The fiber optic collimating lens market is on a remarkable growth trajectory, with projections indicating it will exceed a valuation of US$2,394.5 million by the year 2033. This impressive ascent is driven by a robust CAGR of 11.6%.
The growing need for fast internet is expected to stimulate the demand for internet connections. This is likely to strengthen the demand for an upgraded internet system, which includes things like cables, connectors, fiber optics, and other essential components.
The logistics and manufacturing sectors are likely to be benefitted from fiber optics owing to their operations and services, which are dependent on high-speed bandwidth. The sector demands heavy data for purposes such as several products manufactured, and raw materials received, among others.
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The market in North America is expected to secure a lion’s share during the forecast period. According to FMI’s analysis, the market in the United States is expected to secure US$ 660.1 million while recording a CAGR of 11.3% from 2023 to 2033. In 2022, the United States captured a 15.6% share of the global market.
Players in the market adopt various strategies to secure a forefront position in the market. Key players in the global fiber optic collimating lens market include IPG Photonics Corporation, AMS Technologies, Fabrinet, Coherent, Thorlabs, and others. The key players emphasize technological developments, new product launches, mergers, acquisitions, and other strategies to maximize their growth in the global market.
Key Takeaways from the Fiber Optic Collimating Lens Market Report:
- The global fiber collimating lens market is estimated at USD 2.1 Bn expanding at a CAGR of 11.8% from 2022 to 2032
- The global fiber collimating lens market to value USD 677.4 Mn in 2022
- The Single Mode Segment to expand at 10.5% during the forecast period
- The Fixed Segment to record 10.5% from 2022 to 2032
- The U.S market to value USD 660 Mn, expanding at 11.1% during the assessment period
- Market in China to Value USD 151.9 Mn exhibiting a 10.9% growth rate
Recent Developments Observed by FMI:
- In August 2021, SABIC launched a new PEI resin that is suited for optical transceiver collimator lenses and ensures alignment with single-mode fibers. SABIC is promoting the use of single-mode fiber optic, a developing data center infrastructure technology enabling swift transmission of substantial amounts of data across great distances.
- In April 2021, Thorlabs released a new passively Q-Switched laser producing 500 PS pulses centered at 1030 nm. The microjoule-level pulse energies produced at kHz repetition rates enable multiple applications, LIDAR, laser-induced breakdown spectroscope, and material processing.
Key Players in the Global Market:
- IPG Photonics Corporation
- AMS Technologies
- Fabrinet
- Coherent
- Thorlabs
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Fiber Optic Collimating Lens Market Segmentation:
By Type:
- Adjustable
- Fixed
By Mode:
- Single Mode
- Multi-mode
By Wavelength:
- <1000 NM
- 1000 to 1500 NM
- 1500 to 2000 NM
- >2000 NM
By Application:
- Communication
- Medical Diagnostic & Imaging
- Lasers and Detectors
- Metrology
- Spectroscopy and Microscopy
- Other Applications
By Lens Type:
- Aspheric
- GRIN
- Other
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
Author By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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