MEMS Mirrors Market Size

MEMS Mirrors Market Analysis

The MEMS mirrors market is anticipated to grow at a CAGR of 5.76% over the forecast period. MEMS mirrors are tiny electromagnetic mirrors that include MEMS technology. Within the magnetic field caused by the magnet, electrical current flowing in the coil encircling the mirror makes a Lorentz force based on Fleming's left-hand rule, which drives the mirror. Moreover, MEMS mirrors feature a wide optical deflection angle, high mirror reflectivity, and low power utilization.

• Furthermore, MEMS mirrors offer a significant way to scan light spatially. They are used for various applications, such as raster scanning RGB light for display engines or checking infrared light for depth cameras (3D sensing) using structured light or Time of Flight (TOF) techniques. In addition, the role of the MEMS is significant, and it is responsible for customizing the paths of the other wavelengths in either device. It would be beneficial to improve the execution of such MEMS and, thereby, the performance of the optical components and optical systems they form part of.
• In March 2021, STMicroelectronics and OQmented, a deep-tech startup focused on MEMS-mirror technology, agreed to collaborate on advancing the technology for Augmented Reality (AR) and 3D-sensing markets. The joint effort seeks to build on the expertise of both companies to develop the technology and products behind the leading MEMS-mirror-based laser-beam scanning (LBS) solutions in the market.
• In September 2021, with a mission to make lightweight AR/VR intelligent glasses a practical reality, venture-backed innovator OQmented declared the industry's first one-chip MEMS mirror-based laser beam scanning (LBS) solution. The development gives product developers the latest ultra-compact projection display option, allowing light and stylish glasses yet entitled to advanced visualization capabilities. OQmented's high-speed LBS solution allows the highest resolution, most considerable operating time, and lowest power utilization with industry-leading cost importance in a tiny package optimized for smooth integration and easy optomechanical alignment.
• In March 2021, Hamamatsu Photonics UK Ltd and Medical Technologies Innovation Facility (MTIF) declared that they have entered into a collaboration agreement enabling customers to consider and utilize Hamamatsu's Functional Drug Screening System (FDSS) µCELL. This is the first FDSS/µCELL to be made available in the UK in this way. This new collaboration focuses on leveraging the photonics expertise, novel proprietary technology, and applications of Hamamatsu with the significant medical technology research and development capabilities of MTIF.
• Furthermore, in the initial phase of 2020, COVID-19 disease started to spread over the globe, millions of people globally were infected with COVID-19 disease, and significant economies worldwide have implemented foot prohibitions and work stoppage orders. Excluding the medical supplies and life support products industries, many industries have been adversely influenced, and MEMS Mirrors industries have also been significantly impacted. Moreover, COVID-19 can affect the global economy in 3 significant ways by directly influencing production and demand, by creating supply chain and market interruptions, and by its financial impact on firms and financial markets.