Astute Analytica reports that the global wafer level optics (WLO) market size will grow from US$ 440.7 million in 2021 and is projected to reach US$ 4,454.3 million by the year 2027. The global market will record a tremendous compound annual growth rate (CAGR) of 47% during the study period, i.e., 2017-2027.
The report’s segmentation section focuses on each category while also identifying those with the greatest influence on the worldwide market. The segmentation provided the framework for locating businesses and assessing their financial health, product portfolios, and potential for future growth. In order to forecast the level of competition, the second step involved analysing the core competencies and market shares of leading companies. To determine the size of the market as a whole, a bottom-up approach was adopted.
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Growth Influencers:
Rising demand for ever smaller micro optics with wafer level optics
The miniaturization trend and the increasing demand for compact technical products is majorly influencing the production of micro-optical components. Plastic optics can be manufactured with low cost using various replication methods. Wafer-based manufacturing use hundreds of small plastic optics can be modeled on a large glass wafer, which measures up to 300mm. Wafer-scale micro-optics fabrication based on semiconductor-based technology. Numerous components are fabricated in parallel on a wafer. These factors are increasing the demand for ever smaller micro optics with wafer level optics, hence boosting the market growth.
Segments Overview
The global wafer level optics (WLO) market is segmented based on type and application.
By Type
- Micro Lens Array
- Shack Hartmann Lens Array
- Uniform Compound Eye Lens
- Laser Collimator
The micro lens array segment is anticipated to witness the fastest growth rate of about 49.6%. These are arrays of tiny, sub-millimeter lenses used in various optical applications, such as light field cameras, CCD arrays, 3D imaging & displays, optical microscopes, LiDAR systems, and optical sensors, among others. The uniform compound eye lens is estimated to reach around USD 935.8 million by 2027.
By Application
- Consumer Electronics
- Optical Fiber Communication Camera
- Laser Medical
- Industrial Laser Shaping
The consumer electronics segment is anticipated account for the largest volume share of around 85% owing to rising application of wafer level optics in consumer electronics applications. The laser medical segment is anticipated to witness the fastest volume CAGR of about 51.4%.
Regional Overview
By region, the global wafer level optics (WLO) market is divided into Japan, Southeast Asia, India, China, Europe, North America, and the Rest of the World.
China held the largest market share of about 40% owing to the presence of a large consumer electronics industry in the country. India is expected to witness the fastest growth rate of 58.2% owing to the growing initiatives by market players in the region. The North America and Europe regions are also anticipated to witness significant growth rates.
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Competitive Landscape
Major players in the global wafer level optics (WLO) market include EV Group, China Wafer Level CSP Co., Ltd., AMS AG., Himax Technologies, Inc., Corning, Zhuhai MultiscaleOptoelectronics Technology Co.,Ltd, and AAC Technologies, among others.
The cumulative market share of the five major players is near about 67%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in June 2021, ams OSRAM signed an agreement with Acuity Brands for acquiring the digital systems business in North America. This acquisition strengthened its business in Mexico, U.S. and Canada.
The global Wafer level optics (WLO) market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Wafer level optics (WLO) market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- The report also includes wafer level optics (WLO) manufacturing cost analysis. This consists of key raw materials, key raw materials price trend, key suppliers of raw materials, proportion of manufacturing cost structure, and manufacturing process analysis of WLO
- Marketing channel, distributors, and customers
The global Wafer level optics (WLO) market report answers questions such as:
- What is the market size and forecast of the Global Wafer level optics (WLO) Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Wafer level optics (WLO) Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Wafer level optics (WLO) Market?
- What is the competitive strategic window for opportunities in the Global Wafer level optics (WLO) Market?
- What are the technology trends and regulatory frameworks in the Global Wafer level optics (WLO) Market?
- What is the market share of the leading players in the Global Wafer level optics (WLO) Market?
- What modes and strategic moves are considered favorable for entering the Global Wafer level optics (WLO) Market?
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About Astute Analytica:
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