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The 3D Sensor Market Projected to Surge with CAGR of 28.8% in the 2019-2026 Timeframe

Research Dive has published a latest report titled, ‘3D Sensor Market, by Type (Position Sensor, Image Sensor, Accelerometer Sensor, Others), Technology (Time of Flight, Structured Light, Ultrasound, Stereoscopic Vision, Others), Connectivity (Wired, Wireless), End Use (Healthcare, Consumer Electronics, Automotive, Aerospace & Defense, Others), Regional Analysis (Asia-Pacific, North America, Europe, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026’.

The 3D sensor market accounted for $1,464.6 million in 2018 and is projected to reach up to $11,276.8 million by 2026, growing at a CAGR of 28.0% in the forecast period.

Regional Analysis

Asia-Pacific region is estimated to harbor a revenue of $3,067.3 million by 2026 with a substantial CAGR of 28.8% in the forecast period. The growth of the 3D sensor market is due to several end-users such as electronics, healthcare, and automotive. Apart from this, India and China are considered as the main revenue contributors of this market as these have large manufacturing base in the Asia-Pacific region.

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Key Segments of the Market

The report divides the market based on type, technology, connectivity, end-use, and regional analysis.

  • The image sensor sub-segment type is expected to generate maximum revenue and grow with a CAGR of 29.2% in the predicted timeframe. The rise in demand for smart phones and cameras that consist of advanced biometric features will enhance the market growth.
  • Amongst the end-use segment, the consumer electronics sub-segment is anticipated to grow tremendously in the forecast period from a market size of $351.5 million in 2018, with a CAGR of 24.0%. This is primarily due to usage of 3D sensors in PCs, smart phones, remote controllers, and cameras. Apart from this, utilization of 3D sensors as image sensors, position sensors, and accelerometers will propel the market growth. All these factors will augment the market in the forecast period.

Market Dynamics

3D sensor market will surge due to the usage of 3D technologies in the automotive sector, consumer electronics, healthcare, and manufacturing plants. All these sectors are using 3D sensors for enabling safety, improving biometric sensing on the phones, and detecting liabilities in the manufactured products. All these aspects are expected to enhance the 3D market in the analyzed timeframe.

However, high costs of 3D sensors and maintenance costs associated with it will hinder the market growth. On the other hand, popularity of virtual reality and augmented reality in gaming is developing opportunities in the market.

Key Players and Business Strategies

Top key participants of the 3D sensor market are OmniVision Technologies, Inc., Infineon Technologies AG, pmd technologies ag, SAMSUNG, COGNEX CORPORATION, LMI TECHNOLOGIES INC., Microchip Technology Inc., Qualcomm Technologies, Inc., Occipital, Inc., KEYENCE CORPORATION, and Sony Depthsensing Solutions SA/NV.

These market players are focusing on new technology, product launches, upgradation of current technologies, and R&D activities to increase the market size of the 3D sensor industry. For example, in May 2019, Infineon Technologies AG launched novel product “REAL3™ IRS2381C”, which is a 3D image sensor that is designed for the smartphones.

The report mentions numerous factors of all the crucial market players that are active in the market. Some features such as financial performance, present strategic plans, product file, developments and SWOT scrutiny are also included in the report.

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