Pune, India, July 31, 2019 (GLOBE NEWSWIRE) -- The projected valuation of the market is expected to reach USD 616.8 billion by the end of the forecast period as was reported by Market Research Future (MRFR). Moreover, the market is positioned to register a CAGR of 13.8% in the coming years. The global spatial light modulator market is anticipated to grow during the forecast period of 2018 to 2023 at a relatively decent pace.
The global spatial light modulators (SLMs) are objects or devices that is used for modifying a light beam by modulating its variables like intensity, amplitude, and phase. Liquid crystal materials are most commonly used with SLMs in holograms and projectors.
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Two of the major types of special light modulators are transmissive and reflective. The reflective SLMs offer high resolutions and are comparatively expensive. Whereas, the transmissive SLMs are used primarily due to its cost-effective nature.
Drivers and Constraints of the Global Market
The growth of the spatial light modulator market can be directly attributed to the burgeoning demand for high bandwidth speeds, especially in the IT Sector, and the rapid paced proliferation of the market in the construction sector across regions like Latin America and Asia Pacific.
The expanding demand for high resolution displays in gaming devices, consumer electronics, and advertising is anticipated to open the door of opportunities for the market in the coming years.
However, amidst these positives, the lack of awareness concerning the advantages of spatial light modulator and high costs related to these devices can be some of the major challenges to the manufacturers that can hamper the overall growth of the market.
Market Segmentation:
The Spatial Light Modulator Market is segmented in terms of type and is divided into electrically addressed SLM, optically addressed SLM, and others. The electrically addressed SLM segment is anticipated to reach USD 302.5 million by the end of the forecast period. The increasing demand for high bandwidth speeds and data transmission over extensive distances are key factors slated to fuel the demand of the market over the forecast period. Elsewhere, the optically addressed SLM segment is projected to gain massive revenue by the end of 2023 to give close competition to the electrically addressed SLM segment.
In terms of application, the global spatial light modulator market is segmented into holography, optical, display, pulse shaping, laser beam, display, and others. An array of applications in holography like digital holography, display holography, holographic recording and security systems, and holographic memory are anticipated to stimulate massive demand for the segment over the forecast period. The application of holography across varying industries and verticals is expected to drive the growth of the segment.
The global spatial light modulator market segmentation in terms of industry comprises education & research, aerospace & defense, electronics, automotive and transportation, and others. The automotive and transportation segment is reported to grow over the forecast period at an annual pace of 14.6%. This is due to the increasing number of applications the market has in the automotive industry.
Regional Analysis:
The global spatial light modulator market is regionally segmented across the following geographical locations: North America, Europe, Asia Pacific, and the Rest of the World (RoW). The Asia Pacific region is positioned in the spatial light modulator market to garner the highest growth rate. The region is projected to register massive growth rate over the forecast period due to the proliferating education and automotive industries in Japan, China, and Japan. The region is further anticipated to enjoy significant growth due to the surging demand from industry stalwarts.
Competitive Landscape
The report has profiled a number of key players in the global spatial light modulator market. The market includes names such as Kopin Corporation (U.S.), Laser 2000 Ltd. (U.K), Hamamatsu Photonics K.K. (Japan), Jenoptik AG (Germany), Thorlabs, Inc. (U.S.), PerkinElmer Inc. (U.S.), Texas Instruments, Inc. (U.S.), Holoeye Photonics AG (Germany), Santec Corporation (Japan), Meadowlark Optics Inc. (U.S.), and others.
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Industry Related News
February 2019, Kopin Corporation, one of the leading developers in the world for innovative wearable computing technologies and solutions, made the announcement that its entirely owned subsidiary - Forth Dimension Displays Limited – is launching a high performance 2K x 2K reflective LCOS device.
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