3D Sensor Market is Expected to Reach US$ 2,556.6 Mn by 2026

According to a new market report pertaining to the 3D sensor market, published by Transparency Market Research, the global 3D sensor market is expected to reach US$ 2,556.6 Mn by 2026, expanding at a CAGR of 7.2% from 2018 to 2026. According to the report, the global 3D sensor market will continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at a CAGR of 7.9% through 2026.

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Need to improve performance of electronic devices driving the global 3D sensor market

Most 3D sensors enhance performance of consumer electronic devices including smartphones, laptops, cameras, and gaming devices, apart from many other automotive, and healthcare applications. The additional features provided by 3D sensors such as depth sensing, augmented reality in gaming devices, and some other significant features improves performance of these devices and offers better user experience. This has led to the growth in integration of 3D sensors in electronic devices which helps to drive the global 3D sensor market.

3D Sensor Market: Scope of the Report

The global 3D sensor market is broadly segmented in terms of type, technology, end use, and region. By type, the global 3D sensor market is segmented into image sensor, position sensor, acoustic sensor, proximity sensor, and others. Among all the sensor types, the image sensor segment held the highest market share of 48.83% in 2017. Image sensors offer artificial intelligence in smartphones introduced by some of the leading players such as Apple. Apple has already taken the lead to include image sensors in their smartphones, and other companies are also following the same trend. Hence, the image sensor segment is anticipated to be the dominant segment with the highest CAGR of 7.9%. By technology, the global 3D sensor market is segmented into stereo vision, time-of-flight, structured sensor, infrared sensor technology, and hall technology.

Among these technologies, time-of-flight contributed the largest market share of 37.18% in 2017 and is anticipated to dominate the market during the forecast period owing to increasing adoption in multiple applications. This is mainly due to much higher frame provided by time-of-flight compared to other technologies. Based on end use, the market is segmented into consumer electronics, healthcare, aerospace & defense, automotive, industrial robotics, security & surveillance, media & entertainment, and others. Among the end users, automotive sector is anticipated to dominate the global 3D sensor market with the highest CAGR of 8.3% throughout the forecast period. 3D sensors are used in vehicles for real-time imaging in various applications such as passenger monitoring, autonomous driving, and to monitor driver attentiveness. This has influenced the use of 3D sensors inside vehicles which is resulting in increasing growth scale of 3D sensors in the automotive sector.

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Based on region, the global 3D sensor market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America dominated the 3D sensor market in 2017 with the U.S. contributing majority share of 82.50%. The dominance of the country in the market is attributed to rise in virtual reality gaming and augmented reality games. Further, 3D imaging provides a visual effect which generates a perception of depth, resulting in an enhanced 360 degree viewing experience of the image. Therefore, due to these superior features, 3D sensors are extensively being used by video games providers which has resulted in significant growth of the global 3D sensor market. Analyzing the North America 3D sensor market at country level, it is anticipated that the U.S. would lead the 3D sensor market throughout the forecast period. This is mainly due to presence of leading manufacturers of 3D imaging technology based devices. Apart from the U.S., Canada and other countries are also expected to contribute significantly to the North America market. North America and Europe are collectively set to account for 61.99% of the global market share in 2018. However, Asia Pacific has the highest CAGR of 7.9% due to increasing usage of smartphones. According to GSMA statistics, by 2020, the smartphone market will expand by 65% in Asia Pacific and this will indirectly affect the 3D sensor market in a positive manner.

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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This release was published on openPR.