Market Size of Acousto Optic Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.24 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Acousto Optic Devices Market Analysis
The acousto optic devices market is expected to register a CAGR of 7.24% during the forecast period (2021 - 2026). Acousto-optic devices are gaining traction due to the growing demand for laser applications in the manufacturing, life science, and scientific research verticals. There is an increase in the need for acousto- optic modulators in these applications, which is expected to drive the market's growth.
- The growing adoption of optical technologies for the mass production of consumer electronics is mainly driving the growth of the market studied. The increase in consumer electronics applications, like micro sensing, flat panel display, and LiDar, has also propelled the demand for acousto-optic devices in semiconductor and materials processing applications.
- Laser-based systems widely manufacture stents. Bio-absorbable stents (made of a polymer extremely sensitive to thermal effects) are gaining traction across high healthcare-spending regions, like Europe. Manufacturers find the need for lasers, as they cannot be machined with the required quality by long pulse lasers. With this need for laser-based systems, the demand for acousto-optic modulators, deflectors, and tunable filters increases.
- Moreover, medical device manufacturers are also finding the need to install the lasers for fabrication. They are high-added-value components with stringent quality requirements, and the manufacturing process is often challenging. Metal marking (CE and UDI) mandates further scope for lasers.
- However, the high cost of the devices and increasing requirement-specific R & D expenses on this technology may hinder the market's growth.
- The outbreak of the COVID-19 virus across the globe is anticipated to aid the adoption of acousto-optic devices as the coronavirus pandemic has heightened worries about global supply chains. Further, various governments are concerned regarding the growing dependency on China- and Taiwan-based firms for electronic components. To overcome this, they are seeking to establish manufacturing facilities in their respective countries. For instance, the US officials are particularly concerned about the growing reliance on Taiwan, the self-ruled island claimed by China.
