New York, USA, July 27, 2022 (GLOBE NEWSWIRE) -- According to Research Dive’s newly published report, the global 3D sensor market is predicted to grow at a tremendous CAGR of 28.0%, thereby garnering a revenue of $11,276.8 million in the 2019-2026 timeframe. This holistic report provides an overarching overview of the nature of the 3D sensor market including its main characteristics like growth drivers, growth opportunities, restraints, and hindrances in the 2019-2026 timeframe. The report also contains all the necessary and essential market figures to help new entrants gain an insight into the nature and working of the market.
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Dynamics of the 3D Sensor Market
Drivers: Increasing adoption of smart devices by people all across the globe is predicted to be the primary growth driver of the 3D sensor market. Furthermore, growing integration of 3D sensor technologies with the technologies that are prevalent in various sectors of automotive engineering, healthcare, etc. is expected to boost the market further.
Opportunities: The consumer electronics industry has been one of the biggest users of 3D sensors as a result of which the demand for these sensors has increased exponentially. This increase in demand is predicted to offer massive growth opportunities to the market in the coming years. Additionally, the growing demand for 3D sensors from automotive sector is anticipated to augment the growth opportunities to the market.
Restraints: High costs of 3D sensors, however, might restrict the growth of the 3D sensor market.
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Segments of the 3D Sensor Market
The report has divided the market into certain segments based on type, end use, and region.
Type: Accelerometer Sensor Sub-Segment to Witness Substantial Growth
By type, accelerometer sensor sub-segment is predicted to witness substantial growth in the forecast period. The growth in demand for accelerometer sensors, especially from the consumer electronics sector, is predicted to help the sub-segment grow in the forecast period.
End Use: Automotive Sub-segment to Flourish Immensely
By end use, the automotive sub-segment of the 3D sensor market is expected to experience a great surge in the growth rate during the forecast timeframe. Increasing adoption of 3D sensing technology, along with development of new technologies such as advanced driving assistance systems (ADAS) which employ advanced 3D sensors are expected to be the two main factors behind the growth of this sub-segment.
Region: 3D Sensor Market in Asia-Pacific Region to be Highly Lucrative
By regional analysis, the 3D sensor market in the Asia-Pacific region is projected to become a highly lucrative market by 2026. Massive demand for 3D sensors from developing countries such as India and China, and the expansion of automotive, consumer electronics, healthcare sectors in the Asia-Pacific region is predicted to boost the market in this region substantially.
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Prominent 3D Sensor Market Players
Some prominent market players of the 3D sensor market are
- pmdtechnologies ag
- LMI TECHNOLOGIES INC.
- Occipital, Inc.
- KEYENCE CORPORATION
- Infineon Technologies AG
- COGNEX CORPORATION
- Qualcomm Technologies, Inc.
- SAMSUNG
- OmniVision Technologies, Inc.
- Sony Depthsensing Solutions SA/NV, among others.
These players are formulating numerous business strategies like mergers, acquisitions, and collaborations to get a commanding position in the market. – Buy the Full Report here
For instance, in July 2020, Ams, a leading Austrian high-tech systems and equipment provider, announced the acquisition of Osram Licht AG, a German high-tech photonics company. The acquisition was done by Ams keeping in mind its already existing 3D sensing portfolio. With this acquisition, Ams has added laser and LED products to its existing 3D sensors segment.
Finally, this report also offers many vital facets of the 3D sensor market including latest strategic developments, SWOT analysis, financial performance of the key players, and product portfolio.
More about 3D Sensor Market:
- Global 3D Sensor Market to Create Huge Growth Opportunities for the Market Players in the Coming Years
- The Role of AI Empowered 3D Sensors in Different Industries
