Diffractive Optical Element Market worth $388.7 million in 2030, growing at a CAGR of 9.9%

(IT-NEWSWIRE.COM, October 07, 2024 ) The global diffractive optical element market is expected to reach USD 388.7 million in 2030 from USD 220.9 million in 2024, at a CAGR of 9.9% during the forecast period. DOEs are used in high-end optical functionalities, such as facial recognition, depth sensing, and holography in devices from smartphones to the latest AR/VR systems. With such miniature size, ultra-lightweight construction, and ability to work with even complex light patterns, DOEs are very appropriate for miniaturized electronics. DOEs are important parts in medical imaging, diagnostics, and laser-based surgery to improve the precision of laser systems used in surgeries that include eye laser surgery, microscopy, and imaging to improve patient results and be able to provide advanced treatments. These wide range of applications are increasing the adoption of DOE.

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There has been growing adoption of diffractive optics in the telecoms sector. Diffractive optical elements have been applied in 5G networks and data centers, where high demands exist for data transmission, in order to increase signal processing while maintaining low power consumption. That is driven by the need for more efficient high-speed optical communication systems where DOEs help in beam shaping and splitting for better signal quality and compact system design.

Based on component, the binary or multilevel DOE is expected to have the highest growth rate in the forecasted period. Binary/multilevel Diffractive Optical Elements (DOEs) are being adopted for all industries for their precision, efficiency, and flexibility. For example, in automotive industry advanced applications include the Light Detection and Ranging (LIDAR) system used in driverless vehicles and head-up displays (HUD). Optical elements advance the safety features and more complex vehicle technology. These increasing demand in various industries are fueling the market growth.

Based on application, biomedical devices application is expected to hold the largest market share during the forecast period. Biomedical devices are crucial to enhance the performance and precision in medical diagnostics, imaging, and laser-based treatments. Advanced imaging technologies at which DOEs are applied include optical coherence tomography (OCT), endoscopy, and microscopy. DOEs allow highly detailed imaging of tissues, which helps with the early detection and diagnosis of many diseases. This critical role and adoption of DOE is fueling the demand.

Based on region, Asia Pacific is expected to grow at the highest rate in the diffractive optical element market during the forecast period. Consumer electronics have been a very large and significant manufacturing location for the countries in the region, namely, China, South Korea, and Japan. Many devices - smartphones, AR/VR, and wearable technology - require advanced optical components like DOEs. The industrial base in the region is rapidly growing, especially in material processing, where DOEs are used in laser cutting, welding, and engraving.

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Key Market Players

Major players operating in the diffractive optical element are Zeiss Group (Germany), AGC Inc (Japan), Cohernet Corp (US), Jenoptik (Germany), HOLO/OR Ltd (Israel), Broadcom (US), Nalux Co., Ltd (Japan), Holoeye Photonics AG (Germany), Nissei Technology Corp (Japan), Sintec Optronics Ltd (Singapore). These companies have reliable manufacturing facilities and strong distribution networks across critical regions like North America, Europe, and Asia Pacific. These companies have built a strong reputation for their products and services, with a well-established portfolio reflecting their industry expertise. Their market presence is robust, backed by solid business strategies that have enabled them to maintain a significant market share.

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Diffractive Optical Element Market worth $388.7 million in 2030, growing at a CAGR of 9.9%