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Advanced Optics Market to Worth USD 477.42 Billion by (2021-2028) | Advanced Optics Industry CAGR of 9.62%

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Pune, India, April 20, 2022 (GLOBE NEWSWIRE) — The global advanced optics market size was USD 242.45 billion in 2020. The market is expected to grow from USD 250.93 billion in 2021 to USD 477.42 billion by 2028, exhibiting a CAGR of 9.62% during the forecast period. The rising awareness regarding the lenses’ benefits and the incorporation of artificial intelligence technology is expected to boost market development. Fortune Business Insightspresents this information in its report titled “Advanced Optics Market, 2021-2028.

Advanced optics are made using several optical components such as optical material, prism, optical lenses, and optical mirrors. It provides high efficiency, low power consumption, excellent flexibility, high bandwidth, low weight, and secure communication. The rising awareness regarding the product’s benefits is expected to boost market development. Further, increasing applications from drone components, ophthalmology and retinal imaging, spacecraft system, security, and surveillance system, security, and surveillance system, lighting solutions, metrology devices, imaging system, medical equipment, windows, displays, electro-optical/infrared (EO/IR) system, lithography system, gyroscope, and high-resolution microscopy are expected to boost market development.

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List of Key Players Profiled in the Report:

  • Signify N.V. (Netherlands)
  • Shin-Etsu Chemical Co. Ltd (Japan)
  • Nikon Corporation (Japan)
  • Cisco Systems Inc. (U.S.)
  • Corning Inc. (U.S.)
  • Hoya Corporation (Japan)
  • Schott AG (Germany)
  • II-VI Inc. (U.S.)
  • GlobalFoundries Inc. (U.S.)
  • AGC Inc. (Japan)
  • Hamamatsu Photonics K.K. (Japan)
  • Gooch & Housego PLC (U.K.)
  • Excelitas Technologies Corp. (U.S.)
  • Imagine Optic SA (France)
  • Iris AO, Inc (U.S.)
  • Boston Micromachines Corporation (U.S.)
  • Flexible Optical B.V. (Netherlands)
  • Active Optical Systems, LLC (U.S.)
  • Northrop Grumman Corporation (U.S.)

COVID-19 Impact:

Supply Chain Disruptions to Hinder Industry Growth

This market is expected to be negatively affected during the COVID-19 pandemic because of the disruptions in the supply chain. The sudden spike in cases led to the imposition of lockdown, thereby affecting the market development. Further, the halt on transport leads to the lack of raw materials required to produce the lenses. However, the adoption of technologically advanced production, sanitization, and social distancing may enable manufacturers to recover losses and satisfy consumers.

Segments

By technology, the market is segmented into quantum, wave, and ray. Based on application, it is classified into 3D scanner, metrology devices, camera, medical equipment, intelligence, surveillance & reconnaissance (ISR), optical communication, lighting solution, LiDAR, and others. As per end-use industry, it is categorized into space, automotive, aviation (drone), medical, defense, industrial, commercial, and others. Geographically, it is grouped into North America, Europe, Asia Pacific, and the rest of the world.

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https://www.fortunebusinessinsights.com/advanced-optics-market-106605

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

Drivers and Restraints
Robust Demand for Photonics Powered Equipment and Rising R&D Investments to Fuel Market Development
The rising demand for photonics-powered equipment is expected to boost advanced optics adoption. The rising adoption of advanced optics in several defense applications is expected to bolster market development. Higher efficiency of photonics, precision, long lifespan, and faster operation is expected to foster market development. Furthermore, rising research and development activities and investments are likely to foster industry growth. Moreover, the presence of a well-developed industrial sector may propel optic adoption. In addition, rising defense budgets may drive the advanced optics market growth.

However, optimization of space solutions and complex design may hinder market development.

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Regional Insights

Presence of Several OEMs to Bolster Industry Progress in Asia Pacific

Asia Pacific is expected to dominate the advanced optics market share due to the presence of several OEMs. The market in Asia Pacific stood at USD 96.98 billion in 2020 and is expected to gain a huge market share during the upcoming years. In addition, rising investments in the development of telecommunication services and smart city solutions are expected to boost market progress.

In North America, the rising adoption of technologically advanced optics in industrial, commercial, aviation, and defense sectors is expected to bolster product demand. Additionally, several key players and rising spending expenditures are expected to bolster market development.

In Europe, increasing adoption of optics in the manufacturing, automotive, healthcare, and semiconductor industries is expected to fuel adoption. This factor may propel market progress in the region.

Competitive Landscape

Companies Engage in Strategic Collaborations to Boost Brand Image

The prominent companies operating in the market engage in strategic collaborations to boost their brand image. For example, Nikon Corporation entered into a strategic collaboration with Aeva in August 2021. The companies shall develop Frequency Modulated Continuous Wave (FMCW) 4D LiDAR powered with unique micron-level measurement capability to offer excellent industrial automation precision. Further, the adoption of research and development may enable companies to develop better quality products and enhance their annual revenues.

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
    • Latest technological Advancements
    • Porters Five Forces Analysis
    • Supply Chain Analysis
  • Quantitative Insights-Impact of COVID-19 Pandemic on Global Advanced Optics Market
    • Impact of COVID-19 Pandemic on Global Advanced Optics Market
    • Steps Taken by Industry/Companies/Government to Overcome the Impact
    • Key Development in the industry in Response to COVID-19 Pandemic
    • Potential Opportunities due to COVID-19 Outbreak

TOC Continued…!

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Key Industry Development

  • February 2021- Nikon Corporation launched a new ECLIPSE Si upright microscope, having features such as intelligent time-saving, an automatic shut-off mode, and an ergonomic design to reduce physical strain that can result from prolonged microscope use.

Have a Look at Related Research Insights:

Electro-Optical/Infrared (EO/IR) Systems Market Size, Share and Industry Analysis, By Systems (Imaging System and Non-Imaging System), By Technology (Cooled and Uncooled), By Sensor Technology (Staring Sensor and Scanning Sensor), By Imaging Technology (Multispectral and Hyperspectral), By wavelength (Ultraviolet, Near Infrared, Short Wavelength Infrared), By Platform (Airborne, Land, and Marine/Naval), By End User, and Regional Forecast 2019-2026

Fiber Optics Market Size, Share & Industry Analysis, By Component (Hardware, Software, Services), By Application (Telecommunication, Smart Cities, Power Utilities, Aerospace and Defense, Industrial Automation and Control, Renewable Energy, Others), and Regional Forecast, 2020-2027

Defense Adaptive Optics Market Size, Share & Industry Analysis, By Type (Natural guide star adaptive optics (NGAO), Laser guide star adaptive optics (LGAO), Multi-conjugate (MCAO)), By Component (Wavefront Sensor, Wavefront Modulator, Control System), By End-User (Consumer, Astronomy, Military & Defense) And Regional Forecast 2022-2029

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Netcompany secures high-profile digital transformation contract with HM Revenue & Customs (HMRC)

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Netcompany wins one of four new build contracts for HMRC. The European IT services company will focus on modernising core digital customer services for HMRC’s Customer Services Group. The contract term is three years with options for two, one-year extensions. The estimated contract spend is £120–£135m over the course of the 5-year term. 
LONDON, May 13, 2024 /PRNewswire/ — Netcompany has won a significant new build contract for His Majesty’s Revenue and Customs (HMRC). It will provide digital transformation services to HMRC’s Customer Services Group (CSG), including the Customer Compliance Group (CCG). Netcompany was selected following a competitive procurement process. 

“We are proud and honoured to be selected to bring our expertise and knowledge to bear in helping enable HMRC’s digitalisation journey,” says André Rogaczewski, CEO, Netcompany. “Improving citizen experience through responsible digitalisation of public services is a core part of our DNA. Through this partnership, Netcompany looks forward to working with HMRC to help realise their digital transformation aspirations, resulting in both better customer services and value to the taxpayer.” 
The contract Netcompany has been awarded to deliver aims to simplify access and management of citizens’ tax affairs, through one personalised digital account. The contract was won through the first phase of competitions run under Crown Commercial Service’s (CCS) Digital and Legacy Application Services (DALAS) framework, Lot 2a – Large Scale Digital, Integration and Development Services.
About Netcompany
Founded in Denmark in 2000, Netcompany is a fast-growing, multinational company, working across 10 countries, with a team of more than 7,700 skilled professionals, who drive sustainable digitisation, consistently improving outcomes for our customers and citizens. Netcompany provides mission-critical IT solutions for societal and business needs, aiding our clients in their digital evolution towards a more efficient and sustainable future. Netcompany UK has extensive experience of working across the public sector, including NHS England, Ministry of Defence, Home Office, HMRC, Department for Education, Department for Environment, Food & Rural Affairs, as well as extensive private sector experience.
About Crown Commercial Service
Crown Commercial Service (CCS) is an Executive Agency of the Cabinet Office, supporting the public sector to achieve maximum commercial value when procuring common goods and services.
To find out more about CCS, visit: www.crowncommercial.gov.ukFollow us on Twitter: @gov_procurementLinkedIn: www.linkedin.com/company/2827044 
Logo: https://mma.prnewswire.com/media/2410706/Netcompany_Logo.jpg

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Bulletin from the extraordinary general meeting in SciBase Holding AB (publ)

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STOCKHOLM, May 13, 2024 /PRNewswire/ — Today, an extraordinary general meeting has been held in SciBase Holding AB (publ) (“SciBase” or the “Company”). The general meeting resolved in accordance with the proposals presented in the notice to attend the meeting (which is available on the Company’s website (www.scibase.com)).

Amendment of the articles of association
The general meeting resolved, in accordance with the board of directors’ three proposals, to amend §§ 4-5 of the articles of association, entailing:
that the articles of association shall be amended so that the share capital shall be not less than SEK 10,065,000 and not more than SEK 40,260,000 and that the number of shares shall be not less than 201,300,000 and not more than 805,200,000,that the articles of association shall be amended so that the share capital shall be not less than SEK 10,780,000 and not more than SEK 43,120,000 and that the number of shares shall be not less than 215,600,000 and not more than 862,400,000, andthat the articles of association shall be amended so that the share capital shall be not less than SEK 11,500,000 and not more than SEK 46,000,000 and that the number of shares shall be not less than 230,000,000 and not more than 920,000,000.The general meeting further resolved, in a accordance with the board of directors’ proposal,  to authorize the board of directors to register with the Swedish Companies Registration Office the above resolution to amend the Articles of Association, the limits of which for the minimum and maximum number of shares in the Company are consistent with the total number of shares in the Company after the rights issue announced on 5 April 2024 and the directed issues of units that the board of directors resolved upon on 5 April 2024 (that were conditional upon the subsequent approval of the general meeting).
Directed issues
The general meeting resolved, in accordance with the board of directors’ proposal, to approve the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 74,136,510 units to Ribbskottet AB, Per Olof Ejendal AB, Kåre Gilstring, Robert Molander, MLJK Konsult AB, Klintemar Konsult AB, Jesper Hoiland, Fredrik Mattsson, Stefan Hansson, Theodor Invest AB, Ulti AB, Van Herk Investments B.V., Morningside Group AB, Viktor Drvota and Eric Terhaerdt. The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. Warrants of series TO 2 are issued free of charge. The issue results in an increase in the number of shares in the Company of a maximum of 74,136,510 shares, entailing a maximum increase of the share capital of SEK 3,706,825.50, and a new issue of a maximum of 370,682,550 warrants of series TO 2 entitling to subscription of 370,682,550 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 18,534,127.50 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 22,240,953.00.
The general meeting further resolved in accordance with the board of directors’ proposal to approve the resolution made by the board of directors on 5 April 2024, on a new issue of a maximum of 3,755,259 units to Matt Leavitt. The subscription price for each unit is SEK 0.42, corresponding to a subscription price of SEK 0.42 per share. Warrants of series TO 2 are issued free of charge. The issue results in an increase in the number of shares in the Company of a maximum of 3 755 259 shares, entailing a maximum increase of the share capital of SEK 187,762.95, and a new issue of a maximum of 18,776,295 warrants of series TO 2 entitling to subscription of 18,776,295 shares in the Company, whereby the share capital may increase by an additional maximum of SEK 938,814.75 if all issued warrants of series TO 2 are exercised. In total, the share capital may increase by a maximum of SEK 1,126,577.70.
For additional information, please contact:Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected] Advisor (CA):Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
About SciBase:
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The Company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/scibase/r/bulletin-from-the-extraordinary-general-meeting-in-scibase-holding-ab–publ-,c3977529
The following files are available for download:
https://mb.cision.com/Main/12371/3977529/2790414.pdf
SciBase Bulletin EGM
 

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Experience Abu Dhabi Weixin Mini-Program: Your Gateway to Unforgettable Moments in Abu Dhabi

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ABU DHABI, UAE, May 13, 2024 /PRNewswire/ — Prepare for a memorable journey with the new Experience Abu Dhabi Weixin mini-program, brought to you by Experience Abu Dhabi, in partnership with Tencent Cloud.

Weixin is commonly known as ‘WeChat’ outside of China serves over a billion of monthly active users in the Chinese mainland. Tailored for Chinese visitors, the Weixin mini-program is packed with compelling features that range from interactive maps to itinerary planners – everything they would need to plan their Abu Dhabi experience at their fingertips.
The program not only provides Chinese visitors with first-hand official travel information but also specifically addresses their digital travel needs, offering map guidance and Chinese audio commentary services during the travel process.
The program also introduces ‘Khalifa’, a welcoming Emirati character who serves as Abu Dhabi’s first digital ambassador for culture and tourism. Khalifa isn’t just a tour guide, he’s your virtual companion, ready to engage in conversation and answer all visitor questions about Abu Dhabi!
Whether you’re looking for thrilling attractions, world-class restaurants or inspiring activities, Khalifa will provide personalised recommendations and insider tips to enhance your experience.
About Tencent Cloud
Tencent Cloud, one of the world’s leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation.
About the Department of Culture and Tourism – Abu Dhabi:
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.
By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture and tourism industries.
DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.
For more information about the Department of Culture and Tourism – Abu Dhabi and the destination, please visit: dct.gov.ae and visitabudhabi.ae 

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