Diffractive Optical Element Market worth $388.7 million in 2030 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 3, 2024 /PRNewswire/ — The global diffractive optical element market is expected to reach USD 388.7 million in 2030 from USD 220.9 million in 2024, at a CAGR of 9.9% during the forecast period according to a new report by MarketsandMarkets™. DOEs are rapidly becoming a major component in the development of recent emerging technologies such as AR, VR, and automotive systems. In AR/VR devices, DOEs play a part toward producing high-quality visual experiences with an efficient light management in compact, lightweight optics. This is crucial to generating high-quality dynamic images in headsets and holographic displays. DOEs also enable the development of head-up displays that project vital information into windshields, thus improving safety and experience for drivers. Thus rising demand for these technologies boosts the demand for DOEs in these sectors.
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Browse in-depth TOC on “Diffractive Optical Element Market”
216 – Tables
55 – Figures
221 – Pages
Diffractive Optical Element Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2024 |
$ 220.9 million |
|
Estimated Value by 2030 |
$ 388.7 million |
|
Growth Rate |
Poised to grow at a CAGR of 9.9% |
|
Market Size Available for |
2020–2030 |
|
Forecast Period |
2024–2030 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Type, Component, Application, End User and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Key Market Challenge |
Uncertainties in DOE fabrication |
|
Key Market Opportunities |
Emerging applications in augmented reality (AR) and virtual reality (VR) |
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Key Market Drivers |
Advancements in laser technology to fuel the demand for diffractive optical element |
The diffractive pattern generator segment is expected to grow fastest in forecast period.
The diffractive pattern generator is expected to grow fastest during the forecast period. Diffractive Pattern Generators are required for applications involving precise, customizable light pattern generation, which is gaining traction widely across various industry segments. In certain devices like smartphones and AR/VR systems, diffractive Pattern Generators are used in some applications like 3D sensing, facial recognition, and holographic displays that require accurate projection of light patterns for optimal performance.
The industrial segment is dominating in diffractive optical element market.
The industrial segment is dominating in diffractive optical element market, boosted by several factors. DOEs enable precise manipulation of laser beams which is necessary for cutting, welding, engraving, and micromachining processes. High-power lasers can be handled with this without losing accuracy. This makes the DOEs to be beneficial for the industrial setting due to its high demand. The trend toward miniaturization, microfabrication, and high-quality surface treatments can thus be added in the increase of DOE usage in material processing and dominate this market segment.
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US in the North America region to dominate the diffractive optical element industry during the forecast period.
DOEs are widely employed in various industries in the United States, such as aerospace, defense, healthcare, and semiconductor manufacturing. The applications like laser-based material processing, medical devices, and optical communication have created strong driving forces for DOEs in these sectors in the country. The country emphasizes on innovation supported through high investment in R&D into photonics, optics, and lasers. This enables the development of DOE applications in AR/VR, telecommunications, and autonomous vehicles.
Key players
The diffractive optical element companies includes significant Tier I and II players like M Zeiss Group (Germany), AGC Inc (Japan), Cohernet Corp (US), Jenoptik (Germany), HOLO/OR Ltd (Israel), Broadcom (US), Nalux Co., Ltd (Japan), Holoeye Photonics AG (Germany), Nissei Technology Corp (Japan), Sintec Optronics Ltd (Singapore) are some of the key players in the diffractive optical element market.
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