According to a market report by Lucintel, the future of the high precision asphere market looks promising with opportunities in the automotive, camera, mobile phone and tablets, and optical instrument applications. The global high precision asphere market is expected to grow with a CAGR of 8% to 10% from 2023 to 2028. The major drivers for this market are increasing installation of high precision asphere in mobile phones and automobiles, growing demand for distance detectors and transmitters, and increasing penetration of cameras by security agencies for video surveillance and smart phones.
In this market, glass aspherical lens and plastic aspherical lens are the major segments by product. Lucintel forecasts that glass aspherical lens will remain the largest segment over the forecast period because these lenses have a higher range of refractive index, have higher applicability areas, and provides a better focus point and a larger focal length range.
Within this market, mobile phone and tablets is expected to remain the largest segment by end use industry due to innovative designs coupled with a wide variety of technological advancements and intensive research to provide a clear vision in smartphones and tablets.
APAC will remain the largest region due to high rate of consumption and production of high precision asphere lens products, and China serves as a highly cost sensitive market, which induces the requirement for low cost but efficient products.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing adoption of accurate camera features in various applications and technological advancements in aspherical lenses. Nikon, Canon, Edmund Optics, Panasonic, Hoya, AGC, SCHOTT AG, Carl Zeiss AG, Largan Precision, and Asia Optical, are the major suppliers in the global high precision asphere market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global high precision asphere market by product, application and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global High Precision Asphere Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global high precision asphere market by product, application and region, as follows:
High Precision Asphere Market by Product [Value ($B) shipment analysis for 2017-2028]:
· Glass Aspherical Lens
· Plastic Aspherical Lens
High Precision Asphere Market by Application [Value ($B) shipment analysis for 2017-2028]:
· Automotive
· Camera
· Mobile Phone and Tab
· Optical Instrument
· Others
High Precision Asphere Market by Region [Value ($B) shipment analysis for 2017-2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global High Precision Asphere Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the high precision asphere market by product (glass aspherical lens and plastic aspherical lens), application (automotive, camera, mobile phone and tablets, optical instrument, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?