The global diffractive optical elements market is foreseen to grow at a CAGR of over 7% during the forecast of 2019 to 2026.
A diffractive optical element (DOE) is primarily used to manipulate the light that is propagated using thin micro-structure patterns to alter the phase of the light that is propagated through it.
The global diffractive optical elements market is continuously developing and growing and numerous factors are responsible for this development. New firms entering the industry and research undertaken by various educational institutions on specific wavelengths and results are expected to augment the growth of the market. All of these initiatives have led to an increase in revenue as well as ease in production and easy availability of technology for application across various industries. With educational institutions receiving incentives to carry out research it also encourages them to set up their own business in the same market and thus opens up new trade avenues and creating lucrative opportunities globally.
The diffractive optical elements sustain the application of optoelectronic component in the healthcare sector, is said to expand the global market more. With regional governments augmenting healthcare and medicine investments, it is predicted that the sales of diffractive optical elements will maintain a steady pace in the coming years. The elevating adoption of micro-optics in numerous applications, primarily in ophthalmology and biomedical devices, increasing capitalist investments in DOEs is likely to create opportunistic spaces for diffractive optical elements manufacturers. The mounting use of 3D printed micro-optic products has fostered the growth of print-optical technology which further fuels the demand for shaping the overall demand pattern of diffractive optical elements globally.
Major firms in this industry are continually researching and developing to keep up with the dynamic market and outdo competitors. Significant companies in the market are Jenoptic AG, Broadcom Inc., and SUSS MicroTec SE. Market leaders are investing in strategic acquisitions and long-term contractual agreements with potential business partners to expand business opportunity. Strong strategic digital marketing is a key policy of major market shareholders, while firms are also focusing on anti-counterfeiting their products and effective pricing.
Recent Devlopments:
While Jenoptic, a German integrated photonics group, is augmenting R&D investments globally focusing on America and Asia owing to their high growth potential for optical elements suppliers, the company is also consistently taking efforts to stretch the expertise for improved market positioning. The firm recently uncovered an extensive range of LIDAR applications at the Vehicle & Transportations Technology Innovation Meetings (VTM) 2018. The company has been one of the significant producers of optoelectronic components to automotive and industrial consumers. The new application expertise has already earned the firm the position in the Tier 2 segment of the diffractive optical elements market.
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Diffractive Optical Elements Market: Segmentation:
By Type
• Beam Splitter
• Beam Shaper
• Homogenizer (Beam Diffusers)
The beam splitter segment is expected to grow at highest CAGR, followed by the beam shaper sub-segment, due to the increasing usage of diffractive elements like these in critical application areas such as in biomedical devices. However, the beam splitters sub-segment is garner maximum revenue in the global diffractive optical elements market and grow at robust CAGR.
By Industry
• Healthcare
• Electronics and Semiconductor
• Telecommunication
• Energy and Others
The healthcare segment is speculated to grow at the fastest CAGR during the forecast period. High spending on the research & development of biomedical devices and continuous innovations in the diffractive optical elements market are some of the major factors promoting the growth of the healthcare industry sub-segment. However, the electronics and semiconductor segment is also expected to grow at a relatively healthy CAGR during the forecast period in the global diffractive optical elements market compared to other segments.
By Application
• Biomedical Devices
• Laser Material Processing
• LIDAR
• Communication
• Optical Sensors
• Lithographic and Holographic Lighting
• Others
By Region:
• Europe
• North America
• APAC
• Latin America
• Rest of World
The global diffractive optical elements market is expected to be dominated by Europe owing to the high spending on research & development by various countries in the region as well as the local presence of major manufacturers. North America and APAC diffractive optical elements markets are also expected to capture a substantial share in the global market owing to major technological advancements in the electronics and semiconductor industry as well as the strong presence of tier-1 manufacturers in the region.
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
Some significant firm in the global diffractive optical elements market are Broadcom Inc., Jenoptik AG, SÜSS MicroTec SE, HOLO/OR LTD., LightTrans GmbH, Sintec Optronics Pte Ltd., HOLOEYE Photonics AG, Laser Optical Engineering Ltd, Laserglow Technologies, and SILIOS Technologies.
FutureWise Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data points affecting market growth
Objectives of the Study:
• To provide an exhaustive analysis on the global diffractive optical elements market by type, by industry, by application and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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