Diffractive Optical Elements (DOEs) have multilevel microreliefs (binary optics) or continuous microreliefs, with features ranging from submicron 10-millimeter dimensions and relief amplitudes of a few microns. These elements are mostly used in the micro-optic business in the recent times.
The Beam Splitter Sub-segment is Expected to Create the Highest Incremental Opportunity during the Forecast Period
In this report, PMR has segmented the global diffractive optical elements market on the basis of type, industry, application and region. By type, the diffractive optical elements market is segmented into diffractive homogenizer, which is also known as beam diffuser in the market, beam splitter, and beam shaper. The beam splitter sub-segment, followed by the beam shaper sub-segment, is expected to grow at a relatively higher CAGR in the diffractive optical elements market due to the increasing usage of diffractive elements like these in critical application areas such as in biomedical devices. However, the beam splitters sub-segment is expected to capture the largest market share of the global diffractive optical elements market and is expected to create an incremental opportunity of US$ 207.1 Mn between 2018 and 2026.
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New Developments and Opportunities in Industries Such as Telecommunications, Healthcare, and Electronics & Semiconductors are Driving the Market
As the governments from many various regions are spending highly on healthcare sector, they want the best medical devices facilities out of the investment. This is creating growth opportunities in the diffractive optical elements market and have been among the factors that are driving the market. Moreover, high spending on the research & development sector is creating potential growth opportunities for the diffractive optical elements market.
Technological Advancements in Semiconductor & Electronics and Continuously Increasing Expenditure on Healthcare are Creating Potential Growth Opportunities
Based on industry, the diffractive optical elements market is sub-segmented into telecommunication, healthcare, electronics & semiconductor, energy, and others. High spending on the research & development of biomedical devices and continuous innovations in the diffractive optical elements market are some of the major factors promoting the growth of the healthcare industry sub-segment. However, the electronics and semiconductor sub-segment is also expected grow at a relatively higher CAGR during the forecast period in the global diffractive optical elements market. In terms of value, the healthcare sub-segment is expected to create an incremental opportunity of US$ 93.4 Mn during the forecast period in the diffractive optical elements market.
Europe is Expected to be the Most Attractive Region for Growth of the Diffractive Optical Elements Market
On the basis of geography, the diffractive optical elements market is subsegmented into North America, Latin America, Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East & Africa. The diffractive optical elements market in Europe is expected to dominate the global diffractive optical elements market owing to the high spending on research & development by various countries in the region as well as the presence of major manufacturers of diffractive optical elements in the region. SEA & other APAC and North America are also expected to capture a substantial market share in the global diffractive optical elements market owing to major technological advancements in the semiconductor & electronics and the strong presence of Tier-1 manufacturers in the region. Moreover, the diffractive optical elements market in Latin America and Middle East & Africa is also expected to grow at a high CAGR owing to an increase in government spending as well as the number of research activities.
According to PMR analysis, long-term contracts with business partners are likely to increase revenue and new innovation strategies, which is expected to enable the manufacturers of diffractive optical elements to reach new growth markets. Moreover, the acquisition of businesses, technologies, and products is also expected to help the manufacturers of diffractive optical elements accelerate revenue growth and create value for shareholders. Some of the market participants in the global diffractive optical elements market report include Broadcom Inc., Jenoptik AG, SÜSS MicroTec SE, HOLO/OR LTD., LightTrans GmbH, Sintec Optronics Pte Ltd., HOLOEYE Photonics AG, Laser Optical Engineering Ltd, Laserglow Technologies, and SILIOS Technologies.