Precision Optics Market: By Technology, By Application Medical Equipment, and Others), By End User, and Geography

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Precision Optics Market Size, Share, Growth, Trends, and Global Industry Analysis: By Technology (Ray, Wave, and Quantum), By Application (LiDAR, Lighting Solutions, Optical Communication, Intelligence, Surveillance & Reconnaissance (ISR) Medical Equipment, and Others), By End User (Commercial, Industrial, Automotive, Aerospace, Medical, Defense, and Others), and Region

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Precision Optics Market size was valued at US$ 27.5 billion in 2024 and is anticipated to reach US$ 54.9 billion by 2030, an poised to grow at a 6.8% CAGR from 2024 to 2030. The optics market is segmented to user necessity, to develop components such as optical lenses, optical mirrors, prism, and other optical applications. The growing digitalization and artificial intelligence require next-generation product development and huge investment in military equipment production, high-quality precision optics are widely used in high-resolution microscopes, gyroscopes, and lithography imagining systems are the major factor boosting market growth.

The growth of precision optics has been attributed to technological advancement in the area, the recent focus on medical and healthcare demand for precision optics for the development of smart detection equipment and health monitoring systems, and the increased demand for smart wearables also contribute to growth by utilizing optical components such as lenses, sensors create lucrative opportunities in the precision optics market. the complexity of the production of optics and the high cost of lenses limit the market growth, precision optics used in space are difficult to implement due to environmental condition that imposes thermal variations that resist the optics market growth. Artificial intelligence in optics systems allows to solve problems by stimulating complicated biological processes like learning, which are ongoing trends in the market. North America holds the major market share in 2022 due to the continuous development of consumer electronics biomedical equipment and is expected to dominate the global precision optics market in the forecasted years.

Precision Optics Market Key Developments:
  • In December 2022, Precision Optics Corporation, Inc. announced the acquisition of a follow-on production order for optical assembly totaling approximately $2.6 million.
  • In October 2021, Precision Optics acquired Lighthouse Imaging, a Leading Optical Imaging Electronics and Systems Company, a combination of two industry leaders in medical optics and digital imaging, leveraging Precision Optics next-generation capabilities in micro-optics and optical systems with Lighthouse Imaging's advanced capabilities and strong reputation in leading-edge optical imaging electronics and system integration.

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Precision Optics Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

6.8%

Largest Market

North America

Fastest Growing Market

Asia Pacific

Precision Optics Market Dynamics

The increasing demand for life and health sciences equipment across the world is the major market driver in the precision optics market during the forecast period. Optoelectronics is primarily used in fiber optics transmission, display, and laser printing as a result optoelectronics is expected to become popular with customers, and the technology development in optics systems such as LiDAR, optical communication, and surveillance gaining more traction among the population. Optoelectronics are used for high bandwidth, multichannel wavelength complied with optical communication. These factors drive global market growth at a significant rate.

Precision Optics Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2030

US$ 54.9 billion

Market CAGR

6.8%

By Technology

  • Ray
  • Wave
  • Quantum

By Application

  • LiDAR
  • Lighting Solutions
  • Optical Communication
  • Intelligence
  • Surveillance & Reconnaissance (ISR)
  • Medical Equipment
  • Others

By End User

  • Commercial
  • Industrial
  • Automotive
  • Aerospace
  • Medical
  • Defence
  • Others

Key Features of the Report

  • The precision optics market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.

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Frequently Asked Questions

The precision optics market size was valued at US$ 27.5 billion in 2023 and is anticipated to reach US$ 54.9 billion by 2029

The precision optics market is poised to grow at a significant CAGR of 6.8% from 2024 to 2030

The leading players in the Precision Optics Market are Matterson Corporation., ZEISS International., Optics & Allied Engineering Pvt. Ltd., Edmund Optics Inc., Corning Incorporated, Newport Corporation, Rochester Precision Optics, LLC., PFG Optics

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Author

Sravani

Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of expe.....

1.Executive Summary
2.Global Precision Optics Market Introduction 
2.1.Global Precision Optics Market  - Taxonomy
2.2.Global Precision Optics Market  - Definitions
2.2.1.Technology
2.2.2.Application
2.2.3.End User
2.2.4.Region
3.Global Precision Optics Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Precision Optics Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Precision Optics Market  By Technology, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Ray
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Wave
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Quantum
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
6.Global Precision Optics Market  By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. LiDAR
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Lighting Solutions
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Optical Communication
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Intelligence
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Surveillance & Reconnaissance (ISR)
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. Medical Equipment
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
6.7. Others
6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.7.3. Market Opportunity Analysis 
7.Global Precision Optics Market  By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Commercial
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Industrial
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Automotive
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Aerospace
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Medical
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
7.6. Defence
7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.6.3. Market Opportunity Analysis 
7.7. Others
7.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.7.3. Market Opportunity Analysis 
8.Global Precision Optics Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Precision Optics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Ray
9.1.2.Wave
9.1.3.Quantum
9.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.LiDAR
9.2.2.Lighting Solutions
9.2.3.Optical Communication
9.2.4.Intelligence
9.2.5.Surveillance & Reconnaissance (ISR)
9.2.6.Medical Equipment
9.2.7.Others
9.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Commercial
9.3.2.Industrial
9.3.3.Automotive
9.3.4.Aerospace
9.3.5.Medical
9.3.6.Defence
9.3.7.Others
9.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Precision Optics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Technology Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Ray
10.1.2.Wave
10.1.3.Quantum
10.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.LiDAR
10.2.2.Lighting Solutions
10.2.3.Optical Communication
10.2.4.Intelligence
10.2.5.Surveillance & Reconnaissance (ISR)
10.2.6.Medical Equipment
10.2.7.Others
10.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Commercial
10.3.2.Industrial
10.3.3.Automotive
10.3.4.Aerospace
10.3.5.Medical
10.3.6.Defence
10.3.7.Others
10.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
11.Asia Pacific (APAC) Precision Optics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Technology Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Ray
11.1.2.Wave
11.1.3.Quantum
11.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.LiDAR
11.2.2.Lighting Solutions
11.2.3.Optical Communication
11.2.4.Intelligence
11.2.5.Surveillance & Reconnaissance (ISR)
11.2.6.Medical Equipment
11.2.7.Others
11.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Commercial
11.3.2.Industrial
11.3.3.Automotive
11.3.4.Aerospace
11.3.5.Medical
11.3.6.Defence
11.3.7.Others
11.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Precision Optics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Technology Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Ray
12.1.2.Wave
12.1.3.Quantum
12.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.LiDAR
12.2.2.Lighting Solutions
12.2.3.Optical Communication
12.2.4.Intelligence
12.2.5.Surveillance & Reconnaissance (ISR)
12.2.6.Medical Equipment
12.2.7.Others
12.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Commercial
12.3.2.Industrial
12.3.3.Automotive
12.3.4.Aerospace
12.3.5.Medical
12.3.6.Defence
12.3.7.Others
12.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Precision Optics Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Technology Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Ray
13.1.2.Wave
13.1.3.Quantum
13.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.LiDAR
13.2.2.Lighting Solutions
13.2.3.Optical Communication
13.2.4.Intelligence
13.2.5.Surveillance & Reconnaissance (ISR)
13.2.6.Medical Equipment
13.2.7.Others
13.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Commercial
13.3.2.Industrial
13.3.3.Automotive
13.3.4.Aerospace
13.3.5.Medical
13.3.6.Defence
13.3.7.Others
13.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Materion Corporation.
14.2.2.Optics & Allied Engineering Pvt. Ltd.
14.2.3.Edmund Optics Inc.
14.2.4.Corning Incorporated.
14.2.5.Newport Corporation.
14.2.6.Rochester Precision Optics, LLC.
14.2.7.PFG Optics
14.2.8.ZEISS International.
15. Research Methodology 
16. Appendix and Abbreviations 

Key Market Players

  • Materion Corporation.
  • Optics & Allied Engineering Pvt. Ltd.
  • Edmund Optics Inc.
  • Corning Incorporated.
  • Newport Corporation.
  • Rochester Precision Optics, LLC.
  • PFG Optics
  • ZEISS International.

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