Silicon (Si) Lenses Market Growth Accelerated by Rising Demand from Consumer Electronics Industry

 

Silicon (Si) lenses are widely used in optical systems in the areas of consumer electronics, industrial equipment, life science devices, and defense equipment. Silicon (Si) lenses provide advantages such as lightweight, vibration resistance, thermal stability, and compact design. The growing consumer electronics industry is fueling the demand for miniaturized optical components with high performance.

The global Silicon (Si) Lenses Market is estimated to be valued at US$ 215.2 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising demand for consumer electronics such as smartphones, tablets, cameras, and wearable devices is a major factor accelerating the adoption of silicon (Si) lenses. Silicon (Si) lenses offer various advantages that are well-suited for applications in compact consumer electronics devices. Miniaturization of electronics along with high pixel resolution in cameras and displays is driving the need for slim, lightweight silicon (Si) lenses with better optical properties. Ongoing advancements in manufacturing processes to mass produce low-cost silicon (Si) lenses meeting strict industrial standards will further support the market growth over the forecast period.

Segment Analysis
The global silicon (Si) lenses market is dominated by the aspheric Si lens segment. Silicon aspheric lenses offer better optical performance compared to spherical lenses. Aspheric lenses provide increased light collection efficiency and broader field of view by eliminating spherical aberrations. They produce sharper images with reduced distortion. These advantages of aspheric Si lenses have increased their adoption over conventional spherical lenses in applications such as microscopy, spectroscopy, telecommunications, and consumer electronics.

Key Takeaways
The global silicon (Si) lenses market is expected to witness high growth over the forecast period of 2023 to 2030 on account of rapid advancements in various industries adopting optical components.
Regional analysis: Asia Pacific region currently holds the largest share of the global Si lenses market. Higher production of consumer electronics and telecommunication equipment in countries like China, Japan, South Korea is driving the regional market. In addition, growth of the microelectronics industry in countries like Taiwan is also propelling the APAC silicon lenses market.

Key players: Key players operating in the silicon (Si) lenses market are Edmund Optics, Thorlabs, ISP Optics Corporation, II-VI Incorporated, Precision Optical Inc., CVI Laser Optics, Newport Corporation, LightPath Technologies, Sydor Optics, Janos Technology LLC, Reynard Corporation, Shanghai Optics Inc., Knight Optical, Rocky Mountain Instrument Co., Shanghai Optics Technology Co., Ltd. Edmund Optics and Thorlabs currently dominate the market due to their extensive product portfolios and widespread distribution networks.

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