The global 3D Sensor market is projected to witness a CAGR of 11.44% over the forecast period to reach a total market size of US$4,675.470 million by 2025, from US$2,440.993 million in 2019. Growing demand for 3D-enabled consumer electronics devices along with the falling prices of sensors are some of the major factors driving the market growth. Rising demand for 3D sensors for 3D gaming technology will also fuel market growth. The integration of nanotechnology with 3D sensors in a wide range of applications is also propelling the demand for 3D sensors over the forecast period. However, the lack of product differentiation and limited manufacturing excellence will hinder the market growth during the forecast period.
The growing incorporation of AI within the gaming industry is expected to drive the adoption 3D sensor in the consumer electronics industry.
By the end-user industry, the consumer electronics segment will grow at a high CAGR during the forecast period. Growing awareness concerning good health and fitness is escalating the demand for wearables. There has been a growing demand for 3D-enabled smartphones and cameras further contributing to the growth of the global 3D sensor market. Simultaneously, face recognition based on 3D imaging technology is becoming a standard within the smartphone industry. Furthermore, there has been an increasing trend of using products of smaller size which is leading to increased production of miniaturized components. As a result, the production of miniaturized components of different consumer electronic products involves vision and optical inspection to ensure that it meets the required standard.
Moreover, the incorporation of artificial intelligence and virtual reality in the gaming industry has been evolving rapidly over the years. Many large game development companies are integrating virtual reality in their products to enhance user experience and improve their revenue generation opportunity. Moreover, the recent introduction of several virtual reality headsets in 2019 is an indication of the growing interest in virtual reality within the gaming industry. For instance, HTC launched its new Vive Cosmos virtual reality headset in October 2019 in India. Similarly, the availability of Oculus Quest and Rift S VR headsets also boosted the growth of the VR-based gaming industry, which in turn, is fuelling the growth of the 3D sensor market.
A significant share of the market is held by North America.
Geographically, North America is estimated to hold a significant share of the global 3D Sensor market in 2019 and is expected to grow at a steady pace during the course of the forecast period owing to the early adoption of the technology across various end-use industries in the region. Moreover, the advancement in the development of 3D sensors has increased its utility in the measurement and inspection applications for the heavy manufacturing industry, enabling the companies to lower the cost of production and improve the development cycle of the product. For instance, IVS recently launched a range of vision sensors for 3D vision operations in a harsh industrial environment that has the capability to deliver optimal performance in challenging inspection and guiding applications where conventional systems struggle. Furthermore, the growing investment in the development of autonomous driving vehicles is further supplementing the growth of the market. According to the U.S Department of Transportation Secretary Elaine Chao, there are more than 1,400 self-driving cars and trucks that are currently being tested by more than 80 companies across the 36 U.S states.
Asia Pacific region will witness the fastest regional market growth during the forecast period due to expanding the consumer electronics industry in China and India. Moreover, the growing efforts by the government of India to improve domestic manufacturing is further anticipated to provide high revenue generation opportunities for the 3D sensor manufacturers. Furthermore, robust sales of 3D gaming consoles in the region will further contribute to the germination of the 3D sensor market in the region.
|Market size value in 2019||US$2,440.993 million|
|Market size value in 2025||US$4,675.470 million|
|Growth Rate||CAGR of 11.44% from 2019 to 2025|
|Forecast Unit (Value)||USD Million|
|Segments covered||Technology, Type, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||OmniVision Technologies, Inc., Infineon Technologies AG, Sony Depthsening Solutions, Cognex Corporation, IFM Electronic GmbH, ASUSTeK Computer Inc., Microchip Technology Inc., Occipital, Inc., Panasonic Corporation, LMI Technologies, Inc.|
|Customization scope||Free report customization with purchase|
· By Technology
o Structured Light
o Stereo Vision
o Time of Flight
· By Type
o Image Sensor
o Pressure Sensor
o Position Sensor
o Temperature Sensor
· By End User Industry
o Military and Defense
o Consumer Electronics
o Media and Entertainment
· By Geography
o North America
o South America
o Middle East and Africa
§ Saudi Arabia
o Asia Pacific
Frequently Asked Questions (FAQs)
Q1. What will be the 3D sensor market size by 2025?
A1. The global 3D sensor market is projected to reach a total market size of US$4,675.470 million in 2025.
Q2. What are the growth prospects for the 3D sensor market?
A2. The 3D sensor market is projected to grow at a CAGR of 11.44% during the forecast period.
Q3. What is the size of the global 3D sensor market?
A3. 3D Sensor Market was valued at US$2,440.993 million in 2019.
Q4. Which region holds the largest market share in the 3D sensor market?
A4. Geographically, North America is estimated to hold a significant share of the global 3D Sensor market owing to the early adoption of the technology across various end-use industries in the region.
Q5. What factors are anticipated to drive the 3D sensor market growth?
A5. Growing demand for 3D-enabled consumer electronics devices along with the falling prices of sensors are some of the major factors driving the 3D sensor market growth.
Infineon Technologies AG
Sony Depthsening Solutions
IFM Electronic GmbH
ASUSTeK Computer Inc.
Microchip Technology Inc.
LMI Technologies, Inc.
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