Optical Lens Market by End-user and Geography - Forecast and Analysis 2022-2026
| Published: Oct 2022 | Pages: 124 | SKU: IRTNTR74545 |
The optical lens market share is expected to increase by USD 6.12 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.96%.
The research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by end-user (consumer electronics, healthcare, life science, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The market report also offers information on several market vendors, including Accurate Optics India, Bausch Health Companies Inc., Carl Zeiss AG, Cosina Co. Ltd, Essilor International SAS, HOYA Corp., Lensel Optics Pvt Ltd., Meade Instruments, Menicon Co. Ltd., Nikon Corp., Olympus Corp., and Thorlabs Inc. among others.
What will the Optical Lens Market Size be During the Forecast Period?
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Optical Lens Market: Key Drivers, Trends, and Challenges
Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the market. During the COVID-19 pandemic, the market demand has been impacted greatly. A holistic analysis of drivers will help in exact demands and refining marketing strategies to gain a competitive advantage.
Key Optical Lens Market Driver
The growing popularity of dual-lens cameras in smartphones is one of the key drivers fueling the market growth. The use of dual-lens cameras in smartphones is growing rapidly as a consequence of the proliferation of social media applications, which encourage users to click and share pictures. Influencers on social media channels need not depend anymore on professional photography equipment such as DSLRs. This is contributing to the rapid adoption of dual-lens camera smartphones among users. Consequently, this has encouraged smartphone and tablet vendors to integrate high-quality cameras into their devices, which, in turn, is expected to attract customers and result in market growth during the forecast period.
Key Optical Lens Market Trend
The emergence of night vision devices with thermal imaging is one of the key market trends propelling market growth. Night vision capabilities provide soldiers with greater situational awareness by illuminating the surroundings during nighttime operations, while thermal imaging helps soldiers locate a target even in poor visibility conditions or total darkness. Earlier, soldiers used to carry separate night vision devices and thermal imaging devices, which increased the burden on them. However, the new goggles, which are attached to a weapon, stream a live video feed from the thermal weapon sight via Bluetooth. By integrating night vision and thermal imaging capabilities into one device, which displays the view on the goggle, the innovative headset will enhance the capabilities of soldiers. This saves the effort and time involved in physically switching between two different devices. Such factors will increase the demand for optical lenses during the forecast period.
Key Optical Lens Market Challenge
Safety concerns associated with the use of contact lenses are one of the factors limiting the market growth. Digital eye fatigue is one of the concerns associated with the use of contact lenses. It refers to various symptoms associated with prolonged exposure to digital screens, such as computers, tablets, smartphones, and TV screens. This condition causes eye tiredness, eye dryness, vision strain, or blurry vision. According to CooperVision, a subsidiary of Cooper Companies, the impact of this condition is more significant on people who wear contact lenses than on those who do not wear them. All these factors contribute to safety concerns and may hinder the growth of the global market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global optical lens market as a part of the global personal products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
Who are the Major Optical Lens Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Accurate Optics India
- Bausch Health Companies Inc.
- Carl Zeiss AG
- Cosina Co. Ltd
- Essilor International SAS
- HOYA Corp.
- Lensel Optics Pvt Ltd.
- Meade Instruments
- Menicon Co. Ltd.
- Nikon Corp.
- Olympus Corp.
- Thorlabs Inc.
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying growth strategies such as technological innovations and partnerships to compete in the market.
Product Insights and News
- thorlabs.com - The company offers optical lenses such as spherical singlet lenses, aspheric lenses, achromatic lenses, air-spaced doublets, and cylindrical lenses.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Optical Lens Market Value Chain Analysis
Our In-house experts produce extensive information on the value chain and parent market of the optical lens market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
Which are the Key Regions for Optical Lens Market?
Get a glance at the market share of various regions by Requesting a PDF Sample now!
32% of the market’s growth will originate from North America during the forecast period. The US is the key market for optical lenses in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.
The increase in the use of optical lenses in consumer electronics and in defense applications will facilitate the market's growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 had a negative impact on the regional market. However, the initiation of large-scale vaccination drives led to the removal of lockdowns and the resumption of manufacturing activities, which increased the demand for optical lenses from a wide range of applications. Such factors will drive the growth of the regional market during the forecast period.
What are the Revenue-generating End-user Segments in the Optical Lens Market?
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The market share growth in the consumer electronics segment will be significant during the forecast period. Consumer electronics include mobile phones, augmented reality, cameras, and projectors. Smartphones require optical lenses for the camera. Global smartphone sales reached 328 million units in 2021. This, together with the increase in the sales of digital single-lens reflex (DSLR) cameras, which reached 7.2 billion DSLR units globally in 2021, has increased the demand for optical lenses in smartphones and DSLR cameras, thus contributing to the increase in demand for optical lenses in the consumer electronics segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
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Optical Lens Market Scope |
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Report Coverage |
Details |
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Page number |
124 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.96% |
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Market growth 2022-2026 |
$6.12 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.0 |
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Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
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Performing market contribution |
North America at 32% |
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Key consumer countries |
US, China, Germany, UK, and France |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Accurate Optics India, Bausch Health Companies Inc., Carl Zeiss AG, Cosina Co. Ltd, Essilor International SAS, HOYA Corp., Lensel Optics Pvt Ltd., Meade Instruments, Menicon Co. Ltd., Nikon Corp., Olympus Corp., and Thorlabs Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Optical Lens Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the optical lens industry across North America, Europe, APAC, South America, and the Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
- 5.2 Comparison by End-user
- Exhibit 26: Chart on Comparison by End-user
- Exhibit 27: Data Table on Comparison by End-user
- 5.3 Consumer electronics - Market size and forecast 2021-2026
- Exhibit 28: Chart on Consumer electronics - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Consumer electronics - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Consumer electronics - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Consumer electronics - Year-over-year growth 2021-2026 (%)
- 5.4 Healthcare - Market size and forecast 2021-2026
- Exhibit 32: Chart on Healthcare - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Healthcare - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Healthcare - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Healthcare - Year-over-year growth 2021-2026 (%)
- 5.5 Life science - Market size and forecast 2021-2026
- Exhibit 36: Chart on Life science - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Life science - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Life science - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Life science - Year-over-year growth 2021-2026 (%)
- 5.6 Other - Market size and forecast 2021-2026
- Exhibit 40: Chart on Other - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Other - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Other - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Other - Year-over-year growth 2021-2026 (%)
- 5.7 Market opportunity by End-user
- Exhibit 44: Market opportunity by End-user ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison
- 7.3 North America - Market size and forecast 2021-2026
- Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 UK - Market size and forecast 2021-2026
- Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.12 France - Market size and forecast 2021-2026
- Exhibit 86: Chart on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on France - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on France - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 94: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 95: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification
- 10.3 Accurate Optics India
- Exhibit 97: Accurate Optics India - Overview
- Exhibit 98: Accurate Optics India - Product / Service
- Exhibit 99: Accurate Optics India - Key offerings
- 10.4 Bausch Health Companies Inc.
- Exhibit 100: Bausch Health Companies Inc. - Overview
- Exhibit 101: Bausch Health Companies Inc. - Business segments
- Exhibit 102: Bausch Health Companies Inc. - Key news
- Exhibit 103: Bausch Health Companies Inc. - Key offerings
- Exhibit 104: Bausch Health Companies Inc. - Segment focus
- 10.5 Carl Zeiss AG
- Exhibit 105: Carl Zeiss AG - Overview
- Exhibit 106: Carl Zeiss AG - Business segments
- Exhibit 107: Carl Zeiss AG - Key offerings
- Exhibit 108: Carl Zeiss AG - Segment focus
- 10.6 Cosina Co. Ltd
- Exhibit 109: Cosina Co. Ltd - Overview
- Exhibit 110: Cosina Co. Ltd - Product / Service
- Exhibit 111: Cosina Co. Ltd - Key offerings
- 10.7 Lensel Optics Pvt Ltd.
- Exhibit 112: Lensel Optics Pvt Ltd. - Overview
- Exhibit 113: Lensel Optics Pvt Ltd. - Product / Service
- Exhibit 114: Lensel Optics Pvt Ltd. - Key offerings
- 10.8 Meade Instruments
- Exhibit 115: Meade Instruments - Overview
- Exhibit 116: Meade Instruments - Product / Service
- Exhibit 117: Meade Instruments - Key offerings
- 10.9 Menicon Co. Ltd.
- Exhibit 118: Menicon Co. Ltd. - Overview
- Exhibit 119: Menicon Co. Ltd. - Product / Service
- Exhibit 120: Menicon Co. Ltd. - Key news
- Exhibit 121: Menicon Co. Ltd. - Key offerings
- 10.10 Nikon Corp.
- Exhibit 122: Nikon Corp. - Overview
- Exhibit 123: Nikon Corp. - Business segments
- Exhibit 124: Nikon Corp. - Key news
- Exhibit 125: Nikon Corp. - Key offerings
- Exhibit 126: Nikon Corp. - Segment focus
- 10.11 Olympus Corp.
- Exhibit 127: Olympus Corp. - Overview
- Exhibit 128: Olympus Corp. - Business segments
- Exhibit 129: Olympus Corp. - Key news
- Exhibit 130: Olympus Corp. - Key offerings
- Exhibit 131: Olympus Corp. - Segment focus
- 10.12 Thorlabs Inc.
- Exhibit 132: Thorlabs Inc. - Overview
- Exhibit 133: Thorlabs Inc. - Product / Service
- Exhibit 134: Thorlabs Inc. - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 135: Inclusions checklist
- Exhibit 136: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 137: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 138: Research methodology
- Exhibit 139: Validation techniques employed for market sizing
- Exhibit 140: Information sources
- 11.5 List of abbreviations
- Exhibit 141: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
PURCHASE FULL REPORT OF
optical lens market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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