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3D Sensing and Imaging Market to be Worth $115.3 Billion by 2030
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Increasing Adoption of Liquid Lenses for Better Vision is Expected to Drive the Growth of the 3D Sensing and Imaging Market
The main benefits of liquid lenses are their flexibility to be used in several applications simultaneously, which is especially useful in high-volume production environments where different-sized objects are used. For example, a pharmaceutical company may use machine vision inspection for different capsules, pills, and soft gels. With traditional lenses, there would be a need for several image systems to be set up to inspect each product, or one image system would have to constantly have the depth of focus changed. Different object distances can be programmed into the imaging system, eliminating the need to stop production and change the depth of focus or set up for several imaging systems. This benefit of flexibility drives the demand for liquid lenses in various industrial applications.
The 3D sensing and imaging market is segmented by type, technology/modality, application, and end-use industry. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, the 3D sensing and imaging market is segmented into 3D sensing and 3D imaging. In 2023, the 3D imaging segment is expected to account for the larger share of the global 3D sensing and imaging market. The growth of this segment is attributed to the increasing adoption of cloud-based 3D imaging solutions and the rising demand for 3D image sensors from industries, including media & entertainment, architecture and construction, and archaeological studies. However, the 3D sensing segment is projected to register the highest CAGR during the forecast period.
Based on technology/modality, the 3D sensing and imaging market is segmented into LiDAR, stereoscopic imaging/vision, time-of-flight (ToF), structured light, laser triangulation, radar, ultrasound, x-ray, and other technologies. In 2023, the LiDAR segment is expected to account for the largest share of the global 3D sensing & imaging market. The large market share of this segment is attributed to the rapid growth of automated driving vehicles, the rising adoption of UAVs, and a surge in the need for better geospatial solutions that provide essential information for reliable object detection and collision avoidance by generating precise 3D images of the vehicle. However, the structured light segment is expected to record the highest CAGR during the forecast period.
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Based on application, the 3D sensing & imaging market is segmented into security & surveillance, mapping & imaging, industrial automation, medical imaging, navigation, scanning, surveying, and other applications. In 2023, the security & surveillance segment is expected to account for the largest share of the global 3D sensing & imaging market. The large market share of this segment is attributed to the rising need for 3D imaging mobile surveillance, the increasing implementation of 3D LiDAR cameras to secure various temporary and remote sites, such as construction sites, storage areas, and parking areas, and the growing need for innovative outdoor remote security applications. However, the security & surveillance segment is also expected to record the highest CAGR during the forecast period.
Based on end-use industry, the 3D sensing and imaging market is segmented into automotive, transportation & logistics, consumer electronics, defense & aerospace, healthcare, manufacturing & warehouses, media & entertainment, architecture, engineering & construction, and other end-use industries. In 2023, the consumer electronics segment is expected to account for a share of the global 3D sensing and imaging market. The growth of this segment is mainly attributed to the rising adoption of smartphones, cameras, and laptops due to the growth in per capita income, remote work trend, and changing consumer lifestyles. However, the healthcare segment is projected to register the highest CAGR during the forecast period.
Based on geography, the 3D sensing and imaging market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global 3D sensing & imaging market. The major factors driving the market's growth are the rising demand for 3D sensing optical technologies such as face recognition, facial payments, and augmented/virtual reality in various sectors, including healthcare, a surge in demand for virtualized solutions in robotics, and high adoption of advanced technologies to ensure the security of remote areas. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.
Key Players
The key players operating in the 3D Sensing and imaging market are STMicroelectronics N.V. (Switzerland), Infineon Technologies AG (Germany), Microchip Technology Inc. (U.S.), Viavi Solutions Inc. (U.S.), Rockwell Automation, Inc. (U.S.), KEYENCE CORPORATION (Japan), Suteng Innovation Technology Co., Ltd. (China), Autodesk Inc. (U.S.), Cognex Corporation (U.S.), OMNIVISION Technologies, Inc. (U.S.), SICK AG (Germany), Panasonic Holdings Corporation (Japan), Sony Group Corporation (Japan), Lumentum Holdings Inc. (U.S.), FARO Technologies, Inc. (U.S.), Occipital, Inc. (U.S.), LMI Technologies Inc. (Canada) (A Subsidiary of TKH Group N.V.), Trimble Inc. (U.S.), and Balluff GmbH (Germany).
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Key questions answered in the report-
Which are the high-growth market segments based on type, technology/modality, application, and end-use industry?
What was the historical market for 3D sensing and imaging technologies?
What are the market forecasts and estimates for the period 2023-2030?
What are the major drivers, restraints, opportunities, and challenges in the 3D Sensing and imaging market?
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