable future. Apart from this, the new technology finds widespread application in bio-medicine, defense, sensing, and homeland security domains. Apparently, the high powered lasers having low rate of failure, elongated life span, and strong fabricating property and this will steer the demand for the quantum cascade lasers in the near future.
According to Zion market research report, the global Quantum Cascade Laser market, which was estimated at 350 (USD Million) in 2019 and is predicted to accrue earnings worth 468 (USD Million) by 2026, is set to record a CAGR of nearly 4% over 2020-2026.
Asia Pacific is likely to make noteworthy contributions towards overall market revenue. The growth can be credited to huge penetration of quantum cascade lasers across defense, industrial, and medicine sectors in the region. Apart from this, escalating industrial growth in the countries like India and China have resulted in burgeoning demand for the quantum cascade laser technology and this will prompt the regional market expansion over the estimated timespan.
The key players profiled in the report include Eluxi Ltd., Akela Laser Corporation, Thorlabs, mirSense, Picarro Inc, Hamamatsu Photonics K.K., Longwave Photonics, Aerodyne Research Inc., Block MEMS, Emerson Electric Co., Pranalytica, Wavelength Electronics Inc, Boston Electronics Corporation, PNNL, DRS Daylight Solutions, MG Optical, Lasermax Inc., nanoplus Nanosystems Technologies GmbH, Alpes Laser, Power Technology Inc., SacherLaser Technik, and AdTech Optics.
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