April 21, 2024

Silicon (Si) Lenses Market Driven by Growing Adoption of Advanced Camera Modules

Silicon (Si) lenses are advanced optical components made of a single crystal of silicon that offer significant advantages over conventional lenses made of glass such as inherent stability, negligible thermal expansion, high refractive index, high transmittance in infrared and visible wavelengths and resistance to environmental factors. Si lenses find widespread applications in areas requiring high precision imaging such as microscopy, medical equipment, surveillance cameras, advanced driver-assistance systems (ADAS) and various industrial sensors and inspection systems. The growing adoption of advanced camera modules featuring auto-focus, optical zoom and wireless connectivity in smartphones, security cameras and automotive vehicles has generated significant demand for high performance Si lenses.

The global Silicon (Si) Lenses Market is estimated to be valued at US$ 215.2 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the growth of the silicon (Si) lenses market is the rising adoption of 3D sensing cameras in mobile devices. 3D sensing cameras utilize technologies like time-of-flight (TOF) imaging and structured light to capture 3D motion and build 3D maps of the environment. Manufacturers are integrating 3D sensing cameras with features like facial recognition, gesture control and augmented reality/virtual reality applications. Silicon lenses provide superior performance for 3D sensing applications compared to conventional lenses due to their high light transmission and aberration correction characteristics. Moreover, the use of silicon lenses allows for more compact 3D camera modules capable of fitting into thin smartphone designs. The silicon lenses market is also gaining momentum from increased use of silicon lenses in automotive cameras supporting advanced driver-assistance systems and autonomous driving. Silicon lenses can withstand wider temperature ranges compared to glass lenses, making them well-suited for automotive applications.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the silicon (Si) lenses market is moderate. Manufacturing Si lenses requires significant investments in R&D, production facilities and technology. Established brands have strong brand loyalty and economies of scale which make it difficult for new players to enter.
Bargaining power of buyers: The bargaining power of buyers in the Si lenses market is high. Buyers have multiple domestic and international suppliers to choose from. Buyers can negotiate on price and demand exclusivity.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Major raw material silicon is commoditized and available from multiple suppliers globally. Switching costs are low for suppliers.
Threat of new substitutes: The threat of substitutes is low. There are few substitutes for high performance Si lenses which can offer precision and wavelength specific properties. However, advanced optical materials are emerging as substitutes.
Competitive rivalry: The competition in the Si lenses market is high. Presence of numerous international and domestic players has intensified competition based on product performance, price and delivery. Players differentiate based on custom designs, coating and packaging.

Key Takeaways
The global silicon (Si) lenses market is expected to witness high growth at a CAGR of 7.5% during the forecast period of 2023 to 2030. Regional analysis

North America region dominated the silicon (Si) lenses market and is expected to continue its dominance during the forecast period. Presence of major players and high manufacturing capabilities are driving the market in the region. Key players analysis

Key players operating in the silicon (Si) lenses market are Edmund Optics, Thorlabs, ISP Optics Corporation, II-VI Incorporated, Precision Optical Inc., CVI Laser Optics, Newport Corporation, LightPath Technologies, Sydor Optics, Janos Technology LLC, Reynard Corporation, Shanghai Optics Inc., Knight Optical, Rocky Mountain Instrument Co., Shanghai Optics Technology Co., Ltd. These key players are focusing on new product launches, partnerships and expansions to gain market share.