The tunable filter market was valued at USD 108.5 Million in 2016 and is expected to reach USD 203.1 Million by 2023, at a CAGR of 8.86% during the forecast period. The adoption of acousto-optic tunable filters (AOTFs) for various medical and commercial applications and implementation of liquid crystal tunable filters for highly demanding machine vision applications are the major factors that drive the demand for tunable filters. For this study, the base year considered is 2016, and the market forecast is provided for 2017–2023.
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According to the new market research report, the “Tunable Filter Market by Type (Liquid Crystal, Acousto-Optic, Linear-Variable), System Type (Software-Defined Radios, Handheld Radios, Radar Systems, Spectrometers, Communication Systems), Application, and Geography - Global Forecast to 2023” is estimated to grow from USD 122.0 Million in 2017 to USD 203.1 Million by 2023, at a CAGR of 8.86% between 2017 and 2023. The implementation of liquid crystal tunable filters for highly demanding machine vision applications is driving the growth of the tunable filter market.
Browse 34 market data Tables and 37 Figures spread through 129 Pages and in-depth TOC on "Tunable Filter Market - Global Forecast to 2023"
The market for liquid crystal tunable filters is expected to grow at the highest rate between 2017 and 2023
The market for liquid crystal tunable filters (LCFTs) is expected to grow at the highest CAGR between 2017 and 2023.LCFTs are having a wide array of applications across different systems, which, in turn, is increasing the growth of the liquid crystal tunable filter market.
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Also, these filters provide better imaging of specular objects; therefore, LCFTs are being highly adopted to be used in the machine vision systems.
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The market for spectrometers and near-infrared (NIR) instruments is expected to grow at the highest CAGR between 2017 and 2023
The market for other commercial systems, namely, near-infrared (NIR) instruments, and spectrometers, used for commercial applications, is expected to grow at the highest CAGR between 2017 and 2023. Liquid crystal, acousto-optic, and Fabry-Perot tunable filters are highly used in near-infrared (NIR) instruments, scanning instruments, and spectrometers.
The tunable filter market in APAC to grow at the highest CAGR during the forecast period, while North America is expected to hold the largest market share by 2023
The tunable filter market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The growth of the tunable filter market in APAC can be attributed to the rapid adoption of wireless communication technologies by emerging countries such as China and India.
Commercial, telecommunication, and defense are the major applications driving the growth of the tunable filter market in APAC. North America is expected to hold the largest market share by 2023.
The remarkable demand for advanced communication solutions from countries such as the US and Canada have and high military expenditure of the US and Canada are the factors that fuel the growth of the tunable filter market in North America.
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The key players in the ecosystem of the tunable filter market profiled in this report include Santec Corporation (Japan), Semrock (US), EXFO (Canada), Dover Corporation (US), Gooch & Housego (UK), Brimrose Corporation of America (US), Kent Optronics (US), Micron Optics (US), Thorlabs (US), DiCon Fiberoptics (US), AA Opto Electronic (France), Netcom, Inc. (US), Coleman Microwave (US), Delta Optical Thin Film (Denmark), and Smiths Interconnect (UK and US).
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