New York, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The global spatial light modulator market size is expected to expand at ~16% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 20 billion by the end of 2035, up from a revenue of ~USD 7 billion in the year 2022.The major factor influencing the growth of the market is the growing adoption of automobiles. Nearly 65 million vehicles were sold worldwide in 2021, whereas about 66 million vehicles were sold globally in 2022. Hence, the demand for spatial light modulators.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4981
The long-term objective of the automaker is to produce the next generation of headlights for cars that may be programmed, perform several tasks, respond to the driving environment, and improve driver safety. According to the World Health Organization, a road traffic accident results in the premature death of about 1.3 million persons each year. Hence, with the help of these intelligent headlights made of the spatial light modulator, the road can be better illuminated, barriers, signs, and lanes are highlighted, directions will be projected onto the road, glare can be decreased, and visibility will be improved in hazardous rain and snowstorms.
Growth in the Number of People Playing Video Games to Boost the Growth of Global Spatial Light Modulator Market
The popularity of games is growing all across the world. There are about 3.09 billion gamers currently playing in the world. Hence, this is projected to influence the market expansion. The demand for a particular game depends upon its presentation and quality. Hence, the demand for the spatial light modulator is growing since gamers are in demand for more lifelike visual experiences. The spatial light modulator is considered to be the most important component to offer enhanced resolutions and image quality. Therefore, with the growth in the number of people playing games the market revenue is also rising.
Spatial Light Modulator Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growth in Education Sector to Influence the Market Growth in Asia Pacific
The spatial light modulator market in Asia Pacific is set to garner the highest revenue by the end of 2035. The major factor for the growth of the market in this region could be growth in educational system which is adopting digital technology. This growth in digitalization in educational system could be further owing to the availability of high-speed internet. South Korea possessed the fastest average mobile internet download speed in the Asia-Pacific region as of November 2022, at about 117 Mbps. Hence, the market for spatial light modulator is set to grow in this region.
Make an Inquiry Before Buying this Report @ https://www.researchnester.com/inquiries-before-buying-4981
Surge in Number of People Working from Home to Drive the Market Expansion in North America
The spatial light modulator market in North America is also projected to have notable growth in the market. This growth of the market in this region could be encouraged by growth in people working from home. More than 27 percent of the American workforce, or 1 in 4 people, may be operating remotely by 2021, according to estimates. Additionally, a total of approximately 3 million Americans works remotely at least half the time. Hence, the adoption rate of various consumer electronics goods such as laptop, smartphones, and more is set to increase which might also boost the market expansion in this region.
Spatial Light Modulator, Segmentation by Application
- Beam Shaping
- Display Application
- Optical Application
- Laser Beam Steering
- Holographic Data Storage
The display segment is projected capture the highest market revenue by the end of 2035. The major element dominating the segment growth is rising demand for consumer electronics such as smartphones. By 2023, there is projected to be about 5 billion users of smartphones worldwide, which implies that close to 84% of the world's population will be smartphone owners.
Spatial Light Modulator, Segmentation by Type
- Optically Addressed
- Electrically Addressed
The electrically addressed segment is predicted to have notable growth over the forecast period. The growth of the segment is set to be influenced by growing entertainment industry this could be owing to rising number of people streaming movies and series. The amount of streaming content watched globally is increasing, with Asia (about 89%) and LATAM (close to 69%) exhibiting the biggest increases. The number of viewers in North America rose by over 4%.
Request for Customization of this Report @ https://www.researchnester.com/customized-reports-4981
A few of the well-known indsutry leaders in spatial light modulators market that are profiled by Research Nester are Jenoptik AG, Massachusetts Institute of Technology, Holoeye Photonics AG, PerkinElmer Inc., Texas Instruments, Inc., Kopin Corporation, Santec Holdings Corporation, Hamamatsu Photonics KK., Laser 2000 Ltd., Thorlabs, Inc., and others.
Recent Development in the Market
- An international team of researchers worked under the supervision of a team at MIT for more than four years to investigate the problem of high-speed optical beam creation. They have shown a wireless, programmable device that can alter light and do so orders of magnitude more fast than commercial systems, for example, by focusing a beam in a certain direction or modifying the light's intensity.
- Hamamatsu Photonics KK. has developed a new spatial light modulator (SLM), which has the largest effective area in its class and greatly improved heat resistance.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
