global adaptive optics market will exhibit a staggering 83.9% CAGR over the period between 2016 and 2024, in terms of revenue. Expanding at this astounding pace, the market, which had a valuation of US$458.3 mn in 2015, will rise to US$109,685.9 mn by 2024.
Albany, NY -- (SBWIRE) -- 12/14/2016 -- Adaptive optics is a technology used to enhance the efficiency of an optical system by reducing the wavefront distortion effects. Adaptive optics primarily aims to correct the deformation of a coming wavefront by defacing a mirror for compensating the distortion. In order to provide an in-depth analysis of the adaptive optics market, the market has been segmented on the basis of technology, application and geography. Various technology used in adaptive optics includes wafefront modulator, wavefront sensor and control system. Adaptive optics also finds its application across various sectors including biomedical, defense and security, astronomy, manufacturing, consumer devices and communication. The market of adaptive optics is estimated to experience an exponential growth rate during the forecast period from 2016 to 2024 owing to rapid growth of various application segment across the globe.
Global Adaptive Optics Market: Growth Dynamics
Initiatives taken by the government to encourage rapid research and development activities in the optics industry is the primary factor responsible for the growing demand of technologically advanced adaptive optics during the forecast period from 2016 to 2024. In addition, increasing demand of adaptive optics from medical sector, astronomy and cellular imaging sector coupled with reduction in price of adaptive optics components owing to rapid technological advancement in material technology is also predicted to trigger the demand of adaptive optics in the coming years. In addition, rapid growth of the ophthalmology and retinal imaging treatments across the globe due to growing number of aging population and increasing adoption of retinal implants is also anticipated to create a better opportunity for various adaptive optics manufacturers during the forecast period.
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However, Increasing regulatory compliances in line up with rising health treatment cost due to tax reforms are some of the major factors anticipated to affect the market growth of adaptive optics in the coming years. Adaptive optics technology involves aiming high frequency lasers into the lower atmosphere to correct for atmospheric distortions. There are different regulatory issues pertaining to the use of powerful lasers, which in turn is restraining the growth of adaptive optics market to some extent.
Global Adaptive Optics Market: Scope of the Report
This report highlights the current market synopsis of the adaptive optics market along with future anticipated market growth during the period from 2016 to 2024. In addition, various political, economic, social and technological factors that are anticipated to affect the current and future demand of adaptive is also provided in this report. In addition, information related to key players operating in the market along with their market share and key strategies adopted to maintain their leading position is also provided in this report. The report also contains the present market size of adaptive optics technology in terms of revenue (USD Million) along with predictive forecast from 2016 to 2024.
Global Adaptive Optics Market: Segmentation
Based on technology, the global adaptive optics market is majorly driven by wavefront sensors with highest market share in 2015. Extensive use of wavefront sensor for detecting the state of wavefront across the adaptive optic technology is the primary factor behind this segment's dominance. However, the market for control system used to measures the shape of the wavefront and produces signals that represent the wavefront, is predicted to experience the most promising market during the forecast period from 2016 to 2024.
By application, adaptive optics is majorly used in defense and security sector. The defense and security sector held the largest market share in 2015 and is predicted to maintain its dominance in the coming years. Adaptive optics are increasing used various defense communication system, surveillance and laser missile defense system. On the other hand, in terms of growth, consumer devices is predicted to witness the most promising market during the forecast period. Increasing demand for consumer devices having quick response, high optical quality and less power consumption are some of the key factors anticipated to boost the demand adaptive optics from various consumer goods manufacturers in the coming years.
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Some of the major players operating in the adaptive optics market include includes Benchmark Electronics, Inc. (U.S.), Northrop Grumman Corporation (U.S.), IRIS AO, Inc. (U.S.), Olympus Corp. (Tokyo), Boston Micromachines Corporation (U.S.), Raytheon Co. (U.S.), Canon Inc. (Japan), Carl Zeiss Meditec AG (Germany), Celestron LLC (U.S.) and Sacher Lasertechnik Gmbh (Germany) among others.
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