The global 3D sensor market is expected to reach US$ 2.5 billion in 2022. The overall market is expected to grow at a CAGR of more than 26.0 percent, reaching around US$ 9.0 billion by 2032. The market is expected to be driven by the increasing adoption of 3D sensors across various industries such as automotive and media & entertainment.
3D sensor is an extension of existing well established sensor market. 3D sensing is considered as one of the dynamic technology which is suitable for various applications such as healthcare, automotive, consumer electronics, industrial robotics, and security & surveillance etc.
Electronics industry has strong potential for 3D sensor due to increasing acceptance of gesture applications and efficient product handling across different industrial verticals. Global 3D sensor market involves latest technologies and holds great potential in near future. The 3D sensor technology has major role in growth of semiconductor industry because of its attractive features such as cost effectiveness, greater reliability and high efficiency
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The report presents an in-depth analysis of key growth drivers and trends that are likely to impact the market in upcoming years. With the adoption of cloud computing and artificial intelligence, the technology industry is expected to witness a healthy growth over the forecast period. Increasing competitive pressure and advanced digital transformation in the area of data analytics and artificial intelligence are likely to improve the growth outlook for the 3D Sensor market in the upcoming decade.
According to the FMI’s report, Changes in consumer behavior, robust product innovations, and expanding distribution networks continue to influence growth of the 3D Sensor market. FMI’s analysts rely on unique research methods and comprehensive data study of the current and upcoming trends of the 3D Sensor market report and gather data from a wide range of primary and secondary sources.
Impact of COVID-19 on 3D Sensor Market
With the onset of COVID-19, there has been a significant impact on the technology sector. Disruptions of electronic supply-value chain and raw material supply have adversely impacted the technology industry. However, there has been a positive impact on the industry with the adoption of remote working. Rapid focus on integrating digital techniques and big data analytics in IT services and technology industry are expected to result in a healthy outlook.
FMI’s recently published report has a chapter exclusively dedicated to COVID-19 impact analysis. This is intended to aid 3D Sensor market stakeholders in deploying innovative strategies to overcome the challenges that are likely to affect the 3D Sensor market.
Some of the key participants present in the global 3D sensor market include Infineon Technologies AG, Cognex Corporation, LMI Technologies Inc., SOFTIKINETIC, Optima S.A., ifm Efector, Inc., Occipital, Inc., ASUSTeK Computer Inc. and Panasonic Corporation among others.
The global 3D sensors market is highly competitive in nature with leading market players constantly upgrading their product portfolios. They are aiming at developing innovative solutions that can even penetrate through sold obstacles like walls.
3D Sensor Market: Drivers and Restraints
Global 3D sensor market is expected to witness lucrative growth during the forecast period. Factors which are driving the growth of global 3D sensor market are advancement into sensor technology due to constant R&D activity, increasing demand of 3D sensor equipped consumer electronics devices, growing consumer acceptance of wearable electronic devices, increasing demand of 3D sensing games and rising need of advanced security and surveillance camera.
On the other hand, few factors are restraining the growth of global 3D sensor market such as lack of product differentiation, heavy maintenance cost and limited manufacturing excellence. However due to various market opportunities such as developing retail and media applications and integration of nanotechnology with 3D sensors in a range of application is expected to boost the global 3D sensor market.
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Key Segments Profiled in the 3D Sensor Industry Survey
• Position Sensors
• Pressure Sensors
• Image Sensors
• Temperature Sensors
• Structured Light
• Stereo Vision
• Time of Flight Technology
• Consumer Electronic Application
• Medical Application
• Automotive application
• Industrial Application
• Media & Entertainment Application
• Aerospace & Defence Application