Global High Precision Asphere Market Analysis, 2021

Market Overview

Asphere is a lens not designed by taking portions of a sphere or cylinder. They are flatter than conventional lenses, have a more complex front surface with a gradual curve, and offer the same vision-enhancing benefits.

According to the publisher’ research report, “Global High Precision Asphere Market Analysis, 2021, the market is likely to grow at a CAGR of around 7% during 2021-26. Aspheres help reduce the spherical aberration, which occurs when the lens cannot focus all incident lights on the same point. Therefore, Aspheres can achieve a high level of precision-focus as compared to the standard spherical lenses.

Due to their irregular surface, Aspheres can simultaneously manipulate several light wavelengths more precisely, thereby creating sharper images. They can also correct off-axis aberration like field curvature. Thus, the High Precision Asphere Market will grow significantly across the world over the coming years.

Impact of COVID-19

The impact of COVID-19 on the Global High Precision Asphere Market growth was negative in 2020 due to a decline in usage of Aspheres by most end-users. However, the market is likely to revert to its usual growth rate in the forecast timeline. For instance, there was likely an initial decrease in the production capacity of Aspheres owing to the lockdown and temporary shutdown of manufacturing units. However, as the market resumes, the demand for aspherical lenses is likely to increase substantially for different applications.

Market Segmentation

Plastic Aspherical Lens Accounted for the Largest Market Share

Within product Type Segment, the Global High Precision Asphere Market segments into Glass Aspherical Lens and Plastic Aspherical Lens. In 2019, the Plastic Aspherical Lens segment acquired the largest share in the market owing to its high durability, comfort, and impact resistance. Additionally, it is lighter and comes at a much lower cost than the glass lens. Therefore, the demand for the plastic aspherical lens is high, reveals the author in their research report Global High Precision Asphere Market Analysis, 2021.

Optical Instruments Held the Highest Market Share

Based on the Application, the market bifurcates into Automotive, Cameras, Mobile Phones and Tab, and Optical instruments. The Optical Instruments segment attained the largest share in the Global High Precision Asphere market in 2019, as Aspheres reduce the spherical aberrations of the lens, thereby making the vision clear. Further, Aspheres help get the lens flatter & thinner to making the appearance beautiful and reduce the peripheral magnification.

Regional Landscape

North America Accounted for the Largest Market Share

Geographically, North America held the largest share in the Global High Precision Asphere Market in 2019 and is likely to maintain its dominance over the forecast period. The United States and Canada have a well-developed infrastructure for healthcare as well as for the automotive industry. Therefore, these systems encourage R&D activities for their development. Additionally, these countries have several leading industrial players owing to supportive government policies, thereby propelling the market growth in the region.

Market Driver

Rising Usage of High Precision Cameras

The aspherical lenses are highly preferred over spherical lenses in cameras by different industries; they provide a high level of precision focus and help in offering sharper images due to their ability to manipulate different wavelengths. It consists of corrective functions that help correct the edge of the image, thereby enhancing the image quality.

Competitive Landscape

According to the publishers, the major leading players in the global High Precision Asphere market are Nikon Corporation, Canon Inc., Panasonic Corporation, HOYA Corporation, AGC Inc., SCHOTT AG, Carl Zeiss AG, Kinko Optical Co. Ltd., Largan Precision Co., Ltd, Sunny Optical Technology Company Limited, Genius Electronic Optical Co., Ltd., Asia Optical Co., Inc., Tokai Optical Co., Inc., Seiko Holdings Corporation, and Tamron Co., Ltd.

Key Questions Answered in the Market Research Report:

1. What are the overall market statistics or market estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global High Precision Asphere Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global High Precision Asphere Market?
4. Who are the key competitors, their key strengths and weaknesses, and how do they perform in Global High Precision Asphere Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global High Precision Asphere Market study?