- Ray
- Wave
- Quantum
Precision Optics Market size was valued at USD 27.5 billion in 2024 and is anticipated to reach USD 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.
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.
Asia-Pacific Got Significant Share
Precision Optics Market Regional Analysis
precision optics market in the Asia Pacific is expected to register a higher market share in 2022, it is attributed to the increasing telecommunications, aviation, defense, healthcare, and semiconductor industries consequences of high demand for advanced optics technologies in the market, the growing number of smart cities driving the demand for modern optics technology in the region and the following years it is expected to dominate the market with highest revenue share. North America is holding a significant market share in the global market, it is anticipated to grow rapidly due to number presence of global key players in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- 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.
Precision Optics Market Segmentation
By Technology
By Application
- LiDAR
- Lighting Solutions
- Optical Communication
- Intelligence
- Surveillance & Reconnaissance (ISR)
- Medical Equipment
- Others
By End User
- Commercial
- Industrial
- Automotive
- Aerospace
- Medical
- Defence
- Others
Frequently Asked Questions
The precision optics market size was valued at USD 27.5 billion in 2023 and is anticipated to reach USD 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
| 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 |
- Materion Corporation.
- Optics & Allied Engineering Pvt. Ltd.
- Edmund Optics Inc.
- Corning Incorporated.
- Newport Corporation.
- Rochester Precision Optics, LLC.
- PFG Optics
- ZEISS International.