Optical Design Software Market to Surpass at a Revenue of US$ 1,474.02 Million By 2031 | Astute Analytica

CHICAGO, UNITED STATES, September 18, 2023/EINPresswire.com/ -- Global optical design software market value was US$ 862.90 million in 2022 and is projected to surpass the market valuation of US$ 1,474.02 million by 2031, growing at a CAGR of 6.13% during the forecast period from 2023 to 2031.

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The demand for optical systems across numerous industries is expected to increase over the coming ten years, driving the optical design software market. Due to the rapidly increasing demand for sophisticated optics in consumer electronics, particularly smartphones and augmented reality (AR) devices, this market has experienced strong growth over the past several years. When it comes to technology, 3DIC technology has the largest market share.

The enormous development in consumer electronics has been the main force behind the global industry. According to recent data, there will be 1.5 billion smartphones sold worldwide in 2021. Precision and accuracy in optical designs are now essential given that the average smartphone includes cameras with resolutions up to 108MP and numerous lenses for wide-angle, ultra-wide, macro, and zoom photography. For instance, Apple recently released the super-high-quality photo-taking iPhone 15 and iPhone 15 Pro. Thus, the market will grow as a result of this growth.

Wearable technology is pushing the limits of powerful yet tiny optics, such as augmented reality (AR) glasses, which will see a 35% increase in sales in 2022. Manufacturers heavily rely on optical design software to meet these sophisticated criteria, which is causing the demand to rise tremendously. Projectors, which increasingly use 4K and 8K images, are another example of how technology and optics may work together. The global projector industry will inevitably affect the optical design software market, which is expected to grow at a CAGR of 8.3% until 2025.

Recent changes in the industry are evidence of the rapidly changing market dynamics. One game-changer is the incorporation of artificial intelligence (AI) with optical design tools. Large datasets may be tapped into by AI-driven optical design software, allowing simulations to be run at previously unheard-of speeds in the worldwide optical design software market. The market saw a 20% increase in the number of software releases that included AI capabilities alone in 2022.

3DIC Technology Segment Accounted for 24% of Market Revenue Share

With a significant 24.5% market share in the overall optical design software market, the 3DIC segment establishes itself as a dominant force. Given the advantages of 3DICs inherently, this domination is scarcely surprising.

They are essential for industries, such as electronics, telecommunications, and aerospace as they provide compact design solutions, decreased energy usage, and improved performance. 3DICs stand out as the answer as industries steadfastly drive for miniaturization while simultaneously demanding more functionality. Due to this quality, 3DIC technology is positioned as a priceless asset in the optical design software market, and its significant market share is evidence of this.

Thin Film Coating Segment Generated Over 23% of Market Revenue Share

With a market share of around 24.8%, the thin film coating category leads the global optical design software market. The segment is further forecast to witness the highest CAGR of 6.8% during the forecast period. The rising need for better screens on electronic devices, more effective solar solutions, and premium optical lenses in a variety of industries is pushing the need for precise and optimal thin film coatings.

Small improvements to thin film coatings can have a big impact on performance as industries strive for perfection. This accuracy is made possible by the software, which also makes simulations easier and optimizes designs for practical use. In light of the rising global need for improved optics in telecommunications, renewable energy, and consumer electronics, it is not surprising that the thin film coating market is expanding at such a rapid rate.

North America Captured 37% of Market Revenue Share

In terms of market share, North America leads the global market. In terms of revenue, this region alone accounted for a sizeable 36.76% of the global optical design software market in 2022. The rapid expansion seen in the medical imaging industry, particularly in the US, is a significant driver of this dominant position. In the US, medical imaging has expanded more rapidly than any other service offered by doctors.

While medical imaging increased on average by 15% worldwide, it increased by over 25% in the US. This increase in the use of medical imaging is not a random occurrence. It is supported by a variety of factors, including innovative technical developments in imaging technologies, soaring physician and patient demand as a result of expanding health concerns, and lucrative financial incentives. Additionally, the ramifications for the market for optical design software are considerable since US healthcare spending is projected to reach about US$ 4.3 trillion in 2022, or approximately $12,266 per person, with a sizable portion of that spending going toward diagnostics and imaging.

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Top Players Hold a Cumulative Share of 26.09% of the Market Share

Significant competitors, including Airy Optics Inc., Alter Technology, Ansys, BeamXpert, 3D Optix, and others compete fiercely in the market. These players collectively hold a 26.09% market share. Key players like Ansys and others who contribute to market innovation and dynamism are identifiable in the competitive landscape.

Some of the Leading Companies Profiled in the Report Include

โ€ข 3D Optix
โ€ข AEH Inc.
โ€ข Airy Optics Inc.
โ€ข Alter Technology
โ€ข Ansys
โ€ข BeamXpert
โ€ข Comsol
โ€ข ELE optics
โ€ข Excelitas (Qioptiq)
โ€ข K2realm
โ€ข Lambda Research Corporation
โ€ข LTI Optics LLC
โ€ข Lumerical
โ€ข Photon Engineering LLC
โ€ข Synopsys
โ€ข Zemax
โ€ข Other Prominent Players

Segmentation Outline

The global optical design software market segmentation focuses on Solution, Technology, Application, Industry, and Region.

By Solution
โ€ข Software
o Cloud
o Offline
โ€ข Services
o Managed
o Professional
By Technology
โ€ข AI & Machine learning
โ€ข Application Security Testing
โ€ข 3DIC
โ€ข Design technology Co-optimization
โ€ข DevSecOps
โ€ข FinFet
โ€ข Hand-held multi-mode phones
By Application
โ€ข Imaging
โ€ข Thin Film Coating
โ€ข Non-linear optics
โ€ข Quantum dot
โ€ข Fourier Optics
โ€ข Gaussian Beam
By Industry
โ€ข Aerospace & Defense
โ€ข Automotive
โ€ข Medical
โ€ข Manufacturing
โ€ข Public Sector
By Region
โ€ข North America
o The U.S.
o Canada
o Mexico
โ€ข Europe
โ€ข Western Europe
๏‚ง The UK
๏‚ง Germany
๏‚ง France
๏‚ง Italy
๏‚ง Spain
o Rest of Western Europe
โ€ข Eastern Europe
๏‚ง Poland
๏‚ง Russia
o Rest of Eastern Europe
โ€ข Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o South Korea
o Rest of Asia Pacific
โ€ข Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
โ€ข South America
o Argentina
o Brazil
o Rest of South America

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