APAC to Capture the Largest Share of Fiber-Optic Collimating Lens Market

The Fiber Optics Collimating Lens Market size is projected to grow from USD 554 million in 2021 to USD 1,081 million by 2026; it is expected to grow at a CAGR of 13.3% from 2021 to 2026.

The demand for 5G networks and their applications, such as cloud-based networking, gaming, video streaming, etc., is increasing in the telecom and networking industries. The increased demand for high-speed internet with proper connectivity can be assured by fiber optics and its components, such as collimating lenses. Growing demand for high-speed internet will act as a foundation for more internet connections, which is likely to boost the demand for more advanced internet infrastructure, which includes cables, connectors, fiber-optic collimating lenses, and other several components. Digital transformation is influencing almost every industry, with volumes of data growing rapidly. Intelligent networking of machines and sensors requires data to be transmitted for analysis and control purposes within a specific radius, which can be fulfilled by a 5G-enabled network.

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According to Ookla, LLC (US), the number of 5G deployments and 5G operators worldwide reached 18,731 and 157, respectively, in 2020. As per MarketsandMarkets™, there would be 250 million 5G subscriptions by the end of 2021 and 2.9 billion by 2026. Despite the unexpected events of 2020, 5G deployment and adoption kept increasing. Also, the 5G ecosystem is broadening with the accelerated pace of 5G during 2020 with the deployment of many 5G networks and 5G-enabled devices. 5G adoption is growing in momentum in both domains – networks and devices – with over 150 5G devices launched commercially in 2020. Thus, the rising demand for 5G networks is one of the major drivers for market growth.

1000–1500 NM wavelength to dominate fiber-optic collimating lens market during the forecast period

The 1000–1500 nm range is expected to hold a major share of the fiber-optic collimating lens market, and the market for the same is expected to grow at the highest CAGR during the forecast period. Fiber-optic collimating lenses with wavelength range from 1000–1500 nm have a major demand, as such lenses are widely used for various end-use applications such as spectroscopy and light & display measurement, among others.

Communication to hold the largest share of fiber-optic collimating lens market in 2021

Fiber-optic collimating lenses are used in communication, medical diagnostics & imaging, lasers and detectors, metrology, microscopy & spectroscopy, and others (display applications, cytometry, artificial intelligence, and LiDAR). The communication segment holds the largest market share owing to the increasing demand for digitalization and the growing need for being connected. The fiber-optic collimating lens market for communication was valued at USD 209.0 million in 2020 and is expected to reach USD 392.0 million by 2026; it is anticipated to grow at the highest CAGR of 11.7% during the forecast period. The growing demand for fiber in the communication application is the key driver for the growth of this segment.

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APAC to capture the largest share of fiber-optic collimating lens market

APAC is expected to hold the largest share of the fiber-optic collimating lens market during the forecast period. The fiber-optic collimating lens market in APAC was valued at USD 221.9 million in 2020 and is expected to reach USD 468.4 million by 2026; it is anticipated to grow at a CAGR of 13.7% between 2021 and 2026. Asian countries, particularly China and India, are expected to offer significant growth opportunities to the manufacturers of fiber-optic collimating lenses in the coming years.

AMS Technologies AG, IPG Photonics Corporation, Coherent, Fabrinet, Thorlabs Inc, Daheng New Epoch Technology, Inc (CDHC), Edmund Optics, FS.Com, and Gooch & Housego are the major players in this market. The report also profiles the companies such as TRIOPTICS, SCANLAB GmbH, Rochester Precision Optics, LightPath Technologies, CeramOptec, Fiberguide Industries, Inc., OZ Optics, Ltd., Avantes, and Laser Mechanisms with their company profiles, recent developments, COVID-19 developments, and key market strategies.