Aspherical Lens Market by Type (Glass Aspherical lens, Plastic Aspherical lens), Offering (Double Aspherical lens and Single Aspherical lens), Manufacturing Technology (Molding, Polishing & Grinding), Application and Region - Global Forecast to 2028
[213 Pages Report] According to MarketsandMarkets, the aspherical lens market is projected to grow from USD 9.0 billion in 2023 to USD 12.2 billion by 2028, registering a CAGR of 6.2% during the forecast period. Surging use of aspherical lenses in optical instruments and ophthalmic applications, increasing adoption in automotive sector, growing use of infrared aspherical lenses in security and surveillance cameras, and rising demand for medical imaging are expected to propel the aspherical lens market in the next five years. However, high production cost of aspherical lenses and complexity of design and manufacturing processes are likely to pose challenges for the industry players.
The objective of the report is to define, describe, and forecast the aspherical lens industry based on type, manufacturing technology, offering, application, and region.
Aspherical Lens Market Forecast to 2028
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Aspherical lens market dynamics
Driver: Surging use of aspherical lenses in optical instruments and ophthalmic applications
Aspheric lenses are widely used in such optical instruments because aspheres minimize spherical aberrations in lenses, and result in clearer images. Aspheres also help to thin down and flatten the lens, which lessens peripheral magnification and enhances appearance. Aspherical lenses allow optical engineers to increase the numeric aperture size of a lens without reducing image quality, which is perfect for applications that require high light throughput. All these factors are expected to contribute to the growth of the aspherical lens market during the projected period. The rising demand for high-quality lenses for use in telescopes, binoculars, and other optical devices, as well as the need for more portable and lightweight equipment is driving market growth.
Aspherical lenses in eyeglasses can offer a broader field of view than conventional spherical lenses, less distortion, and a flatter appearance. With contact lenses, an aspherical design can lessen aberrations and improve visual clarity, especially in low light conditions. Aspherical surfaces can be added to intraocular lenses (IOLs) used in cataract surgery to enhance the visual outcomes for patients, including increased contrast sensitivity and decreased reflection. For instance, in 2022, CooperVision announced an addition to its Biofinity Energys® product portfolio: MyDay Energys® daily disposable contact lenses with an innovative single vision aspherical lens design.
The increasing prevalence of eye disorders such as cataract, presbyopia, and myopia, growing demand for advanced vision correction solutions, and technological advancements in lens manufacturing processes are driving the growth of the aspherical lens market.
Restraint: High production cost of aspherical lenses
Aspherical lense, do not have a singular radius of curvature. As a result, various areas on the surface employ smaller sub-apertures with different curvature radii. Because only one huge tool may be utilized, different manufacturing techniques must be used to address these sub-apertures in different ways. Hence, aspherical lenses require a more complex manufacturing process than traditional spherical lenses. This can result in higher production costs due to the need for advanced manufacturing technologies, equipment, and skilled labor. Such lenses also require the use of advanced materials, such as high-quality glass or specialized plastics, to achieve the necessary precision and performance. These materials can be expensive and further increase the cost of the lenses. Thus, the high cost of aspherical lenses can limit their adoption in some applications, particularly in price-sensitive markets, such as consumer electronics, where cost is a critical factor
Opportunities: Growing use of infrared aspherical lenses in security and surveillance cameras
An IR aspherical lens can transmit more infrared light than a conventional lens, allowing for sharper image capture even in complete darkness. This is particularly useful in security and surveillance applications where it is critical to record distinct photos of trespassers or suspicious activity. In the event of a break-in or crime, the lenses function as sensors that trigger alarms, discouraging criminals. These lenses aid in prompt suspect identification without alerting the subject to the camera's current location. Security systems employ far-infrared ray lenses to view through dust, severe rain, and fog. They also have a magnifying feature, which enhances focus on the subject being seen by the lens.
There has been a recent surge in the demand for security cameras in order to maintain 24x7 surveillance and avoid illegal activities. The number of security camera installations in the US increased by 80% between 2015 and 2021, from 47 million to 85 million, according to the US Bureau of Labor Statistics. Thus, the increasing demand for security and video surveillance cameras will create an opportunity for IR aspherical lens-based cameras in the future.
Challenges: Complexity of design and manufacturing processes
Aspherical lenses can also be more difficult to manufacture in larger sizes. This is because the larger the lens, the more complex the surface curvature becomes, making it more difficult to maintain precision during the manufacturing process. These limitations in terms of design and manufacturing techniques of aspherical lenses are creating challenges for market players.
Consumer Electronics to acquire significant share in aspherical lens market and is the second largest application
The consumer electronics is expected to hold the largest market share during the forecast period. Aspherical lenses are designed to correct for spherical aberration, which is a type of optical distortion that can cause images to appear blurry or distorted. By using aspherical lenses, smartphone manufacturers can improve the image quality and reduce distortion in the photos taken with their cameras. Aspherical lenses are also able to reduce the size and weight of the camera module, making it easier to integrate into the compact designs of modern smartphones. For example, to produce sharp photos, Zeiss created smartphones that require complicated, high-resolution lens elements that must be compressed into a very compact space; double-aspherical lens elements have been produced to address this demand. Many tablet and PC cameras also use aspherical lenses in their design. The growing need for higher image quality from smartphone cameras is driving the industry's demand for aspherical lenses. Furthermore, Major high-end smartphone market players are looking to upgrade their camera lenses, resulting in the rising use of aspherical lenses.
Single aspherical lens offering to command largest share in aspherical lens market
The single aspherical lens segment accounted for the largest market share in 2022. A single aspherical lens has two surfaces, one of which is spherical or flat while the other is not. Camera lenses, spectacles, and other optical systems that need the correction of aberrations frequently employ single aspherical lenses. A single aspherical lens has a simple design and fewer lens elements, making it less complex and less expensive to manufacture. The increasing demand for such lenses and rising research and development activities are driving market growth.
Chine aspherical lens market to witness highest demand from Asia Pacific
China held the largest share of the aspherical lens market in Asia Pacific in 2022 and is projected to dominate both markets during the forecast period. China is witnessing rapid economic development. It has been increasingly focusing on shifting from a manufacturing-driven to an innovation-driven economy. The country has the world’s largest surveillance network and accounts for over half of all surveillance cameras deployed worldwide. According to National Development and Reform Commission data, all key public areas in China are expected to be protected with video surveillance cameras with facial recognition technology to reduce crime and ensure social stability. This increased demand for security cameras will drive the growth of the aspherical lens market.
China is considered the world’s largest market for electric vehicles. The growing investment by OEMs in semi-autonomous vehicles also increases the demand for automotive cameras and thus drives market growth. The country is also a leading manufacturing hub for consumer electronics products. According to Mobile Economy China 2021 published by GSM Association, the total number of smartphone connections in the country is estimated to reach ~1.5 billion in 2025. The use of aspherical lenses in smartphone cameras will eventually drive the aspherical lens market. Samsung, Xiaomi, and OnePlus are among the companies using aspherical lens elements in their camera module.
Aspherical Lens Market by Region
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Key Market Players
Major vendors in the aspherical lens companies include Nikon Corporation (Japan), Canon, Inc. (Japan), Panasonic Holding Corporation (Japan), HOYA (Japan), Asahi Glass (AGC) (Japan), Schott (Germany), ZEISS International (Germany), Tokai Optical (Japan), SEIKO Optical Products Co., Ltd. (Japan), and Calin Technology Co., Ltd. (Taiwan), among others.
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Report Metric |
Details |
Market Size Available for Years |
2019–2028 |
Base Year |
2022 |
Forecast Period |
2023–2028 |
Units |
Value (USD Million/USD Billion) |
Segments Covered |
Type, Manufacturing Technology, Offering, Application, and Region |
Regions Covered |
North America, Europe, Asia Pacific, and RoW |
Companies Covered |
Nikon Corporation (Japan), Canon, Inc. (Japan), Panasonic Holding Corporation (Japan), HOYA Corporation (Japan), Asahi Glass (AGC) (Japan), Schott (Germany), ZEISS International (Germany), Tokai Optical (Japan), SEIKO Optical Products Co., Ltd. (Japan), and Calin Technology Co., Ltd. (Taiwan), among others. |
Aspherical Lens Market Highlights
This report categorizes the aspherical lens market based on type, offering, manufacturing technology, application, and region.
Segment |
Subsegment |
By Type |
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By Offering |
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By Manufacturing Technology |
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By Application |
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By Region |
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Recent Developments
- In February 2023, Nikon Corporation announced the highly anticipated NIKKOR Z 85mm f/1.2 S, a professional-level ultra-fast prime lens that exemplifies the powerful potential of the Nikon Z Mount for stills or video footage.
- In January 2023, Panasonic introduced a new cost-effective ultra-wide-angle zoom lens, the LUMIX S 14-28mm F4-5.6 MACRO, based on the L-Mount system. The LUMIX S Series offers three budget-friendly lenses including the LUMIX S 14-28mm F4-5.6 MACRO (S-R1428), LUMIX S 20-60mm F3.5-5.6 (S-R2060) and LUMIX S 70-300mm F4.5-5.6 MACRO O.I.S. (S-R70300) to cover 14mm ultra wide-angle to 300mm telephoto.
- In January 2023, AGC Inc. reached an agreement with Shanghai Yaohua Pilkington Glass Group Co. Ltd. (SYP Group) to transfer its ownership stake in applied glass material company AGC Flat Glass (Dalian) Inc. Per the agreement, SYP Group takes over the company for a purchase price of ¥5.8 billion (approximately USD 43.8 million).
- In September 2022, Nikon Corporation announced the renewal of the brand’s partnership with NYC Salt, an organization that creates opportunities in visual arts and pathways to college and careers for underserved New York City youth with diverse backgrounds.
Frequently Asked Questions (FAQ):
Which are the major companies in the aspherical lens market? What are their primary strategies to strengthen their market presence?
Nikon Corporation (Japan), Canon, Inc. (Japan), Panasonic Holding Corporation (Japan), HOYA corporation (Japan), ZEISS International (Germany) are the leading players in the market. These companies have adopted organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to gain a competitive advantage in the market.
Which is the potential market for the aspherical lens in terms of application?
Ophthalmic application is a potential market with high growth opportunities. The increasing research & development by aspherical lens manufacturers is also driving market growth. EssilorLuxottica, and JML Optiical are the prominent manufacturers of ophthalmic aspherical lenses.
What are the opportunities for new market entrants?
Factors such as growing use of infrared aspherical lenses in security and surveillance cameras and rising demand for medical imaging are creating opportunities for the players in the market.
Which type is expected to drive market growth in the next six years?
Glass aspherical lens is expected to remain the major offering driving aspherical lens demand.
What are the major strategies adopted by market players?
The agitator companies have adopted product launches, acquisitions, and contracts to strengthen their position in the industrial agitators market.
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The research process for this study included systematic gathering, recording, and analysis of data about customers and companies operating in the aspherical lens market. This process involved the extensive use of secondary sources, directories, and databases (Factiva, Oanda, and OneSource) for identifying and collecting valuable information for the comprehensive, technical, market-oriented, and commercial study of the aspherical lens market. In-depth interviews were conducted with primary respondents, including experts from core and related industries and preferred manufacturers, to obtain and verify critical qualitative and quantitative information as well as to assess growth prospects. Key players in the aspherical lens market were identified through secondary research, and their market rankings were determined through primary and secondary research. This research included studying annual reports of top players and interviewing key industry experts such as CEOs, directors, and marketing executives.
Secondary Research
In the secondary research process, various secondary sources were referred to for identifying and collecting information important for this study. Secondary sources included corporate filings, such as annual reports, investor presentations, and financial statements; trade, business, and professional associations; white papers, aspherical lens products related journals, and certified publications; articles by recognized authors; directories; and databases.
Secondary research was conducted to obtain key information about the industry supply chain, market value chain, key players, market classification and segmentation as per industry trends to the bottom-most level, geographic markets, and key developments from both market- and technology-oriented perspectives. Data from secondary research was collected and analyzed to determine the overall market size, which was further validated by primary research.
Primary Research
In the primary research process, various primary sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology & innovation directors, and key executives from major companies in the aspherical lens market.
After going through market engineering (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers obtained. Primary research was conducted to identify segmentation types, industry trends, key players, competitive landscape, and key market dynamics such as drivers, restraints, opportunities, and challenges, along with the key strategies adopted by players operating in the market.
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Market size Estimation
In the complete market engineering process, both top-down and bottom-up approaches were used, along with several data triangulation methods, to estimate and forecast the size of the market and its segments and subsegments listed in the report. Extensive qualitative and quantitative analyses were carried out on the complete market engineering process to list the key information/insights pertaining to the aspherical lens market.
The key players in the market were identified through secondary research, and their rankings in the respective regions were determined through primary and secondary research. This entire procedure involved the study of the annual and financial reports of top players, as well as interviews with industry experts such as chief executive officers, vice presidents, directors, and marketing executives for quantitative and qualitative key insights. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Aspherical Lens Market: Bottom-up Approach
Data triangulation
After arriving at the overall size of the aspherical lens market from the market size estimation process explained above, the total market was split into several segments and subsegments. Where applicable, the market breakdown and data triangulation procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using top-down and bottom-up approaches.
Aspherical lenses have non-spherical shapes and a more complicated front surface, including ellipses, parabolas, hyperbolas, quadrics, and torics. They are designed to reduce or eliminate spherical aberration, which is an optical distortion that occurs when a spherical lens is used to focus light. Spherical aberration results in a blurred image and loss of image quality. Aspherical lenses offer greater aberration correction than conventional spherical optics with multiple surfaces, allowing optical designers to correct aberrations using fewer elements. Although the elements of an aspherical lens are more complicated than those of a spherical lens, it is typically harder to fabricate using traditional fabrication methods like molding, and grinding & polishing. Aspherical lenses are commonly used in high-end camera lenses, as well as in consumer electronics and other optical devices such as telescopes, microscopes, and binoculars. They are also used in eyeglasses to correct certain types of vision problems.
Key Stakeholders for Aspherical Lens Market
- Digital camera companies
- Aspherical lens providers
- Aspherical lens vendors
- Automobile companies
- Architecture and engineering firms
- Third-party aspherical lens system integrators
- Research organizations and consulting companies
- Associations, organizations, forums, and alliances related to aspherical lenses
Report Objectives
- To describe and forecast the aspherical lens market, in terms of value, based on type, manufacturing technology, offering, and application
- To describe and forecast the aspherical lens market size, in terms of value, with respect to four regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To provide detailed information about the drivers, restraints, opportunities, and challenges influencing the growth of the aspherical lens market
- To provide a detailed overview of the supply chain of the aspherical lens ecosystem
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
- To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of business strategy excellence and strength of product portfolios
- To strategically profile the key players and comprehensively analyze their market positions in terms of ranking and core competencies2, along with a detailed competitive landscape of the market
- To analyze competitive developments in the aspherical lens market, such as acquisitions, product launches, partnerships, expansions, and collaborations
Available customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies.
Product analysis
- Detailed analysis and profiling of additional market players
The following customization options are available for the report:
- Market sizing and forecast for additional countries
- Additional five companies profiling
Growth opportunities and latent adjacency in Aspherical Lens Market