Laser Interferometer Market Value to Reach US$ 438.6 Million by 2031, Transparency Market Research, Inc.

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Jan 06, 2023, 06:30 ET

Increase in adoption of industrial automation is likely to fuel demand for laser interferometers
The homodyne segment of the laser interferometer market is anticipated to grow at a CAGR of 7.1% during the forecast period
Robust automotive industry is expected to drive market expansion in Asia Pacific

WILMINGTON, Del., Jan. 6, 2023 /PRNewswire/ -- The global laser interferometer market is projected to expand at a CAGR of 6.6% from 2022 to 2031, according to market outlook presented in a study by Transparency Market Research (TMR).

Quality control is of prime importance for companies operating in the industrial sector. Laser interferometers find applications in optometry, velocimetry, and surface profiling. These devices are gaining traction owing to advantages such as long-range optical path, high accuracy, easy installation, and high repeatability. Usage of these devices is driven by increase in demand for rapid and precise inspection & monitoring of the quality of finished products, assembled parts, and components. Moreover, laser interferometers play a key role in precisely measuring large objects and coordinating metrology solutions.

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Laser Interferometer Market: Key Findings

Emerging economies across the globe are increasing investment in industrial automation. This is expected to create significant opportunities in the laser interferometer market during the forecast period. Adoption of cloud computing, big data analytics, and industry 4.0 is increasing across various industries. Moreover, demand for superior quality products is rising. Hence, companies from different industry verticals are focusing on automating various production processes in order to achieve high accuracy and precision. This factor presents profitable prospects for laser interferometer manufacturers.
Fizeau interferometers have applications in regular measurement of flat and spherical surfaces. Moreover, usage of these instruments is rising for the measurement of optical components such as lenses, flats, prism, or precision metal parts such as polished ceramics, bearings, and sealing surfaces. As per TMR study, the Fizeau interferometer segment accounted for 31.2% share of market in 2021. It is projected to lead the market, expanding at a CAGR of 6.2% between 2022 and 2031. This can be ascribed to increase in utilization of Fizeau interferometers in a range of end-use industries such as automotive, IT & telecommunications, and electronics & semiconductor industries.
Laser interferometers are used in various activities in the automotive sector such as profiling, dimensional measurement, control, and alignment. Demand for these devices is rising in the electronics & semiconductor sector in order to develop highly precise and complicated parts. These applications are likely to propel the market in the next few years.

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Growth Drivers

Increase in adoption of 3D meteorology is likely to drive market growth during the forecast period
Rise in demand in the electronics & semiconductor, industrial, and automotive industries presents significant business opportunities

Regional Analysis

As per analysts at TMR, Asia Pacific accounted for 33.2% share of the global market in 2021. The region is anticipated to hold major market share during the forecast period. Presence of robust automotive sector and rise in adoption of industrial automation in countries such as Japan, China, India, and South Korea are likely to propel market development.
The market in North America held 26.4% share of the market in 2021. Growth of the market in the region can be ascribed to increase in usage of laser ranging interferometers in the aerospace & defense sector and rise in adoption of automation.

Laser Interferometer Market: Competition Landscape

The market is consolidated
Players are adopting strategies such as collaboration, merger & acquisition, and partnership in order to expand businesses to newer regions
Enterprises are increasing investment in R&D activities in order to develop technologically advanced products

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Laser Interferometer Market: Key Players

Keysight Technologies
Haag-Streit Group
Evident
Mahr GmbH
QED Technologies International, Inc.
OPTODYNE Laser Metrology S.r.l
Status Pro
Renishaw plc
Zygo Corporation
Tosei Engineering Corp.

Laser Interferometer Market Segmentation

Interferometer

Michelson Interferometer
Fabry-Perot Interferometer
Fizeau Interferometer
Mach-Zehnder Interferometer
Sagnac Interferometer
Fiber Interferometer
Others (common-path interferometer, twyman-green interferometer, etc.)

Type

Homodyne
Heterodyne

Application

Semiconductor Detection
Biomedical
Applied Science
Surface Topology
Others (quantum mechanics, optometry, etc.)

End-use Industry

Automotive
Aerospace & Defense
Industrial
Electronics & Semiconductor
IT & Telecommunications
Others (healthcare, life sciences, etc.)

Regions Covered

North America
South America
Europe
Asia Pacific
Middle East & Africa

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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