Depth Sensing Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Active Depth Sensing, Passive Depth Sensing), By Technology (Time Of Flight, Stereo Vision, Structured Light), By Industry Vertical (Consumer Electronic, Industrial, Healthcare, Building Automation, Automotive), And By Geography - Forecasts From 2023 To 2028

The depth sensing market is estimated to grow at a CAGR of 16.31%, reaching US$10,992.190 million in 2028 from US$3,816.542 million in 2021.

The worldwide market for depth sensing is driven by the increasing demand for its use in facial recognition, gesture control, augmented reality, and virtual reality. The market is expanding significantly in gaming applications.

Studies also examine the efficacy and affordability of touchless gestural interfaces during various surgical procedures. Since the introduction of Microsoft's Kinect gaming controller, depth-sensing cameras have been used often. Scientists at the Universities of Toronto and Carnegie Mellon have created a new imaging technique to address a significant issue with these cameras. Even under intense daylight, a depth-detecting camera developed by CMU and Toronto University can gather 3-D data. 

Technological adoption and demand from consumer electronics and automotive sectors are augmenting the depth sensing market.

Further, one of the key technologies for long- and short-range scanning is LiDAR (light detection and ranging), which gathers more precise data and offers more accuracy than traditional scanning-based sensors like radar and camera-based imaging tech. Additionally, advanced driver assistance systems (ADAS) in cars, which provide the driver with convenience and a human-machine interface for safe guiding and easy operation, are the main applications for LiDAR. The vehicle's autonomous nature needs extremely high precision and assistance for obstacle recognition to avoid them and navigate safely through traffic. Companies have recognized the need for LiDAR, and various industry giants are investing in this technology. For instance, In Feb 2022, Mercedes Benz announced its partnership with Luminar Inc to supply LiDAR for its autonomous driving systems. The partnership will help the automaker accelerate the development of its future automated driving technologies. Such developments from the automotive vendors are further strengthening the market growth.

In April 2023, OnePlus released the Nord CE 3 Lite, a low-cost, amiable smartphone from the Nord CE line. It boasts a Snapdragon 695 chipset and a 108MP camera on the rear in addition to that. The N30 has been verified to be a Nord CE 3 Lite after turning up on Google Play and being labeled a compatible device. The OnePlus Nord CE 3 Lite's rear has three sensors. While the depth sensor and macro unit have 2MP cameras, the main camera has 108MP.

The next A-Series smartphone from OPPO was also introduced in Australia in April 2023. The OPPO Glow procedure gives the backplate a matte surface with a shimmering effect. The back camera boasts a 50MP sensor for improved bokeh effects on selfie photographs and a 2MP sensor with depth detection.

Asia Pacific is expected to grow, fueled by the well-established automotive and consumer electronic market in the region.

The depth sensing market is analyzed into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. Asia Pacific market is segmented into China, Japan, India, South Korea, Taiwan, Thailand, Indonesia, and others, where China is expected to account for a major market share. The growing industrial automation in China has increased robotics installation in the country's industrial sector. For instance, according to the data provided by the International Federation of Robotics, in 2021, robotics installation in China stood at 2,43,300 units, representing an increase of 44% in comparison to 1,68,958 installations done in 2020. Such a significant increase in the installation has provided a positive scope to the market demand for depth sensing technology in China, thereby propelling market growth. The well-established automotive sector and growing adoption of electric vehicles in China have also opened new opportunities for depth sensing technology in the country, as it can be applied for object detection of nearby vehicles, thereby ensuring safety on the road during traffic.

Market Developments:

Growing technological advancements such as time-of-flight technology have quickly expanded in depth sensing because of its low power needs, excellent accuracy, and comparatively simple hardware and software requirements.

• In May 2022, the 3D depth-sensing technology created for Magic Leap 2 by Infineon and pmdtechnologies enabled cutting-edge industrial and medical applications. Magic Leap 2 demonstrates the possibilities of the REAL3TM 3D Image Sensor. The device's new and improved IRS2877C time-of-flight imager empowers the recognition of and eventual interaction with the user's physical surroundings. The 3D imager's VGA resolution enables the precise detection of a range of items. Time-of-Flight technology from Infineon and PMD creates an accurate 3D mapping of the surroundings and a 3D image of people, objects, or hand characteristics in real time.
• In Jun 2022, the first high-resolution, commercial-grade indirect Time-of-Flight (iToF) module for 3D depth sensing and vision systems was released by Analogue Devices, Inc. The new ADTF3175 module delivers extremely precise +/-3mm iToF technology for machine vision applications from industrial automation to logistics, healthcare, and augmented reality, enabling cameras and sensors to perceive 3D space in one-megapixel resolution.
• In November 2022, SEDAR, the platform for spectrum-enhanced detection and ranging, was introduced by Trieye. The technology draws on TriEye's research into CMOS-based SWIR devices (short-wave infrared), an affordable alternative to expensive InGaAs SWIR sensors. It was created with financial support from Intel, Samsung, and Porsche. The SEDAR system combines a SWIR light source and a depth sensor into one unit.

Depth Sensing Market Scope:

Market Segmentation:

• By Type
  • Active Depth Sensing
  • Passive Depth Sensing
• By Technology
  • Time of Flight
  • Stereo Vision
  • Structured Light
• By Industry Vertical
  • Consumer Electronics
  • Industrial
  • Healthcare
  • Building Automation
  • Automotive
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others