The growing number of applications for adaptive optics technology is a driving factor for the growth of this market. The prices of components used in adaptive optics are reducing dramatically owing to the advancements in material technology and the development of other materials and electrically sensitive polymer. The reduced cost of components would lead to increased adoption of adaptive optics across different end-use sectors. Smaller and cheaper sensors would facilitate entry and growth of adaptive optics technology in the non-governmental astronomy and consumer devices market.
Adaptive Optics Market
Geographically, the demand for adaptive optics market in the Americas was the highest in 2014, owing to factors such as involvement of the regional government and key players in the development of this technology. The Americas market accounted for 44.0% of the overall adaptive optics market in 2014. In the Americas, the U.S. accounted for the largest share of 77.7% of the adaptive optics market in 2014. In 2014, the European market accounted for 31.8% of the market share and is expected to grow at CAGR of 92.8% between 2015 and 2020.
Download PDF Brochure Today!
The APAC market is expected to grow at the highest CAGR of 120.9% between 2015 and 2020. The Americas is expected to lead the adaptive optics market during the forecast period. However, the APAC market for adaptive optics is expected to gain a substantial share in the near future owing to its emerging economy and favorable government policies to carry out research and development activities for adaptive optics. The military & defense sector was the largest contributor to the overall adaptive optics market, accounting for 56.1% share in 2014. The biomedical sector accounted for 21.7% of the market share in 2014. The adaptive optics market is expected to witness growth during the forecast year owing to the advancement in biomedical applications, consumer sector, and communication sector which would drive the adaptive optics market in the coming years.
