The plastic lens global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Plastic Lens Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The plastic lens market size has grown strongly in recent years. It will grow from $4.92 billion in 2023 to $5.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to advancements in polymer technology, increasing demand for lightweight materials in consumer electronics and automotive sectors, and the growth of affordable eyewear options.
The plastic lens market size is expected to see strong growth in the next few years. It will grow to $6.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to continued improvements in lens durability and scratch resistance, expanding applications in augmented reality and virtual reality devices, and a growing emphasis on sustainability, pushing manufacturers towards eco-friendly materials and production methods. Major trends in the forecast period include a shift towards smart lenses with integrated sensors for health monitoring and augmented vision capabilities, rise in customized lens solutions tailored to individual prescription needs and lifestyle preferences, advancements in 3d printing and digital manufacturing technologies, increasing regulations around lens safety and quality standards, rising consumer awareness of the environmental impact of plastic waste, encouraging the development of recyclable and biodegradable lens materials.
Order your report now for swift delivery @
https://www.thebusinessresearchcompany.com/report/plastic-lens-global-market-report
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing demand for consumer electronics is expected to propel the growth of the plastic lens market going forward. Consumer electronics refers to electronic devices and appliances designed for personal use by individuals. These products are typically used for entertainment, communication, and convenience in everyday life. The demand for consumer electronics is due to technological advancements, rising disposable incomes, and growing demand for smart, connected devices, which drive the expansion of innovative and multifunctional electronic products in the market. Plastic lenses are used in consumer electronics primarily for their lightweight and impact-resistant properties, enhancing the performance and durability of devices such as smartphone cameras, digital cameras, and tablets by providing clear and efficient optical functions while contributing to the overall sleek design of these gadgets. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, consumer electronics production reached ¥32.09 billion ($0.221 billion) in May 2023, compared to ¥25.27 billion ($0.174 billion) in May 2022. Furthermore, in March 2023, according to a report published by Cybercrew, a UK-based developing and providing cybersecurity solutions for businesses of all sizes, the percentage of UK households using smartphones reached 91.43% in 2021. This percentage is projected to increase to 93.8% in 2026. Therefore, the increasing demand for consumer electronics is driving the growth of the plastic lens market.
Market Trends –
Major companies operating in the plastic lens market are focused on developing innovative products, such as camera lenses for self-driving vehicles, to enhance the safety and performance of autonomous driving systems. Camera lenses for self-driving vehicles are specialized optical components designed to capture high-resolution images and video for autonomous driving systems. For instance, in December 2022, LG Innotek Co. Ltd., a South Korea-based electronic component manufacturer, developed plastic-glass lenses for camera modules in self-driving cars. These innovative lenses combine plastic’s lightweight and impact-resistant properties with the superior optical clarity of glass, ensuring high-resolution image capture and durability in demanding conditions. The integration of these lenses into self-driving car camera systems enhances the vehicle’s ability to detect and interpret its surroundings with greater precision, contributing to improved safety and reliability.
The plastic lens market covered in this report is segmented –
1) By Type: Aspheric Lens, Spherical Lens, LED Lens, Sensor Lens, Diffractive Lens, Collimating Lens, Cylindrical Lens, Other Types
2) By Application: Safety Equipment, Sensing, Imaging, Projection Display, Flight Simulators, Detecting, Telecom Optics, Scanning, Barcode Scanner Optics
3) By End User: Medical Equipment, Scientific Equipment, Military Equipment, Consumer Electronics
Get an inside scoop of the plastic lens market, Request now for Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=19659&type=smp
Regional Insights –
North America was the largest region in the plastic lens market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic lens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the plastic lens market are Johnson & Johnson Vision Care Inc., Panasonic Holding Corporation, Canon Inc., EssilorLuxottica S.A., Luxottica Group S.p.A., Bausch + Lomb Corporation, CooperVision Inc., Carl Zeiss AG, Largan Precision Co. Ltd., Vision Express (UK) Limited, Sekonix Co. Ltd., Rodenstock GmbH, Bluebell Industries Ltd., Rayner Intraocular Lenses Limited, Calin Technology Co. Ltd., Hinode Co. Ltd., Lensel Optics Pvt. Ltd., Tokai Optical Co. Ltd., Kantatsu Co. Ltd., Sunny Optical Technology (Group) Company Limited, Nikon Corporation, AAC Technologies Holdings Inc.< /b>
Table of Contents
1. Executive Summary
2. Plastic Lens Market Report Structure
3. Plastic Lens Market Trends And Strategies
4. Plastic Lens Market – Macro Economic Scenario
5. Plastic Lens Market Size And Growth
…..
27. Plastic Lens Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
