3D sensor Market Outlook Trend, Size, Share, Growth and Forecast till 2022-2030

3D sensor market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the 3D sensor market by region.

The global 3D sensor market is expected to reach the valuation of USD 5.49 Billion by the year 2023, growing at 27.69% CAGR during the forecast period 2017-2023.

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market 3D sensor.

Global 3D sensor Market, by Technology (Light Sensor, Stereo-Vision, Time of Flight Sensors & Ultra Sound), by Sensor Type (Acoustic, Accelerometer, Image & Others), By Applications (Industrial, Automotive, Logistic, Aerospace & Defense, Consumer Electronics, Healthcare) - Forecast 2023

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Market Analysis

Medical imaging is highly utilized in different medical divisions including magnetic resonance imaging, radiography, nuclear medicine, elastography, ultrasound, photoacoustic imaging, echocardiography, tomography, magnetic particle imaging and functional near-infrared spectroscopy. Numerous technological innovations like multi detector CT scanners are currently getting adopted in the 3D imaging technologies, among the radiologists and the physicians, for performing timely treatments and accurate diagnosis. The 3D imaging comes with display systems that are being highly adopted in the ophthalmology department due to the growing number of micro surgeries that are being performed. The 3D imaging is also adopted in the field of robotics, which is considered to be one of the fastest-moving applications. With the help of this, detection in the position of the 3D space objects is done. The global 3D sensor market is expected to reach the valuation of USD 5.49 Billion by the year 2023, growing at 27.69% CAGR during the forecast period 2017-2023.

Apart from the application in the robotics, the 3D imaging systems is now targeting different applications, including product profiling, object tracking, sheet of light applications, 3D x-ray imaging and time-of-flight applications. Nevertheless, the growing utilization of the 3D sensing technology in different gaming applications and growing requirement for surveillance and security is enabling the growing demand for the 3D enabled devices. However, on the other hand, increasing cost of maintenance and the complex process of device integration is expected to restrict the development of the 3D sensor market during the forecast period 2017-2023.

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Market Segmentation

The global 3D sensors market is classified on the basis of its technology, application, sensors type and regional demand. Based on its technology segment, the global market is divided into projected light sensor, time of flight sensors, stereo-vision, and ultrasound. The 3D sensor is again divided on the basis of its application which includes industrial, logistic, automotive, aerospace and defense, healthcare, consumer electronics, and others. Based on its sensor type, the 3D sensor market is bifurcated into acoustic sensor, image sensor, accelerometer sensor, among others.

Regional Analysis

Geographically, the global 3D sensors market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Major Players

The prominent industry players in the 3D sensor market are - Cognex Corporation (U.S), Qualcomm, Inc. (U.S), Microsoft Corporation (U.S), Intel Corporation (U.S), PMD Technologies AG (Germany), ASUSTek Computer Inc, (Taiwan), Infineon Technology (Germany), Occipital, Inc. (U.S), Microchip Technology (Chandler, Arizona), LMI Technologies (Canada), among others.

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What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

Factors Influencing

The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has affected almost every industry. The market witnessed a significant decline in investments, mainly in the energy and power sector. According to the estimations by the International Energy Agency, investments in the energy and power domain are projected to decrease by 10% in 2020 as compared to the pre-pandemic statistics. This indicate the condition of global marketplace along with severe challenges faced during pandemic.

Regional Analysis

Asia-Pacific market is forecast to emerge as rapidly growing region in global market, owing to governments' initiatives towards increasing urbanization and growing population leading to increasing demand of energy-based products and services. Also, North America is forecast to grow rapidly because of high energy consumption in the region and technological advancements across the sector. Energy consumption has been increasing in the region, mainly in the US; the primary energy consumption is segmented on the basis of nuclear electric power, petroleum, coal, renewable energy, and natural gas. The petroleum and natural gas segment is dominating the overall sector. In the mix of energy sources, petroleum accounts for around 35% of the overall consumption, whereas natural gas accounts for 34%.

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