The latest market report published by Credence Research, Inc. “Optical Lens Edgers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global optical lens edgers market was valued at US$ 380.5 Mn in 2017 and expected to reach US$ 673.2 Mn by 2026, expanding at a CAGR of 6.7% from 2018 to 2026.
Browse the full report Optical lens Edgers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://bit.ly/2GPuXUm
The global optical lens edgers market is expected to undergo gradual growth during the forecast period from 2018 to 2026, mainly driven by their incumbent status in the eyeglasses and imaging industry. The incidence and prevalence of vision impairment is directly proportional to the use of visual media and the growing population. As the overall screen time of the general population is consistently increasing the incidence of visual deformations will also correspondingly grow, thereby augmenting the demand for corrective eyeglasses. Furthermore, a major portion of the vision impeded patient group belongs to the age group of 50 and above. Since vision impedance is directly correlated to aging, the global increase in the geriatric population shall also drive the market growth.
Another prime factor contributing to growing uptake of lens edgers is the booming cameras industry. The cameras industry worldwide is flourishing through the growing use of visual media and image sharing becoming a prime mode of communication. This has led to increased demand for camera and visualization lenses worldwide and hence supporting the market growth of optical lens edgers.
Based on the types, semi-automatic lens edgers are in high demand globally due to greater uptake from stand-alone eyeglass shops and competitive prices along with better efficiency than manual edgers. On the other hand, automatic devices shall be witnessing greater demand in the developed parts of the world. Eyeglass segment shall be the largest area where optical lens edgers shall be widely used; whereas camera lens segment shall be witnessing rapid growth rate. In terms of regional demarcation, North America and Europe shall be reporting sluggish growth with significant progress in terms of device installations is anticipated from Asia Pacific.
Key Market Movements:
- Growing senescent population and increasing incidence of vision related disorders in the global population
- High demand for semi-automatic devices due to offered precision at competitive prices
- Technical maturity leading to moderate market growth in terms of innovation. This is also leading to growing focus on offering simplicity in machines.
- Sustained demand due to booming cameras and smartphones industries
- Proliferation of local manufacturers in Asia Pacific and Latin America to pose as a prominent challenge to the multinational players based from North America and Europe