According to the MarkNtel Advisors’ research report, “Global High Precision Asphere Market Analysis, 2021," the market is likely to grow at a CAGR of 7% during 2021-26. The most notable benefit of aspheres is their ability to reduce spherical aberration, i.e., an optical issue that occurs when incident light rays focus on different points while forming an image, resulting in a blur. Additionally, it is also a great solution to the problem of astigmatism and Distortion. Further, Aspheres are the most preferred lens by the people who wear eyeglasses as they are lightweight and offer a slimmer & thinner profile.
Moreover, along with the number of advantages offered by the asphere lenses over conventional lenses, certain disadvantages associated with it include that it is challenging to manufacture asphere lenses due to their unique configuration and thus comes at a higher cost.
Camera Segment Exhibits Fastest Growth
Based on the Applications, the market segments into Automotive, Camera, Mobile Phone and Tab, and Optical instruments. Among these, the camera segment is likely to grow at a robust rate during the forecast period. The aspheres are a standard configuration in cameras as they enhance the optical quality of camera lenses. The Aspheres offer no distortion and help in maintaining uniform focus across the frame.
Further, the aspherical lens provides sharper images, especially at wider apertures. Along with this, it can minimize optical imperfections like chromatic aberrations. Hence, the aspherical lenses were widely used in cameras by different industries, thereby fueling the market growth.
“Global High Precision Asphere Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and available opportunities for High Precision Asphere providers across the globe. Moreover, the report also encompasses the key strategic imperatives for the competitors' success and strategic factorial indexing measuring competitors' capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
Globally, the Asia-pacific market can certainly register the fastest growth in the Global High Precision Asphere market during 2021-26 owing to the technological advancements in emerging countries like India and China. Further, due to the surging expansion of the mobile phone and automotive industry, the demand for the aspherical lens has significantly increased by these end-users in the region. Thereby, this region is likely to contribute to the global High Precision Asphere market growth in the forecast period, reveals MarkNtel Advisors in their research report, "Global High Precision Asphere Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the global High Precision Asphere market are Largan Precision Co., Nikon Corporation, Canon Inc., HOYA Corporation, AGC Inc., Panasonic Corporation, Carl Zeiss AG, SCHOTT AG, Ltd, Sunny Optical Technology Company Limited, Genius Electronic Optical Co., Ltd., Asia Optical Co., Inc., Kinko Optical Co. Ltd., Inc., Seiko Holdings Corporation, Tamron Co., Ltd, and Tokai Optical Co.,
Key questions answered in the study