Global Diffractive Optical Elements Market is Expected to Grow at a CAGR of 7.6% During the Forecast Period (2018-2026) - Persistence Market Research
NEW YORK, December 12, 2018 /PRNewswire/ --
Improving Efficiency of Diffractive Optical Elements Pushing Revenues in the Global
Market
Persistence Market Research (PMR) recently published a report titled "Diffractive Optical Elements Market - Global Industry Analysis 2013-2017 and Market Forecast 2018-2026." The global diffractive optical elements market [https://www.persistencemarketresearch.com/market-research/diffractive-optical-elements-market.asp ] is expected to grow at a CAGR of 7.6% during the forecast period. The diffractive optical elements market was valued at US$ 447.8 Mn in 2017, and is projected to grow significantly to reach US$ 862.8 Mn by 2026 due to technological advancements that are leading to easy replication and production of diffractive optical elements.
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New Developments in Beam Shapers, Beam Splitters, and Diffractive Homogenizers Driving the Market
In this report, PMR has segmented the global diffractive optical elements market on the basis of type, application, industry and region. By type, the diffractive optical elements market is segmented into beam shapers, beam splitters, and diffractive homogenizers (also known as beam diffusers). The beam splitter sub-segment is expected to capture the largest market share of the global diffractive optical elements market due to the increasing demand for these instruments in biomedical devices and their usage in the healthcare sector.
Growth in the number of entry-level companies and university spin-offs for the diffractive optic business is expected to boost the diffractive optical elements market over the forecast period. There has been an increase in the number of entry-level or Tier-3 companies in the diffractive optical elements business. Moreover, several university spin-offs are now working in the diffractive optical elements market. This has increased the flow of revenue in the market as well as led to an increase in the production and easy availability of products in every space or region possible. As university spin-offs receive grants and investments from universities, it has been easy for them to set up their own business. Hence, universities from all over the world are witnessing this trend and are entering into the business. They are playing a key role in expanding the global reach of diffractive optical elements.
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Based on application, the global diffractive optical elements market is sub-segmented into laser material processing, biomedical devices, LIDAR, lithography & holographic lighting, optical sensor, communication, and others. In terms of value, the biomedical devices sub-segment is expected to capture the largest market share in the global diffractive optical elements market due to high spending on the research & development of biomedical devices and the high price of products used in biomedical devices. However, the lithography & holographic lighting sub-segment is also expected grow at a relatively higher CAGR during the forecast period in the global diffractive optical elements market.
Europe was the Largest Market in 2017 and is Expected to Remain Dominant during the Forecast Period
On the basis of geography, the diffractive optical elements market is sub-segmented into Latin America, North America, Japan, Europe, APEJ (Asia Pacific Excluding Japan), and Middle East & Africa. 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 of diffractive optical elements. The North America and SEA & other of APAC diffractive optical elements markets are also expected to capture a substantial market share in the global diffractive optical elements 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.
Diffractive Optical Elements Market Research Report Overview @ https://www.persistencemarketresearch.com/market-research/diffractive-optical-elements-market.asp
Competitive Landscape Analysis: Broadcom Inc., Jenoptik AG, and SUESS MicroTec SE are Among the Tier-1 Companies in the Market
According to PMR analysis, the diffractive optical elements market is fragmented. In addition, the top 3 players in the diffractive optical elements market are Broadcom Inc., Jenoptik AG, and SUESS MicroTec SE. These top 3 players are expected to account for a market share of around 60% of the global diffractive optical elements market. Long-term contracts with business partners, acquisitions, and continuous innovations in products are among the key strategies followed by the top players to increase revenue and new innovation strategies. Some of the market participants in the global diffractive optical elements market report include Broadcom Inc., Jenoptik AG, SUESS MicroTec SE, HOLO/OR LTD., LightTrans GmbH, Sintec Optronics Pte Ltd., HOLOEYE Photonics AG, Laser Optical Engineering Ltd, Laserglow Technologies, and SILIOS Technologies.
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