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The Fiber Optic Beam Expander Market size is
expected to reach US$1.9 billion by 2027, growing at a CAGR of 6.78% from 2022
to 2027. Rapid
technological advancements in high-end microscopy systems, non-imaging optics
solutions for superior display measurement in spectrometers, colorimeters and
LED lighting systems are expected to drive the Fiber Optic Beam Expander
industry forward. In December 2020, Ultra Beam Lighting launched a string of
new lighting products which would further increase the Fiber Optic Beam Expander
market size. However, expensive manufacturing costs are hampering the market
growth.
Moreover, Fiber Optic Beam Expanders are intended for
use in a variety of applications including LiDAR, spectroscopy, industrial
radiography and light and display measurement. Furthermore, they provide
greater advantages, such as high spatial resolution, reduced energy loss and
other benefits in both industrial and commercial sectors. In May 2021,
TechOptics announced an agreement with EXFO, aimed to expand their fiber optic
tools and increase the Fiber Optic Beam Expander market size.
North
America generated approximately 29% of the global revenues in the Fiber Optic
Beam Expander industry in 2021. This growth can be attributed to increasing demand for high-quality
optical instruments and R&D activities in various industries such as the medical sector, petroleum exploration and scientific research. In 2020,
according to Ocular Surgery news, there was a 42% increase in the number of
laser vision correction procedures in the Pacific Vision Institute, San Francisco,
U.S. as compared to 2019.
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Fiber Optic Beam Expander Market Growth Driver:
Growing investments in Fiber Optics:
Increased Internet
penetration, data traffic and growing demand for higher bandwidth boost the
Fiber Optics Market. As investments are increasing in the fiber optics market, it
is expected to increase demand for fiber components such as fiber optic beam
expanders. In 2020, according to New Street Research, North American broadband
providers are expected to invest more than US$60 billion in fiber-to-the-home
(FTTH) projects over the next five years, more than doubling the amount
invested in FTTH buildouts during any previous five-year period. Large FTTH
players such as AT&T and Verizon are looking into new fiber optics
opportunities where they can deploy FTTH despite previous heavy investments. They may even look to expand FTTH beyond their traditional market borders in the
future. Additionally, AT&T has already announced that approximately two
million new homes would be built by 2021. All of these investments are likely to
increase demand for Fiber Optic Beam Expanders during the forecast period.
The
Major Players in this Market
Major players in
Fiber Optic Beam Expander Market include Diamond SA, Thor Labs, Qioptiq,
Edmund Optics, Micro Laser Systems and Lumetrics. In July 2022, Optical
Surfaces Ltd. developed a new compact Fiber Optic Beam Expander that
uniquely delivers high magnification (x30) from small aperture (2 mm) high-power laser beam lines.