According to a report, the global 3D sensor market is anticipated to attain a value of US$ 2.5 billion by 2022 and is projected to grow at a compound annual growth rate (CAGR) of over 26.0%, reaching approximately US$ 9.0 billion by 2032. The growth of the market is expected to be propelled by the growing utilization of 3D sensors in different sectors like automotive and media & entertainment.
The well-established sensor sector is expanded by 3D sensors. One dynamic technology that is appropriate for a wide range of applications, including consumer electronics, industrial robots, security & surveillance, healthcare, and automotive, is 3D sensing.
Due to the growing acceptance of gesture applications and effective product handling across several industrial sectors, the electronics industry offers significant potential for 3D sensors. The global 3D sensor market uses cutting-edge technologies and has enormous potential going forward. Due to its appealing qualities including cost effectiveness, higher dependability, and high efficiency, 3D sensor technology has played a significant part in the evolution of the semiconductor industry.
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The research provides a detailed analysis of the major trends and growth drivers that are expected to affect the industry in the years to come. Over the projection period, the technology industry is anticipated to experience a strong rise due to the adoption of cloud computing and artificial intelligence. The growth forecast for the 3D Sensor market in the future ten years is projected to be improved by rising competitive pressure and advanced digital transformation in data analytics and artificial intelligence.
Changes in consumer behaviour, robust product innovations, and growing distribution networks continue to have an impact on the growth of the 3D sensor market, according to the FMI analysis. The 3D Sensor market report’s experts at FMI depend on original research techniques and in-depth data analysis to identify existing and upcoming trends.
Impact of COVID-19 on 3D Sensor Market
With the onset of COVID-19, there has been a significant impact on the technology sector. Disruptions of electronic supply-value chain and raw material supply have adversely impacted the technology industry. However, there has been a positive impact on the industry with the adoption of remote working. Rapid focus on integrating digital techniques and big data analytics in IT services and technology industry are expected to result in a healthy outlook.
FMI’s recently published report has a chapter exclusively dedicated to COVID-19 impact analysis. This is intended to aid 3D Sensor market stakeholders in deploying innovative strategies to overcome the challenges that are likely to affect the 3D Sensor market.
Market Competition
Some of the key participants present in the global 3D sensor market include Infineon Technologies AG, Cognex Corporation, LMI Technologies Inc., SOFTIKINETIC, Optima S.A., ifm Efector, Inc., Occipital, Inc., ASUSTeK Computer Inc. and Panasonic Corporation among others.
The global 3D sensors market is highly competitive in nature with leading market players constantly upgrading their product portfolios. They are aiming at developing innovative solutions that can even penetrate through sold obstacles like walls.
3D Sensor Market: Drivers and Restraints
Global 3D sensor market is expected to witness lucrative growth during the forecast period. Factors which are driving the growth of global 3D sensor market are advancement into sensor technology due to constant R&D activity, increasing demand of 3D sensor equipped consumer electronics devices, growing consumer acceptance of wearable electronic devices, increasing demand of 3D sensing games and rising need of advanced security and surveillance camera.
On the other hand, few factors are restraining the growth of global 3D sensor market such as lack of product differentiation, heavy maintenance cost and limited manufacturing excellence. However due to various market opportunities such as developing retail and media applications and integration of nanotechnology with 3D sensors in a range of application is expected to boost the global 3D sensor market.
Key Segments Profiled in the 3D Sensor Industry Survey
Product Type:
- Position Sensors
- Pressure Sensors
- Image Sensors
- Temperature Sensors
- Others
Technology:
- Structured Light
- Ultrasound
- Stereo Vision
- Time of Flight Technology
Application:
- Consumer Electronic Application
- Medical Application
- Automotive application
- Industrial Application
- Media & Entertainment Application
- Aerospace & Defence Application
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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