3D Sensors Market expected to reach 5.46 Billion USD

According to the new market research report "3D Sensors Market by Type (Image, Position, Accelerometer, Acoustic), Technology (Stereo Vision, Structured Light, Time-of-Flight, Ultrasound), Application, and Geography - Global Trend & Forecast to 2022", the 3D sensors market is expected to reach USD 5.46 Billion by 2022, at a CAGR of 26.5% between 2016 and 2022. The major factors driving the growth of the 3D sensors market include the rising demand for 3D enabled devices in consumer electronics, integration of the optical and electronic components, the use of sensing technology in gaming applications, and the growing requirement for security & surveillance systems.

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“Time-of-flight to hold a major share of the overall 3D sensors market during the forecast period”

The 3D sensors market for the time-of-flight technology is expected to grow at the highest rate during the forecast period. The main factor driving the growth of this market is the time of flight sensors that provides much higher frame rate compared to other sensor technologies. However, they provide a lower z-resolution (approximately 1 to 2 cm) compared to other 3D sensors. The features such as compactness and ease of use along with high accuracy and frame rate have helped this market grow.

“Consumer electronics application to exhibit highest growth rate by 2022”

The market for the consumer electronics application is expected to grow at the highest rate during the forecast period. This is mainly because of the high adoption rate of 3D sensors in consumer electronics. The presence of additional features such as virtual reality and motion detection in the gaming sector has boosted the growth of this market. Continuous product development with innovation in consumer electronics has increased the demand for 3D sensors.

“North America to be the largest market for 3D sensors during the forecast period”

3D sensors are increasingly being adopted in North America, owing to the growing demand for effective and efficient processing in terms of three-dimensional imaging. Increasing focus of companies to implement 3D sensors in various applications and ongoing research & development have enabled the growth of the North American 3D sensors market. The implementation of 3D sensors helps in improving the understanding and the working process in various applications such as healthcare, aerospace and defense and automotive, where in-depth knowledge is of utmost importance.

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The major companies that develop 3D sensors include ASUSTeK Computer Inc. (Taiwan), Cognex Corporation (U.S.), Infineon Technologies AG (Germany),  Intel Corporation (U.S.), IFM Electronic GmbH (Germany), LMI Technologies, Inc. (Canada), Microchip Technology Inc. (U.S.), Microsoft Corporation (U.S.), Occipital, Inc. (U.S.), OmniVision Technologies, Inc. (U.S.), PMD Technologies AG (Germany), Qualcomm Technologies, Inc. (U.S.), and SoftKinetic (Belgium).

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