The new report by Expert Market Research titled, ‘Global Liquid Crystal Tunable Filters Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global liquid crystal tunable filters market, assessing the market based on its segments like application, wavelength, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 45 Million
• Forecast CAGR (2021-2026): 6.0%
The growing use of tunable filters in the medical and commercial industries is assisting the growth of the liquid crystal tunable filters sector. In the future years, market growth is expected to be aided by expanding R&D operations and strategic alliances. A liquid crystal tunable filter has a diverse range of applications like military, medical, chemical spectroscopy among others. Because of their great image quality and rapid adjustment over a broad spectral range, LCTFs are frequently utilized in multispectral imaging or hyperspectral imaging systems. They primarily aid in the reduction of specular reflections in order to increase the imaging algorithm’s performance, which is boosting its application in machine vision systems.
Industry Definition and Major Segments
A liquid crystal tunable filter is an optical filter that uses electronically controlled liquid crystal (LC) elements to transmit a specific wavelength of light while blocking out other wavelengths. The Lyot filter, which uses birefringence to produce a narrow passband of transmitted wavelengths, provides the basis for the basic working principle.
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On the basis of application, the market is segmented into:
• Chemical Spectroscopy
• Semiconductor Process Control
Based on wavelength, the market is divided into:
• Visible (VIS) – 400 to 700 nm
• Near-infrared (NIR) – 780 to 2500 nm
The major regional markets include:
• North America
• Latin America
• Middle East and Africa
The demand for liquid crystal tunable filters in digital image processing technologies is growing as the focus on image quality in imaging applications grows. The market for liquid crystal tunable filters is expected to grow due to factors such as the selection of acousto-optic tunable channels (AOTFs) for various restorative and business applications, as well as the execution of liquid crystal tunable filters for highly demanding machine vision applications. By employing professional research resources, manufacturers are attempting to build liquid crystal tunable filters that will aid in the advancement of automated systems. North America dominates the global market for liquid crystal tunable filters, with a large proportion. Furthermore, significant expenditures in R&D efforts aimed at developing new filter technology are projected to benefit the industry over the projection period. Increasing investments for military forces all over the world are putting superior communication devices and well-organized communication in place. Tunable filters are planned to be utilised in major military communications and surveillance platforms.
Key Market Players
The major players in the market are Channel Systems, Inc., Perkinelmer Inc., Thorlabs, Inc., Santec Corporation, Kent Optronics, Inc., Semrock, Inc., ChemImage, Meadowlark Optics, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.