3D sensors have gained prominence owing to its ability to measure depth and increase the intelligence of the machine. Improvements in computer vision and artificial intelligence are pivotal in pushing the development of these sensors. The global 3D sensors market report by Market Research Future (MRFR) takes a deeper view into the industry by keeping an eye on growth enablers, challenges, opportunities, and trends for the period of 2018 to 2023 (forecast period). The COVID-19 outbreak and its impact on the industry are explored in the report as well.
The global 3D sensor market is expected to grow from USD 1,123.5 million in 2017 to USD 4,807 million by 2023. It is expected to expand at a CAGR of 28% during the forecast period. Huge demand for 3D enabled sensors in consumer electronic devices such as tablets and smartphones, need for precision and surveillance, rise of augmented and virtual reality (AR/VR), and use in imaging applications are major drivers of the market. The use of 3D sensors in robotics for preventing collisions and eliminating human errors can bode well for the market. This is evident with the use of collaboration robots in warehouses which stops their movement in the proximity of humans to prevent accidents.
The huge potential in the gaming industry is projected to be highly lucrative for the global 3D sensor market. The integration of these sensors in the latest devices and the development of microelectromechanical systems (MEMS) for gaming devices for driving the future of gaming can fuel the market effectively. The use of high-resolution effects has induced the demand for 3D-enabled portable devices, 3D display TVs, and 3D desktop PCs.
The global 3D sensors market is segmented by technology, type, and end-user.
By technology, it is segmented into time-of-flight, projected light/structured light, stereo vision, and ultrasound. The time-of-flight segment is expected to garner huge revenues for the global 3D sensors market owing to applications in automotive, manufacturing, and AR/VR.
By type, it is segmented into image sensor, acoustic sensor, accelerometer, and others
By end-user, it is segmented into healthcare and medical devices, industrial, automotive, consumer electronics, logistics, and aerospace defense.
The geographic analysis of the global 3D sensors market has been conducted for North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). APAC is expected to dominate the 3D sensor market during the forecast period due to rising applications of 3D sensors in gaming, medical device manufacturing, automobiles, and consumer electronics. The use of gesture control systems in latest cars can drive the market demand exponentially. The focus on smart manufacturing and use of machine vision for quality products can influence the market potential.
North America has assumed the second position in the 3D sensor market. This can be attributed to the integration of 3D sensors in the latest smartphones. The use of technology for developing high-resolution images and preventing unauthorized access to phones can bode well for the regional market.
Infineon Technologies AG, Occipital Inc., Qualcomm Technologies Inc., Microsoft Corporation, Intel Corporation, STMicroelectronics, Xovis AG, Sony Corporation, Cognex Corporation, AsusTek Computers Inc., Finisar Corporation, AMS AG, Texas Instruments, SICK AG, and Microchip Technology Inc. are key players of the global 3D sensors market.