High Precision Asphere Market - A Global and Regional Analysis

Focus on Application, Type, and Region - Analysis and Forecast, 2022-2031

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Market Report Coverage

High Precision Asphere Market
Forecast Period: 2022-2031
CAGR During Forecast Period: 8.1%

High Precision Asphere Market

Base Year

2021

Market Size in 2021

$2,400.0 Million

Forecast Period

2022-2031

Value Projection and Estimation by 2031

$5,214.0 Million

CAGR During Forecast Period

8.1%

Number of Tables

78

Number of Pages

142

Number of Figures

16

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some of the prominent names established in this market are:

•    Nikon Corporation
•    Canon Inc.
•    Edmund Optics
•    Panasonic Corporation
•    Hoya Corporation
•    AGC Inc.
•    SCHOTT AG
•    Carl Zeiss AG
•    Largan Precision Co., Ltd.
•    Asia Optical Co., Inc.
•    Asphericon GmbH
•    OptoSigma Corporation
•    Optimax Systems, Inc.
•    LaCroix Precision Optics
•    LightPath Technologies
•    Accusy Photontech Ltd.
•    Asphera
•    Tengjing Technologies Co., Ltd.

How can this report add value to an organization?

The product segment helps the reader understand the different types of high precision asphere available and their potential global

Product/Innovation Strategy: The product segment helps the reader understand the different types of high precision asphere available and their potential globally. Moreover, the study provides the reader with a detailed understanding of the different high precision asphere applications in automotive, cameras, mobile phones and tablets, optical instruments, and others.

Growth/Marketing Strategy: The global high precision asphere market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. For instance, in July 2019, Nikon Corporation collaborated with NIKKOR CORPORATION for the production of ED lens elements.

Competitive Strategy: Key players in the high precision asphere market analyzed and profiled in the study involves high precision asphere manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the global high precision asphere market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry & Technology Overview

The global high precision asphere market was valued at $2,400.0 million in 2021 and is expected to reach $5,214.0 million by 2031.

Global High Precision Asphere Industry Overview

The global high precision asphere market was valued at $2,400.0 million in 2021 and is expected to reach $5,214.0 million by 2031, growing at a CAGR of 8.1% between 2022 and 2031. The growth in the global high precision asphere market is expected to be driven by the deployment of high precision asphere in mobile phones and automobiles.

Market Lifecycle Stage

The high precision asphere is a growing industry. Increased research and development activities are underway to enhance the performance of aspherical lenses while reducing the weight of lenses in more complex designing processes.

Figure: High Precision Asphere Market, $Million, 2021, 2022, and 2031

High Precision Asphere Market

Industrial Impact

An increased demand for distance detectors and transmitters and increased usage of cameras by security agencies for video surveillance are some of the key driving factors. The adoption of aspherical lenses is more prominent in mobile phones and tablets owing to the increasing market penetration rate of smartphones in both developed as well as developing countries. The U.S. has the largest industry for the high precision asphere as the country inhabits a healthy environment for technological developments and advancements.

Impact of COVID-19

COVID-19 has had a significant global impact on the supply chain of the high precision asphere market. Moreover, the automotive industry witnessed a substantial decline in demand due to the several lockdowns and restrictions, which caused in decreased demand for high precision asphere.

Market Segmentation:

Segmentation 1: End-Use Application
•    Optical Instruments
•    Automotive
•    Cameras
•    Mobile Phones and Tablets
•    Others

The global high precision asphere market in the end-use application segment is expected to be dominated by mobile phones and tablets end-use applications. This is due to innovative design coupled with a wide variety of technological advancements and intensive research to provide a clear vision in smartphones and tablets.

Segmentation 2: by Product Type
•     Glass Aspherical Lens
•     Plastic Aspherical Lens

The global high precision asphere market is dominated by the glass aspherical lens. This is because these lenses have a higher range of refractive index and thus, have higher applicability areas. Moreover, glass aspherical lenses provide a better focus point and a larger focal length range.

Segmentation 3: by Region
•    North America - U.S., Canada, and Mexico
•    Europe - Germany, France, Spain, and Rest-of-Europe
•    China
•    U.K.
•    Asia-Pacific and Japan - Taiwan, Japan, South Korea, and Rest-of-Asia-Pacific and Japan
•    Rest-of-the-World

China is expected to be the largest market for high precision asphere. This is due to the high rate of consumption and production of high precision asphere lens products. Moreover, China serves as a highly cost sensitive market, which induces the requirement for low cost but efficient products.

Recent Developments in Global High Precision Asphere Market

•    In July 2019, Nikon Corporation collaborated with NIKKOR CORPORATION for the production of ED lens elements.
•    In September 2020, Nikon Corporation released a fast and ultrawide-angle zoom lens, NIKKOR Z 14-24mm f/2.8 S, for the Nikon Z mount system. This is a result of the usage of aspherical lenses as they form sharper images.

Demand – Drivers and Limitations

Following are the demand drivers for the high precision asphere market:

•    Increasing Deployment of High Precision Asphere in Mobile Phones and Tablets
•    Solving the Problem of Aberration

The market is expected to face some limitations too due to the following challenges:

•   Complex Fabrication Process
•   Challenges Related to Measurement and Coating of Aspherical Lenses

Analyst Thoughts

According to Shivam Priyadarshi, Principal Analyst, BIS Research, "The high precision asphere is expected to be the best option for a high-quality image. An additional advantage of aspheric lenses compared to conventional lenses is the decrease in the overall length of an optical system. Also, strict government regulations to have automotive cameras as a crucial part of automobiles are expected to be exponential."

Table of Contents

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1.1    Industry Outlook
         1.1.1    Trends: Current and Future
                     1.1.1.1    Increasing Demand for Autonomous Vehicles
                     1.1.1.2    Technological Advancement in High Precision Aspherical Lenses
         1.1.2    Supply Chain Network
         1.1.3    Ecosystem/Ongoing Programs
                     1.1.3.1    Regulatory Bodies
         1.1.4    Impact of COVID-19 on the High Precision Asphere Market
1.2    Business Dynamics
         1.2.1    Business Drivers
                     1.2.1.1    Solving the Problem of Aberration
                     1.2.1.2    Increasing Deployment of High Precision Asphere in Mobile Phones and Tablets
         1.2.2    Business Challenges
                     1.2.2.1    Complex Fabrication Process
                                    1.2.2.1.1    Challenges Related to Measurement and Coating of Aspherical Lenses
         1.2.3    Business Strategies
                     1.2.3.1    Product Development
                     1.2.3.2    Market Development
         1.2.4    Business Opportunities
                     1.2.4.1    Increased Adoption of Video Surveillance Drones and Body-Worn Cameras
                     1.2.4.2    Optical Systems and Industrial Camera Miniaturization
1.3    Start-Up Landscape
         1.3.1    Key Start-Ups in the High Precision Asphere Ecosystem

2.1    High Precision Asphere Market (by End-Use Application)
         2.1.1    Automotive
         2.1.2    Cameras
         2.1.3    Optical Instruments
         2.1.4    Mobile Phones and Tablets
         2.1.5    Others
2.2    Demand Analysis of the High Precision Asphere Market (by End-Use Application)
         2.2.1    Demand Analysis of the High Precision Asphere Market (by End-Use Application), Value and Volume Data

3.1    High Precision Asphere Market (by Product Type)
         3.1.1    Glass Aspherical Lens
         3.1.2    Plastic Aspherical Lens
3.2    Demand Analysis of the High Precision Asphere Market (by Product Type)
         3.2.1    Demand Analysis of the High Precision Asphere Market (by Product Type), Value and Volume Data
3.3    Product Benchmarking: Growth Rate – Market Share Matrix
3.4    Global Pricing Analysis

4.1    North America
         4.1.1    Market
                     4.1.1.1    Key Manufacturers/Suppliers in North America
                     4.1.1.2    Business Challenges
                     4.1.1.3    Business Drivers
         4.1.2    End-Use Application
         4.1.3    Product Type
         4.1.4    North America (by Country)
                     4.1.4.1    U.S.
                                    4.1.4.1.1    Market
                                                      4.1.4.1.1.1    Buyers Attributes
                                                      4.1.4.1.1.2    Key Manufacturers/Suppliers in the U.S.
                                                      4.1.4.1.1.3    Business Challenges
                                                      4.1.4.1.1.4    Business Drivers
                                    4.1.4.1.2    End-Use Application
                                    4.1.4.1.3    Product Type
                     4.1.4.2    Canada
                                    4.1.4.2.1    Market
                                                      4.1.4.2.1.1    Buyers Attributes
                                                      4.1.4.2.1.2    Key Manufacturers/Suppliers in Canada
                                                      4.1.4.2.1.3    Business Challenges
                                                      4.1.4.2.1.4    Business Drivers
                                    4.1.4.2.2    End-Use Application
                                    4.1.4.2.3    Product Type
                     4.1.4.3    Mexico
                                    4.1.4.3.1    Market
                                                      4.1.4.3.1.1    Buyers Attributes
                                                      4.1.4.3.1.2    Key Manufacturers/Suppliers in Mexico
                                                      4.1.4.3.1.3    Business Challenges
                                                      4.1.4.3.1.4    Business Drivers
                                    4.1.4.3.2    End-Use Application
                                    4.1.4.3.3    Product Type
4.2    Europe
         4.2.1    Market
                     4.2.1.1    Key Manufacturers/Suppliers in Europe
                     4.2.1.2    Business Challenges
                     4.2.1.3    Business Drivers
         4.2.2    End-Use Application
         4.2.3    Product Type
         4.2.4    Europe (by Country)
                     4.2.4.1    Germany
                                    4.2.4.1.1    Market
                                                      4.2.4.1.1.1    Buyers Attributes
                                                      4.2.4.1.1.2    Key Manufacturers/Suppliers in Germany
                                                      4.2.4.1.1.3    Business Challenges
                                                      4.2.4.1.1.4    Business Drivers
                                    4.2.4.1.2    End-Use Application
                                    4.2.4.1.3    Product Type
                     4.2.4.2    France
                                    4.2.4.2.1    Market
                                                      4.2.4.2.1.1    Buyers Attributes
                                                      4.2.4.2.1.2    Key Manufacturers/Suppliers in France
                                                      4.2.4.2.1.3    Business Challenges
                                                      4.2.4.2.1.4    Business Drivers
                                    4.2.4.2.2    End-Use Application
                                    4.2.4.2.3    Product Type
                     4.2.4.3    Spain
                                    4.2.4.3.1    Market
                                                      4.2.4.3.1.1    Buyers Attributes
                                                      4.2.4.3.1.2    Key Manufacturers/Suppliers in Spain
                                                      4.2.4.3.1.3    Business Challenges
                                                      4.2.4.3.1.4    Business Drivers
                                    4.2.4.3.2    End-Use Application
                                    4.2.4.3.3    Product Type
                     4.2.4.4    Rest-of-Europe
                                    4.2.4.4.1    Market
                                                      4.2.4.4.1.1    Buyers Attributes
                                                      4.2.4.4.1.2    Key Manufacturers/Suppliers in Rest-of-Europe
                                                      4.2.4.4.1.3    Business Challenges
                                                      4.2.4.4.1.4    Business Drivers
                                    4.2.4.4.2    End-Use Application
                                    4.2.4.4.3    Product Type
4.3    U.K.
         4.3.1    Market
                     4.3.1.1    Buyers Attributes
                     4.3.1.2    Key Manufacturers/Suppliers in the U.K.
                     4.3.1.3    Business Challenges
                     4.3.1.4    Business Drivers
         4.3.2    End-Use Application
         4.3.3    Product Type
4.4    Asia-Pacific and Japan
         4.4.1    Market
                     4.4.1.1    Key Manufacturers/Suppliers in Asia-Pacific and Japan
                     4.4.1.2    Business Challenges
                     4.4.1.3    Business Drivers
         4.4.2    End-Use Application
         4.4.3    Product Type
         4.4.4    Asia-Pacific and Japan (by Country)
                     4.4.4.1    Japan
                                    4.4.4.1.1    Market
                                                      4.4.4.1.1.1    Buyer Attributes
                                                      4.4.4.1.1.2    Key Manufacturers/Suppliers in Japan
                                                      4.4.4.1.1.3    Business Challenges
                                                      4.4.4.1.1.4    Business Drivers
                                    4.4.4.1.2    End-Use Application
                                    4.4.4.1.3    Product Type
                     4.4.4.2    South Korea
                                    4.4.4.2.1    Market
                                                      4.4.4.2.1.1    Buyer Attributes
                                                      4.4.4.2.1.2    Key Manufacturers/Suppliers in South Korea
                                                      4.4.4.2.1.3    Business Challenges
                                                      4.4.4.2.1.4    Business Drivers
                                    4.4.4.2.2    End-Use Application
                                    4.4.4.2.3    Product Type
                     4.4.4.3    Taiwan
                                    4.4.4.3.1    Market
                                                      4.4.4.3.1.1    Buyers Attributes
                                                      4.4.4.3.1.2    Key Manufacturers/Suppliers in Taiwan
                                                      4.4.4.3.1.3    Business Challenges
                                                      4.4.4.3.1.4    Business Drivers
                                    4.4.4.3.2    End-Use Application
                                    4.4.4.3.3    Product Type
                     4.4.4.4    Rest-of-Asia-Pacific
                                    4.4.4.4.1    Market
                                                      4.4.4.4.1.1    Buyer Attributes
                                                      4.4.4.4.1.2    Key Manufacturers/Suppliers in Rest-of-Asia-Pacific
                                                      4.4.4.4.1.3    Business Challenges
                                                      4.4.4.4.1.4    Business Drivers
                                    4.4.4.4.2    End-Use Application
                                    4.4.4.4.3    Product Type
4.5    China
         4.5.1    Market
                     4.5.1.1    Buyer Attributes
                     4.5.1.2    Key Manufacturers/Suppliers in China
                     4.5.1.3    Business Challenges
                     4.5.1.4    Business Drivers
         4.5.2    End-Use Application
         4.5.3    Product Type
4.6    Rest-of-the-World
         4.6.1    Market
                     4.6.1.1    Key Manufacturers/Suppliers in Rest-of-the-World
                     4.6.1.2    Business Challenges
                     4.6.1.3    Business Drivers
         4.6.2    End-Use Application
         4.6.3    Product Type

5.1    Competitive Benchmarking
         5.1.1    Competitive Position Matrix
         5.1.2    Product Matrix for Key Companies
         5.1.3    Market Share Analysis (by Company), 2021
5.2    Company Profiles
         5.2.1    Nikon Corporation
                     5.2.1.1    Company Overview
                                    5.2.1.1.1    Role of Nikon Corporation in the High Precision Asphere Market
                                    5.2.1.1.2    Product Portfolio
                                                      5.2.1.1.2.1    Nikon Corporation: Product Portfolio
                                    5.2.1.1.3    R&D Analysis
                                    5.2.1.1.4    Business Strategies
                                                      5.2.1.1.4.1    Nikon Corporation: Product Development
                                    5.2.1.1.5    Corporate Strategies
                                                      5.2.1.1.5.1    Nikon Corporation: Partnerships, Joint Ventures, Collaborations, and Alliances
                                    5.2.1.1.6    Analyst View
         5.2.2    Canon Inc.
                     5.2.2.1    Company Overview
                                    5.2.2.1.1    Role of Canon Inc. in the High Precision Asphere Market
                                    5.2.2.1.2    Product Portfolio
                                                      5.2.2.1.2.1    Canon Inc.: Product Portfolio
                                    5.2.2.1.3    R&D Analysis
                                    5.2.2.1.4    Business Strategies
                                                      5.2.2.1.4.1    Canon Inc.: Product Development
                                    5.2.2.1.5    Corporate Strategies
                                                      5.2.2.1.5.1    Canon Inc.: Partnerships, Joint Ventures, Collaborations, and Alliances
                                    5.2.2.1.6    Analyst View
         5.2.3    Edmund Optics
                     5.2.3.1    Company Overview
                                    5.2.3.1.1    Role of Edmund Optics in the High Precision Asphere Market
                                    5.2.3.1.2    Product Portfolio
                                                      5.2.3.1.2.1    Edmund Optics: Product Portfolio
                                    5.2.3.1.3    Business Strategies
                                                      5.2.3.1.3.1    Edmund Optics: Product Development
                                    5.2.3.1.4    Analyst View
         5.2.4    Panasonic Corporation
                     5.2.4.1    Company Overview
                                    5.2.4.1.1    Role of Panasonic Corporation in the High Precision Asphere Market
                                    5.2.4.1.2    Product Portfolio
                                                      5.2.4.1.2.1    Panasonic Corporation: Product Portfolio
                                    5.2.4.1.3    R&D Analysis
                                    5.2.4.1.4    Business Strategies
                                                      5.2.4.1.4.1    Panasonic Corporation: Product Development
                                    5.2.4.1.5    Analyst View
         5.2.5    HOYA Corporation
                     5.2.5.1    Company Overview
                                    5.2.5.1.1    Role of HOYA Corporation in the High Precision Asphere Market
                                    5.2.5.1.2    Product Portfolio
                                                      5.2.5.1.2.1    HOYA Corporation: Product Portfolio
                                    5.2.5.1.3    Analyst View
         5.2.6    AGC Inc.
                     5.2.6.1    Company Overview
                                    5.2.6.1.1    Role of AGC Inc. in the High Precision Asphere Market
                                    5.2.6.1.2    Product Portfolio
                                                      5.2.6.1.2.1    AGC Inc.: Product Portfolio
                                    5.2.6.1.3    Analyst View
         5.2.7    SCHOTT AG
                     5.2.7.1    Company Overview
                                    5.2.7.1.1    Role of SCHOTT AG in the High Precision Asphere Market
                                    5.2.7.1.2    Product Portfolio
                                                      5.2.7.1.2.1    SCHOTT AG: Product Portfolio
                                    5.2.7.1.3    R&D Expenditure Analysis
                                    5.2.7.1.4    Corporate Strategies
                                                      5.2.7.1.4.1    SCHOTT AG: Partnerships, Joint Ventures, Collaborations, and Alliances
                                    5.2.7.1.5    Analyst View
         5.2.8    Carl Zeiss AG
                     5.2.8.1    Company Overview
                                    5.2.8.1.1    Role of Carl Zeiss AG in the High Precision Asphere Market
                                    5.2.8.1.2    Product Portfolio
                                                      5.2.8.1.2.1    Carl Zeiss AG: Product Portfolio
                                    5.2.8.1.3    R&D Analysis
                                    5.2.8.1.4    Analyst View
         5.2.9    Largan Precision Co., Ltd.
                     5.2.9.1    Company Overview
                                    5.2.9.1.1    Role of Largan Precision Co., Ltd. in the High Precision Asphere Market
                                    5.2.9.1.2    Product Portfolio
                                                      5.2.9.1.2.1    Largan Precision Co., Ltd.: Product Portfolio
                                    5.2.9.1.3    Analyst View
     5.2.10    Asia Optical Co., Inc.
                   5.2.10.1    Company Overview
                                    5.2.10.1.1    Role of Asia Optical Co., Inc. in the High Precision Asphere Market
                                    5.2.10.1.2    Product Portfolio
                                                        5.2.10.1.2.1    Asia Optical Co., Inc.: Product Portfolio
                                    5.2.10.1.3    R&D Analysis
                                    5.2.10.1.4    Analyst View
      5.2.11    Asphericon GmbH
                   5.2.11.1    Company Overview
                                    5.2.11.1.1    Role of Asphericon GmbH in the High Precision Asphere Market
                                    5.2.11.1.2    Product Portfolio
                                                        5.2.11.1.2.1    Asphericon GmbH: Product Portfolio
                                    5.2.11.1.3    Business Strategies
                                                        5.2.11.1.3.1    Asphericon GmbH: Market Development
                                    5.2.11.1.4    Corporate Strategies
                                                        5.2.11.1.4.1    Asphericon GmbH: Partnerships, Joint Ventures, Collaborations, and Alliances
                                    5.2.11.1.5    Analyst View
     5.2.12    OptoSigma Corporation
                   5.2.12.1    Company Overview
                                    5.2.12.1.1    Role of OptoSigma Corporation in the High Precision Asphere Market
                                    5.2.12.1.2    Product Portfolio
                                                        5.2.12.1.2.1    OptoSigma Corporation: Product Portfolio
                                    5.2.12.1.3    Corporate Strategies
                                                        5.2.12.1.3.1    OptoSigma Corporation: Partnerships, Joint Ventures, Collaborations, and Alliances
                                    5.2.12.1.4    Analyst View
     5.2.13    Optimax Systems, Inc.
                   5.2.13.1    Company Overview
                                    5.2.13.1.1    Role of Optimax Systems, Inc. in the High Precision Asphere Market
                                    5.2.13.1.2    Product Portfolio
                                                        5.2.13.1.2.1    Optimax Systems, Inc.: Product Portfolio
                                    5.2.13.1.3    Analyst View
     5.2.14    LaCroix Precision Optics
                   5.2.14.1    Company Overview
                                    5.2.14.1.1    Role of LaCroix Precision Optics in the High Precision Asphere Market
                                    5.2.14.1.2    Product Portfolio
                                                        5.2.14.1.2.1    LaCroix Precision Optics: Product Portfolio
                                    5.2.14.1.3    Analyst View
     5.2.15    LightPath Technologies
                   5.2.15.1    Company Overview
                                    5.2.15.1.1    Role of LightPath Technologies in the High Precision Asphere Market
                                    5.2.15.1.2    Product Portfolio
                                                        5.2.15.1.2.1    LightPath Technologies: Product Portfolio
                                    5.2.15.1.3    Production Sites
                                                        5.2.15.1.3.1    LightPath Technologies: Production Sites
                                    5.2.15.1.4    Analyst View
     5.2.16    Accusy Photontech Ltd.
                   5.2.16.1    Company Overview
                                    5.2.16.1.1    Role of Accusy Photontech, Ltd. in the High Precision Asphere Market
                                    5.2.16.1.2    Product Portfolio
                                                        5.2.16.1.2.1    Accusy Photontech, Ltd.: Product Portfolio
                                    5.2.16.1.3    Analyst View
     5.2.17    Asphera
                   5.2.17.1    Company Overview
                                    5.2.17.1.1    Role of Asphera in the High Precision Asphere Market
                                    5.2.17.1.2    Product Portfolio
                                                        5.2.17.1.2.1    Asphera: Product Portfolio
                                    5.2.17.1.3    Analyst View
     5.2.18    Tengjing Technologies Co., Ltd.
                   5.2.18.1    Company Overview
                                    5.2.18.1.1    Role of Tengjing Technology Co., Ltd. in the High Precision Asphere Market
                                    5.2.18.1.2    Product Portfolio
                                                        5.2.18.1.2.1    Tengjing Technology Co., Ltd: Product Portfolio
                                    5.2.18.1.3    Analyst View

Research Methodology

Table 1:    Key Product Development, 2019-2022
Table 2:    Key Market Development, 2019-2021
Table 3:    High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 4:    High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 5:    High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 6:    High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 7:    Global Pricing Analysis of High Precision Asphere Lens Type, $ Per Unit, 2021-2031
Table 8:    High Precision Asphere Market (by Region), $Million, 2021-2031
Table 9:    High Precision Asphere (by Region), Million Unit, 2021-2031
Table 10:    North America High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 11:    North America High Precision Asphere Market (by End-Use Application, Million Unit, 2021-2031
Table 12:    North America High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 13:    North America High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 14:    U.S. High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 15:    U.S. High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 16:    U.S. High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 17:    U.S. High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 18:    Canada High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 19:    Canada High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 20:    Canada High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 21:    Canada High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 22:    Mexico High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 23:    Mexico High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 24:    Mexico High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 25:    Mexico High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 26:    Europe High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 27:    Europe High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 28:    Europe High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 29:    Europe High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 30:    Germany High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 31:    Germany High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 32:    Germany High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 33:    Germany High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 34:    France High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 35:    France High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 36:    France High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 37:    France High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 38:    Spain High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 39:    Spain High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 40:    Spain High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 41:    Spain High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 42:    Rest-of-Europe High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 43:    Rest-of-Europe High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 44:    Rest-of-Europe High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 45:    Rest-of-Europe High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 46:    U.K. High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 47:    U.K. High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 48:    U.K. High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 49:    U.K. High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 50:    Asia-Pacific and Japan High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 51:    Asia-Pacific and Japan High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 52:    Asia-Pacific and Japan High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 53:    Asia-Pacific and Japan High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 54:    Japan High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 55:    Japan High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 56:    Japan High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 57:    Japan High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 58:    South Korea High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 59:    South Korea High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 60:    South Korea High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 61:    South Korea High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 62:    Taiwan High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 63:    Taiwan High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 64:    Taiwan High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 65:    Taiwan High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 66:    Rest-of-Asia-Pacific High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 67:    Rest-of-Asia-Pacific High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 68:    Rest-of-Asia-Pacific High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 69:    Rest-of-Asia-Pacific High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 70:    China High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 71:    China High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 72:    China High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 73:    China High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 74:    Rest-of-the-World High Precision Asphere Market (by End-Use Application), $Million, 2021-2031
Table 75:    Rest-of-the-World High Precision Asphere Market (by End-Use Application), Million Unit, 2021-2031
Table 76:    Rest-of-the-World High Precision Asphere Market (by Product Type), $Million, 2021-2031
Table 77:    Rest-of-the-World High Precision Asphere Market (by Product Type), Million Unit, 2021-2031
Table 78:    Product Matrix for Key Companies

Figure 1:    High Precision Asphere Market, $Million, 2021, 2022, and 2031
Figure 2:    High Precision Asphere Market (by End-Use Application), $Million, 2021 and 2031
Figure 3:    High Precision Asphere Market (by Product Type), $Million, 2021 and 2031
Figure 4:    High Precision Asphere Market (by Region), $Million, 2021 and 2031
Figure 5:    High Precision Asphere Market Coverage
Figure 6:    Product Benchmarking, 2021
Figure 7:    Nikon Corporation: R&D Expenditure, $Million, 2019-2021
Figure 8:    Canon Inc.: R&D Expenditure, $Million, 2019-2021
Figure 9:    Panasonic Corporation: R&D Expenditure, $Million, 2019-2021
Figure 10:    SCHOTT AG: R&D Expenditure, $Million, 2019-2020
Figure 11:    Carl Zeiss AG: R&D Expenditure, $Million, 2019-2020
Figure 12:    Asia Optical Co., Inc.: R&D Expenditure, $Million, 2019-2020
Figure 13:    Research Methodology
Figure 14:    Top-Down and Bottom-Up Approach
Figure 15:    Influencing Factors of the High Precision Asphere Market
Figure 16:    Assumptions and Limitations

Market Report Coverage

High Precision Asphere Market

Base Year

2021

Market Size in 2021

$2,400.0 Million

Forecast Period

2022-2031

Value Projection and Estimation by 2031

$5,214.0 Million

CAGR During Forecast Period

8.1%

Number of Tables

78

Number of Pages

142

Number of Figures

16

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some of the prominent names established in this market are:

•    Nikon Corporation
•    Canon Inc.
•    Edmund Optics
•    Panasonic Corporation
•    Hoya Corporation
•    AGC Inc.
•    SCHOTT AG
•    Carl Zeiss AG
•    Largan Precision Co., Ltd.
•    Asia Optical Co., Inc.
•    Asphericon GmbH
•    OptoSigma Corporation
•    Optimax Systems, Inc.
•    LaCroix Precision Optics
•    LightPath Technologies
•    Accusy Photontech Ltd.
•    Asphera
•    Tengjing Technologies Co., Ltd.

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of high precision asphere available and their potential globally. Moreover, the study provides the reader with a detailed understanding of the different high precision asphere applications in automotive, cameras, mobile phones and tablets, optical instruments, and others.

Growth/Marketing Strategy: The global high precision asphere market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. For instance, in July 2019, Nikon Corporation collaborated with NIKKOR CORPORATION for the production of ED lens elements.

Competitive Strategy: Key players in the high precision asphere market analyzed and profiled in the study involves high precision asphere manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the global high precision asphere market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry & Technology Overview

Global High Precision Asphere Industry Overview

The global high precision asphere market was valued at $2,400.0 million in 2021 and is expected to reach $5,214.0 million by 2031, growing at a CAGR of 8.1% between 2022 and 2031. The growth in the global high precision asphere market is expected to be driven by the deployment of high precision asphere in mobile phones and automobiles.

Market Lifecycle Stage

The high precision asphere is a growing industry. Increased research and development activities are underway to enhance the performance of aspherical lenses while reducing the weight of lenses in more complex designing processes.

Figure: High Precision Asphere Market, $Million, 2021, 2022, and 2031

High Precision Asphere Market

Industrial Impact

An increased demand for distance detectors and transmitters and increased usage of cameras by security agencies for video surveillance are some of the key driving factors. The adoption of aspherical lenses is more prominent in mobile phones and tablets owing to the increasing market penetration rate of smartphones in both developed as well as developing countries. The U.S. has the largest industry for the high precision asphere as the country inhabits a healthy environment for technological developments and advancements.

Impact of COVID-19

COVID-19 has had a significant global impact on the supply chain of the high precision asphere market. Moreover, the automotive industry witnessed a substantial decline in demand due to the several lockdowns and restrictions, which caused in decreased demand for high precision asphere.

Market Segmentation:

Segmentation 1: End-Use Application
•    Optical Instruments
•    Automotive
•    Cameras
•    Mobile Phones and Tablets
•    Others

The global high precision asphere market in the end-use application segment is expected to be dominated by mobile phones and tablets end-use applications. This is due to innovative design coupled with a wide variety of technological advancements and intensive research to provide a clear vision in smartphones and tablets.

Segmentation 2: by Product Type
•     Glass Aspherical Lens
•     Plastic Aspherical Lens

The global high precision asphere market is dominated by the glass aspherical lens. This is because these lenses have a higher range of refractive index and thus, have higher applicability areas. Moreover, glass aspherical lenses provide a better focus point and a larger focal length range.

Segmentation 3: by Region
•    North America - U.S., Canada, and Mexico
•    Europe - Germany, France, Spain, and Rest-of-Europe
•    China
•    U.K.
•    Asia-Pacific and Japan - Taiwan, Japan, South Korea, and Rest-of-Asia-Pacific and Japan
•    Rest-of-the-World

China is expected to be the largest market for high precision asphere. This is due to the high rate of consumption and production of high precision asphere lens products. Moreover, China serves as a highly cost sensitive market, which induces the requirement for low cost but efficient products.

Recent Developments in Global High Precision Asphere Market

•    In July 2019, Nikon Corporation collaborated with NIKKOR CORPORATION for the production of ED lens elements.
•    In September 2020, Nikon Corporation released a fast and ultrawide-angle zoom lens, NIKKOR Z 14-24mm f/2.8 S, for the Nikon Z mount system. This is a result of the usage of aspherical lenses as they form sharper images.

Demand – Drivers and Limitations

Following are the demand drivers for the high precision asphere market:

•    Increasing Deployment of High Precision Asphere in Mobile Phones and Tablets
•    Solving the Problem of Aberration

The market is expected to face some limitations too due to the following challenges:

•   Complex Fabrication Process
•   Challenges Related to Measurement and Coating of Aspherical Lenses

Analyst Thoughts

According to Shivam Priyadarshi, Principal Analyst, BIS Research, "The high precision asphere is expected to be the best option for a high-quality image. An additional advantage of aspheric lenses compared to conventional lenses is the decrease in the overall length of an optical system. Also, strict government regulations to have automotive cameras as a crucial part of automobiles are expected to be exponential."

FAQ's

What is high precision asphere?

High precision asphere refers to the lens used to eliminate spherical aberration. It serves various functions, which include the reduced length of optical instruments, improved image quality, system miniaturization, and improved aberration correction.

What are the key trends in the high precision asphere market?

The key trends in the high precision asphere market include growing demand for autonomous vehicles and increased usage of multi-sensor cameras.

What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?

The global high precision asphere market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. According to BIS Research, the majority of the companies preferred partnerships, collaborations, and joint ventures as a strategy to further increase their growth in the global high precision asphere market.

For a new company looking to enter the high precision asphere market, which areas could it focus upon to stay ahead of the competition?

A new entrant can focus on developing and producing cost-effective high precision asphere with elevated performance.

What is the USP of this report?

The following can be seen as some of the USPs of the report:

•    Market ranking analysis based on product portfolio, recent developments, and regional spread
•    Investment landscape including product adoption scenario, funding, and patent analysis

Who should buy this report?

The companies which are manufacturing high precision asphere and companies that use those aspherical lenses such as automotive industries, optical instruments, mobile phones, and tablets, should buy this report.

High Precision Asphere Market - A Global and Regional Analysis

Focus on Application, Type, and Region - Analysis and Forecast, 2022-2031