Market Synopsis
The global 3D sensor market is estimated to grow from USD 1,123.5 million in 2017 to USD 4,807 million by 2023, with a CAGR of 28% during the forecast tenure of 2018-2023.
Recently, the 3D sensors gained credibility due to their capability to identify the shape, size, and distance of an object or object within its range of vision. Along with this, gaming has gained popularity due to the emergence of AR and VR. With the Xbox Kinect, 3d sensing technology has become more famous. The increasing inclination towards gaming and AR are the major factors driving the growth of the global 3D sensor technology. Similarly, the growing demand for efficient VR has resulted in the introduction of several 3D devices, 3D portable devices, 3D TV displays, 3D desktop PCs, and notebooks. The presence of 3D content is rising in step with the increasing demand for 3D enabled devices and thereby expanding the market. Moreover, the growing demand for security and inspection is also adding to the market growth as 3D sensors are majorly used in the cameras.
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Market Segmentation
Global 3D Sensor Technology Market is segmented on the basis of region, end-user, type, and technology.
On the basis of region, the segment is classified into Asia Pacific, Europe, North America and the Rest of the World (RoW).
On the basis of end-user, the segment is classified into aerospace and defense, healthcare and medical devices, industrial, consumer electronics, automotive, logistics.
On the basis of type, the segment is classified into accelerometer, image sensor, Acoustic sensor, and others.
On the basis of technology, the segment is classified into time-of-flight, Projected light/structured light, stereo vision, and ultrasound.
Key Players
Some of the distinguished 3D sensing companies are Xovis AG (Switzerland), Sony Corporation (Japan), Texas Instruments Incorporated (US), Qualcomm Technologies Inc. (US), Microsoft Corporation (US), Microchip Technology, Inc. (US), Occipital Inc. (US), ams AG (Austria), Finisar Corporation (US), ST Microelectronics NV (Switzerland), Infineon Technologies AG (Germany), Intel Corporation (US), Texas Instruments Incorporated (US), ASUSTeK Computer Inc. (Taiwan), Cognex Corporation (US), and others. These are the significant distinguished 3D sensing companies competing on the grounds of affordability, reliability, efficiency, solutions offered, and advanced technology.
Regional Segmentation
The 3D sensing technology is expanded across Asia-Pacific, North America, and the Rest of the World (Row). Asia Pacific regions held the maximum market share of 35.9% in 2017 and achieved a market value of USD 403.5 million. The global 3D market is estimated to register the highest CAGR of 31.2% during the review period. North America held the second position in 2017 with a market value of USD 332.1 million.
The expansion in the Asia-Pacific region is driven by the rising adoption of 3D sensors for transportation, consumer electronics, automobiles, logistics, medical devices. The credibility of connected equipment, along with the adoption of object detection devices for security solutions, is estimated to propel the market expansion.
North America is estimated to experience considerable growth in the 3D sensing technology due to the presence of major competitors such as Microchip Technology, Inc., Microsoft Corporation, Intel Corporation. Additionally, the market was the first and the earliest one to adopt the AR/VR technology, IoT, and connected devices. It has led to the growth of the North American region in 3D sensor markets.
The European market is experiencing a huge demand for 3D sensing technology for gaming applications and smart homes. The UK has adopted a large number of smart homes coupled with industrial robots, which has made a significant contribution to the demand for 3S sensors in the European market.
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