Smartphone Lidar Market is Anticipated to Reach US$ 6.05 Billion by 2030

The global smartphone LiDAR market was valued at US$ 1.63 billion in 2022, and by the end of 2030, it is anticipated to grow quickly-at a CAGR of 17.8%. Sales of smartphone LiDAR are anticipated to increase 3.7X over the following eight years due to the increased prevalence of sophisticated smartphones.

Smartphones are being merged with new technologies like 5G mobile network technology and edge computing at the current stage of technological development. New possibilities for digital elevation modelling will result from this. The quality of phone cameras will ultimately improve with the development of a Metaverse environment, which is trending from smartphone improvements to 5G, and edge computing with AI.

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The technological transformation taking place in smartphones with the adoption of 5G mobile network technology and the rise of technology in improving smartphone performance will lead to ubiquitous integration of Augmented Reality (AR) and Virtual Reality (VR).

Apple's inclusion of LiDAR sensors in its products has been a significant step in LiDAR market growth. LiDAR is a pulsed laser that operates at nanosecond speeds and produces 3D models more accurately than a simple camera. The fact that Apple had finally integrated its own ToF sensor was a surprise to many when the company unveiled the fourth-generation iPad Pro in 2020.

Apple has been giving augmented reality a higher priority, starting with the 2020 iPad Pro. Apple's LiDAR Scanner is more improved as compared to 3D ToF sensors because it maps the area point by point, reducing the amount of noise received and producing a 3D point cloud that is more accurate.

Key Takeaways from Market Study:

• The global smartphone LiDAR market is projected to expand at an impressive CAGR of 17.8% to be valued at US$ 6.05 billion by 2030.
• The global market stood at a valuation of US$ 642.6 million in 2021.
• The market is estimated to grow 3.7X over the assessment period.

Competitive Landscape:

iPhone procures LiDAR sensors for its models from prominent market players such as Sony and LGIT.
• E-Con system, a leading camera company, launched a combination of Time-of-Flight (ToF) cameras with ToF depth sensors for object identification and depth measurement.
• For next-generation devices to perceive and comprehend the world in three dimensions, depth sensing is a crucial feature. With Samsung's ISOCELL's pixel technology and high resolution, the sensor can precisely distinguish objects from the background.
Fact.MR has provided detailed information about the price points of key manufacturers in the smartphone LiDAR market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

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Market Development:

The business atmosphere in smartphone LiDAR continues to reflect rollup within the industry, despite difficult economic conditions. To gain a larger customer base in the market, prominent manufacturers are employing different strategies and focusing on cost-cutting methods.

• For instance, Apple acquired numerous relevant technology firms, including those that specialize in motion capture, facial recognition, audio recognition, computer vision, and eye movement tracking. This will help Apple to generate more revenue from smartphone LiDAR.
Similar investments are being made by big smartphone manufacturer such as Samsung and BBK Electronics to gain some market share.

Questionnaire answered in the Market outlook Report of Smartphone LiDAR include:

• What is the key strategy deployed by large players to maximize Smartphone LiDAR growth?
• What are the main challenges faced by players in the Smartphone LiDAR Demand?
• With the advent of technological advancement, how will the Smartphone LiDAR landscape change over the forecast period?
• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Smartphone LiDAR size?

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This release was published on openPR.