The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the market for global wafer level optics market from US$ 440.7 Million in 2021 to US$ 4,454.3 Million by 2027. The market is anticipated to grow at a CAGR of 47.0% during the forecast period 2022-2027. In terms of volume, the market was valued at 694.4 million units in 2021 and is projected to grow at a CAGR of 46.6% during the forecast period. Wafer level optics are optical products manufactured using semiconductor process on wafers. These optical glass wafers are used to make micro-optic components for sensing applications, including refractive and diffractive optical elements and lightguides among others. The consumer industry, telecommunications and laser technology all rely on complex optics for a variety of products. Also, the wafer-scale micro-optics fabrication is based on technology established by semiconductor industry. Moreover, the recent trends in the semiconductor industry such as thin-wafer handling, 3D-IC/TSV, subwavelength metal gratings for color filtering in CMOS technology and others will have a significant impact on the prospering micro-optics industry in the near future.
Based on type, the micro lens array segment contributed the major share in the global wafer level optics market in 2021 as micro lens array finds its application in several areas of modern optics and optical products, which further escalates the segmental growth globally. Also, micro lens array is projected to exhibit the highest CAGR during the forecast period. Moreover, on the basis of application, consumer electronics segment contributed the major share in the global wafer level optics market in 2021 owing to rising application of wafer level optics in consumer electronics applications. While, laser medical segment is expected to project the highest CAGR in the global wafer level optics market during forecast period. Whereas, based on geography, China dominated the global wafer level optics market in 2021 owing to the presence of leading market players.
Market Dynamics and Trends
Drivers
Rising demand for ever-smaller micro-optics with wafer level optics and supply chain collaborations driving adoption of wafer-level optics is expected to boost the market for wafer level optics. The growing demand for compact technical products and the miniaturization trend is two developments that are exerting a major influence on the production of micro-optical components. Moreover, micro-optics is an indispensable key enabling technology (KET) for many products and applications today due to its highly efficient refractive and diffractive micro-optical elements which are used for precise beam and pupil shaping. Furthermore, advanced adhesives and resists play a pivotal role in enabling wafer-level production of next-generation optical sensors for mass markets. Close collaboration between materials suppliers and process equipment manufacturers is key to enabling the development and refinement of processes needed to ensure high reliability and manufacturability of WLO for high-quality products.
Restraints
Commotion in the electronics industry post US-China trade war holds back the sector from performing to its full potential. The trade dispute between the US and China continues to drag on. The trade issue has already had a significant impact on US electronics imports. Thus, the US-China trade war is imposing several challenges to the growth of the wafer level optics market.
Opportunity
Biometric security technology could see growth in the global wafer level optics market in future. As consumer electronics continue to incorporate more engaging user experiences, sensors are playing a vital role in making these devices smarter. Moreover, the era of increased video meetings could boost organizational use of biometric security technology. Also, the rise in airport security initiatives and attempts to reduce the crime rates have increased the investments in biometric systems, globally.
Regional Analysis
Micro-Lens Array holds a major share in term of revenue in the North America Wafer Level Optics Market in 2021
North America wafer level optics market is expected to reach US$ 506.9 million by 2027. Among the type, micro-Lens array dominated the North America wafer level optics market in 2021. Additionally, the Micro-Lens Array is projected to grow at a highest CAGR during the forecast period.
Laser medical in Europe Wafer Level Optics Market is growing at a highest CAGR during the forecast period
Based on Application, consumer electronics segment contributed the major share in Europe wafer level optics market. Whereas the laser medical segment is expected to project the highest CAGR of 48.5% in the Europe wafer level optics market during forecast period. The continuously high penetration rate of laser surgery across medical field is leading to the rapid growth of wafer level optics in laser medical industry in the near future.
Consumer electronics segment contributed the major share in the China Wafer Level Optics Market
China wafer level optics market is expected to reach US$ 1,902.4 million by 2027. The presence of leading market players, such as Himax Technologies and several other local market players in Asia Pacific is one of the prime factors for the high market share. Based on Application, consumer electronics segment contributed the major share in the China market in 2021 owing to rising application of wafer level optics in consumer electronics applications. Whereas, in terms of type, micro-lens array holds a major share in term of revenue in the China wafer level optics market during the forecast period.
Micro-Lens Array is projected to grow at a highest CAGR during the forecast period in Japan Wafer Level Optics Market
On the basis of application, consumer electronics segment contributed the major share in the Japan market in 2021. Where, the laser medical in Japan wafer level optics market is growing at the highest CAGR of 43.5% during the forecast period. Moreover, micro- lens array is expected to grow at a highest CAGR during forecast period as these are arrays of tiny, sub-millimeter lenses used in various optical applications.
Laser medical in SEA Wafer Level Optics Market is growing at a highest CAGR during the forecast period
Micro-Lens Array holds a major share in term of revenue in the SEA wafer level optics market in 2021 due to its considerable application in the consumer electronics segment. Whereas, based on application, laser medical segment is expected to project the highest CAGR of 58.7% during the forecast period.
Consumer electronics segment contributed the major share in the India Wafer Level Optics Market
Among the Type, Micro-Lens Array holds a major share in term of revenue in the market industry of the India wafer level optics market in 2021. In terms of application, consumer electronics segment dominated the India market in 2021. The high revenue generation of electronics industry from the consumer electronics sector along with the high annual sales of smartphones are prime factors for the consumer electronics segmental growth.
Competitive Insight
Global Wafer Level Optics Market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the global wafer level market include AMS AG, Himax Technologies, Inc., EV Group, Corning, China Wafer Level CSP Co., Ltd. and AAC Technologies among others.
Segmentation Overview
Global Wafer Level Optics Market is segmented based on type, application and region. The industry trends in global wafer level optics market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Wafer Level Optics Market:
By Type Segment of the Global Wafer Level Optics Market is Sub- Segmented into:
By Application Segment of the Global Wafer Level Optics Market is Sub- Segmented into:
By Region Type Segment of the Global Wafer Level Optics Market is Sub- Segmented into:
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