Collimating Lens Market Worth $380 Million by 2023 - Exclusive Report by MarketsandMarkets™

CHICAGO, November 2, 2018 /PRNewswire/ --

According to the new research report "Collimating Lens Market by Light Source (LED and Laser), Material (Glass and Plastic), End Use (Automobile, Medical, LiDAR, Light and Display Measurement, and spectrometer), Wavelength, and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the collimating lens market is expected to grow from USD 289 million in 2018 to USD 380 million by 2023, at a CAGR of 5.7%. The growth of this market is mainly driven by several factors, such as advantages of collimating lenses in various applications and benefits of using aspheric lenses over traditional spherical lenses in optics systems.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Don't miss out on business opportunities in Collimating Lens Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=12889947

LED light source to hold largest share of collimating lens market by 2023 

LED light source is expected to hold the largest share of the collimating lens market by 2023. Energy saving, long lifespan, compact volume, high color-rendering index, and environmental benefits are the major advantages of the laser- and LED-based collimating lenses over lamp-based collimating lenses. The use of LED lighting systems can lead to 5 times lesser energy consumption than that of collimating lens systems in which conventional fluorescent lamps are used.

Collimating lens market for glass material to grow at highest CAGR from 2018 to 2023 

The refractive index of glass ranges from 1.5 to 1.9, while it ranges from 1.5 to 1.74 for plastics. Glass materials have high refractive index ranges with greater density than plastic materials. Therefore, lenses having a higher index of refraction can bend light more efficiently. Also, lenses with higher refractive indices are thinner than lenses of the same power made with the materials of lower refractive indices, which helps in the growth of the market for glass collimating lenses.

Browse in-depth TOC on "Collimating Lens Market"

34 - Tables  

42 - Figures  

113 - Pages  

APAC to dominate collimating lens market during forecast period 

The collimating lens market in APAC is expected to grow at the highest CAGR during the forecast period. The rise in disposable income in APAC countries has led to an increase in the demand for vehicles, which, in turn, has surged the collimating lens market growth in this region. Also, the increase in automotive production is driving the growth of the collimating lens market in APAC. The growing preference for the vehicles equipped with LED headlamps, in turn, boosts the sales and production levels of collimating lenses in this region.

Ask for PDF @ https://www.marketsandmarkets.com/pdfdownload.asp?id=12889947

LightPath Technologies, Inc. (US), Ocean Optics, Inc. (US), INGENERIC GmbH (Germany), TRIOPTICS GmbH (Germany), Avantes BV (Netherlands), Auer Lighting GmbH (Germany), IPG Photonics Corporation (US), Optikos Corporation (US), The Optoelectronics Co. Ltd. (UK), and Thorlabs, Inc. (US) are a few major players in the collimating lens market.

Please explore relevant report "Optical Measurement Market" also.

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/collimating-lens-market.asp

Visit Our Web Site: https://www.marketsandmarkets.com

SOURCE MarketsandMarkets