Insights on the High Precision Asphere Global Market Analysis and Forecast to 2025
DUBLIN, Nov. 20, 2020 /PRNewswire/ -- The "High Precision Asphere Market - A Global and Regional Analysis: Focus on Product Types and Their Applications, and Countries - Analysis and Forecast, 2020-2025" report has been added to ResearchAndMarkets.com's offering.
Exponential growth has been observed in both the plastic aspherical lens as well as the glass aspherical lens markets. The aspherical lens has allowed the end-user industries to increase the capabilities of their products without compromising on the profits. Organizations are making use of the aspherical lens to gain more efficient and effective equipment that bypasses the problems related to diffractive aberrations caused by high index spherical lenses. Presently, the automotive sector has made the maximum usage of aspherical lenses.
The aspherical lens is a technology that uses three types of ray diffraction angles along the surface of the lens to create sharper and clearer images. The technology is cost-efficient and majorly helps in resolving problems related to distortions and low focal length range.
The global high precision asphere market accounted for 19.50 billion units in 2019 and is expected to reach 28.47 billion units by 2025. The market is anticipated to grow at a CAGR of 6.80% during the forecast period 2020 to 2025. Rapid expansion of the automotive industry and the mobile phone industry provides major opportunities that the high precision asphere market is lined up with in the coming future. Over the years, major players are showing interest in high precision asphere market. Players such as Nikon Corporation, AGC Inc., Panasonic Corporation, and Canon Inc. are investing to a large extent in the global high precision asphere market in order to improvise their products as well as to capture a major market share.
Some of the strategies adopted by the companies are new product launches, business expansions, and partnerships, and collaborations. Among all the strategies adopted, partnerships and collaborations and product launches have been the leading choices implemented in the competitive landscape. Nikon Corporation, AGC Inc., Panasonic Corporation and Canon Inc. are some of the leading players in the global high precision aspherical lens market. The industry landscape is quite competitive because of the large number of players in the market. Therefore, innovation and development have been the key factors for large-scale growth in this market. To increase their overall global footprint, the manufacturers are expanding their businesses and are also entering into strategic partnerships to increase their customer base and overall reach.
Key Companies Profiled
Nikon Corporation, Canon Inc., Panasonic Corporation, HOYA Corporation, AGC Inc., Schott AG, Carl Zeiss AG, Kinko Optical Co., Ltd., Largan Optical Co, Ltd, Sunny Optical Co.,Ltd., GeniuS Electronic Optical Co., Ltd., Asia Optical Co., Ltd, Tokai Optical Co., Ltd, Seiko Holding Corporation and Tamron Optics Co., Ltd.
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