Press release
Transformative Trends Impacting the Time-Of-Flight (TOF) Sensor Market Landscape: Innovative Products Propel Time-Of-Flight Sensor Market Growth
Time-Of-Flight (TOF) Sensor
How Large Will the Time-Of-Flight (TOF) Sensor Market Size By 2025?
The time-of-flight (tof) sensor market size has grown rapidly in recent years. It will grow from $3.89 billion in 2024 to $4.64 billion in 2025 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to automation in industrial processes, growth of 3d imaging applications, rise in demand for biometric authentication, medical imaging applications, demand for energy-efficient sensors, increasing integration in smartphones.
How Big Is the Time-Of-Flight (TOF) Sensor Market Size Expected to Grow by 2029?
The time-of-flight (TOF) sensor market size is expected to see rapid growth in the next few years. It will grow to $8.79 billion in 2029 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to increased deployment in smart cities, continued growth of wearable devices, expansion of e-commerce and warehousing, integration in gaming and entertainment, development of smart retail solutions. Major trends in the forecast period include gesture recognition and human-machine interaction, advancements in sensor technology, iot connectivity, ar/vr devices, robotics and automation, automotive lidar development.
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Which Key Market Drivers Powering Time-Of-Flight (TOF) Sensor Market Expansion and Growth?
Increasing utilization of camera-based driver monitoring sensors in the automotive industry is expected to propel the growth of the time-of-flight (ToF) sensor market going forward. The automotive industry refers to companies involved in the manufacturing of automobiles such as trucks, buses, and motorcycles and their components, such as engines and bodies. In the automotive industry, ToF sensors are used for obstacle detection, localization, and picking or placing objects and can be used for driver-monitoring systems (DMS) to monitor drowsiness and driver fatigue with eye gaze, head pose, and blink detection, as a result, increasing application of these sensors in the automotive industry increases the demand for the time-of-flight (ToF) sensor market. For instance, in November 2022, according to EE Times, a U.S.-based electronics industry magazine, more than half of the total number of vehicles produced would be equipped with camera-based DMS by 2029. Therefore, the increasing utilization of camera-based driver monitoring sensors in the automotive industry is driving the growth of the time-of-flight (ToF) sensor market.
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Which Fast-Growing Trends Are Poised to Disrupt the Time-Of-Flight (TOF) Sensor Market?
Product innovation is a key trend that is gaining popularity in the time-of-flight (ToF) sensor market. Major companies operating in the market are focused on research and development for product innovations to sustain their position in the market. For instance, in January 2022, TDK Corporation, a Japan-based electronic components, and devices company, launched the Chirp ICU-10201 and ICU-20201, high-performance ultra-low power integrated ultrasonic time-of-flight sensors for short- and long-range detection. The Chirp ICU-10201 and ICU-20201 are integrated with powerful on-chip processors with high computational power. This strengthens processing capabilities and allows a wide range of application algorithms to fit and run on-chip. These sensors are capable of providing accurate range measurements to targets up to 1.2 m and 5m away respectively. Additionally, it can measure distance in any lighting condition and provides millimeter-level accuracy, independent of the target's color and optical transparency.
What Are the Emerging Segments in the Time-Of-Flight (TOF) Sensor Market?
The time-of-flight (TOF) sensor market covered in this report is segmented -
1) By Type: RF-Modulated Light Sources With Phase Detectors, Range-Gated Imagers, Direct Time-Of-Flight Imagers
2) By Application: Augmented Reality And Virtual Reality, Lidar, Machine Vision, 3D Imaging And Scanning, Robotics And Drone
3) By End-User: Automotive, Consumer Electronics, Gaming And Entertainment, Industrial, Healthcare, Aerospace And Defense
Subsegments:
1) By RF-Modulated Light Sources With Phase Detectors: Continuous Wave (CW) Modulation, Pulsed Modulation
2) By Range-Gated Imagers: Single-Photon Avalanche Diode (SPAD) Sensors, Time-Correlated Single Photon Counting (TCSPC) Systems
3) By Direct Time-Of-Flight Imagers: Single-Channel ToF Cameras, Multi-Channel ToF Cameras
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Who Are the Global Leaders in the Time-Of-Flight (TOF) Sensor Market?
Major companies operating in the time-of-flight (TOF) sensor market include Texas Instruments Incorporated, STMicroelectronics NV, Infineon Technologies AG, Panasonic Corporation, Teledyne Technologies Incorporated, Keyence Corporation, pmdtechnologies ag, Sharp Corporation, Sony Group Corporation, Melexis NV, ams-OSRAM AG, Broadcom Inc, Omron Corporation, Renesas Electronics Corporation, Adafruit Industries LLC, ESPROS Photonics Corporation, Terabee, Lucid Vision Labs Inc, BECOM Electronics GmbH, SparkFun Electronics Inc, Chirp Microsystems Inc, MikroElektronika d, Sentric Controls Sdn Bhd, Quanergy Systems Inc, Balluff Inc, Iris-GmbH Infrared & Intelligent Sensors, Pololu Corporation, TDK Corporation, Rockwell Automation Inc, Advanced Scientific Concepts LLC
Which are the Top Profitable Regional Markets for the Time-Of-Flight (TOF) Sensor Industry?
Asia-Pacific was the largest region in the time-of-flight (ToF) sensor market in 2024. The regions covered in the time-of-flight (TOF) sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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