Wilmington, Delaware, United States, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global 3D sensing technology market was projected to attain US$ 2.1 billion in 2022. It is anticipated to garner a 17.6% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 8.9 billion by 2031.
In the automobile industry, three-dimensional scanning is widely used for a variety of purposes, including as product development and design, quality assurance, crash analysis and safety testing, personalization and customisation, and maintenance and repair.
Vehicles are equipped with depth perception sensors, which provide depth information by measuring the distance between the sensor and objects in the field of vision. 3D sensing technology is used to create immersive virtual reality experiences with depth detecting cameras, Lidar sensors, structured light sensors, Time-of-Flight (ToF) sensors, and eye tracking systems.
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Key Findings of the Market Report
- 3D sensing technology in game consoles uses depth-sensing cameras, such as ToF sensors or structured light systems, to provide better experiences.
- The need for 3D sensing technology for facial identification in smartphones is fueled by these sensors, which provide gesture control, precise motion tracking, and facial recognition.
- By combining virtual and augmented reality, 3D imaging technology enhances user experience.
- The market value of 3D sensing technology is being influenced by the rise in popularity of gaming consoles among teens and young people.
Market Trends for 3D Sensing Technology
- Some of the main industrial applications of 3D sensing technologies for quality control include dimensional inspection, surface defect identification, assembly verification, tooling inspection, and non-destructive testing. Since 3D sensing technology offers complete data for urban planning and administration, it is essential to the development of smart cities.
- Planning for infrastructure, waste management, smart lighting, environmental monitoring, public safety, and augmented reality navigation are all made possible by this technology.
- Emerging nations are proposing smart city development initiatives because of their increasing industry and urbanization. Therefore, the income from the 3D sensing technology market is increasing due to an increase in government efforts and approvals for smart city development projects.
- The market statistics for 3D sensing technology are being enhanced by the rise in demand for self-driving automobiles and advancements in sophisticated navigation systems.
Global 3D Sensing Technology Market: Key Players
The use of virtual reality, augmented reality, the Internet of Things (IoT), and robots in the automotive, healthcare, and industrial sectors enables manufacturers to deploy revolutionary sensors.
Prominent companies in the sector are forming alliances to expand their product line into international markets and strengthen their brand presence. In addition, they are introducing new services to better satisfy customer needs and device compatibility. The following companies are well-known participants in the global 3D sensing technology market:
- ams-OSRAM AG
- Infineon Technologies AG
- PMD Technologies AG
- STMicroelectronics N.V.
- Texas Instruments Incorporated
- Coherent Corp.
- Lumentum Operations LLC
- Himax Technologies, Inc.
- Intel
- Sony Depthsensing Solutions
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Global Market for 3D Sensing Technology: Regional Outlook
- In 2022, the North America market dominated the world market. The 3D sensing technology industry share is expected to grow over the projected period due to the rise in consumer electronics demand and technical developments in the automotive sector.
- Smartphones using 3D sensing technologies provide better navigation, user interfaces, facial recognition, and biometric security. Thus, the growing need for smartphones is driving the market's advancement. In the United States, for example, 310 million individuals own cellphones.
- The market for 3D sensing technology is expanding as a result of developments in automotive technology. In order to improve the driving experience and add cutting-edge features, local automakers are utilizing 3D sensors in their cars.
Key developments by the players in this market are:
- In August 2022, ams OSRAM AG, a global pioneer in intelligent sensors and emitters, introduced a 2.2Mpixel global shutter visible and Near-Infrared (NIR) image sensor. This sensor provides the low-power and small size needed in the newest 2D and 3D sensing systems for smart glasses, drones, virtual reality (VR) headsets, and other consumer and industrial applications.
- In order to facilitate the adoption of 3D sensors for smart infrastructure, Senet, Inc., a low power wide area network provider, and Iota Communications, Inc., a top provider of wireless communication and software, teamed up in July 2022 to deliver LoRaWAN through IotaComm's 800 MHz FCC-licensed spectrum and 915 MHz unlicensed spectrum network connectivity.
Global 3D Sensing Technology Market Segmentation
Technology
- Stereoscopic Vision
- Structured Light Pattern
- Time of Flight
- Ultrasound
Sensor Type
- Pressure Sensors
- Image Sensors
- Gyro Sensors
- Proximity Sensors
- Others
End User
- Consumer Electronics
- Media & Entertainment
- Automotive
- Security & Surveillance
- Industrial
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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