The global 3D sensor market is predicted to see striking growth during the forecast period, due to the rising demand for electronics all across the globe. Regionally, the North America region is expected to have the largest share of the market.
PORTLAND, Ore., Feb. 15, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "3D Sensor Market by Type (Image Sensor, Accelerometer Sensor, Position Sensor, and Others), Technology (Structured Light, Time of Flight, Stereoscopic Vision, Ultrasound, and Others), Connectivity (Wireless and Wired), and End Use (Consumer Electronics, Healthcare, Aerospace & Defense, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2031".
According to the report, the global 3D sensor market is envisioned to generate a revenue of $56,992.3 million and rise at a healthy CAGR of 13.0% during the analysis timeframe from 2022 to 2031.
Dynamics of the 3D Sensor Market
With the increasing use of smart devices and the growing demand for electronics all across the world, the 3D sensor market is expected to observe significant growth throughout the forecast period. Moreover, the rising demand for better vision and virtual reality in the gaming sector are the major factors that are expected to create wide investment opportunities during the analysis period. However, the high cost of sensors may hinder the growth of the market over the estimated timeframe.
Covid-19 impact of the 3D Sensor Market
Though the outbreak of the Covid-19 pandemic has devastated several other industries, it has had a positive impact on the 3D sensor market. This is mainly due to the increasing demand for 3D consumer electronics globally during the pandemic period. However, the market has experienced a sudden shift in product availability due to the sudden shutdown of product development operations by leading manufacturers.
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Segments of the 3D Sensor Market
The report has divided the market into segments based on type, technology, connectivity, end-use, and region.
- By type, the image sensor sub-segment is expected to be productive and is expected to hold the largest share of the market over the estimated period. The increasing use of image sensors in a wide variety of applications such as robot guidance, biological image analysis, and many more are expected to bolster the growth of the market during the analysis period.
- By technology, the stereoscopic vision sub-segment is predicted to be the most profitable and is expected to have the fastest growth during the forecast timeframe. The rising use of stereoscopic imaging platforms to collect images through triangulation, and image processing software is expected to bolster the growth of the market over the estimated period.
- By connectivity, the wireless sub-segment is expected to be most beneficial and is predicted to hold the highest share of the market throughout the analysis timeframe. The rising use of 3D sensors in the defense sector for various applications is predicted to upsurge the growth of the market segment during the forecast period.
- By end-use, the consumer electronics sub-segment is predicted to be the most lucrative and is expected to hold the maximum share of the market during the estimated period. The rising demand for more sophisticated features in consumer electronics products and the advancement of AI technology are the factors expected to uplift the growth of the market over the analysis timeframe.
- By region, the North America region of the 3D sensor market is predicted to hold the largest share of the market throughout the forecast timeframe. The rising use of IoT in smart homes, businesses, and smart cities across the region is expected to drive the regional growth of the market during the analysis timeframe.
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Key Players of the Market
The major players in the 3D sensor market include
- Microchip Technology Inc.
- Qualcomm Technologies, Inc.
- Occipital, Inc.
- Cognex Corporation
- Keyence Corporation
- Lmi Technologies Inc.
- Omnivision Technologies, Inc.
- Samsung
- Infineon Technologies Ag
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.
For instance, in December 2022, VoxelSensors, a Belgium-based creator of active event sensor technologies used in augmented and mixed reality announced its collaboration with OQmented, a leader in MEMS-based AR/VR display and 3D sensing solutions. With this collaboration, the companies aimed to focus on the integration and commercialization of a high-performance 3D perception system for AR/VR/MR and XR devices.
Further, the report also presents other crucial aspects including SWOT analysis, the product portfolio, the financial performance of the key players, and the latest strategic developments.
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More about 3D Sensor Market:
- Applications of 3D Sensors in the 3 Most Crucial Sectors in the World
- 3D Sensor: Different Types and Impact of COVID-19 on the Industry
- The Role of AI Empowered 3D Sensors in Different Industries
- 3D Sensor Market to Observe Significant Growth Due to Product Launches and Strategic Partnerships by Market Players, such as Infineon Technologies, LMI Technologies, and Others
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