3D Sensor Market worth $9.4 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 5, 2021 /PRNewswire/ -- According to the new market research report "3D Sensor Market with COVID-19 Impact, by Type (Image Sensors, Position Sensors), Technology (Time of Flight, Structured Light), End-use Industry (Consumer Electronics, Industrial Robotics, Automotive), and Region, Global Forecast to 2026", published by MarketsandMarkets™, the 3D Sensor Market size is estimated to be USD 2.7 billion in 2021 and is projected to reach USD 9.4 billion by 2026; it is expected to grow at a CAGR of 28.1% from 2021 to 2026. Factors such as growing penetration of 3D depth sensors in various devices and increased demand for virtual reality in gaming consoles are likely to provide opportunities for market growth.
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The 3D sensor market includes major Tier I and II players like Infineon Technologies AG (Germany), OmniVision Technologies, Inc. (US), Sony Corporation (Japan), Cognex Corporation (US), Lumentum Operations LLC (US), and others. These players have a strong market presence for 3D sensor across various countries in North America, Europe, APAC, and RoW.
Rising demand for 3D sensing-enabled consumer electronics
Initially, the application of 3D sensors was primarily limited to the gaming sector; however, with further technological advancements and R&D, the application areas of 3D sensors have increased. Currently, 3D sensors are implemented on laptops, smartphones, and various electronic gadgets. This can be attributed to the growing consumer demand for advanced features in smartphones and other electronic gadgets.
3D image sensor type is expected to grow at the highest rate during the forecast period
In the consumer electronics industry, 3D image sensors are increasingly being used in digital cameras, camera modules, and other imaging devices. Companies such as Apple Inc. (US), Google Inc. (US), and Microsoft Corporation (US) incorporate 3D image sensors into smartphones, tablets, laptops, and other devices. In 2018, Huawei (China), a prominent manufacturer of smartphones, introduced a new smartphone, Honor Magic 2, with a 3D camera and graphene heat pipe. In 2020, Apple launched iPhone 12 Pro with ToF 3D sensor. In March 2019, Samsung launched a new smartphone model, S10, with Qualcomms 3D Sonic fingerprint sensor, which is also present in its next-generation smartphone. These developments in smartphones are expected to boost the 3D sensor market during the forecast period.
Consumer electronics end-use industry to hold the largest market size of 3D sensor market during the forecast period
The consumer electronics end-use industry is expected to hold the highest market share between 2021 and 2026. Biometric scanning and other cutting-edge 3D sensing technologies are redefining the world of consumer electronics. 3D sensing plays an important role across consumer electronics, such as facial recognition in smartphones, laptops, and tablets; high-performance in-depth sensing in photography; and AR/VR applications in gaming consoles. Microsoft Kinect, having game recognition abilities, has transformed the home gaming industry with advancements such as multi-player 3D position sensing, facial expression detection, and touchless heart rate monitoring. Intelligence, reliability, low power consumption, and low cost are the drivers for the integration of 3D sensing technology in consumer electronics.
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3D sensor market in North America to hold the highest market share during the forecast period
North America is expected to lead the global 3D sensor market. The growth of the market in this region can be attributed to the presence of key manufacturers of consumer electronics with a high adoption rate of new technologies. The growth of the consumer electronics industry is another factor driving the 3D sensors market in this region. The presence of key manufacturers of sensors such as Intel, Lumentum, Cognex Corporation, and OmniVision Technologies drives the market across the US. Companies such as Google, Microsoft, and Apple are investing in 3D sensing technologies across consumer electronics and robotics applications. These factors have contributed to the huge growth of the 3D sensor market in North America.
Infineon Technologies AG (Germany), OmniVision Technologies, Inc. (US), Sony Corporation (Japan), Cognex Corporation (US), Lumentum Operations LLC (US), ifm electronic gmbh (Germany), Intel Corporation (US), KEYENCE CORPORATION. (Japan), LMI Technologies Inc. (Canada), Microchip Technology Inc. (US), II-VI Incorporated (US), AIRY3D (Canada), ASUSTeK Computer Inc. (Taiwan), CronAI (UK), Leuze electronic GmbH + Co. KG (Germany), Mantis Vision ltd. (Israel), Melexis NV (Belgium), Microsoft (US), Occipital, Inc. (US), Orbbec 3D (US), Panasonic Corporation (Japan), Qualcomm Technologies, Inc. (US), Quanergy Systems, Inc. (US), Samsung (South Korea), and SICK AG (Germany) are among the many players in the 3D sensor market.
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