3D Sensor Market 2018 | High Growth at a CAGR of 25.23% along with INFINEON TECHNOLOGIES AG, COGNEX, LMI TECHNOLOGIES, OCCIPITAL, PANASONIC, SICK AG, SONY till 2023

The global 3D sensor market was valued at USD 1.68 billion in 2017, and is expected to reach a market value of USD 6.47 billion by 2023, registering a CAGR of 25.23% during the forecast period of 2018-2023. The report discusses the various types of sensors and end users adopting these solutions. Regions considered for the scope of this report are North America, Europe, and various others. The study also emphasizes on how increasing sales of smartphones is affecting the market.

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Increased adoption of 3D technology in various industry verticals (for shape analysis, 3D modelling, 3D printing) has given rise to sensors that can gauge shapes in real-time. Instruments that were once bulky are now miniaturized, owing to advanced technologies. Moreover, rapid technological advancements opens up a plethora of new applications across different industry verticals where these sensors can be used. However, implementing these 3D sensors requires expertise, such as to glean maximum information from the minimal use and location of sensors. This lack of expertise in the field of 3D sensors positioning and fixation is expected to hinder the growth of the 3D sensors market.

Key Developments in the Market
January 2018 - PMD Technologies AG and Ningbo Sunny Opotech announced a collaboration to strengthen their existing partnership jointly. Together, the partners are likely to develop and market 3D sensing camera solutions for mobile devices to OEMs in China and the rest of the world
January 2018 - PMD Technologies AG announced that it would showcase its new 3D imager IRS238XC for the first time at CES in Las Vegas
August 2017 - Qualcomm Technologies, Inc., and Himax Technologies, Inc. announced collaboration to accelerate the development and commercialization of a high resolution, low power active 3D depth-sensing camera system

Major Players:
INFINEON TECHNOLOGIES AG, COGNEX CORPORATION, LMI TECHNOLOGIES, OCCIPITAL, INC., PANASONIC CORPORATION, SICK AG, SONY CORPORATION, AND XYZ INTERACTIVE, amongst others.

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Growing Demand for 3D Sensors in Consumer Electronics to Drive the Market
Consumer electronic devices, such as TVs, smartphones, and tablets are now 3D enabled and offer immersive viewing experiences to the consumers. The miniaturization of the sensors, coupled with mass production leading to cost-effectiveness distinguishes it from other methods, which is further aiding the acceptance of this technology in the market. In addition, the gaming industry is embedding 3D sensors in gaming consoles, allowing these consoles to track the body movements and integrating the same into the game to allow for a greater immersive experience. This has led to a shift in gaming experience from casual gaming to fitness-based gaming, to improve over lifestyles as well.

Consumer Electronics to Augment the Market Growth
Time of flight and structured light technology is making an impact on these devices, which is, in turn, aiding the growth of the market. Moreover, enhanced internal specifications of smartphones, tablets, and laptops are paving the way for the integration of 3D sensors to provide additional functionalities to these devices. Although the segment today is still developing, there can be a significant rise in market values as the technology is further developed and rolled out commercially in the market.

North America is the Market Leader
North America accounts for the highest market share, owing to the gradually increasing demand for smartphones in the region. Moreover, the local player Apple's product iPhone, is playing a significant role in increasing the demand for smartphones in United States. Similarly, in Canada, there is a trend of people keen on trying the innovative technology. It has led to the growth in demand for the consumer, which demand enhanced image quality, such as laptops, and Ultra HD or 4K television sets. This is further expected to drive the 3D sensors market. In addition, fast adoption of new technology, such as the self- driving cars in the region is further expected to drive the demand for 3D sensors in automotive segment

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