High Precision Asphere Market Set to Witness Adamant Growth by 2025
The various technological advancements in the automotive industry pertaining to automated driving systems have led to higher road safety and making the driving experience more comfortable. The governments of several countries are focusing on reducing the casualties caused due to road accidents, traffic congestion, and air pollution. Therefore, they are focusing on shifting their interest in the deployment of vehicles equipped with autonomous features. As a result of the collective initiative, several industry players have started testing and commercializing ADAS and automated systems in their vehicles. Since, automotive cameras have a very important role in the automation of vehicles, the market for the aspherical lens is expected to showcase increased demand and extensive technological development.
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Moreover, governments of various countries are stepping in to support industries and companies that are developing safety systems for automobiles. Several government agencies and authorities within the industry are laying out various rules and regulations to enhance the use of advanced vision sensors in the vehicles to ensure safety, efficiency, and accuracy in passenger cars. This has specifically laid the foundation for the usage of aspherical lenses in the automotive application. Apart from the cameras, the lenses are also being used in the headlights of the cars.
The need for automotive cameras in vehicles is encouraging players and component manufacturers, such as Continental AG, Robert Bosch Gmbh, Mobileye N.V., and Magna International, to work actively in order to integrate passenger cars equipped with advanced automated driving systems with their latest camera offerings. These players are focusing on the deployment of safe and advanced technology in their vehicles. The aspherical lens manufacturers are therefore entering into various partnerships, mergers and acquisitions, among others, with camera manufacturers to have high growth in the coming years.
Glass aspheric lenses are mostly used in application segments such as telescopes, microscopes, and precision optical instruments. Glass aspherical lenses have a higher range of refractive index and thus, have higher applicability areas. Aspheric glass lenses are widely used in the optical wearables industry for the development of products such as spectacles. Molding of glass lenses is generally more complicated and more difficult as compared to plastic lenses. Moreover, the durability of glass lenses is less at the edges due to the design of lenses. However, the glass aspherical lenses provide better focus point and larger focal length range. Glass lenses provide enhanced casing abilities as their edges can be modified in order to produce more friction, thereby ensuring better metal-glass casing. Moreover, with increasing technological advancements, glass molding within a metal or plastic case is also available. Glass-based aspherical lenses have higher coupling efficiency, which provides it an edge over plastic-based aspherical lenses.
The high precision asphere market in North America is evolving considerably. It is extremely competitive with some of the major players within the industry operating in this region, driving widespread adoption of advanced technologies. In order to achieve ultimate goals, the region is striding forward to be a pivotal part of this revolution. Owing to the intense competition among the automotive players, efforts are being made by the federal bodies to increase road safety standards. Thus, the growth of aspherical lenses in the autonomous vehicle market in the region is expected to propel, and an increase in the manufacturing activities in the U.S. and Canada is also being anticipated to boost the production of inhouse aspherical lenses in the region. These factors are expected to encourage the sales of the components that make up these driving systems, including automotive cameras, which would impact the market of aspheric lenses positively.
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Moreover, the local players of the U.S. and Canada are also entering into mergers, acquisitions, collaborations, and partnerships, fueling the aspheric lens market in the region. Furthermore, with the introduction and subsequent rise in sales of dashboard cameras for surveillance purposes, the aspherical lens in the automotive cameras is expected to become a must-have product on passenger vehicles.