According to the latest report published by Fact.MR, a market research and competitive intelligence provider, the global optical lens cutter and edger market is projected to reach a valuation of US$ 973.2 million by the end of 2032 while expanding at a high CAGR of 9.2%.
The high precision of automatic ophthalmic equipment will push the growth of product manufacturers over the coming years. The automatic product range provides dry cutting technology and does not require several products such as cutters and edgers for finishing. It utilizes AI and ML technologies with which it auto-calibrates the frame size and provides a top-notch finish without any human intervention.
Hybrid optical lens cutter and edger technology is poised to promise noteworthy growth of 9.3% over the decade due to the dynamic shift from the demand side. Moreover, integration of automation provides various technical advantages such as high-precision control and improved versatility of products over other sustainable cutters and lens edgers. The offering of such advanced machinery is set to drive market expansion over the coming years.
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Key Segments of Optical Lens Cutter and Edger Industry Survey
- Optical Lens Cutter and Edger Market by Product Type:
- Optical Lens Cutters
- Optical Lens Edgers
- Optical Lens Cutter and Edger Market by Automation:
- Automatic Optical Lens Cutters and Edgers
- Semi-automatic Optical Lens Cutters and Edgers
- Manual Optical Lens Cutters and Edgers
- Optical Lens Cutter and Edger Market by Operation:
- Optical Lens Cutters and Edgers With Water
- Optical Lens Cutters and Edgers Without Water
- Optical Lens Cutter and Edger Market by Power Type:
- Up to 70 W Optical Lens Cutters and Edgers
- 70-100 W Optical Lens Cutters and Edgers
- 100-200 W Optical Lens Cutters and Edgers
- Above 200 W Optical Lens Cutters and Edgers
- Optical Lens Cutter and Edger Market by Sales Channel:
- Online Sales
- Company-owned Websites
- e-Commerce Websites
- Offline Sales
- Electronic Stores
- Online Sales
- Optical Lens Cutter and Edger Market by Region
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Takeaways from Market Study
- Global optical lens cutter and edger market poised to expand at CAGR of 9.2% to reach US$ 973.2 million 2032.
- On the basis of product type, hybrid products are projected to capture 90.2% market share by the end of 2032.
- By automation type, semi-automatic lens cutters and edgers are likely to account for 20% revenue share and create an absolute $ opportunity of US$ 122.5 million over the assessment period.
- The above 200 W power type segment is projected to grow 2.4X by value, while the 100-200 W segment is set to grow 2.3X by 2032.
- The European market is expected to register a CAGR of 9.1% over the forecast period to be valued at US$ 302.1 million by 2032.
- Under sales channel, offline sales currently account for approximately 70% market share, but are expected to lose 138 BPS by 2032 over 2022.
Integration of brand-owned retail channels has provided extensive growth prospects to market players. The B2C distribution channel is likely to aid organizations in connecting straight to customers without any confusion or dilution of information. This strategy will provide abundant opportunities over the decade and strengthen overall revenue generating capacity.
Also, market participants are developing constructive collaborations with end users in order to maintain consistency in demand and create stability in revenue generation.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global optical lens cutter & edger market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market based on product type (optical lens cutters, optical lens edgers, hybrid), automation (automatic, semiautomatic, manual), operation (with water, without water), power type (up to 70 W, 70-100 W, 100-200 W, above 200 W), and sales channel (online sales channels (company/ brand websites, e-Commerce websites), offline sales channels (electronics stores, franchised, independent, others)), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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