In an era where a majority of innovations are directed towards enhancing machine ingenuity, evolution is being passed from a small nut to industrial equipment. Multimodal applications of machine visions, ranging from robotic guidance, process control, to automated inspection, continuously require an eye for precision. The convergence of spectral imaging systems and the biomedicine industry will further unlock lucrative avenues for liquid crystal tunable filters, given the increasing resonance of biomedicine manufacturers with their portability, fast tunability, and convenient controllability.
Evolution spawned in the landscape with continuous R&D activities underpins the advancement of disparate applications in multimodal industries, which is likely to act as a harbinger to a lucrative future. Transparency Market Research (TMR), in its latest study, brings to the fore, key trends and insights into the advancing liquid crystal tunable filters landscape, to aid stakeholders contrive future roadmaps for their businesses.
Evolution of the Liquid Crystal Tunable Filters Market
Technological innovation serves as a growth instrumental to numerous industries, including medical, military, and semiconductor process control, to prepare for their futuristic leap. Considering the trend, manufacturers initiated their quest for tunable filters with large aperture and high imaging quality, which gained liquid crystal tunable filters the desired traction over their traditional equivalent – acousto-optic tunable filters. In 2018, 3,722 units of liquid crystal tunable filters were sold, which corresponded to a value of US$ 41.5 Mn.
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In recent times, as the demand for wide tuning range filters become pervasive, low operational voltage, and large birefringence capabilities of liquid crystal tunable filters make them suitable for optimizing chip areas and developing smart-sized devices. As wireless technology nears the stage of ubiquity, the demand for IoT devices and scarce frequency spectrum will further stimulate the need for liquid crystal tunable filters with high switching speed, to facilitate effective communication. Transparency Market Research (TMR) anticipates that, the liquid crystal tunable filters market will grow at a CAGR of ~ 11% during the foreseeable timeframe.
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Key Trends Tuning Liquid Crystal Tunable Filters Market Growth
A colossal surge in the demand for liquid crystal tunable filters can be attributed to their large deployment in spectroscopy and imaging applications. According to the numbers, the semiconductor process control segment, among the end-use industries, accounts for a majority of the total market share, i.e. 25%. However, the adoption of liquid crystal tunable filters have been growing at a significant pace in chemical spectroscopy.