Park Systems, a leading manufacturer of Atomic-Force Microscopy (AFM) systems, is celebrating its new status as the number one global leader in the industry. According to the recently released "Global Atomic-Force Microscopy Market Report" by QYR Research 2023, Park Systems has overtaken long-time leader Bruker and other competitors, including Oxford Instruments, to secure the top position.
The report states that in 2022, Park Systems's AFM revenue of $84.72 million surpassed Bruker's revenue of $78.44 million, and this trend is expected to continue with a wider margin in 2023, with Park Systems leading the market share by 29%. The third-place holder had a revenue of $38.13 million in 2022, accounting for just 45% that of Park Systems.
To measure market concentration, economists and competition authorities use the Herfindahl-Hirschman Index (HHI) and concentration ratios (CR(n)). The report reveals that Park Systems has surpassed Bruker in terms of market competitiveness, with a concentration ratio of 23.13% compared to Bruker's 17.96% in 2023. This is a significant increase from 2022 and 2021, where Park Systems had a concentration ratio of 20.26% and 16.79% (2022, 2021), while Bruker had 18.75%, and 19.97% (2022, 2021). The third-place holder accounted for less than 9% in all three years.
"We are thrilled to be recognized as the number one AFM global leader," said Dr. Sang-il Park, CEO of Park Systems. "This achievement is a testament to our commitment to innovation and customer satisfaction. We will continue to push the boundaries of scientific discovery and strive to provide our customers with the best AFM solutions on the market."
Park Systems has been at the forefront of the AFM technology for over two decades, delivering cutting-edge solutions to customers worldwide. With this new achievement, the company is poised to continue leading the industry and setting new standards for excellence.
About Park Systems Corp. (KOSDAQ: 140860)
Park Systems is a world-leading manufacturer of atomic force microscopy (AFM) and nano metrology systems with a complete range of products for researchers and engineers in the chemistry, materials, physics, life sciences, semiconductor, and data storage industries. Its mission is to enable nanoscale advances for scientists and engineers solving the world's most pressing problems and pushing the boundaries of scientific discoveries and engineering innovations. Customers of Park Systems include most of the world's leading semiconductor companies and national research universities in Asia, Europe, and the Americas. Park Systems is a publicly traded corporation on the Korea Stock Exchange (KOSDAQ) with corporate headquarters in Suwon, Korea, and regional headquarters in Santa Clara, California, Mannheim, Paris, Beijing, Tokyo, Singapore, India, and Mexico City. To learn more, please visit www.parksystems.com.