New York, USA, March 09, 2020 (GLOBE NEWSWIRE) -- As per a report published by Research Dive, the global 3D sensor market is set to rise at a 28.0% CAGR and is anticipated to generate a revenue of $11,276.8 million throughout the period of forecast from 2019 to 2026. The market has been segmented on the basis type, end use, and region. The report provides detailed insights on vital segments, drivers, opportunities, restraints, and top gaining players of the market. As per our analysts, growing adoption of smart devices and demand from electronics are significant factors driving the growth of 3D sensor market. Increasing the popularity for augmented reality and virtual reality in the gaming is creating the huge growth opportunities in the global 3D sensor market. However, the high cost associated with the 3D sensor technology is predicted to hamper the growth of the global market.
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Image Sensors to Continue their Dominance in the Industry
Based on type, the global 3D sensor market is segmented position sensor, image sensor, accelerometer sensor, and others. The market size for image sensor accounted for highest revenue in 2018, and is estimated to grow at 29.2% CAGR during the forecast period. The market will surpass $4,475.5 million revenue by 2026, owing to the increasing adoption of mobile phones and smart cameras. On the other hand, the accelerometer sensor type is expected to experience significant growth with a rising growth rate of 28.6%. This segment is estimated to generate a revenue of $2,187.7 million by the end of 2026.
Consumer Electronics Segment to Generate Highest Revenue
Based on end use, the global 3D sensor market is segmented into consumer electronics, healthcare, aerospace & defense, automotive, and others. The market size for consumer electronics segment accounted for $351.5 million, and is expected to continue its dominance throughout the forecast period. This is mainly due to the wide range usage of 3D sensor in cameras, computers, remote controllers, mobile phones, and others. Along with consumer electronics segment, the automotive segment is projected to garner a revenue of $2,311.7 million during the period of forecast.
Asia Pacific Region to Create Huge Opportunities for Market Players
Geographically, the global 3D sensor market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific 3D sensor market is likely to grow at a CAGR of 28.8% and is projected to generate a revenue of $3,067.3 million by the end of 2026. This is majorly due to the increase in the demand for 3D sensors from various end users such as electronics, healthcare, automotive, and others. The North America region dominated the 3D sensor market size in 2018, and is expected to surpass $3540.9 million during the period of forecast.
Major Market Players
The prominent players of the global 3D sensor market include
- pmd technologies ag
- Infineon Technologies AG
- SAMSUNG
- LMI TECHNOLOGIES INC.
- COGNEX CORPORATION
- Microchip Technology Inc.
- Occipital, Inc.
- Qualcomm Technologies, Inc.
- KEYENCE CORPORATION
- OmniVision Technologies, Inc.
- Sony Depthsensing Solutions SA/NV.
These market players are focusing more on technology advancements, new product launches, and R&D activities to enhance the market size of the global market.
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