Depth Sensing Market Continues to Surge, Predicted to Hit US$ 16.1 Billion by 2032

The global depth sensing market size reached US$ 10.3 billion in 2022. Over the next ten years (2022 and 2032), global depth sensing demand is forecast to surge at 4.5% CAGR. Accordingly, by the end of 2032, the global market valuation will reach US$ 16.1 billion.

Camera/lens module segment currently dominates the global depth sensing industry. Between 2022 and 2032, the target segment is likely to expand at 4.4% CAGR.

Rising demand for smartphones and developments in augmented reality (AR) and virtual reality (VR) will drive the market. Subsequently, growing usage of depth sensing in automotive and defense sectors will boost sales.

Depth sensing is being used in a wide variety of applications. The most prominent application is in the development of AR/VR technology and in-camera modules of smartphones. It is also being used for people counting and navigation systems for unmanned robotic vehicles.

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With smartphone manufacturers developing better facial recognition and gesture control, demand for smartphones will rise significantly. This will boost the global depth sensing industry.

Along with being used in smartphones, depth sensing finds application in autonomous/self-driving cars. It enables the car to perceive the depth of the surroundings along with the speed, position, and distance of the nearby objects.

Depth sensing technology also finds application in defense & military sectors. It is used by military for surveillance and monitoring enemy activities. Hence, growing adoption across defense & military industry will elevate depth sensing demand.

Developments in AR and VR have led to an increase in their popularity and implementation within the gaming industry. Growth of gaming and smartphone industries will create lucrative growth opportunities for depth sensing companies.

Key Takeaways from the Depth Sensing Market Report:

The global depth sensing industry will thrive at 5% CAGR during the projection period.

By component, camera/lens module segment is likely to expand at 4% CAGR through 2032.

By technology, time of flight segment will rise at 3% CAGR between 2022 and 2032.

The United States depth sensing market is forecast to cross US$ 2.2 billion mark by 2032.

Depth sensing demand in Japan will increase at 8% CAGR over the next decade.

China depth sensing industry is forecast to reach around US$ 4.3 billion by 2032.

Sales in South Korea market are set to surge at 1% CAGR over the next ten years.

Leading Key Players:

Qualcomm, Intel
Sony
Infineon Technologies
Texas Instruments
Creative Technology Ltd.
Stereolabs
Pmdtechnologies AG
Become Bluetechnix GmbH
Espros Photonics Corporation

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Global Depth Sensing Market Segmentation:

By Type:

Active Depth Sensing
Passive Depth Sensing

By Technology:

Stereo Vision
Structured Light
Time of Flight

By Component:

Camera/Lens Module
Sensor
Illuminator

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa (MEA)

Nandini Singh Sawlani
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This release was published on openPR.