3D Sensors Market Revenue to Cross US$ 30,875.8 Million by 2028: The Insight Partners

Latest market study on “Global 3D sensor Market to 2027 – Analysis and Forecasts by Technology (Stereo Vision, Time-of-Flight, Structured Light); End-User Verticals (Healthcare, Aerospace, Industrial, Automotive, Consumer Electronics, Others), The global 3D sensor market is accounted to US$ 4,805.7 Mn in 2018 and is expected to grow at a CAGR of 32.5% during the forecast period 2019 – 2027, to account to US$ 71,914.2 Mn by 2027. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

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Under the end-user vertical industry segment, a large number of new applications are coming up in the market due to speedy technological advancements. These technologies are now offering huge opportunities across different industry verticals, such as automotive, defense, healthcare, aerospace, robotics, electronics consumables, semiconductors, and retail, where 3D sensors can be used. Companies are now creating partnerships and increase their collaborative efforts to bring more 3D applications.

Stereo 3D imaging is being used to reconstruct soft tissue structures in 3D in the healthcare vertical. 3D biosensors in clinical applications help in diagnosing and monitoring cardiovascular diseases, cancer, and diabetes. One of the major technological advancements in 3D technology is Time-of-Flight (TOF) technology. These sensors are one of the most crucial and essential components of the current market technologies as these provide solutions to the entire defense ecology. The solutions include complicated controls, measurements, monitoring, and execution. The automotive market has always been at the forefront when it comes to technological evolution. These sensors allow safety innovations, new cargo management efficiency and safety improvements of autonomous and self-driving vehicles. 3D ToF technology is used in sensing. This sensor is a major breakthrough in technology. It is a deep sensing technology that enhances the capacity of a camera to recognize faces and objects.  

Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘3D Sensors Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

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Increased Demand for Smart Consumer Electronics

The consumer electronics industry is witnessing immense growth in both developed and developing countries, and advancements and smart features that are offered by the manufacturing companies have been the major contributors to this growth.

Currently, various consumer electronics devices are used by individuals for a plethora of tasks. Consumer electronics such as smartphones, tablets, PCs, TVs, washing machines, fridge, and music players have become integral part of routine lives. All these devices are becoming smarter with the ongoing technological advancements and integration of Internet of Things (IoT) and Artificial Intelligence (AI). The advancements in the sensor technology has paved the way for remarkable growth of IoT and AI in most of the technological arenas including the automotive sector. The market for consumer electronics devices is constantly growing with the manufacturers coming up with advanced technologies and features in their devices on a regular basis and rising disposable incomes of users in the developed and developing economies.

Some of the prominent smartphone manufacturers have pioneered the integration of 3D ToF sensors into their smartphone models. Leading global smartphone manufacturers such as Huawei, Samsung, Oppo, LG, and Apple are the pioneers in the integration of 3D ToF sensors into various models. Huawei P30 Pro, Samsung Galaxy S10 5G, Oppo RX17 Pro, Honor View 20, LG G8 ThinQ, and iPhone 2020 models have integrated or have planned to integrate the 3D ToF sensors into the models.

The List of Companies: 3D Sensors Market

The market for the global 3D sensor is concentrated with some very well-established players. Some of the key players in the global 3D sensor market include Infineon Technologies AG, Basler AG, Omnivision Technologies, Inc., Ams AG, Cognex Corporation, LMI Technologies INC., Stmicroelectronics N.V., IFM Electronic gmbh, Sony, Melexis among others.

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The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

2019: AMS AG introduces a new ASV technology product portfolio that enables manufacturers of consumer, computing and industrial products to implement face recognition and other 3D sensing applications more easily and at a lower cost. Based on extensive 3D experience, ams has added Active Stereo Vision technology products to the portfolio to address additional and different 3D sensing applications as well as reach lower price points in the mobile segment. Also, AMS AG announced its partnership with Smart sense Technology, with this partnership AMS further expands its portfolio of three 3D technologies such as Time-of-Flight (ToF), active Stereo Vision (ASV), and Structured Light (SL) as well as accelerating time to market its new products.

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