3D Sensor Market Return to Trend $9.4 billion by 2026

 

The 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 ", 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.

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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Interactive Kiosk Market expected to reach $32.8 billion by 2025

 

The report "Interactive Kiosk Market by Offering (Hardware and Software & Services), Type (Bank Kiosks, Self-service Kiosks, and Vending Kiosks), Location (Indoor and Outdoor), Panel Size (17”-32” and Above 32”), Vertical, and Region - Global Forecast to 2025", is expected to grow from USD 26.2 billion in 2020 to USD 32.8 billion by 2025, at a CAGR of 4.6%. The growth of this market is driven by factors such as enhanced shopping experience for customers, lower investment costs than traditional outlets, enhanced applications other than conventional ones, and innovations in touch screen display and glass technology.

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Interactive kiosk market for bank kiosks expected to grow at the highest CAGR during the forecast period

Interactive kiosks are largely used for banking and financial services. The market for bank kiosks is expected to register the highest CAGR during the forecast period. The bank kiosks, through their ability to perform different functions, provide more convenient, flexible, high-performance, point-of-interaction solutions to consumers for their banking activities. The customers can complete standard transactions and get remote assistance for complex transactions through these kiosks.

Panel size above 32” is expected to grow at higher CAGR from 2020 to 2025

The market for above 32” interactive kiosks are expected to grow at a higher CAGR from 2020 to 2025. These large-sized displays are very expensive. Hence, they are primarily used in some niche applications. However, improved product performance and reduced cost are expected to open up new application areas for these displays in the corporate, educational, hospitality, and retail sectors during the forecast period.

APAC expected to grow at highest CAGR during forecast period

The interactive kiosk market is rapidly expanding in APAC. The growth of the market in APAC can also be attributed to the advancements in technology and emergence of new business models. The booming retail sector and emerging infrastructures in the region would further facilitate the growth of the kiosks in the APAC region. The growing popularity of kiosk products, large potential customer base, and technological advancements taking place in countries such as India and China are the factors contributing to the growth of the interactive kiosk market in APAC.

Some of the major players operating in the interactive kiosk market are KIOSK Information Systems (US), Olea Kiosks Inc. (US), Frank Mayer and Associates, Inc. (US), Source Technologies (US), NCR Corporation (US), Diebold Nixdorf (US), Embross (Canada), Meridian Kiosks (US), REDYREF Interactive Kiosks (US), lilitab, LLC (US).

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Mine Ventilation Market revenues to grow $401 million by 2024

 

According to the new market research report “Mine Ventilation Market by Offering (Equipment (Ventilation, Heating, Cooling), Software, and Services), Technique (Underground Mining, Surface Mining), and Region (North America, Europe, APAC, RoW) - Global Forecast to 2024” the global mine ventilation market size is estimated to reach USD 401 million by 2024 from USD 326 million in 2019 at a CAGR of 4.3% during the forecast period.

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Ventilation is one of the most important functions in mining operations. Ventilation directly affects the health and safety of employees working underground. A well designed and properly implemented ventilation system is installed in mines to enhance employee safety, comfort, and health. To ensure adequate ventilation in mines, provision is made for the air to flow to the workplaces in mines.  In deeper mines, ventilation is  required for cooling the workplace for miners as growing shaft depths and increasing concentration of digging results in high temperatures. The growth of the market is propelled by the requirement for optimized and quality airflow in mines and a rise in number of infrastructure development projects.

“Mine ventilation market for services to grow at highest CAGR during forecast period”

The services market is expected to grow at the highest CAGR during the forecast period. Services such as installation, testing, and maintenance are required after the purchase of mine ventilation equipment and software for efficient functioning. The continuous innovation and product development lead to the requirement of training and up-gradation of the system.

“Underground mining to hold largest share of overall mine ventilation market from 2019 to 2024”

Underground mining is expected to lead the overall mine ventilation industry during the forecast period. The growth of the market is attributed to rising mining activities across the globe. Mine ventilation system provides a flow of air to the underground workings of a mine in sufficient volume to dilute and remove dust and noxious gases, and regulate temperature.

“APAC to be fastest-growing market for mine ventilation during the forecast period”

The mine ventilation market in APAC is expected to grow at the highest CAGR during 2019–2024. The growing mining activities in emerging economies, such as China, Australia, and India, have contributed to the growth of the mine ventilation industry in APAC. Moreover, the region is one of the most attractive investment destinations for mining companies in the recent past. Further, the demand for mine ventilation is expected to increase with growing infrastructure development projects in the region.

Major players involved in the Mine Ventilation market include ABB (Switzerland), Epiroc (Sweden), Howden (UK), Stantec (Canada), Twin City Fan (US), ABC Industries (US), Chicago Blowers (US), DMT (Germany), TLT Turbo (Germany), and New York Blower Company (US).

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Triple Offset Butterfly Valve Market worth $3.6 billion by 2025

 

The report "Triple Offset Butterfly Valve Market by Material (Stainless Steel, Cast Iron, Cryogenic, Alloy Based), Valve Size, Industry (Oil & Gas, Water & Wastewater Treatment, Energy & Power, Chemicals), and Region - Global Forecast to 2025", is expected to grow from USD 2.8 billion in 2019 to USD 3.6 billion by 2025, at a CAGR of 4.1%. Rising need for tight shutoff, light in wieght, high pressure handling capacity with lower installation cost in critical processes, growing demand for energy & power generation in Asia Pacific, increasing adoption of valves in oil & gas industry, and growing urbanization are the major driving factors for the market’s growth during the forecast period.

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Oil & Gas to account for the largest size of the triple offset butterfly valve market from 2019 to 2025

Oil & gas is expected to be the key end-user industry for the triple offset butterfly valve market. In oil & gas process plants, there are three major process operations—upstream, midstream, and downstream, and triple offset butterfly valves find applications in all three operations.

Triple offset butterfly valves provide process control support, right from the extraction of crude oil till it reaches to the end customers through oil refineries, oil terminals, and depots. They have become key components in the offshore and onshore oil and gas production owing to the high pressure and adverse corrosive conditions experienced within production plants and refineries.

Stainless Steel to hold the largest market share during the forecast period

Steel offers efficient mechanical properties and good resistance to stress corrosion and sulfides. Carbon steel offers high- and low-temperature strength. Carbon steel valves can be used in many locations where extreme pressure and extreme temperature make other materials unusable. Carbon steel is used in the manufacturing of various types of triple offset butterfly valves. Also, the rising demand for high-quality triple offset butterfly valves in food & beverages and chemicals industries to mitigate the threat of contamination will drive the market for stainless steel triple offset butterfly valves during the forecast period.

Asia Pacific to hold the largest share of the triple offset butterfly valve market from 2019 to 2025

APAC held the largest share of the overall triple offset butterfly valve market in 2018.  The triple offset butterfly valve market in APAC for the water & wastewater treatment industry is growing at a significant rate, and a similar trend is likely to be observed in the coming years. Dense population and increasing per capita income in this region, along with large-scale industrialization and rapid urbanization, are the major factors driving the growth of the market in this region. Asia consists of a few fast-growing economies, such as China, India, and other Southeast Asian countries. Owing to the increasing urban population in the region, there is a high demand for new and improved wastewater treatment systems. Therefore, there is a growing focus on using water as a resource in manufacturing and agricultural applications. Thus, the increasing need for proper utilization of water and growing demand for water and wastewater treatment techniques for water reuse create the demand for triple offset butterfly valves in APAC countries.

Emerson Electric Co. (US), Flowserve Corporation (US), Cameron (A Schlumberger Company) (US), IMI PLC (UK), and Metso (Finland) are a few of the key players operating in the triple offset butterfly valve market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Optoelectronic Components Market revenues to grow $52.7 billion by 2025

 

According to the new research report "Optoelectronic Components Market by Component (Sensor, LED, Laser Diode, and Infrared Components), Application (Measurement, Lighting, Communications, and Security & Surveillance), Material, Vertical, and Region - Global Forecast to 2025", the global optoelectronic components market size is projected to grow from USD 41.4 billion in 2020 to USD 52.7 billion by 2025, recording a CAGR of 5.0%. Emerging opportunities for optoelectronic components and R&D could lead to innovation in the optoelectronic components industry. Promising industrial IoT applications provide major growth opportunities to market players. The optoelectronic components industry growth is mainly driven by the increased use of infrared components in consumer electronics & automobiles, long life & low power consumption, demand for improved imaging & optical sensing solutions in the healthcare vertical and suitable physical properties of optoelectronic sensors to operate in harsh environments.

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Sensor component to witness the highest CAGR during the forecast period

The sensor component is projected to record the highest CAGR in the optoelectronic components market from 2019 to 2025, owing to the usage of several types of sensors, including optical, image, phototransistors, photodiodes, and photo relays for varied applications across several industries. The sensor component segment has been further subsegmented into phototransistors, photodiodes, photo relays, image sensors, optical sensors, and ultraviolet sensors.

Measurement application to hold the largest share in the optoelectronic components industry during the forecast period

The application segment comprises measurement, lighting, communications, security & surveillance, and others (geographical survey, scanning, and spectrometry). The measurement segment in the optoelectronic components market is projected to hold the largest share during the forecast period. Measurement systems use optoelectronic sensors to convert light signals to electric current and are used for several applications such as machine vision, monitoring of process and operations, control of process & operation, and experimental engineering analysis, among others.

Silicon carbide material to witness the highest CAGR during the forecast period

Silicon carbide material is projected to record the highest CAGR in the optoelectronic components market from 2019 to 2025, owing to its inherent radiation resistance, high temperature operating capacity, and high voltage & power handling capacity. Moreover, the flexibility of silicon carbide can be used as substrate. Therefore, silicon carbide has gained traction in several applications across verticals such as telecommunication, automotive, medical, military, industrial, and more.

Consumer electronics vertical to hold the largest share in the optoelectronic components industry during the forecast period

The vertical segment comprises automotive, consumer electronics, telecommunication, military & aerospace, medical, residential, commercial, manufacturing, and others (utility, food & beverages, and pulp & paper). The consumer electronics segment is projected to hold the largest share during the forecast period.  The adoption of optoelectronic components in the consumer electronics sector has increased due to technological advancements and the increasing use of consumer goods such as high-end sophisticated cameras, photocopy machines, smartphones, blue-ray storage devices, and flat & flexible television displays, and more.

Presence of prominent system suppliers to drive the demand for pressure sensors in North America during the forecast period

The optoelectronic components market in North America is projected to grow at the highest CAGR during the forecast period. The US, Canada, and Mexico are the major contributors to the growth of the market in North America.

North America is one of the most technologically advanced markets for optoelectronic components owing to the presence of prominent system suppliers, large semiconductor companies, LED, laser, and sensor manufacturers in the region.

Key players operating in the optoelectronic components market include Hamamatsu (Japan), Osram (Germany), TT Electronics (UK), Vishay (US), ON Semiconductor (US), Cree (US), Trumpf (Germany), SICK AG (Germany), Samsung (South Korea), Sony (Japan), and Broadcom (US). Other major companies focus on organic and inorganic growth strategies such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to increase their revenue.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Vibration Sensors Market expected to reach $3.0 billion by 2025

 

According to the new market research report "Vibration Sensors Market with Covid-19 Impact by Type (Accelerometers, Proximity Probes, Displacement Sensors, Velocity Sensors), Monitoring Process (Online and Portable), Equipment, Industry, and Region - Global Forecast to 2025", the vibration sensors market was valued at USD 2.0 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 8.2% from 2020 to 2025. A few key factors driving the growth of this market are growing adoption of automated condition monitoring technologies for the development of smart factories, rising use of wireless systems for machine condition monitoring, ongoing transition from preventive to predictive maintenance, and increasing demand for vibration sensors from emerging applications.

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Accelerometers to hold largest share of vibration sensors market during forecast period

Accelerometers are expected to account for the largest share of the vibration sensors market during the forecast period. The growth of this segment can be attributed to the increased use of accelerometers for collecting vibration monitoring data. Piezoelectric accelerometers are the most commonly used sensors in vibration monitoring applications. They are suitable for a wide band of frequencies, ranging from very low to very high frequencies. These accelerometers are also available in a wide variety of application-specific designs.

Energy and power industry to account for the largest share of vibration sensors market during forecast period

The Energy and power industry is expected to account for the largest share of vibration sensors market during forecast period. The power industry is facing challenges owing to the continuously increasing demand for power and the requirement to reduce distribution losses. This has led power generation companies to offer continuous power supply at low costs and monitor their processes for any unwanted changes. Hence, vibration sensors play a crucial role in the power sector.

Vibration sensors market in APAC to grow at highest CAGR during forecast period

Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure on industries such as oil and gas, energy and power, chemicals, and automotive to achieve operational efficiency are fueling the growth of the vibration sensors market in APAC. The expansion of manufacturing activities as a result of the shifting of production bases to APAC countries, such as China, India, and South Korea, with low labor costs, is driving the demand for vibration sensors in the region. However, the outbreak of the COVID-19 has significantly affected the manufacturing sector of APAC. As neighboring countries in the region are linked to one another through trade relations and supply chain, the entire region is affected by this pandemic.

Baker Hughes Company (US), TE Connectivity (Switzerland), SKF (Sweden), Honeywell International Inc. (US), Emerson Electric Co. (US), Robert Bosch (Germany), NXP Semiconductors (Switzerland) Omron Corp. (Japan), Rockwell Automation Inc. (US), National Instruments (US), Robert Bosch (Germany), Dytran Instruments, Inc. (US), KEYENCE Corp. (Japan), Fluke Corp. (US), Wilcoxon Sensing Technologies (US), PCB Piezotronics (US), and SPM instrument (Sweden), are among the major players in the vibration sensors market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Artificial Intelligence (Chipsets) Market worth $57.8 billion by 2026

 

According to the latest market research report "Artificial Intelligence (Chipsets) Market by Technology (Machine learning, Natural Language Processing, Context Aware Computing, Computer Vision), Hardware (Processor, Memory, Network), End-User Industry, and region - Global Forecast to 2026", The global AI (chipsets) market size is expected to be valued at USD 7.6 billion in 2020 and likely to reach USD 57.8 billion by 2026, at a CAGR of 40.1% during the forecast period. Major drivers for the market are increasingly large and complex datasets driving the need for AI, the adoption of AI for improving consumer services and reducing operational costs, the growing number of AI applications, the improving computing power, and growing adoption of deep learning and neural networks.

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The computer vision technology projected to grow at the highest CAGR during the forecast period

Computer vision technology is expected to grow at the highest CAGR in the AI (chipsets) market during the forecast period. The growing adoption of computer vision in autonomous or semiautonomous applications in various industries, such as manufacturing and automotive, is propelling the growth of this technology in the AI (chipsets) market.

The GPU segment is expected to grow the fastest during the forecast period

The market for GPUs is expected to grow at the highest CAGR during the forecast period. This growth is attributed to high parallel computing offered by GPUs and increasing adoption of GPUs at servers/edge devices for processing various AI applications/solutions across industry verticals. GPUs and FPGAs are widely used to implement machine learning algorithms. In terms of throughput, GPUs are ~100 times faster than FPGAs, whereas, in terms of power efficiency, FPGAs are 50 times better than GPUs. GPUs are used extensively to accelerate computational workloads, and their capabilities are growing faster than those of x86 CPUs

AI (chipsets) for the manufacturing industry is expected to grow at highest CAGR during the forecast period

The AI (chipsets) market for the manufacturing industry is expected to witness the fastest growth during the forecast period. This growth is attributed to increasing factory automation and growing demand to reduce operational costs. Additionally, trends such as Industry 4.0 are boosting the growth of AI (chipsets) in the manufacturing sector.

AI (chipsets) market in APAC projected to grow at the highest CAGR from 2020 to 2026

The market in APAC is anticipated to grow at the highest CAGR during the forecast period. This growth can be attributed to the adoption of AI services in end-user industries such as manufacturing, healthcare, and automotive in countries such as Japan, China, Australia, and South Korea. Additionally, declining AI hardware costs and increasing demand to improve consumer services are supplementing the growth of the AI (chipsets) market in APAC.

Some of the major players in the AI (chipsets) market are NVIDIA Corporation (NVIDIA) (US), Intel Corporation (Intel) (US), Xilinx, Inc. (Xilinx) (US), Samsung Electronics Co., Ltd. (Samsung) (South Korea), Micron Technology, Inc. (Micron) (US), Qualcomm Technologies, Inc. (US), International Business Machines Corporation (IBM) (US), Google Inc. (Google) (US), Microsoft Corporation (Microsoft) (US), Amazon Web Services (an Amazon.com, Inc. subsidiary) (AWS) (US), Advanced Micro Devices, Inc. (AMD) (US), General Vision, Inc. (US), and Huawei Technologies Co., Ltd. (Huawei) (China).

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