The global 3D sensors market is expected to witness notable growth during the forecast period, owing to its increasing demand in the automotive industry. The image sensors sub-segment is expected to be the most lucrative. North America region is expected to dominate the global market during the analysis period.
New York, USA, October 26, 2021 (GLOBE NEWSWIRE) – According to the report published by Research Dive, the global 3D sensors market Is expected to generate revenue of $ 11,276.8 million by 2026, growing rapidly at a CAGR of 28.0% during the forecast period (2019-2026). The inclusive report provides a brief overview of the current market scenario including significant market aspects such as growth drivers, challenges, restraints, and various opportunities over the forecast period. The report also provides all the market figures which makes it easier and easier for new entrants to understand the market.
Conductors: The growing demand for 3D sensors in consumer electronics and the increasing prevalence of 3D sensors in the automotive industry are expected to drive the market growth during the forecast period. In addition, the increasing use of 3D sensors in augmented reality, mapping and biometric sensors is expected to further boost the market growth by 2026.
Constraints: The exorbitant cost of 3D sensing technology is expected to hamper the market growth during the forecast period.
Opportunities: The innovative technological advancements in 3D sensors are expected to create massive opportunities for the growth of the 3D sensors market in the coming years.
The report has divided the market into different segments based on type, end use, and region.
Type: Image sensor sub-segment must be the most cost effective
The Image Sensors sub-segment is expected to grow exponentially with a 29.2% CAGR during the forecast period. The increasing use of 3D image sensors in smart cameras and smart phones is expected to drive the growth of the sub-segment during the forecast period.
End use: Consumer electronics sub-segment will be the most lucrative
The Consumer Electronics sub-segment generated sales of $ 351.5 million in 2018, and is expected to grow further gradually over the forecast period. The growing demand for PCs, laptops, smartphones, cameras, etc. Advances among the people across the globe is expected to accelerate the growth of the 3D sensors market during the forecast period.
Region: North America is expected to dominate the market
The North American 3D sensors market is expected to generate revenue of $ 3,540.9 million during the forecast period. Extensive use of 3D sensors in industries like electronics and automotive in this region is expected to propel the market growth. In addition, the increasing demand for improved image excellence and facial recognition sensors in smartphones among the people living in this region is expected to further increase the growth of the regional market during the forecast period.
Key players in the 3D sensors market
Major market players include –
Infineon Technologies AG
Sony Depthsensing Solutions SA / NV
Qualcomm Technologies, Inc.
LMI Technologies Inc.
Microchip Technology Inc.
OmniVision Technologies, Inc.
These players work on developing strategies such as product development, mergers and acquisitions, partnerships and collaborations to support market growth.
For example, in May 2021, Lumentum, a leading manufacturer of innovative optical and photonic products; Ambarella, an innovative silicon company for AI vision; and ON Semiconductor, a Leading Provider of Complementary Metal Oxide Semiconductor (CMOS) Image Sensor Solutions, Collaborated to Facilitate AI Processing-Based 3D Sensing for Advanced Next-Generation AIoT Devices .
The report also summarizes many important aspects including financial performance of key players, SWOT analysis, product portfolio and latest strategic developments.
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