3D Sensor Market Size Projected to Generate Revenue of $56,992.3 Mn by 2031Download Sample Reports Overview
The global 3D sensor market share is predicted to be valued at $56,992.3 million by 2031, surging from $17,607.90 million in 2021, at a CAGR of 13.0%.
Impact Analysis of COVID-19 on 3D Sensor Market
The COVID-19 pandemic is expected to have a detrimental influence on the global 3D sensor industry. To halt the global spread of the coronavirus, various countries around the world imposed strict lockdowns, travel and transportation restrictions, and social gathering bans. Several enterprises in the 3D sensing sector were forced to cease technology development operations or shut down manufacturing capabilities due to a lack of staff and raw component availability. Therefore, the supply of 3D sensor equipment like drones and cameras has fallen dramatically.
However, post-pandemic, several initiatives launched by various companies are helping their business to recover from the pandemic. For instance, in February 2021, Sony used the industry-first single-photon avalanche diode (SPAD) pixels to create a stacked direct Time of Flight (dToF) depth sensor for vehicle LiDAR. The International Solid-State Circuits Conference (ISSCC) announced this accomplishment.
Global 3D Sensor Market Analysis
Increase in the need for medical imaging solutions is a significant factor expected to drive the market expansion. Other major drivers of the 3D sensor market growth include an increase in the usage of image sensors in automobiles and an increase in demand for security and surveillance systems. Furthermore, the 3D sensor market share is expected to witness tremendous growth due to an increase in demand for 3D sensing technology in virtual and augmented reality in gaming consoles.
An increase in consumer acceptance of wearable technology, a rise in demand for 3D sensor-equipped consumer electronics devices, an increase in demand for surveillance cameras and advanced security, and technological advancements in 3D sensors due to ongoing R&D activities are all contributing to the growth of the global 3D sensor market. In consumer electronics, 3D depth-sensing technology is used to measure three-dimensional objects or sceneries. This technique is gaining acceptance in consumer electronics, notably in smartphones and tablets for facial recognition. Smartphones' 3D depth sensors function as high-quality 3D scanners.
Global 3D Sensor Market, Segmentation
The 3D sensor market share is segmented on the basis of type, technology, connectivity, end use, and region.
The type segment is further classified into image sensor, accelerometer sensor, position sensor, and others. Among these, the image sensor segment is anticipated to have a dominant market share by 2031. The market for 3D sensor has grown quickly owing to the adoption of smartphones and cameras with new functionalities due to the CMOS 3D sensors' use in consumer electronic products.
The technology segment is further divided into structured light, time of flight, stereoscopic vision, ultrasound, and others. Among these, the structured light segment is anticipated to have a dominant market share by 2031. Structured light scanning is a 3D scanning system that use a single light source to project numerous lines on an object, all of which are tracked concurrently by a camera or cameras. A laser scanner, on the other hand, emits several laser dots on the object one after the other.
The connectivity segment is further classified into wireless and wired. Among these, the wireless segment is anticipated to have a dominant market share by 2031. The use of 3D wireless sensor networks (3D-WSN) in various disciplinary fields, including target identification, object tracking, and security monitoring, is expected to drive the 3D sensor market share in the future.
The end use segment is further divided into consumer electronics, healthcare, aerospace & defense, automotive, and others. Among these, the consumer electronics segment is anticipated to have a dominant market share by 2031. The consumer electronics industry is growing as a result of the increase in consumer demand for more advanced features in consumer electronics devices, thus, escalating manufacturer competition and the development of AI technology.
The 3D sensor market in Asia-Pacific is projected to witness the fastest growth during the forecast time. An increase in demand for 3D sensors from a variety of end users, including automotive, electronics, healthcare, and other industries, is expected to drive global 3D sensor market size in the future.
Key Players in Global 3D Sensor Market
Some of the leading 3D sensor market players are
- Infineon Technologies Ag
- Lmi Technologies Inc.
- Cognex Corporation
- Microchip Technology Inc.
- Occipital, Inc.
- Qualcomm Technologies Inc.
- Keyence Corporation
- Omnivision Technologies Inc.
In August 2022, the 3D printed sensors for cables were created by MIT scientists. This is also the first time that plasma sensors for orbiting spacecraft have been built entirely digitally. These plasma sensors, also known as retarding potential analyzers (RPAs), are used by satellites to evaluate the chemical composition and ion energy distribution of the atmosphere.