Spatial Light Modulator Market Trends

Growth Drivers

• Growing Adoption of Automotive- Around 65 million vehicles were sold globally in 2021, however about 66 million vehicles were sold globally in 2022. The installation of driver-assistance systems (ADAS) is also growing. A spatial light modulator could be used as LiDAR in ADAS. This enables the creation of accurate 3D maps of the surrounding for object detection to avoid accidents.
• Rise in Installation of Digital Signage- With the growing installation of digital signage, the adoption of spatial light modulators is also predicted to grow. The spatial light modulator is set to offer engaging content by enhancing the capacity of digital signage.
• Use of SLMs in Medical Imaging- Various biomedical imaging techniques such as optical coherence tomography (OTC) and multiphoton microscopy are making use of spatial light modulators. The spatial light modulator improves the image quality by shaping the wavefronts.

Challenges

• Lack of Awareness Among Users Regarding Spatial Light Modulator
• Lack of Technical Knowledge Among Researchers 
• High Cost of Spatial Light Modulators – The cost of spatial light modulators is usually high. Hence, it might limit the adoption to those with tight budget constraints. The factors boosting the price of the spatial light modulator are the complexity of the manufacturing process and the involvement of specialized technology and materials. Therefore, this factor is poised to hinder the growth of the market.