Global Micro-Optics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Micro-Optics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Micro-optics are optical systems that are between a few micrometers and a millimeter in size. This includes small lenses or arrays of lenses or optical fibers with a microscale core diameter. Such small optical components are important for integrated optics. Micro-optics is the study of optical functional devices and surface microstructures on the order of micrometers. For Micro-Optics devices, wide wavelength and optical power range make it very suitable for products such as fiber amplifiers, fiber lasers, telecommunications equipment, and fiber-based sensors and instrumentation equipment.

A micro-optical coupler can improve the coupling efficiency of the glass fiber bundle. It is made of ultra-pure quartz. Its transmission is about 96% in the wavelength range of 400-650nm. Custom variants available. The micro-optical coupler is specially designed to improve the optical efficiency of LED light transmission through the fiber bundle.

Market Overview:

The latest research study on the global Micro-Optics market finds that the global Micro-Optics market reached a value of USD 2816.17 million in 2022. It’s expected that the market will achieve USD 4578.89 million by 2028, exhibiting a CAGR of 8.44% during the forecast period.

Short-term negative impact

The COVID-19 crisis is affecting all walks of life around the world, and the global economy is expected to be hit hardest in 2020 and 2021. The epidemic has had a negative impact on all walks of life. The sharp decline in international trade is having a negative impact on the growth of the global economy. Production shutdowns, supply chain restrictions, procurement management, labor shortages, and border blockades implemented to fight and contain the epidemic have adversely affected the manufacturing industry. The production slowdown in the manufacturing industry has directly affected the adoption of various temporary technologies and solutions. For example, telecommunications companies have reduced their expenditures by adopting multiple technical solutions to deal with the current situation. Micro-Optics production has been hit, and the demand side is not so strong or even weak. This has a negative impact on the Micro-Optics industry.

Long-term market resilience recovery

At present, the promotion of vaccines and the effective prevention of the epidemic by the government will help the market recover quickly, and the restoration of market confidence will help companies gradually stabilize their cash flow and control risks. Important industries rely heavily on Micro-Optics, such as telecommunications, defense and other industries, and later production will recover quickly and demand will also recover. Even, with the development of subsequent digital strategies, demand has increased.

Economic Factors

The economy is gradually recovering
In the post-epidemic era, with the promotion of vaccines and economic assistance policies in major regions, the global economy is expected to grow by 5.6% in 2021, mainly due to the strong rebound of several major economies. Among the major economies, the United States is expected to grow by 6.8% this year, reflecting large-scale financial support and the relaxation of epidemic restrictions. Growth in other advanced economies is also increasing but at a smaller rate. Among emerging markets and developing economies, China is expected to rebound to 8.5% this year, reflecting the release of pent-up demand.
The economic recovery of major economies will help boost confidence in capital markets. Companies applying micro-optical technology will reduce the difficulty of obtaining investment and financing. The recovery of cash flow is conducive to the enterprise's industrial layout, resumption of production, and rational operation. For enterprises, productivity will be restored. At the same time as the economy recovers, the consumption capacity of the terminal demand side will also recover, especially in the telecommunications industry. The increased demand for micro-optical technology products in the global competition situation will help promote the development of the industry.

Social Factors

Increased reliance on data, communications, and other industries
The growing demand for high bandwidth in various industries such as telecommunications, healthcare, automotive, oil, and gas, etc. has had a positive impact on the market. The growing demand for services such as cloud applications, video and audio services, and online games from residential users and businesses have supplemented the growth of this market. With the popularization of mobile devices, all departments are adopting more and more mobile devices, increasing the demand for high-speed data services, leading to the growth of the Micro-Optics Market. The increasing demand for services including social media, video services, and online games has increased the demand for Micro-Optics Market.
In terms of life and work, the dependence on the basic network is deepened. With the development of microfabrication technology in the semiconductor industry, many new applications with new characteristics have been produced through miniaturization and the combination of various functions in a small range. This urges optics to be miniaturized to deal with new applications in the fields of optics and lasers. The high-tech and refined development needs of the manufacturing industry are driving the development of the Micro-Optics Market.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects

Company Overview:

Corning Incorporated is one of the major players operating in the Micro-Optics market, holding a share of 10.62% in 2023.

Corning Incorporated

Corning Incorporated is an American multinational technology company that specializes in specialty glass, ceramics, and related materials and technologies including advanced optics, primarily for industrial and scientific applications.

Senko Advanced Components

SENKO Advanced Components was incorporated in the United States in the early nineties and has since been recognized as one of the industry’s specialists in passive fiber optics interconnect and optical components. This is due in great part to the design capabilities and high manufacturing capacity in CNC machining, injection molding, and component assembly. To date, SENKO has 46 awarded patents, with more than twenty-five pending.

Segmentation Overview:

By type, Isolator segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Optical Network segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Micro-Optics market covered in Chapter 3:

SEI Optifrontier
HYC
FS.COM
G&H Photonics
Senko Advanced Components
Thorlabs
Corning Incorporated
AFR
Excelitas
Crowntech Photonics
Accelink
LIGHTEL
Flyin Optronics

In Chapter 4 and Chapter 14.2, on the basis of types, the Micro-Optics market from 2018 to 2029 is primarily split into:

WDM
Splitter/Coupler
Circulator
Isolator
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Micro-Optics market from 2018 to 2029 covers:

Optical Network
Industrial Laser
Data Center
Medical Equipments
Fiber Sensing
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)