#Fiber Optics Collimating Lens Market
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Fiber Optic Collimating Lens Market Size & Forecast 2026
The global fiber-optic collimating lens market size is projected to grow from USD 554 million in 2021 to USD 1,081 million by 2026; it is expected to grow at a CAGR of 13.3% from 2021 to 2026.
The demand for 5G networks and their applications, such as cloud-based networking, gaming, video streaming, etc., is increasing in the telecom and networking industries. The increased demand for high-speed internet with proper connectivity can be assured by fiber optics and its components, such as collimating lenses. Growing demand for high-speed internet will act as a foundation for more internet connections, which is likely to boost the demand for more advanced internet infrastructure, which includes cables, connectors, fiber-optic collimating lenses, and other several components. Digital transformation is influencing almost every industry, with volumes of data growing rapidly. Intelligent networking of machines and sensors requires data to be transmitted for analysis and control purposes within a specific radius, which can be fulfilled by a 5G-enabled network.
AMS Technologies AG, IPG Photonics Corporation, Coherent, Fabrinet, Thorlabs Inc, Daheng New Epoch Technology, Inc (CDHC), Edmund Optics, FS.Com, and Gooch & Housego are the major players in this market. The report also profiles the companies such as TRIOPTICS, SCANLAB GmbH, Rochester Precision Optics, LightPath Technologies, CeramOptec, Fiberguide Industries, Inc., OZ Optics, Ltd., Avantes, and Laser Mechanisms with their company profiles, recent developments, COVID-19 developments, and key market strategies.
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According to Ookla, LLC (US), the number of 5G deployments and 5G operators worldwide reached 18,731 and 157, respectively, in 2020. As per MarketsandMarkets, there would be 250 million 5G subscriptions by the end of 2021 and 2.9 billion by 2026. Despite the unexpected events of 2020, 5G deployment and adoption kept increasing. Also, the 5G ecosystem is broadening with the accelerated pace of 5G during 2020 with the deployment of many 5G networks and 5G-enabled devices. 5G adoption is growing in momentum in both domains – networks and devices – with over 150 5G devices launched commercially in 2020. Thus, the rising demand for 5G networks is one of the major drivers for market growth.
1000–1500 NM wavelength to dominate fiber-optic collimating lens market during the forecast period
The 1000–1500 nm range is expected to hold a major share of the fiber-optic collimating lens market, and the market for the same is expected to grow at the highest CAGR during the forecast period. Fiber-optic collimating lenses with wavelength range from 1000–1500 nm have a major demand, as such lenses are widely used for various end-use applications such as spectroscopy and light & display measurement, among others.
Communication to hold the largest share of fiber-optic collimating lens market in 2021
Fiber-optic collimating lenses are used in communication, medical diagnostics & imaging, lasers and detectors, metrology, microscopy & spectroscopy, and others (display applications, cytometry, artificial intelligence, and LiDAR). The communication segment holds the largest market share owing to the increasing demand for digitalization and the growing need for being connected. The fiber-optic collimating lens market for communication was valued at USD 209.0 million in 2020 and is expected to reach USD 392.0 million by 2026; it is anticipated to grow at the highest CAGR of 11.7% during the forecast period. The growing demand for fiber in the communication application is the key driver for the growth of this segment.
APAC to capture the largest share of fiber-optic collimating lens market
APAC is expected to hold the largest share of the fiber-optic collimating lens market during the forecast period. The fiber-optic collimating lens market in APAC was valued at USD 221.9 million in 2020 and is expected to reach USD 468.4 million by 2026; it is anticipated to grow at a CAGR of 13.7% between 2021 and 2026. Asian countries, particularly China and India, are expected to offer significant growth opportunities to the manufacturers of fiber-optic collimating lenses in the coming years.
Telecommunication industry to create lucrative opportunities
Fibers help telecommunication companies expand their existing networks by reaching more users and transferring more data to offer better speed and capacity. Rather than adding new strands of fiber optics to an existing network, network service providers install more fiber than needed to fulfill bandwidth requirements. This is done so that they can expand operations using these fiber cables in the future. These fibers save time, reduce costs, and future-proof networks against the rising demand for higher bandwidth capacity. These fibers also allow smaller telecom companies to offer services to customers, giving them an opportunity to compete on a small scale, even with huge national telecom outfits. The installation of fibers allows telecommunication companies to maximize their efficiency, as the creation of a fiber-optic network involves heavy investments and planning.
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Global Fiber Optic Collimating Lens Trends 2022–2028
The microlens collimating fiber optic assembly is designed to provide collimation of the emitted beam or focusing of the combined beam. The assembly can be customized with different connector types and lens shapes to fit the customer’s desired application. With a comprehensive portfolio of different specialty fibers, collimated fiber assemblies can be manufactured for any application.
Rising investment in fiber optics is expected to drive the demand for fiber optic components including fiber optic collimators.
Read More: https://introspectivemarketresearch.com/reports/fiber-optic-collimating-lens-market/
#Global Fiber Optic Collimating Lens Market#Global Fiber Optic Collimating Lens Market share#Global Fiber Optic Collimating Lens Market size#Global Fiber Optic Collimating Lens Market industry#Global Fiber Optic Collimating Lens Market trend
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According to the latest research study, the demand of global Fiber Optics Collimating Lens Market size & share was valued at approximately USD 593 Million in 2021 and is projected to reach a value of around USD 1310Million by 2027, at a compound annual growth rate (CAGR) of about 15.9% during the forecast period 2022 to 2027.
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Collimating Lens Market to Witness a Healthy Growth by 2032
The Collimating Lens market has experienced substantial growth in recent years, driven by its widespread applications in various industries, including optics, telecommunications, aerospace, and medical devices. Collimating lenses are essential optical components that help convert diverging light rays into parallel rays, making them highly valuable in laser systems, light-emitting diodes (LEDs), and other optical instruments. They play a critical role in maintaining the directionality and focusing of light, enabling precise measurements, efficient light transmission, and accurate targeting.
One of the key factors driving the Collimating Lens market is the increasing demand for laser technologies in various industrial and medical applications. Collimating lenses are used in laser systems to produce highly focused and parallel laser beams, facilitating laser cutting, welding, and medical procedures. Additionally, the growing adoption of laser-based sensing and communication technologies has further boosted the demand for collimating lenses in the telecommunications and aerospace industries.
Moreover, advancements in optical technologies and materials have led to the development of high-performance collimating lenses that offer improved optical efficiency, lower aberrations, and better beam shaping capabilities. These developments have expanded the applications of collimating lenses in industries such as automotive lidar systems, virtual reality (VR) and augmented reality (AR) displays, and fiber optic communications.
The Collimating Lens market is highly competitive, with numerous manufacturers and suppliers catering to a wide range of industries and applications. Companies like Thorlabs, Inc., Edmund Optics, Inc., Optics Balzers AG, and Newport Corporation are among the prominent players in the market, continuously innovating and expanding their product portfolios to meet the evolving demands of customers.
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Looking ahead, the Collimating Lens market is expected to witness continued growth due to the increasing adoption of advanced optical technologies in diverse sectors. The rising popularity of emerging technologies like lidar, 3D sensing, and autonomous vehicles is likely to drive the demand for collimating lenses in the automotive and robotics industries. Additionally, the ongoing development of compact and lightweight collimating lenses for portable and handheld devices is expected to further boost their applications in consumer electronics and medical devices, paving the way for a promising future in the global optics market.
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Fiber Optic Collimating Lens Market Size, Upcoming Trends, Prominent Players, Revenue, Share and Forecast 2028
Fiber Optic Collimating Lens Market size is projected to reach USD 1073.68 Million by 2028 from an estimated USD 524 Million in 2021, growing at a CAGR of 12.7% globally.
The latest research on the Global Fiber Optic Collimating Lens Market provides a comprehensive overview of the market for the years 2022 to 2028. It gives a comprehensive picture of the global Fiber Optic Collimating Lens industry, considering all significant industry trends, market dynamics, and competitive landscape. In addition, the analysis includes critical information on the Fiber Optic Collimating Lens Market status of the main market players, major trends, and future market development opportunities. These research papers are designed to help readers find information and make decisions that will help them grow their business. The study is written with a specific goal in mind: to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
The income earned from the sale of This Study and technologies by various application industries is considered in the report. This section also includes an analysis of global production volume and production volume by type for the projection period. Factors that influence market growth are important because they may be used to design diverse strategies for capturing the lucrative possibilities that exist in the ever-growing industry. In addition, market expert perspectives have been incorporated to better understand the industry.
Read More:https://introspectivemarketresearch.com/reports/fiber-optic-collimating-lens-market/
#Fiber Optic Collimating Lens Size#Fiber Optic Collimating Lens Share#Fiber Optic Collimating Lens Growth#Fiber Optic Collimating Lens Trend#Fiber Optic Collimating Lens segment#Fiber Optic Collimating Lens Opportunity#Fiber Optic Collimating Lens Analysis 2022#US Global Fiber Optic Collimating Lens
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Fibre Optic Collimating Lens Market is projected to reach USD 1073.68 Million by 2028
Fibre Optic Collimating Lens Market size is projected to reach USD 1073.68 Million by 2028 from an estimated USD 524 Million in 2021, growing at a CAGR of 12.7% globally. A collimator is an optical lens that parallels the beams of light entering your spectrometer setup. These lenses enable users to control the field of view, collection efficiency, and spatial resolution of their setup and configure illumination and collection angle for sampling. Collimating micro lens optical fibre assemblies are designed to provide collimation of the emitted beam or the focus of the coupled beam.
Read more: https://introspectivemarketresearch.com/reports/fiber-optic-collimating-lens-market/
#Fibre optic lens#Fibre optic lens market#Fibre optic lens market Growth#Fibre optic lens market Analysis#Fibre optic lens market size
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High Precision Asphere Market Size, Industry Trends, Analysis, 2022-2028
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global High Precision Asphere Market was worth USD 19.25 billion in the year 2021. The market is projected to grow at a CAGR of 7.2%, earning revenues of around USD 31.05 billion by the end of 2028. The Global High Precision Asphere Market is booming because the market for high precision aspheres is mostly to blame for the market's quick expansion. Aspherical lenses are performing better, and more research and development are being done to make the lenses lighter by using more complex designing procedures. The demand for distance detectors and transmitters is on the rise, and security companies are using more cameras for video surveillance, which is one of the key driving causes. Aspherical lenses are more frequently utilized in smartphones and tablets as a result of the rising market penetration rate of smartphones in both developed and developing nations. However, the high production cost of Aspheric lenses hampers the market growth.
Benefits of Using Aspheric Lenses in Optics Systems Instead of Regular Spherical Lenses
Aspheric lenses are used to decrease spherical aberrations in a range of applications. Because of their unique shape, these lenses outperform standard spherical lenses in terms of optical performance and image quality. In traditional spherical manufacturing, the surface is defined by a single radius of curvature. The curve can be ground and polished into the surface using large tools that work throughout the entire surface. Aspheric lenses are typically used when an element must concentrate or collimate light. Aspherical surfaces on collimating and focusing lenses outperform ordinary spherical surfaces in high-power industrial fiber laser and direct diode laser systems. The use of aspherical optics reduces spherical aberration. Spherical aberration is reduced by using aspherical optics. Spherical aberration is lessened using aspherical optics, which leads to smaller spot sizes, more uniform spot shapes, and greater depths of focus. Spherical lens systems need to be equipped with extra parts to solve the aberrations problem. When additional lens elements are used to rectify an image, the amount of flare and color change, contrast, and the lens' size and weight all go up. As a result, images produced by aspherical lenses frequently have more contrast and color. The systems with these lenses are lighter and simpler to use because no additional lens element is required. As a result, aspheric lens characteristics are used by optical designers to build compact optical systems. Because these systems are small, they are lighter, more complicated, and consume fewer resources.
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Challenge: The Cost of Producing Aspheric Lenses is High
In recent years, the method of producing aspheric lenses has advanced dramatically. Aspheric lenses are more expensive to produce than standard spherical lenses. Surfaces with a single radius of curvature are used to make traditional spherical lenses. Aspheric lenses, on the other hand, lack a unique radius of curvature that distinguishes them. As a result, smaller subapertures with varying curvature radii are used throughout the surface. Because a single huge tool cannot be employed, several production processes must be used to address these sub-apertures in various ways. Computer numerical control (CNC) grinding and polishing, as well as magnetorheological finishing, is the most commonly employed procedure (MRF). Magnetorheological finishing (MRF) and computer numerical control (CNC) grinding and polishing are frequently utilized to provide the surface with even more control during manufacturing. Because CNC production methods were created for the manufacture of metal, they are expensive. Because of this, the aspheric lens market is being constrained by high material and production costs, which are also limiting the market for fiber optic collimating lenses.
Segmental Coverage
Global High Precision Asphere Market – By Application
Based on application, the Global High Precision Asphere Market is segmented into Automotive, Camera, Mobile Phone and Tab, Optical Instrument, and Others. The optical instrument segment has the biggest market share of these. Because Aspheres minimize spherical aberrations in lenses, resulting in clear vision, the Optical Instruments category held the largest share of the Global High Precision Asphere Market. Aspheres also help to make the lens flatter and thinner, which improves the appearance and decreases peripheral magnification. During the projected period, all of these factors contribute to the growth of the Global High Precision Asphere Market (2022-2028).
Impact of COVID-19 on Global High Precision Asphere Market
The market for fiber optic collimating lenses fell in the first two quarters of 2020 due to the proliferation of COVID-19. The epidemic disrupted the market's supply chain because several of the key enterprises are located in China and the United States, the two countries most badly affected by the pandemic in the first half of 2020. In light of the existing circumstances, the quantity of market developments in 2020 and 2021 has dropped as a result of key industry participants focusing on developing and conserving operating revenue. The necessity for improved internet infrastructure drove demand for fiber optics and related components in 2020 and 2021, contributing to the market's rapid rise.
Competitive Landscape
The leading market players in the Global High Precision Asphere Market are Nikon Corporation, Canon Inc., Edmund Optics, Panasonic Corporation, Hoya Corporation, AGC Inc., SCHOTT AG, Carl Zeiss AG, Largan Precision Co., Ltd., Asia Optical Co., Inc., Asphericon GmbH, OptoSigma Corporation, Optimax Systems, Inc., LaCroix Precision Optics, LightPath Technologies, Accusy Photontech Ltd., Asphera, Tengjing Technologies Co., Ltd., and other prominent players. The Global High Precision Asphere Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
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The global Fiber Optics Collimating Lens market size is expected to be worth around US$ 1310Million by 2027, according to a new report by nova one advisor.
The global Fiber Optics Collimating Lens market size was valued at US$ 593 Million in 2021 and is anticipated to grow at a CAGR of 15.9% during forecast period 2021to 2027.
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Global Fiber Optics Collimating Lens Market - Growing Applications in Healthcare and Manufacturing
In the dynamic realm of optics, the global fiber optics collimating lens market is making waves with a projected growth from USD 554 million in 2021 to USD 1,081 million by 2026. This signifies a compelling compound annual growth rate (CAGR) of 13.3% from 2021 to 2026. Let's delve into the factors driving this surge and explore the promising trajectory of this flourishing market.
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Key Growth Drivers:
Rising Demand for High-Speed Data Transmission: The insatiable appetite for high-speed data transmission, particularly in telecommunications and data centers, is a significant catalyst for the increased adoption of fiber optics collimating lenses. These lenses play a pivotal role in optimizing data transfer efficiency and minimizing signal loss.
Advancements in Fiber Optics Technology: Technological advancements in the field of fiber optics have been a game-changer. As the industry witnesses innovations such as 5G networks, augmented reality (AR), and virtual reality (VR), the demand for precise and efficient collimating lenses becomes paramount.
Growing Applications in Healthcare and Manufacturing: Fiber optics collimating lenses find applications beyond communication networks. Their precision and reliability make them indispensable in medical devices, laser systems, and manufacturing processes, contributing to their increasing market demand.
Expanding Internet of Things (IoT) Ecosystem: The proliferation of IoT devices and applications is fueling the need for robust and efficient optical communication. Fiber optics collimating lenses play a crucial role in ensuring seamless connectivity and data transfer within the expanding IoT ecosystem.
Market Dynamics: The anticipated growth in the fiber optics collimating lens market is further buoyed by favorable market dynamics. Increased investments in research and development, strategic collaborations among industry players, and a focus on product innovation contribute to a positive market outlook.
As the global fiber optics collimating lens market embarks on a journey of robust growth, stakeholders, from manufacturers to end-users, are poised to reap the benefits of this technological surge. The market's projection from USD 554 million in 2021 to USD 1,081 million by 2026 attests to its potential to reshape the optics landscape.
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Collimating Lens Market Size Forecast to Reach $452 Million by 2026
The Collimating Lens Market size is forecast to reach $452 million by 2026, growing at a CAGR of 5.6% in the period 2021-2026. Collimating lenses are designed for performing various applications such as LiDAR, spectroscopy, industrial radiography, light & display measurement. In addition, Collimating lenses offer greater advantages, such as high spatial resolution, minimize energy loss, and other, specifically in fiber optics system. The rise in the demand for Collimating Lens is due to the growing popularity of fiber optics collimating lenses, which offers several possibilities for various industry verticals, including automotive, medical, power generation, manufacturing and aerospace, thereby, influence the growth of the Collimating Lens Industry. In fact, rapid technological advancements in high-end microscopy systems, and other array of solutions, such as nonimaging optics solution for superior display measurement in spectrometers, colorimeters and LED lighting systems, are analyzed to drive the market positively. Furthermore, the rapid advancement in optical technology, developments in the manufacturing of LED lamps and rising research and development investments to aim other growth opportunities, such as lesser energy consumption, long lifespan, high color-rendering index as well as promoting increasing usage of lenses in automobiles are some of the factors, which are estimated to boost the growth of the global Collimating Lens Market.
Collimating Lens Market Segment Analysis – By Light Source
By Light Source, the Collimating Lens Market is segmented into LED, Laser and Others. The LED light source is estimated to hold the highest share and grow at the highest CAGR of 12.8% during the forecast period 2021-2026, owing to the growing demand of LED lights across various commercial lighting sectors for high-brightness and low power consumption at affordable price. In December 2020, Ultra Beam Lighting launched a string of new lighting products. This new LED light product ranges are specifically wall mounted reading lights, which are brighter as well as energy efficient. LED light is a very energy-saving technology as compared to other traditional or regular light solutions, and thus, an increasing number of users prefers LED lighting products that consume minimum electricity. Hence, the significant increase in the use of LED lights among diversified end-users is witnessed to contribute to the growth of the Collimating Lens Market.
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Collimating Lens Market Segment Analysis – By Industry Verticals
By Industry Verticals, the Collimating Lens Market is segmented into Aerospace and Defense, Medical and Healthcare, Chemical, Automotive & Transportation, General Manufacturing, Consumer Electronics and others. Automotive & Transportation held the highest share and will grow at the highest CAGR of 6.2% during the forecast period 2021-2026. The leading automotive manufacturers are investing upon various advanced lighting solutions to integrate high-quality LED lights for vehicle headlights, thereby accelerating the demand of the Collimating Lens Market. In December 2020, Polestar launched advanced lighting technology, known as Pixel LED headlights to the compact premium electric vehicle segment, which offers exceptional forward lighting performance. Hence, the growing prominence of new lighting technologies and emergence of major lighting components that offer durable design architecture are estimated to accelerate the growth of the Collimating Lens Market.
Collimating Lens Market Segment Analysis – By Geography
Asia Pacific is analyzed to be the major region in Collimating Lens Market, and grow at a CAGR of 7.3% in the forecast period, owing to the rising demand of consumer electronics devices and easy affordable raw materials for electronic manufacturers that play a pivotal role for the market growth. In addition, Taiwan, Japan, Singapore and India are the key contributors to the regional market growth of Collimating Lens owing to the presence of a large number of market players, enormous investments for ultra-modern lighting solutions and potential government initiatives for adopting light-emitting diodes. In January 2020, Opple, a Shanghai-based company and a global leader in LED lighting launched a new line of products in the domestic electronics market in India, with an aim to strengthen its regional presence. The new line of products comprises two major launches, and they are EcoMax COB Spotlight and Smart Bulb. Thus,
Collimating Lens Market Drivers
Growing popularity of Smart lighting
The emergence of integrated lighting solutions to denote various lighting intelligence control systems is estimated to drive the Collimating Lens Market. In order to develop improved energy-efficient standards, the smart lighting products are rapidly adopted by various industry sectors, including residential and commercial. In January 2020, an innovative leader in WiFi based smart lighting, and a significant part of Signify, WiZ Connected launched the new WiZmote, a WiFi remote to easily control WiZ Connected products. All the WiZ Connected products are connected with a Motion Sensor that can trigger lighting modes, and offer Energy Optimization features, such as power consumption monitoring. Thus, the launch of several new smart lighting products to deliver consumers with varied functions for effortless customize home lighting control is contributing to the growth of the Collimating Lens Market.
Increasing prominence of optical sensor market
Recent advancements pertinent to Optical Sensor technology have enormously transformed the industry through a class of devices, which are administered in varied types of light-matter interactions to monitor, contact-less detection, quantify molecules and generate analytical signals for diversified applications is estimated to drive the Collimating Lens market. In July 2020, a Japanese multinational electrical engineering and software company, Yokogawa Electric Corporation launched updated versions of its AQ2200 optical sensor modules. The AQ2200-212 single-channel optical sensor module provides enhanced measurement performance and minimum uncertainty for diversified applications that demand high accuracy. Therefore, the launch of various optical measuring applications and non-imaging optics solutions are estimated to drive the Collimating Lens Market.
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Collimating Lens Market Challenges
Expensive Manufacturing cost
The aspheric lenses provide greater optical functionality in comparison to spherical lenses, which eventually leads to an expensive investment. Thus, for various end users the adoption of aspheric lenses for more effective performance is difficult due to high manufacturing cost, which hinders the growth of the Collimating Lens Market.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Collimating Lens Market. The Collimating Lens Market top 10 companies include AMS Technologies AG, Auer Lighting GmbH, Avantes Bv, Axetris AG, Bentham Instruments Limited, Broadcom Limited, Casix, Inc., Katerra, Edmund Optics Inc., Hexagon, Fisba AG, Hamamatsu Photonics K.K., Ingeneric GmbH
Acquisitions/Technology Launches/Partnerships
In September 2020, the official building products brand of Katerra, known as KOVA launched a new line of LED lighting solutions, which provides premium feature-rich LED lamps as well as fixtures at a great price.
In November 2020, Hexagon, a global leader in sensor, software and autonomous solutions launched a new software plugin to offer complete operation of Hexagon structured light scanning systems from within PolyWorks, a powerful third-party inspection software platform, developed by InnovMetric Software Inc.
Key takeaways
Asia Pacific is analyzed to be the major region in Collimating Lens Market, and grow at a CAGR of 7.3% in the forecast period, owing to the rising demand of consumer electronics devices and easy affordable raw materials for electronic manufacturers that play a pivotal role for the market growth.
The emergence of integrated lighting solutions to denote various lighting intelligence control systems is estimated to drive the Collimating Lens Market.
The LED light source is estimated to hold the highest share and grow at the highest CAGR of 12.8% during the forecast period 2021-2026, owing to the growing demand of LED lights across various commercial lighting sectors for high-brightness and low power consumption at affordable price.
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Collimating Lens Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026
The Collimating Lens Market size is forecast to reach $452 million by 2026, growing at a CAGR of 5.6% in the period 2021-2026. Collimating lenses are designed for performing various applications such as LiDAR, spectroscopy, industrial radiography, light & display measurement. In addition, Collimating lenses offer greater advantages, such as high spatial resolution, minimize energy loss, and other, specifically in fiber optics system
#Collimating Lens Market#Collimating Lens Market size#Collimating Lens Market shape#Collimating Lens Market growth
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Collimating Lens Market Size Forecast to Reach $452 Million by 2026
The Collimating Lens Market size is forecast to reach $452 million by 2026, growing at a CAGR of 5.6% in the period 2021-2026. Collimating lenses are designed for performing various applications such as LiDAR, spectroscopy, industrial radiography, light & display measurement. In addition, Collimating lenses offer greater advantages, such as high spatial resolution, minimize energy loss, and other, specifically in fiber optics system.
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Collimating Lens Market Size Forecast to Reach $452 Million by 2026
The Collimating Lens Market size is forecast to reach $452 million by 2026, growing at a CAGR of 5.6% in the period 2021-2026. Collimating lenses are designed for performing various applications such as LiDAR, spectroscopy, industrial radiography, light & display measurement. In addition, Collimating lenses offer greater advantages, such as high spatial resolution, minimize energy loss, and other, specifically in fiber optics system. The rise in the demand for Collimating Lens is due to the growing popularity of fiber optics collimating lenses, which offers several possibilities for various industry verticals, including automotive, medical, power generation, manufacturing and aerospace, thereby, influence the growth of the Collimating Lens Industry. In fact, rapid technological advancements in high-end microscopy systems, and other array of solutions, such as nonimaging optics solution for superior display measurement in spectrometers, colorimeters and LED lighting systems, are analyzed to drive the market positively. Furthermore, the rapid advancement in optical technology, developments in the manufacturing of LED lamps and rising research and development investments to aim other growth opportunities, such as lesser energy consumption, long lifespan, high color-rendering index as well as promoting increasing usage of lenses in automobiles are some of the factors, which are estimated to boost the growth of the global Collimating Lens Market.
Collimating Lens Market Segment Analysis – By Light Source
By Light Source, the Collimating Lens Market is segmented into LED, Laser and Others. The LED light source is estimated to hold the highest share and grow at the highest CAGR of 12.8% during the forecast period 2021-2026, owing to the growing demand of LED lights across various commercial lighting sectors for high-brightness and low power consumption at affordable price. In December 2020, Ultra Beam Lighting launched a string of new lighting products. This new LED light product ranges are specifically wall mounted reading lights, which are brighter as well as energy efficient. LED light is a very energy-saving technology as compared to other traditional or regular light solutions, and thus, an increasing number of users prefers LED lighting products that consume minimum electricity. Hence, the significant increase in the use of LED lights among diversified end-users is witnessed to contribute to the growth of the Collimating Lens Market.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=505456
Report Price: $ 4500 (Single User License)
Collimating Lens Market Segment Analysis – By Industry Verticals
By Industry Verticals, the Collimating Lens Market is segmented into Aerospace and Defense, Medical and Healthcare, Chemical, Automotive & Transportation, General Manufacturing, Consumer Electronics and others. Automotive & Transportation held the highest share and will grow at the highest CAGR of 6.2% during the forecast period 2021-2026. The leading automotive manufacturers are investing upon various advanced lighting solutions to integrate high-quality LED lights for vehicle headlights, thereby accelerating the demand of the Collimating Lens Market. In December 2020, Polestar launched advanced lighting technology, known as Pixel LED headlights to the compact premium electric vehicle segment, which offers exceptional forward lighting performance. Hence, the growing prominence of new lighting technologies and emergence of major lighting components that offer durable design architecture are estimated to accelerate the growth of the Collimating Lens Market.
Collimating Lens Market Segment Analysis – By Geography
Asia Pacific is analyzed to be the major region in Collimating Lens Market, and grow at a CAGR of 7.3% in the forecast period, owing to the rising demand of consumer electronics devices and easy affordable raw materials for electronic manufacturers that play a pivotal role for the market growth. In addition, Taiwan, Japan, Singapore and India are the key contributors to the regional market growth of Collimating Lens owing to the presence of a large number of market players, enormous investments for ultra-modern lighting solutions and potential government initiatives for adopting light-emitting diodes. In January 2020, Opple, a Shanghai-based company and a global leader in LED lighting launched a new line of products in the domestic electronics market in India, with an aim to strengthen its regional presence. The new line of products comprises two major launches, and they are EcoMax COB Spotlight and Smart Bulb. Thus,
Collimating Lens Market Drivers
Growing popularity of Smart lighting
The emergence of integrated lighting solutions to denote various lighting intelligence control systems is estimated to drive the Collimating Lens Market. In order to develop improved energy-efficient standards, the smart lighting products are rapidly adopted by various industry sectors, including residential and commercial. In January 2020, an innovative leader in WiFi based smart lighting, and a significant part of Signify, WiZ Connected launched the new WiZmote, a WiFi remote to easily control WiZ Connected products. All the WiZ Connected products are connected with a Motion Sensor that can trigger lighting modes, and offer Energy Optimization features, such as power consumption monitoring. Thus, the launch of several new smart lighting products to deliver consumers with varied functions for effortless customize home lighting control is contributing to the growth of the Collimating Lens Market.
Increasing prominence of optical sensor market
Recent advancements pertinent to Optical Sensor technology have enormously transformed the industry through a class of devices, which are administered in varied types of light-matter interactions to monitor, contact-less detection, quantify molecules and generate analytical signals for diversified applications is estimated to drive the Collimating Lens market. In July 2020, a Japanese multinational electrical engineering and software company, Yokogawa Electric Corporation launched updated versions of its AQ2200 optical sensor modules. The AQ2200-212 single-channel optical sensor module provides enhanced measurement performance and minimum uncertainty for diversified applications that demand high accuracy. Therefore, the launch of various optical measuring applications and non-imaging optics solutions are estimated to drive the Collimating Lens Market.
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Collimating Lens Market Challenges
Expensive Manufacturing cost
The aspheric lenses provide greater optical functionality in comparison to spherical lenses, which eventually leads to an expensive investment. Thus, for various end users the adoption of aspheric lenses for more effective performance is difficult due to high manufacturing cost, which hinders the growth of the Collimating Lens Market.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Collimating Lens Market. The Collimating Lens Market top 10 companies include AMS Technologies AG, Auer Lighting GmbH, Avantes Bv, Axetris AG, Bentham Instruments Limited, Broadcom Limited, Casix, Inc., Katerra, Edmund Optics Inc., Hexagon, Fisba AG, Hamamatsu Photonics K.K., Ingeneric GmbH
Acquisitions/Technology Launches/Partnerships
In September 2020, the official building products brand of Katerra, known as KOVA launched a new line of LED lighting solutions, which provides premium feature-rich LED lamps as well as fixtures at a great price.
In November 2020, Hexagon, a global leader in sensor, software and autonomous solutions launched a new software plugin to offer complete operation of Hexagon structured light scanning systems from within PolyWorks, a powerful third-party inspection software platform, developed by InnovMetric Software Inc.
Key takeaways
Asia Pacific is analyzed to be the major region in Collimating Lens Market, and grow at a CAGR of 7.3% in the forecast period, owing to the rising demand of consumer electronics devices and easy affordable raw materials for electronic manufacturers that play a pivotal role for the market growth.
The emergence of integrated lighting solutions to denote various lighting intelligence control systems is estimated to drive the Collimating Lens Market.
The LED light source is estimated to hold the highest share and grow at the highest CAGR of 12.8% during the forecast period 2021-2026, owing to the growing demand of LED lights across various commercial lighting sectors for high-brightness and low power consumption at affordable price.
Related Reports
A.Light Sensors Market
https://www.industryarc.com/Report/15432/light-sensors-market.html
B.Image Sensors Market
https://www.industryarc.com/Report/15000/image-sensors-market.html
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