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Fiber Optic Beam Expander Market - Forecast(2024 - 2030)
Fiber Optic Beam Expander Market Overview
The Fiber Optic Beam Expander Market size is estimated to reach $2.1 billion by 2028, growing at a CAGR of 6.8% from 2023 to 2028. Increased production of solar cells and
photovoltaics as well as increased demand for laser systems processing and
optical measurement systems are driving the Fiber Optic Beam Expander industry
forward. Furthermore, there has been a rapid large-scale expansion of fiber
optics transport and access networks in the telecommunication industry. This
also propels the Fiber optics beam expander industry forward. Beam expanders
aid in the conversion of divergent particle or radiation beams into parallel
beams and they are being installed in a wide range of optical communication
devices such as switches, transmitters, modulators, attenuators, circulators, optical
isolators and others. Different designs such as Galilean beam expanders and
Keplerian beam expanders have their own set of applications which in turn
ensures the widespread applications of the fiber beam expanders. These
aforementioned factors would positively influence the Fiber Optic Beam Expander
industry outlook during the forecast period.
Report Coverage
The report: “Fiber Optic Beam Expander Industry Outlook
– Forecast (2023-2028)” by IndustryARC, covers an in-depth analysis of the
following segments in the Fiber Optic Beam Expander industry.
Key Takeaways
- In the Fiber Optic Beam Expander Market report, the optical communication segment is expected to grow at the highest CAGR of 7.3% owing to factors such as growing demand across industrial and commercial sectors and advantages such as high spatial resolution and minimization of energy loss.
- The Medical sector is expected to grow at the highest CAGR of 7.8% due to a rising focus on improving healthcare and hospital infrastructure.
- APAC held a 36% share in the global Fiber Optic Beam Expander Market size, owing to investments in R&D activities on scientific research, petroleum exploration and growing demand for high-quality optical instruments.
Fiber Optic Beam Expander Market Value Share, by Region, 2021 (%)
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Fiber Optic Beam Expander Market Segment Analysis - by Device Type
Based on Device Type, the optical communication segment
in the Fiber Optic Beam Expander Market report is analyzed to grow at the highest
CAGR of 7.3% during the forecast period 2023-2028. This growth can be attributed to the growing demand for optical
communication devices such as modulators, circulators and transmitters across
various industrial and commercial sectors. These devices offer great advantages such as
high spatial resolution, minimization of energy loss and many others. In June 2021, Lightwave
Logic announced test results from new modulators fabricated, which
exceeded bandwidth design targets and achieved triple the data rate compared to
competing devices. These developments would boost the optical communication
segment and thereby increase the Fiber Optic Beam Expander Market size.
Fiber Optic
Beam Expander Market Segment Analysis - by End-use Industry
Based on End-use Industry, the medical sector in the Fiber Optic Beam
Expander Market report is analyzed to grow at the highest CAGR of 7.8% during
the forecast period 2023-2028. The rising focus on improving the healthcare and
hospital infrastructure, especially in emerging economies, is significantly boosting
the adoption of fiber optic beam expander systems in the medical industry. In December 2021, El.en.
S.p.A partnered with Clarion Medical Technologies to distribute DEKA surgical
CO2 laser systems to the Canadian Market which would help hospitals with ENT
procedures. These factors boost the adoption of Fiber Optic Beam Expanders in
the medical industry.
Fiber Optic Beam Expander Market Segment Analysis - by Geography
APAC dominated the global market for Fiber Optic Beam Expanders with a market share of 36% in 2021. The region is also analyzed to have significant growth over the forecasting period. This growth can be attributed to factors such as rising government initiatives toward R&D activities in various industries such as defense & security, scientific research & instrumentation, medical, mining, petroleum exploration and education sectors, as well as growing demand for high-quality optical instruments. In September 2022, Hamamatsu established an application lab for advanced laser material processing with ultrashort pulsed (USP) laser radiation in collaboration with the Fraunhofer Institute for Laser Technology ILT in Aachen. These developments would positively influence the Fiber Optic Beam Expander industry outlook in the APAC region.
Fiber Optic
Beam Expander Market Drivers
The growing popularity of smart lighting across industry verticals:
The Fiber Optic Beam Expander Market is expected to be driven by the emergence of integrated lighting solutions to denote various lighting intelligence control systems. Smart lighting products are being rapidly adopted by various industry sectors, including residential and commercial, in order to develop improved energy-efficient standards. In January 2020, WiZ Connected launched the new WiZmote, a WiFi remote to easily control WiZ Connected products. All WiZ Connected products include a Motion Sensor, which can activate lighting modes and provide Energy Optimization features such as power consumption monitoring. These factors thereby boost the adoption of beam expanders which in turn increase the Fiber Optic Beam Expander Market size.
The increasing prominence of Optical Sensors increases the adoption of beam expanders:
Recent advancements in Optical
Sensor technology have massively transformed the industry through a class of
devices. These devices are administered in various types of light-matter interactions to
monitor, contact-less detection, quantify molecules and generate analytical
signals for a variety of applications, which is expected to drive the Fiber Optic Beam Expander Market. In July 2020, Yokogawa Electric Corporation released
updated versions of its AQ2200 optical sensor modules. The AQ2200-212
single-channel optical sensor module offers improved measurement performance
and low uncertainty for a wide range of applications that require high
accuracy. As a result, the introduction of various optical-measuring
applications and non-imaging optics solutions is expected to propel the Fiber
Optic Beam Expander Market.
Fiber Optic
Beam Expander Market Challenge
Expensive manufacturing cost:
There are
different designs for Fiber Optic Beam Expanders. A Keplerian beam expander
has two converging lenses, separated by the sum of their focal lengths and a
Galilean beam expander consists of one diverging lens and one converging lens. The difference in designing methods and manufacturing processes of these beam expanders
result in higher costs. Thus, for various end-users, the adoption of these beam
expanders is becoming difficult which significantly hampers the market growth.
Fiber Optic Beam Expander Industry Outlook
Product launches, collaborations and R&D activities are key strategies adopted by players in the Fiber Optic Beam Expander Market. The top 10 companies in the Fiber Optic Beam Expander Market are:
- Diamond SA
- Thor Labs
- Qioptiq
- Edmund Optics
- Micro Laser Systems
- Lumetrics
- Sill Optics GmbH
- Optical Surfaces Ltd.
- NEUTRIK
- Coherent Corp
Recent Developments
- In December 2021, NEUTRIK introduced the FIBERFOX Series of Expanded Beam Technology Systems for Fiber Optic Connectivity.
- In September 2021, Coherent Corporation joined the SmartTunable Multi-Source agreement group for Wavelength-Tunable Transmitters. This is poised to increase the company’s share in the Fiber Optic Beam Expander Market.
- In July 2021, Optical Surfaces Ltd. announced the release of a new series of fiber optic Reflective Beam Expanders with an output clear aperture of 75mm and a variety of magnifications, designed for researchers who require high performance and ease of use.
Relevant Report Titles:
Report
Code: ITR 0360
Report
Code: ITR 0032
Report Code: ESR 79682
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