Pune, India, April 02, 2019 (GLOBE NEWSWIRE) -- As per Market Research Future (MRFR)’s latest study, the rapid breakthroughs in technology have reduced the size of processors and microchips, making it possible for the masses to gain its advantage. The penetration of smartphones and laptops capable of understanding tactile and haptic gestures are able to accomplish this thanks to 3D sensors. Some of the well-known sensors are Kinect, Asus Xtion, and Intel RealSense.
Market Scope
The global 3D sensor market is projected to reach a size of USD 5.49 billion by 2023, growing at a CAGR of 27.69% from 2017 to 2023 (forecast period), according to a new report by Market Research Future (MRFR). The expansion of 3D technology is the major driver of the market. The healthcare sector is the biggest advocate of 3D sensors, with the technology finding application in medical imaging. The preference by radiologists and clinicians to rely on these techniques for faster and accurate diagnosis can drive the 3D sensor market over the forecast period.
The emergence of robotics and stereo vision are new avenues which can open up growth opportunities for the market. The need for sensing in gaming and security applications is projected to bolster research and development among industry leaders. But high costs of these devices can hamper the market.
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Competition Analysis
Prominent market players include Microsoft Corporation, Intel Corporation, Qualcomm, Inc., Occipital, Inc., PMD Technologies AG, Microchip Technology, Cognex Corporation, Infineon Technology, LMI Technologies, and ASUSTek Computer Inc. Partnerships and agreements are abound in the highly competitive industry. Applications of augmented and virtual reality have created the fervor among enthusiasts to develop the best performing headset and capture the market share. Recently, Qualcomm has partnered with Himax Technologies to develop 3D depth-sensing cameras which has application in surveillance, 3D rebuilding, and biometric face identification.
Segmentation Analysis
The global 3D sensor market is segmented by technology, sensor type, and application.
By technology, the market is segmented into stereo vision, projected light sensor, time of flight sensors, and ultra sound. The stereo vision segment can touch a valuation of USD 2.142 billion by 2023, growing at a 25.83% CAGR during the forecast period.
By sensor type, the market is segmented into acoustic sensor, image sensor, accelerometer sensor, and others. The image sensor segment is expected to generate earnings close to USD 2.57 billion by 2023. The segment is predicted to accrue revenue at a 31.18% CAGR throughout the assessment period.
Major applications include healthcare, logistics, automotive, industrial, consumer electronics, aerospace & defense, and others. The consumer electronics segment is predicted to touch a value of USD 1.20 billion by the end of the forecast period. This is exemplified by the integration of 3D sensors in the latest offering of the iPhone by Apple. The sensor stores the image of the user using stereopsis and creates a depth map and uses the same to enhance the security of the phone user.
Regional Analysis
Regions taken under consideration with respect to the 3D Sensor Market include the North America, the Europe, Asia Pacific, and Rest-of-the-World (RoW).
The North America region is expected to dominate the global 3d sensors market, followed by APAC and Europe. Presence of various technical experts coupled with numerous 3D sensor manufacturers are likely to augur its market demand during the forecast period. Canada and the U.S. are the biggest revenue generators of the North America 3D sensor market.
The APAC region is the second largest revenue generator owing to the adoption of 3D sensors across medical, gaming, and consumer electronics. China, Japan, and India possess the market potential to drive its regional market growth during the forecast period. The rising consumption of consumer electronic devices coupled with home assistant devices is expected to bode well for the market.
The Europe 3d sensor market can display a strong CAGR during the assessment period thanks to rapid developments in artificial intelligence.
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Industry News
Vayyar Imaging, a premier in 3D sensors, has developed sensors which can penetrate through walls. This will be a pivotal development for consumers looking for high-end security solutions in their homes. Furthermore, the capacity of these sensor to detect multiple people within a room using their faces, thermal signatures, and temperatures. The sensor can revolutionize applications in broadband, cable, and smart homes.
Automation in manufacturing has been implemented to expedite the production flow. FANUC, a developer of robotics and computer numerical control (CNC) machines, has developed an area sensor for its robots which can recognize objects easily and play a major role in reducing the expenses of companies.
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