Wafer Level Optics Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

The Global Wafer Level Optics Market is estimated to witness a major jump in revenue from US$ 440.7 Million in 2021 to US$ 4,454.3 Million by 2027. The market is registering a CAGR of 47.0% over the projection period 2022-2027. In terms of volume, the market is registering a CAGR of 46.6% during the forecast period. Wafer level optics are optical products manufactured using a semiconductor process on wafers. Presently, Himax's wafer level optics is the key for future photonic technology. It will help to enable the next generation sensing device, AIoT, and machine vision. These optical glass wafers are used to make micro-optic components for sensing applications, including refractive and diffractive optical elements and light guides among others. 

Market Dynamics

Rising demand for ever-smaller micro-optics with wafer level optics and supply chain collaborations driving adoption of wafer-level optics is expected to boost the market for wafer level optics. The growing demand for compact technical products and the miniaturization trend are two developments that are exerting a major influence on the production of micro-optical components. Moreover, close collaboration between material suppliers and process equipment manufacturers is a key to enabling the development and refinement of processes needed to ensure high reliability and manufacturability of wafer level optics for high-quality products. However, the trade dispute between the US and China continues to drag on. The trade issue has already had a significant impact on US electronics imports. Thus, the US-China trade war is imposing several challenges to the growth of the wafer level optics market.

Report Summary

The study of the Global Wafer Level Optics Market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the wafer level optics industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the Global Wafer Level Optics Market across 17 Chapters and 139 pages. The report includes data presentation across 35 tables and 52 statistical figures. 

The report also provides Wafer Level Optics (WLO) manufacturing cost analysis, wherein the key raw material for WLO includes glass, polysilicon, and other semiconductor components. The report also shows key raw materials price trends, as glass prices can vary significantly depending on the type of glass employed, by the supplier, and region of the world. Moreover, it also includes key suppliers of raw materials and the proportion of manufacturing cost structure. In wafer manufacturing cost analysis, there are for major components i.e., raw material, machinery and facilities, labor, and others.

The subsequent section provides details of the market analysis based on different segments such as type, application, and region. The report includes a detailed study of the value chain of the industry. It includes raw material suppliers, wafer level optics manufacturers, distributors/market intermediaries, and end-users. The report also covers extensively the key competitors in the market for wafer level optics. 

Wafer Level Optics (WLO) Manufacturing Cost Analysis

• Manufacturing Process Analysis of Wafer Level Optics (WLO)-

The manufacturing process of the Wafer Level Optics consists of mainly 5 steps:

1. Design & Simulation
2. Lithography & Imprinting
3. Wafer Bonding
4. Signalization
5. Sensor Assembly

Impact of COVID-19 on Global Wafer Level Optics Market

The spread of the novel coronavirus, i.e., COVID-19 has severely squeezed the global wafer level optics market. Amidst the pandemic, the end-users of wafer level optics have observed several challenges such as a decline in the demand for consumer electronics and others. Moreover, the market players encountered disruption in the supply chain of the wafer level optics, backed by the lockdown in several countries and governmental norms in the movement of goods across regions. 

However, post the COVID-19 pandemic, the wafer level optics market is expected to foresee a considerable growth of 43.1% in 2022. This regains of market value can be backed by the continuous rise in the adoption rate of wafer level optics in the electronics industry and industrial sector.

Key Takeaways from the Global Wafer Level Optics Market Report

• Based on type, the microlens array segment is estimated to have the highest market share and is also expected to exhibit the fastest CAGR of 49.2% during the forecast period. Also, the microlens array finds considerable application in the consumer electronics segment. Furthermore, microlens arrays find applications in several areas of modern optics and optical products such as CCD arrays, 3D imaging & displays, optical microscopes, LiDAR systems, and optical sensors among others, which in turn is escalating the segmental growth globally.
• In terms of application, the laser medical segment is expected to project the fastest CAGR of 51.4% in the global wafer level optics market during the forecast period. The continuously high penetration rate of laser surgery across the medical fields including ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others, is leading to the rapid growth of wafer level optics in the laser medical industry in the near future.
• Based on geography, China held the major share in terms of revenue, in the global wafer level optics market in 2021 owing to the presence of leading market players, such as Himax Technologies and several other local market players in the Asia Pacific is one of the prime factors for the high market share. Whereas, India is expected to witness the fastest growth rate over the forecast period owing to the growing initiatives by market players in the region.

Competitive Insight

The key players in the Global Wafer Level Optics Market are AMS AG, Himax Technologies, Inc., EV Group, Corning, China Wafer Level CSP Co., Ltd., and AAC Technologies among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on the emerging markets. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Segmentation Overview 

Global Wafer Level Optics Market is segmented based on type, application, and region. The industry trends in the global wafer level optics market are sub-divided into different categories in order to get a holistic view of the global marketplace. 

Following are the different segments of the Global Wafer Level Optics Market:

By Type Segment of the Global Wafer Level Optics Market is Sub- Segmented into:

• Micro-Lens Array
• Shack-Hartmann Lens Array
• Uniform Compound Eye Lens
• Laser Collimator

By Application Segment of the Global Wafer Level Optics Market is Sub- Segmented into:

• Consumer Electronics
• Optical Fiber Communication Camera
• Laser Medical
• Industrial Laser Shaping

By Region Type Segment of the Global Wafer Level Optics Market is Sub- Segmented into:

• North America
• Europe
• APAC
• Rest of the World