From 2022 to 2032, the global fiber optics collimating lens market is expected to reach US$ 2.1 billion, with a growth rate of 11.8 percent. In 2021 and 2022, the industry is expected to be worth US$ 554 million and US$ 677.4 million, respectively. In the forecast period, rising awareness of the advantages of aspheric lenses over regular lenses is expected to be the primary driver of the market. The need for fiber optic components such as collimating lenses is expected to increase as investment in fiber optics grows.
In the future years, North American internet service providers are expected to invest around $60 billion in fiber-to-the-home (FTTH) projects. In addition, telecommunications, BFSI, healthcare, and the healthcare sector are likely to be major consumers of collimating lenses over the forecast period, propelling the market forward.
In addition, the introduction of 5G networks is likely to expand revenue techniques, accelerating market growth shortly. Furthermore, the telecommunications industry, as well as the expanding demand for handling large amounts of data in transportation and manufacturing, are projected to provide lucrative expansion prospects. On the other hand, the high cost of aspheric lenses and the use of low-cost copper internet wiring are expected to stifle industry expansion.
Important Points to Remember:
- From 2022 to 2032, the global fiber collimating lens market is expected to reach USD 2.1 billion, growing at a CAGR of 11.8 percent.
- In 2022, the global fiber collimating lens market is expected to be worth USD 677.4 million.
- During the projected period, the Single-Mode Segment is expected to grow at a rate of 10.5 percent.
- From 2022 to 2032, the Fixed Segment is expected to grow by 10.5 percent.
- The US market is expected to be worth USD 660 million, up 11.1 percent over the assessment period.
- China’s market will be worth USD 151.9 billion, up 10.9 percent from last year.
AMS Technologies, IPG Photonics Corporation, Fabrinet, Thorlabs, Coherent, and others are among the leading participants in the global fiber optics collimating lens market.