Farmington, March 15, 2023 (GLOBE NEWSWIRE) -- The global Time Of Flight (TOF) Sensors Market size was valued at USD 3.28 Billion in 2022. It is expected to reach USD 13.93 Billion by 2030, growing at a CAGR of 17.44% during the forecast period 2022–2030. In the future years, the accessibility of 3D scanning technology will increase its demand. Time-of-flight is an active 3D imaging and scanning technology that, along with biometric authentication, is anticipated to establish a new trend in TOF sensor demand. Face recognition integrating a time-of-flight sensor is necessary for secure authentication or payment in the modern world. At CES 2020, companies such as Infineon will collaborate with software and 3D Time of Flight systems expert PMD Technologies AG to demonstrate 3D depth sensors for biometric face authentication and enhanced photo capabilities in smart devices.
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Machine vision systems are becoming increasingly popular in a variety of industries, which is propelling market expansion. Sensory systems for more general machine vision applications must be extremely stable and dependable. ToF cameras enhance the durability and adaptability of a variety of surveillance, inspection, and logistics systems by providing accurate depth data sets. Applications such as automated materials handling (AMH) systems require more precise measurements of 1 to 5 mm at moderate distances of 1 to 3 meters. For full-field imagers that are cascaded through modulation elements and integrated with correlated ToF architectures, the preference for single-pixel ToF imagers is gaining significant traction. In machine vision cameras, Sony's DepthSense sensors are anticipated to dominate the market and create new opportunities.
Time Of Flight (TOF) Sensors Market Recent Developments:
- August 2022 - Berlin-based startup Industrial Analytics is acquired by Infineon Technologies AG. Infineon is strengthening its artificial intelligence software and services business to perform predictive analytics on machinery and industrial equipment. Infineon is acquiring all outstanding shares. The value of the transaction is not disclosed by agreement between the parties.
- September 2022 - Surgical endoscopy systems with 4K, 3D, infrared (IR) imaging of the stomach and surgical visualization capabilities such as NBI were developed by Sony Corporation, Olympus Corporation, and a joint venture between Sony and Sony Olympus Medical Solutions Inc. . Olympus, three companies announced today (Narrow Band Imaging). After September 2022, Olympus will sell this system as "VISERA ELITE III" in Europe, Middle East and Africa (EMEA) and select regions of Asia, Oceania and Japan.
Time Of Flight (TOF) Sensors Market Dynamics:
Market Drivers:
The growing use of machine vision systems in various industries
With Time-of-Flight (ToF), the camera transmits an infrared signal, measures the time it takes for the signal to return, and then uses this information to calculate depth. ToF cameras and sensors can use a single laser pulse to precisely measure distance. Due to their precision, ToF camera sensors have become prevalent in a variety of industries and applications. ToF cameras are advantageous for augmenting 3D imaging and augmented reality because they can measure distance and volume. Using 3D ToF imaging technology, object scanning, indoor navigation, gesture recognition, and obstacle avoidance can be enhanced. Due to its benefits, 3D ToF imaging technology has a promising future.
Market Restraints:
Unwanted reflection
ToF sensors have a variety of applications and disadvantages. Due to the prospect of light being reflected multiple times when using ToF sensors in corners and concave shapes, these characteristics can result in unwanted reflections and reduce measurement precision. Due to the fact that ToF sensors require light to be introduced only once for their size, highly reflective surfaces in close proximity may result in artifacts and undesired reflections. ToF cameras are difficult to use in direct sunlight. This is due to the fact that concentrated sunlight can quickly saturate sensor pixels, preventing them from detecting light reflected from objects.
Market Opportunities:
Increasing use of premium smartphones
The high-end smartphone market is adopting Time-of-Flight (ToF) camera sensors in response to the expanding demand for 3D face mapping for features such as face unlock on smartphones. In the Honor View 2.0, for instance, the 48-megapixel sensor and ToF camera collaborate to optimize portrait mode images. The smartphone brand Honor is owned by Huawei Technologies. LG and Samsung are integrating technology that improves the depth perception of mobile phone cameras. ToF sensors are installed in both the front and rear cameras. The new ISOCELL Vizion 33D from Samsung is a ToF 3D sensor that can monitor moving objects and provide accurate distance information, in addition to faster autofocus and bokeh video effects.
Regional Outlook:
Asia-Pacific is the largest contributor to the global flight hours market, which is anticipated to expand at a CAGR of 18.26% over the forecast period. China is anticipated to retain the majority of the ToF sensor market due to the country's abundance of consumer electronics manufacturing facilities and smartphone brands. China is anticipated to be the global leader in AI technology by 2022, with a significant component of its expanding sector adopting AI-powered cameras. Initiatives of the Chinese government, such as the Made in China 2025 initiative, promote R&D and investments in industrial automation and technology. The "Made in China" initiative aims to increase domestic production of automation equipment, the majority of which is currently imported.
During the forecast period, North America is expected to generate USD 3.7 billion at a CAGR of 17.04%. The United States is one of the most technologically advanced nations and commands a considerable share of the global TOF sensor market. In addition, the country is home to a large number of multinational corporations that invest significantly in smart production methods and process automation, which are crucial factors driving the expansion of the TOF sensor market. Regional prosperity is recognized as the creation of new products by local suppliers. The area is continually cutting-edge. Direct Time-of-Flight (ToF) technology, for instance, is anticipated to be included in iPhone models of the next generation and could supplant the current Face ID component. Due to this, the space required for the crevice should be decreased.
Europe is one of the largest auto markets in the world, and very few high-tech new vehicles are sold without safety features like ADAS. To advance their technology, numerous German manufacturers are investing in Taiwan's semiconductor industry. By 2021, it is anticipated that the total ADAS market in Europe will reach approximately $5.56 billion, with Germany accounting for a significant portion of this figure.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 17.44% from 2023 to 2030 |
| Market Size in 2022 | USD 3.28 Billion |
| Revenue Forecast by 2030 | USD 13.93 Billion |
| By Type |
|
| By Applications |
|
| By Companies | Texas Instruments, STMicroelectronics, PMD Technologies, Infineon, PrimeSense (Apple), MESA (Heptagon), Melexis, Intersil, Canesta (Microsoft), Espros Photonics, TriDiCam, Broadcom Limited, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Time Of Flight (TOF) Sensors Market Key Segments Covered:
Top Market Players:
Texas Instruments, STMicroelectronics, PMD Technologies, Infineon, PrimeSense (Apple), MESA (Heptagon), Melexis, Intersil, Canesta (Microsoft), Espros Photonics, TriDiCam, Broadcom Limited, and Others.
By Type:
- RF-Modulated Light Sources
- Range Gated Imagers
- Direct Time-Of-Flight Imagers
By Application:
- Automotive
- Industrial
- Healthcare
- Smart Advertising
- Entertainment
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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