New York, USA, July 06, 2021 (GLOBE NEWSWIRE) -- The global 3D sensor market is projected to grow at a 28.0% CAGR and surpass a revenue of $11,276.8 million by 2026. The market is categorized considering type, end use, and region. The report provides insights on drivers, opportunities, restraints, segments, and top players of the market.
Dynamics of the Market
Increasing adoption of technologies like augmented reality and virtual reality in the gaming sector is creating huge investment opportunities in the global 3D sensor market. Increasing popularity of smart devices and demand from electronics are important aspects driving the growth of 3D sensor market.
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The market is also predicted to witness surge in growth due to the usage of 3D technologies in the manufacturing plants, consumer electronics, automotive sector, and healthcare. All these sectors use 3D sensors for improving biometric sensing on the phones, enabling safety, and detecting liabilities in electronic products. Such factors are projected to flourish the 3D market in the estimation period.
On the other hand, the high cost of implementing 3D sensor technology is predicted to hinder the growth of the global market. However, popularity of virtual reality and augmented reality in gaming is developing opportunities in the market.
By Type, Image Sensors to Dominate the Industry
Under type, the market is further divided into image sensor, position sensor, accelerometer sensor, and others. The image sensor sub-segment garnered the highest revenue in 2018 and is envisioned to grow at 29.2% CAGR during the forecast period. The sub-segment is predicted to gain $4,475.5 million revenue by 2026, as a result of growing adoption smart cameras and mobile phones.
By End-Use, Consumer Electronics Segment to Generate Highest Revenue
Considering end use, the market is further categorized into healthcare, consumer electronics, automotive, aerospace & defense, and others. The consumer electronics sub-segment garnered $351.5 million in 2018 and is expected retain the growth throughout the forecast period. This is mainly due extensive use of 3D sensors in computers, cameras, mobile phones, remote controllers, and others.
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Asia Pacific Region to Create Great Investment Opportunities for Market Players
As per regional analysis, the global market was investigated in North America, Europe, Asia Pacific, and LAMEA.
The 3D sensor market in Asia-Pacific is projected to be growing at a CAGR of 28.8% and garner a revenue of $3,067.3 during the forecast period. There has been a rise in the demand for 3D sensors in several end-use industries such as automotive, healthcare, electronics, and others.
Major Market Players
The strong players in the global 3D sensor market are -
- Sony Depthsensing Solutions SA/NV
- OmniVision Technologies, Inc.
- COGNEX CORPORATION
- KEYENCE CORPORATION
- Microchip Technology Inc.
- Infineon Technologies AG
- LMI TECHNOLOGIES INC.
- pmd technologies ag
- Qualcomm Technologies, Inc.
- SAMSUNG
- Occipital, Inc.
These market players are focusing more on new product launches, R&D activities, and technology advancements to enhance the market size of the global market. For instance, in January 2021, LMI Technologies (LMI), the global leader in 3D inline scanning and inspection, announced that it has completed the acquisition of FringeAI, an innovative AI and IIoT/5G inspection company based in Boston, Massachusetts.
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