Quantum Cascade Laser Market worth $533 million by 2028 – Exclusive Report by MarketsandMarkets™

CHICAGO, July 24, 2023 /PRNewswire/ — The global quantum cascade laser market was valued at USD 429 million in 2023 and is projected to reach USD 533 million by 2028, registering a CAGR of 4.4% during the forecast period according to a new report by MarketsandMarkets™. The increasing use of quantum cascade lasers in gas sensing and chemical detection applications and the growing demand for QCLs in healthcare and medical diagnostics are among the factors driving the growth of the quantum cascade laser market.
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Browse in-depth TOC on “Quantum Cascade Laser Market” 180 – Tables50 – Figures250 – Pages
Quantum Cascade Laser Market Report Scope:
Report Coverage
Details
Market Revenue in 2023
$429 million
Estimated Value by 2028
$533 million
Growth Rate
Poised to grow at a CAGR of 4.4%
Market Size Available for
2019–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Fabrication Technology, Packaging Type, Operation Mode, End-User Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Manufacturing complexities of quantum cascade lasers
Key Market Opportunities
Use of quantum cascade lasers in industrial and environmental monitoring
Key Market Drivers
Growing demand for quantum cascade lasers in healthcare and medical diagnostics
By Fabrication Technology: The Fabry-Perot technology is projected to grow at the highest CAGR during the forecast period.
Fabry-Perot (FP) quantum cascade lasers (QCLs) utilize a Fabry-Perot resonator structure with two parallel mirrors, offering a broad wavelength coverage and multi-mode operation. This tunability makes them versatile for applications like spectroscopy and gas sensing. FP-QCLs have a simple design and manufacturing process, reducing costs and allowing for easier integration into existing systems. Fabry-Perot QCLs provide advantages in wavelength coverage, multi-mode operation, simplicity, and cost-effectiveness, making them suitable for various applications.
By Operation Mode: The Continuous Wave segment accounted for the largest quantum cascade laser industry share during the forecast period.
Continuous wave (CW) operation in QCLs provides a constant and stable output of laser light, ensuring reliable measurements in applications such as spectroscopy and process monitoring. It allows for longer integration times, leading to a higher signal-to-noise ratio (SNR) and improved sensitivity for gas sensing and molecular spectroscopy. CW operation simplifies system design by eliminating the need for modulation and enables efficient power consumption, making it suitable for portable devices. CW-QCLs exhibit long coherence lengths, enabling coherent beam propagation over large distances for applications like free-space optical communications. These advantages make CW operation mode highly beneficial for various applications, emphasizing its importance in QCL technology.
By End-User Industry: The Military & Defense segment is projected to grow at the highest CAGR during the forecast period.
QCLs have significant applications in the military and defense industry. They are utilized for precise sensing, targeting, infrared countermeasures, chemical and biological detection, directed energy weapons, and secure communication. With tunability, high power output, and narrow linewidth, QCLs provide advanced reconnaissance, surveillance, and target acquisition capabilities. Furthermore, QCLs enable secure communication through free-space optical communications, ensuring reliable and resistant data transmission. Overall, QCLs are crucial in enhancing operational effectiveness and capabilities in military and defense applications.
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By Region: North America is likely to account for the largest share of the quantum cascade laser market during the forecast period.
The QCL industry in North America is increasing due to technological advancements, a solid industrial base, government support, market awareness, and an established customer base. North America leads in laser technology innovation, supported by renowned research institutions and companies. The region’s diverse industries, including defense, aerospace, pharmaceuticals, and telecommunications, drive the demand for QCLs. Government funding and incentives further stimulate development and adoption. North America’s market awareness and willingness to invest in cutting-edge technologies contribute to its dominance. With a well-established customer base and infrastructure, North America remains a leading market for QCLs.
The major players in the Quantum Cascade Laser companies include Thorlabs, Inc. (US), Hamamatsu Photonics K.K. (Japan), MirSense (France), Emerson Electric Co. (US), Block Engineering. (US), Wavelength Electronics, Inc. (US), Daylight Solutions. (US), Alpes Lasers (Switzerland), nanoplus Nanosystems and Technologies GmbH (Germany), and Akela Laser Corporation (US).
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