Global Wafer Level Optics Market is projected to reach US$ 4,454.3 Million by 2027|CAGR: 47.0%: Astute Analytica

NEW DELHI, April 26, 2022 /PRNewswire/ -- According to the study undertaken by Astute Analytica the global wafer level optics market was valued at US$ 440.7 Million in 2021 and is forecasted to reach US$ 4,454.3 Million by 2027. The market is expected to register 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.

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Global Wafer Level Optics market is driven by the supply chain collaborations and increasing demand for ever smaller micro-optics. Wafer level optics are optical products manufactured using semiconductor process on wafers. Wafer level optics manufacturing solutions enable wafer level production of next generation optical sensors and novel optical sensing devices for mobile consumer electronics products such as 3D sensing, biometric authentication, environmental sensing, infrared sensing and Microlens arrays.

The development of advanced optical materials requires extensive characterization of chemical, mechanical and optical properties as well as proven scalability for high-volume manufacturing (HVM). Presently, Himax's wafer level optics is the key for future photonic technology. It will help to enable the next generation sensing device, AIoT and machine vision.

Moreover, the growing demand for compact technical products and the miniaturization trend are two developments that are exerting a major influence on the production of micro-optical components. Also, micro-optics is an indispensable key enabling technology for many products and applications today. Highly efficient refractive and diffractive micro-optical elements are used for precise beam and pupil shaping. Furthermore, 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. Thus, the global wafer level optics market is anticipated to be driven by the supply chain collaborations and increasing demand for ever smaller micro-optics with wafer level optics. Moreover, the era of increased video meetings could boost organizational use of biometric security technology. However, the US-China trade war is imposing several challenges to the growth of the wafer level optics market.

Market Segmentation

Micro-Lens Array holds the highest market share in 2021 in the Global Wafer Level Optics Market

Based on type, the wafer level optics market is segmented into micro lens array, Shack-Hartmann lens array, uniform compound eye lens and laser collimator.  The micro lens array segment contributed the major share in the global wafer level optics market in 2021 as these are arrays of tiny, sub-millimeter lenses used in various optical applications. It also finds considerable application in the consumer electronics segment, seeking market demand during the forecast period. Also, micro lens array is projected to exhibit the highest CAGR of 49.2% during the forecast period.

Laser Medical segment is expected to register at the highest CAGR during the forecast period

Based on application, the wafer level optics market is classified into consumer electronics, optical fiber communication camera, laser medical and industrial laser shaping. The consumer electronics segment contributed the major share in the global wafer level optics 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 segmental growth. Moreover, laser medical segment is expected to project the highest CAGR of 51.4% in the global 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.

China held the major share in terms of revenue, in the Global Wafer Level Optics Market in 2021

Based on geography, China dominated the global wafer level optics market in 2021 owing to the presence of leading market players, such as Himax Technologies and several other local market players. In Asia Pacific, India is expected to project the highest CAGR of 58.2% during the forecast period owing to the growing initiatives by market players in the region.

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Company Profile

• China Wafer Level CSP Co., Ltd. is a holding company that create, develop and manufacture innovative semiconductor, interconnect and imaging technologies. The company also provides co-design and qualification services for new products. The Company's products are applied in various areas such as consumer electronics, including mobile phones, computers, cameras and game consoles; security monitoring; identification; automotive electronics; virtual reality; smart cards and medical electronics. China Wafer Level CSP seeks to expand the use of its product and technology offerings in the tablet, laptop wearable, automotive and smartphone markets.
• AMS AG develops and manufactures analog semiconductors, sensors, sensor interfaces, power management and wireless solutions. The Company provides its products and services to customers in the communications, industrial, medical technology and automotive markets. It operates its business across several technologies, namely 3D sensing, audio sensing, capacitive sensing, CMOS imaging, spectral sensing and micro lens array among others. AMS AG focusses on becoming the uncontested leader in optical solutions through bold investments in disruptive innovation and continuous transformation delivering best in class profitability and growth. It develops products that are smarter, safer, convenient and more environment-friendly.
• Himax Technologies, Inc. is a semiconductor solution provider dedicated to display imaging processing technologies. Himax is one of the worldwide market leaders in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, automotive, digital cameras, car navigation, virtual reality (VR) devices and many other consumer electronics devices. The Company also offers CMOS image sensors, wafer level optics for AR devices, 3D sensing and ultralow power smart sensing. Himax's wafer level optics is the key for future photonic technology. It will help to enable the next generation sensing device, AIoT and machine vision. In terms of business revenue segmentation, driver IC holds the highest market share.
• EV Group (EVG) is one of the leading suppliers of high-volume production equipment and process solutions for the manufacture of semiconductors, MEMS, compound semiconductors, power devices and nanotechnology devices. EVG's key products include wafer bonding, thin-wafer processing and lithography/nanoimprint lithography (NIL) equipment, photoresist coaters as well as cleaning and inspection/metrology systems. EV Group focusses on introduction of innovative solutions in the wafer level optics market.

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:
• Micro-Lens Array
• Shack-Hartmann Lens Array
• Uniform Compound Eye Lens
• Laser Collimator
• By Application Segment of the Global Wafer Level Optics Market is Sub- Segmented into:
• Consumer Electronics
• Optical Fiber Communication Camera
• Laser Medical
• Industrial Laser Shaping
• By Region of the Global Wafer Level Optics Market is Sub- Segmented into:
• North America
• Europe
• APAC
• Rest of the World

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About Astute Analytica 

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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