Rockville, Nov. 21, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR’s recently published report, the global smartphone LiDAR market is estimated at US$ 1.63 billion in 2022 and is forecasted to expand rapidly at a CAGR of 17.8% during the forecast years 2022-2030. The market is poised to grow due to remarkable penetration of advanced smartphones across the world.
Smartphones incorporating depth sensors have just been introduced into the consumer market. For iOS smartphones, these sensors were marketed as 'LiDAR scanners', and for Android devices, they were marketed as 'time-of-flight depth (ToF) cameras'. These sensors were first used to enhance photo quality (such as the bokeh effect, better camera focus, etc.) and to enable augmented reality applications; however, they proved to be appropriate for scientific uses as well.
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The technological transformation taking place in smartphones with the adoption of 5G mobile network technology and the rise of technology in improving smartphone performance will lead to ubiquitous integration of Augmented Reality (AR) and Virtual Reality (VR).
Apple's inclusion of LiDAR sensors in its products has been a significant step in LiDAR market growth. LiDAR is a pulsed laser that operates at nanosecond speeds and produces 3D models more accurately than a simple camera. The fact that Apple had finally integrated its own ToF sensor was a surprise to many when the company unveiled the fourth-generation iPad Pro in 2020.
Apple has been giving augmented reality a higher priority, starting with the 2020 iPad Pro. Apple's LiDAR Scanner is more improved as compared to 3D ToF sensors because it maps the area point by point, reducing the amount of noise received and producing a 3D point cloud that is more accurate.
Key Takeaways from Market Study
- The global smartphone LiDAR market is projected to expand at an impressive CAGR of 17.8% to be valued at US$ 6.05 billion by 2030.
- The global market stood at a valuation of US$ 642.6 million in 2021.
- The market is estimated to grow 3.7X over the assessment period.
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Market Development
The business atmosphere in smartphone LiDAR continues to reflect rollup within the industry, despite difficult economic conditions. To gain a larger customer base in the market, prominent manufacturers are employing different strategies and focusing on cost-cutting methods.
- For instance, Apple acquired numerous relevant technology firms, including those that specialize in motion capture, facial recognition, audio recognition, computer vision, and eye movement tracking. This will help Apple to generate more revenue from smartphone LiDAR.
Similar investments are being made by big smartphone manufacturer such as Samsung and BBK Electronics to gain some market share.
Competitive Landscape
iPhone procures LiDAR sensors for its models from prominent market players such as Sony and LGIT.
- E-Con system, a leading camera company, launched a combination of Time-of-Flight (ToF) cameras with ToF depth sensors for object identification and depth measurement.
- For next-generation devices to perceive and comprehend the world in three dimensions, depth sensing is a crucial feature. With Samsung's ISOCELL's pixel technology and high resolution, the sensor can precisely distinguish objects from the background.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global smartphone LiDAR market, presenting current and forecast statistics for the period of 2022-2032.
The study reveals essential insights across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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Table of Content
1. Present State of the Industry and Analyst Verdict
1.1. LiDAR and Edge computing: Where do smartphones go next?
1.2. LiDAR on a Phone – a New Way to Capture 3D Data
1.3. How LiDAR is Changing the Smartphone Industry Landscape
1.4. The Megapixel and Optical Zoom Wars in Smartphone Makers
2. Building Blocks for Research
2.1. Research Methodology
2.2. Current Uses of LiDAR in The Geospatial Industry
2.3. LiDAR, the new laser eye for mobile phones
2.4. How LiDAR Improving The Interaction of The Devices with the Environment
2.5. Smartphone Assisted Fieldwork: Towards the Digital Transition of Geoscience Fieldwork Using LiDAR-Equipped Smartphones
3. Market Snapshot
3.1. Industry Development Tracking: Evolution over the years
3.2. Technology Roadmap: 3D Sensing Disrupt the Smartphone Industry Market
3.3. Market Standing and Available Opportunities
3.4. Scenario Based Market Projection
TOC Continues…
Check out more related studies published by Fact.MR Research:
LiDAR Market - As of 2022, the global LiDAR market stands at a valuation of US$ 1.9 billion and is estimated to surge to US$ 6.29 billion by the end of 2032. LiDAR demand is projected to rise rapidly across the world at a CAGR of 12.6% between 2022 and 2032. Mobile & UAV LiDAR, terrestrial LiDAR stations, and aerial LiDAR systems are all expected to witness high demand across the forecast period as technology advances and the scope of application increases.
LIDAR Sensor Market - The global LiDAR sensor market size is expected to expand at an impressive CAGR of 12.5% over the forecast period of 2021 to 2031, especially with these sensors becoming more compact and cheaper. LiDAR is an active remote sensing technology that utilizes laser (light amplification by stimulated emission of radiation), which uses optical amplification based on the stimulated emission of electromagnetic radiation, instead of conventional microwaves and radio technology.
3D Radar Market - The global 3D radar market garnered a market value of US$ 16.57 Billion in 2022 and is expected to accumulate a market value of US$ 54.76 Billion by registering a CAGR of 12.7% in the forecast period 2022-2032. Growth of the 3D radar market can be attributed to increasing war situation across the globe. The market for 3D radar registered a CAGR of 13% in the historical period 2017-2021.
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