Liquid Crystal Tunable Filters Market
Liquid Crystal Tunable Filters Market (Wavelength: Visible [VIS] - 400 to 700 nm, and Near-infrared [NIR] – 780 to 2500 nm; and Application: Agriculture, Medical, Military, Forensic, Chemical Spectroscopy, Semiconductor Process Control, and Others [Pharmaceuticals, Archaeology & Art, etc.]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
- Electronics & Semiconductors
- 149 Pages
The global liquid crystal tunable filters market is prophesized to witness substantial growth over the period of projection. Expansion of the market is mainly due to the rise in its demand and its wide use across several applications. These filters provide multiple advantages such as low cost, outstanding quality of image, controllability, and quick tenability. All these features make it suitable for use in several applications in the medical industry, thereby boosting the global liquid crystal tunable filters market in years to come.
The global liquid crystal tunable filters market is likely to register a double-digit growth rate of 11% CAGR over the projection period, from 2019 to 2027.
Some of the key players in the global liquid crystal tunable filters market comprise Perkinelmer Inc., ChemImage Corporation, Kent Optronics, Inc., Channel Systems, Inc., Semrock, Inc. and Meadowlark Optics, Inc.
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Extensive Use in Imaging Applications Pave Way for Rapid Growth of the Market
An astral rise in the demand for liquid crystal tunable filters is mainly due to the increased use various imaging applications and spectroscopy. Liquid crystal tunable filters find increased use in hyperspectral imaging systems for obtaining many spectral elements of scenes successively by adjusting the center wavelength of the said filter.
Exact transmission prototype of liquid crystal tunable filters is utilized increasingly for correct indication of the effects of band pass filtering on the spectra. This factor is expected to add to the growth of the global liquid crystal tunable filters market over the projection tenure, from 2019 to 2027. Besides, randomly coded apertures are placed behind these filters for controlling the shadowy images of the spatial domain.
The global liquid crystal tunable filters market is anticipated to be influenced by its ability to make the spatial and spectral resolution of existing spectral imager better. This can be achieved without even changing the structure of the detector and filter. It is possible to capture several images at a speed of 14 images per second with the help of this system. Such advantages are likely to work in favor of the expansion of the global liquid crystal tunable filters market in near future.
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North America to Market Dominance over the Projection period, from 2019 to 2027
In a bid to provide a deeper insight of the market, experts at TMR have split the global liquid crystal tunable filters market into five key territories. North America, Latin America, Asia Pacific, Middle East and Africa, and Europe are the major territories in the global liquid crystal tunable filters market.
In terms of both value and volume, North America is likely to play a dominant role in the global liquid crystal tunable filters market during the projection period. Increased uptake of near-IR imaging solutions and visible imaging solutions is estimated to offer copious growth opportunities for the global liquid crystal tunable filters market.
Extensive research and development activities pertaining to these filters are likely to make Asia Pacific a promising region for the market stakeholders in the years to come. It is estimated that Asia Pacific region will observe rapid growth over the next few years to come.
Analysts’ Take on the Prospects of the Liquid Crystal Tunable Filters Market
Authors of the study are sanguine about the future of the liquid crystal tunable filters market through to 2027. North America, followed by Europe, is likely to remain a lucrative region, with a majority of sales driven by semiconductor process control and chemical spectroscopy industries. Countries such as the U.S., China, and the U.K. will witness high demand for liquid crystal tunable filters, on the back of their intense research and development activities.
Investments directed towards the development of new technologies will surface novel end-use applications of liquid crystal tunable filters, thereby boding lucrative future growth. With machine vision and imaging being key applications, manufacturers can entail efforts in the direction of enhancing their product efficiency to position them in distinguished light and increase their marketability. Industry 2.0, engendering the trend of miniaturization, will account for significant sales of liquid crystal tunable filters in the future. The only hurdle that market pacers need to overcome remains in the form of high research and development cost.
Liquid Crystal Tunable Filters: Definition/Overview
- Tunable optical filters come in multiple complexities, shapes, and sizes, each addressing the unique requirements of different applications in terms of bandwidth, tuning speed, and spectral tuning range.
- Several technologies are used for the designing of tunable optical filters, such as solid state varactor diodes, micro-electromechanical systems (MEMS), ferroelectric material, and liquid crystals.
- Liquid crystal tunable filters (LCTFs) are extensively used in hyper-spectral imaging systems to successively acquire different spectral components of scenes by adjusting the center wavelength of the filter. However, the spectral and spatial resolutions of the imager are limited by the bandwidth of LCTF, and the pitch dimension of the detector, respectively.
- Liquid crystal tunable filters (LCTFs) use electrically-controlled liquid crystal elements to select a specific visible wavelength of light for transmission through the filter with the exclusion of all others.
- These types of filters are ideal for use with electronic imaging devices such as charge-coupled devices (CCDs), as they offer excellent imaging quality with a simple linear optical pathway.
Global Liquid Crystal Tunable Filters Market: Regional Overview
- North America led the global liquid crystal tunable filters market, followed by Asia Pacific and Europe, in 2018. Asia Pacific is estimated to be a rapidly expanding market for liquid crystal tunable filters during the forecast period.
- Asia Pacific and Europe are emerging markets for liquid crystal tunable filters, offering immense opportunities for market players on a long-term basis.
Global Liquid Crystal Tunable Filters Market: Trends
- Liquid crystal tunable filter technology is currently in the development stage. There are some uncertainties regarding its use for the mass production of any power device. Currently, this technology is mostly being used in the manufacturing of hyper-spectral imaging systems.
- Spectral imaging systems based on liquid crystal tunable filters (LCTFs) are widely used in remote sensing, biomedicine, and food applications, due to their portability, quick tunability, convenient controllability, good image quality, and low cost.
Global Liquid Crystal Tunable Filters Market: Drivers, Opportunities, and Restraints
- Liquid crystal tunable filters with lyot-type configuration offer several advantages such as high switching speed, low operation voltage, and large birefringence, which enable a wide tuning range from visible to near-infrared.
- Due to these benefits, liquid crystal tunable filters are widely used in tunable filter-based hyper-spectral imaging configurations. This further drives the global liquid crystal tunable filters market.
- Also, liquid crystal tunable filters with a wide tuning range are suitable for multi-mode applications, especially from the viewpoint of saving chip areas. Thus, the rising demand for filters with a wide tuning range directly fuels the global liquid crystal tunable filters market.
- One of the anticipated challenges for the global liquid crystal tunable filters market lies in bringing miniaturized tunable filters from drawing boards to actual foundries led by their complexity. Furthermore, this technology needs all-new step-up systems fitted with new infrastructure and numerous other components, which take a long time to develop. Thus, high research and development cost and initial expenses may hamper the global liquid crystal tunable filters market.
- Furthermore, the growing adoption of miniaturization can create ample opportunities to enhance the designing and development of electrically-tunable band pass filters based on the liquid crystal (LC) technology. This is likely to directly promote the growth of the global liquid crystal tunable filters market in the near future.
Global Liquid Crystal Tunable Filters Market: Key Segments
The global liquid crystal tunable filters market has been segmented based on wavelength, application, and region.
- In terms of wavelength, the liquid crystal tunable filters market has been classified into visible (VIS) – 400 to 700 nm and near-infrared (NIR) – 780 to 2500 nm. The visible segment dominated the global market in 2018, owing to high adoption in applications ranging from machine vision to hyper-spectral applications.
- In terms of application, the global liquid crystal tunable filters market has been divided into agriculture, medical, military, forensic, chemical spectroscopy, semiconductor process control, and others. With increasing technological advancements, the use of LCFTs is growing in chemical spectroscopy and semiconductor process control.
- In terms of region, the global liquid crystal tunable filters market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Global Liquid Crystal Tunable Filters Market: Competition Landscape
Attracted by the anticipated growth of the global liquid crystal tunable filters market and underlying latent demand, several players are expanding their businesses through strategic mergers and acquisitions, as well as partnerships. Some of the prominent players operating in the global liquid crystal tunable filters market are
- Channel Systems, Inc.
- Perkinelmer Inc.
- Thorlabs, Inc.
- Santec Corporation
- Kent Optronics, Inc.
- Semrock, Inc.
- Meadowlark Optics, Inc.
- ChemImage Corporation
Liquid Crystal Tunable Filters Market – Introduction
Transparency Market Research (TMR), in its latest report, unfolds the growth prospects of the liquid crystal tunable filters market for the forecast period of 2019-2027. The business asset assesses the key drivers that dictate the growth of the liquid crystal tunable filters market, and offers information regarding its untapped potential.
The comprehensive report uncovers key insights into the drivers, challenges, opportunities, threats, and trends shaping the future of the liquid crystal tunable filters market. Evolving preferences and regulatory impacts are also covered in this study. The liquid crystal tunable filters market has been assessed by considering both, microeconomic as well as macroeconomic factors. Readers can find crucial information regarding the notable developments and key trends observed in the landscape, in order to build sustainable growth strategies. The liquid crystal tunable filters market has been evaluated on the basis of value (US$ Mn) and volume (Mn units).
In order to offer an incisive perception of the liquid crystal tunable filters market, the report provides comprehensive information regarding the competition prevailing in the liquid crystal tunable filters landscape. The liquid crystal tunable filters study offers a market share analysis for each company, along with details regarding financials, SWOT analysis, key strategies, and recent developments.
Liquid Crystal Tunable Filters Market – Key Questions Answered
TMR’s report offers valuable insights into the liquid crystal tunable filters market on the basis of comprehensive research on new opportunities and strategic developments. The study aims to offer a deep understanding regarding the current as well as the future growth prospects of the liquid crystal tunable filters market. Some of the key questions answered in the liquid crystal tunable filters market report include:
- What are the key factors driving the growth of the liquid crystal tunable filters market?
- Which are the key trends affecting the liquid crystal tunable filters market?
- Which region is anticipated to remain lucrative for the liquid crystal tunable filters market?
- What are the competitive strategies of the key players operating in the liquid crystal tunable filters market?
- What are the market shares of the key players offering liquid crystal tunable filters?
- Which application segment will grow at a high rate during the forecast period?
Liquid Crystal Tunable Filters Market – Report Methodology
In order to come to reliable values and insights, our analysts take the top-bottom and bottom-top approaches. Market profiling, formulation of discussion guides, developing a list of respondents, data collection, data validation, and data analysis are some of the key aspects forming the report methodology.
Our analysts conduct both, primary as well as secondary research, to collate valuable insights of the liquid crystal tunable filters market. Secondary research helps in finding out the overall market size, industry associations, top industry players, etc. In order to conduct secondary research, company profiles, website, financials, press releases, white papers, and publications are studied.
In order to carry out primary research, interviews were conducted with key opinion leaders, industry experts, and major players of the industry. The data obtained is then validated by the triangulation method to find the qualitative as well as quantitative insights about the liquid crystal tunable filters industry.
Liquid Crystal Tunable Filters Market – Segmentation
The liquid crystal tunable filters market has been bifurcated on the basis of wavelength, application, and region. With the help of detailed segmentation, readers understand the adoption of liquid crystal tunable filters in different countries, which will supplement the growth of the liquid crystal tunable filters market. By analyzing the application of liquid crystal tunable filters, the report aims to offer valuable insights regarding the demand trends for liquid crystal tunable filters from end-use industries.