Dublin, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Optical Design Software Market, By Solution; By Technology; By Application; By Industry - Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The Optical Design Software market is set to expand significantly over the next decade, fueled by the increasing demand for optical systems across various industries. With a strong footing at USD 862.90 million in 2022, the market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.45%, reaching an estimated value of USD 1,388.37 million by 2030.
Growth Influencers
- Rising Demand for High-Quality Modeling and Analysis: The rapid growth of the Optical Design Software market is driven by the increasing demand for high-quality modeling and analysis of optical systems. As optical systems find applications in various industries, the criticality of software designed to develop and analyze these systems has become essential for precision and efficiency.
- Diverse Industry Applications: Optical design software has applications in industries such as aerospace & defense, automotive, medical, and manufacturing. The versatility of its applications across these sectors contributes to the market's expansion.
Segments Overview
- Solution: The software segment dominated the market with a market share of 72.4% in 2022 and is projected to grow at the highest CAGR of 6.63%. The cloud and offline subsegments fall under the software category. Services, including managed and professional services, also contribute to the market's growth.
- Technology: The 3DIC technology holds the market lead with the highest share of 24.5% in 2022. Other technologies like AI & Machine learning, Application Security Testing, and Design technology Co optimization are also significant contributors.
- Application: Quantum dot application is poised to generate significant revenue of over USD 100 million by 2026. Imaging, Thin Film coating, Non-linear optics, and other applications like Fourier Optics and Gaussian Beam contribute to the market's growth.
- Industry: The aerospace & defense, automotive, medical, and manufacturing sectors are prominently deploying optical design software, contributing to market growth.
Regional Overview
- North America: Leading with a market share of 36.6% in 2022, North America is driven by technological advancements and wide industrial applications.
- Asia Pacific: With a swift CAGR of 7.14%, the Asia Pacific region is underpinned by substantial investments in technology and increasing adoption across industries.
Competitive Landscape
- 3D optix
- AEH inc.
- Airy Optics Inc.
- Alter Technology
- Ansys
- BeamXpert
- Comsol
- ELE optics
- Excelitas (Qioptiq)
- K2realm
- Lambda Research Corporation
- LTI optics LLC
- Lumerical
- Photon Engineering LLC
- Synopsys
- Zemax
Conclusion
The Optical Design Software market's growth is fueled by the rising demand for optical systems across diverse industries. With increasing applications and the criticality of high-quality modeling and analysis, the market is set to expand, especially in regions like North America and the Asia Pacific. The competitive landscape is marked by key players like Ansys and others who are contributing to market innovation and dynamism
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 225 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $862.9 Million |
| Forecasted Market Value (USD) by 2030 | $1388.37 Million |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/r5zlfu
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