According to the report "Adaptive Optics Market by Component (Wavefront Sensor, Wavefront Modulator, Control System), End-User Industry (Consumer, Astronomy, Military & Defense, Biomedical, Industrial & Manufacturing, Communication), and Geography - Global Forecast to 2023,” published by Markets and Markets, the overall adaptive optics market is expected to be worth $2,190.9 Million by 2023, growing at a CAGR of 40.8% from 2017 to 2023.
The growing adoption of adaptive optics technology across various end-user industries is the key factor propelling the growth of the adaptive optics market. Following this, the need for corrective eyewear, increased government funding, and advancing adaptive optics technology further drive the growth of the adaptive optics market.
Wavefront sensors hold largest market share
Wavefront sensors are expected to hold the largest market share from 2017 to 2023.
The adaptive optics market for wavefront sensors components is expected to hold the largest market share from 2017 to 2023. Wavefront sensors are a key component of adaptive optics and are used in various adaptive optics applications; for instance, wavefront sensors are used for many laser applications, such as laser beam diagnostic and laser material processing for controlling laser beam shape and size to increase accuracy. Alongside this, the high price of wavefront sensors compared to other adaptive optics components has further resulted in its high revenue share.
Adaptive optics for consumer industry — highest CAGR
Adaptive optics for the consumer industry to witness the highest CAGR from 2017 to 2023
The adaptive optics market for the consumer end-user industry is expected to grow at the highest rate during the forecast period. With the development of low-cost adaptive optics and alternative systems, the consumer industry is expected to witness growth in the near future. These products are expected to be installed in head-up displays, camera lenses, and various imaging applications. Companies such as Holoeye Photonics (Germany), Santec (Japan), and Thorlabs (US) are some the key vendors for LCoS-based spatial light modulators.
Americas lead in market size
The Americas held the largest share of the adaptive optics market in 2016. In the Americas, North America is one of the fastest-growing markets, attributed to technological innovations and advancements that led to the innovation of new products. The increasing demands from the biomedical and astronomical applications have led to the growth of adaptive optics in Americas.
The companies that are profiled in this report are Teledyne e2v (UK) LTD (UK), Northrop Grumman (US), Thorlabs (US), Iris AO (US), Adaptica (Italy), Active Optical Systems (US), Flexible Optical (Netherlands), Imagine Optic (France), Boston Micromachines (US) and Phasics (France).