Global High Precision Asphere Market to Reach $5.21 Billion by 2031

DUBLIN, Aug. 23, 2022 /PRNewswire/ -- The "High Precision Asphere Market - A Global and Regional Analysis: Focus on Application, Type, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.

The global high precision asphere market was valued at $2,400.0 million in 2021 and is expected to reach $5,214.0 million by 2031, growing at a CAGR of 8.1% between 2022 and 2031. The growth in the global high precision asphere market is expected to be driven by the deployment of high precision asphere in mobile phones and automobiles.

Market Lifecycle Stage

The high precision asphere is a growing industry. Increased research and development activities are underway to enhance the performance of aspherical lenses while reducing the weight of lenses in more complex designing processes.

Industrial Impact

An increased demand for distance detectors and transmitters and increased usage of cameras by security agencies for video surveillance are some of the key driving factors. The adoption of aspherical lenses is more prominent in mobile phones and tablets owing to the increasing market penetration rate of smartphones in both developed as well as developing countries. The U.S. has the largest industry for the high precision asphere as the country inhabits a healthy environment for technological developments and advancements.

Market Segmentation

by End-Use Application

• Optical Instruments
• Automotive
• Cameras
• Mobile Phones and Tablets
• Others

The global high precision asphere market in the end-use application segment is expected to be dominated by mobile phones and tablets end-use applications. This is due to innovative design coupled with a wide variety of technological advancements and intensive research to provide a clear vision in smartphones and tablets.

by Product Type

• Glass Aspherical Lens
• Plastic Aspherical Lens

The global high precision asphere market is dominated by the glass aspherical lens. This is because these lenses have a higher range of refractive index and thus, have higher applicability areas. Moreover, glass aspherical lenses provide a better focus point and a larger focal length range.

by Region

• North America - U.S., Canada, and Mexico
• Europe - Germany, France, Spain, and Rest-of-Europe
• China
• U.K.
• Asia-Pacific and Japan - Taiwan, Japan, South Korea, and Rest-of-Asia-Pacific and Japan
• Rest-of-the-World

China is expected to be the largest market for high precision asphere. This is due to the high rate of consumption and production of high precision asphere lens products. Moreover, China serves as a highly cost sensitive market, which induces the requirement for low cost but efficient products.

Recent Developments in Global High Precision Asphere Market

• In July 2019, Nikon Corporation collaborated with NIKKOR CORPORATION for the production of ED lens elements.
• In September 2020, Nikon Corporation released a fast and ultrawide-angle zoom lens, NIKKOR Z 14-24mm f/2.8 S, for the Nikon Z mount system. This is a result of the usage of aspherical lenses as they form sharper images.

Demand - Drivers and Limitations

Following are the demand drivers for the high precision asphere market:

• Increasing Deployment of High Precision Asphere in Mobile Phones and Tablets
• Solving the Problem of Aberration

The market is expected to face some limitations too due to the following challenges:

• Complex Fabrication Process
• Challenges Related to Measurement and Coating of Aspherical Lenses

Key Topics Covered:

1 Markets

2 Application

3 Products

4 Region

5 Markets - Competitive Benchmarking & Company Profiles

6 Research Methodology

 Companies Mentioned

• Nikon Corporation
• Canon Inc.
• Edmund Optics
• Panasonic Corporation
• Hoya Corporation
• AGC Inc.
• SCHOTT AG
• Carl Zeiss AG
• Largan Precision Co., Ltd.
• Asia Optical Co., Inc.
• Asphericon GmbH
• OptoSigma Corporation
• Optimax Systems, Inc.
• LaCroix Precision Optics
• LightPath Technologies
• Accusy Photontech Ltd.
• Asphera
• Tengjing Technologies Co., Ltd.a

For more information about this report visit https://www.researchandmarkets.com/r/c6ghzn

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SOURCE Research and Markets