Press release
Depth Sensing Market projected to reach USD 6.24 Billion by 2026, growing at a CAGR of 11.96% from 2019 to 2026.
According to Verified Market Research, the Global Depth Sensing Market was valued at USD 2.57 Billion in 2018 and is projected to reach USD 6.24 Billion by 2026, growing at a CAGR of 11.96% from 2019 to 2026.
Depth sensing technology is defined as a process of using a depth sensor device in order to measure the distance to an object. With the help of this depth sensing technology, any target that can be a line, dots, even a collection of dots making an area can be measured easily. 3D depth sensors, also known as 3D cameras or 3D scanners are the devices that are used for generating depth information from a certain scene by measuring the distance between the sensor and objects in front of it. This technology has so far been used mainly for industrial applications, but many smartphone companies such as Apple is on the cusp of bringing it to the consumer market that will be a potential factor for driving significant changes in how people interact with devices in their daily life.
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Global Depth Sensing Market Overview
At present, the latest smartphones launched in the market are coming up with the integrated depth sensing technology in the form of 3D cameras. This feature of smartphones can sense movements while taking pictures and enhance the picture quality. The integration of a 3D camera could be the first step toward a new generation of enhanced HMI (Human Machine Interface). Face recognition feature will likely be a significant application driving the adoption of 3D sensing in the smartphones. Thus, rising adoption of dual-camera smartphones along with accelerating smartphone market is expected to drive the depth sensing market.
Moreover, the growing application of depth-sensing technology in AR-VR gaming in order to maintain a sense of presence in reality as well as virtually will also contribute in boosting the market for depth sensing. On the other hand, the high initial cost of manufacturing modules might hinder the overall market for dep at a global level.
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Global Depth Sensing Market: Segmentation
The global depth sensing market is segmented on the basis of component, technology, type, industry, and geography. On the basis of component, the market is bifurcated into Camera/Lens Module, Sensor and illuminator.
The market for the sensor is expected to grow at the highest CAGR over the forecast period. The sensor contains a monochrome CMOS sensor and infrared projector that help in creating the 3D imagery. The sensor is able to determine the depth of the subject through the processing of the displacement of the dots and creates a depth map. This component of the depth sensor has the most scope for variation in terms of capability and is a key factor in the determination of the overall quality of a depth sensor as it plays a large role in the accuracy of the end product.
Global Depth Sensing Market By Geography
On the basis of regional analysis, the Global Depth Sensing Market is classified into North America, Europe, Asia Pacific and Rest of the world. The depth sensing market in the Asia Pacific region is projected to grow at the highest CAGR followed by North America over the forecast period.
The major players in the market are Qualcomm, Intel, Sony, Infineon Technologies, Texas Instruments, and Creative Technology Ltd.
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