Advanced Optics Market

Advanced Optics Market

Growth Factors of Advanced Optics Market

The advanced optics market size was valued at USD 287.29 billion in 2023, and the market is now projected to grow from USD 310.56 billion in 2024 to USD 628.80 billion by 2032, exhibiting a CAGR of 9.2% during the forecast period of 2023-2030.

COVID- 19 pandemic has tremendously affected the whole world. It affected many unpredicted interruption and affected the industry. The pandemic caused in deteriorated demand due to a disturbed supply chain, drop in sales of products, delivery lists. COVID-19 has been unmatched and staggering, with progressive optics observing a negative impact on demand across all the areas during the pandemic.

Adaptive optics were first established for the defense industry and are extensively hired in several security uses, comprising wall imaging systems, projectile protection systems, and others around the world. With its considerable security budgets and powerful industrial protection complex, endures to use adaptive optics for high-energy laser systems and other uses. There is constant research on the applications of optical system in healthcare across campuses and research laboratories worldwide which will upsurge the advanced optics market growth.

Artificial intelligence is an extensive field of science that lets computers to solve problems by pretending difficult biological processes like knowledge, intellectual, and self-correction. AI objects and systems can imitate biological processes to conduct processes similar to knowledge and decision-making, directing on human cognitive processes. The implementation of AI in optical solution has become an area of research over the previous period.

Comprehensive Analysis of Advanced Optics Market

The market can be segmented in various ways, depending on the focus of analysis such as by technology, by end-users and by application. Based on technology, the market is divided into ray optics, wave optics, and quantum optics. Based on application, the market is classified into LiDAR, lighting solutions, optical communication, Intelligence, Surveillance & Reconnaissance (ISR), medical equipment, cameras, metrology devices, 3D scanners, and others. Based on the end-use industry, the market is divided into commercial, industrial, defense, medical, aviation (drone), automotive, space, and others.

North America region is dominating the advanced optics market share due to upsurge in the implementation of progressive optical technology. The occurrence of several progressive optics manufacturers and high demand for photonics and optical systems in industries fuel market development.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Signify N.V. (Netherlands), Shin-Etsu Chemical Co. Ltd (Japan), Nikon Corporation (Japan), Cisco Systems Inc. (U.S.), Corning Inc. (U.S.), Hoya Corporation (Japan), Schott AG (Germany), II-VI Inc. (U.S.), GlobalFoundries Inc. (U.S.), AGC Inc. (Japan), Hamamatsu Photonics K.K. (Japan), Gooch & Housego PLC (U.K.), Excelitas Technologies Corp. (U.S.), Imagine Optic SA (France), Iris AO, Inc (U.S.), Boston Micromachines Corporation (U.S.), Flexible Optical B.V. (Netherlands), Active Optical Systems, LLC (U.S.), Northrop Grumman Corporation (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In July 2023, Frontiers announced the acquisition of Advanced Optical Technologies (AOT) magazine. Frontiers is dedicated to open science and the acquisition of AOT is a vital step toward achieving this goal in optical design, engineering, and manufacturing.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 9.2% over 2024 to 2032

Unit Value (USD Billion)

Segmentation

By Technology

- Ray

- Wave

- Quantum

By Application

- LiDAR

- Lighting Solution

- Optical Communication

- Intelligence, Surveillance & Reconnaissance (ISR)

- Medical Equipment

- Camera

- Metrology Devices

- 3D Scanner

- Others

By End-Use Industry

- Commercial

- Industrial

- Defense

- Medical

- Aviation (Drone)

- Automotive

- Space

- Others

By Geography

- North America (By Technology, Application, End-use Industry, and Country)

- U.S. (By End-use Industry)

- Canada (By End-use Industry)

- Europe (By Technology, Application, End-use Industry, and Country)

- U.K. (By End-use Industry)

- Germany (By End-use Industry)

- France (By End-use Industry)

- Rest of Europe (By End-use Industry)

- Asia Pacific (By Technology, Application, End-use Industry, and Country)

- China (By End-use Industry)

- India (By End-use Industry)

- Japan (By End-use Industry)

- South Korea (By End-use Industry)

- Rest of Asia Pacific (By End-use Industry)

- Rest of the World (By Technology, Application, End-use Industry, and Country)

- South America (By End-use Industry)

- Middle East & Africa (By End-use Industry)


Please Note: It will take 5-6 business days to complete the report upon order confirmation.