Worldwide depth sensing market is expected to grow from USD 3.87 billion in 2017 to USD 7.43 billion by 2023, at a CAGR of 11.64% during the forecast period.
Worldwide depth sensing market is expected to grow from USD 3.87 billion in 2017 to USD 7.43 billion by 2023, at a compound annual growth rate (CAGR) of 11.64% during the forecast period. Depth sensing process involves measuring the distance of an object relative to a particular viewpoint using depth sensors. Depth sensing is done using two types of methods which includes passive methods and active methods. Stereo vision is used in passive depth sensing method while Time-of-Flight (ToF) and structured light is used in active depth sensing method. Structured light provides best depth accuracy performance; however, it has the shortest depth sensing range whereas ToF depth sensing range depends on emitting power of the light source. Depth sensors work by projecting a set of patterns onto the object using an optical 3-D scanning method (as in structured light) or by obtaining travel-time information by measuring the delay or phase-shift of a modulated optical signal for all pixels in the scene (as in ToF). Increasing demand for depth sensors in applications such as augmented reality and virtual reality, gesture control, and face recognition, are fueling the growth for depth sensing across the globe. The global depth sensing market is growing at a significant pace, owing to factors such as increase in use of depth sensing technology in gaming applications and due to the rise in need for enhanced security and surveillance systems among end-users. Moreover, increasing application of depth-sensing techniques in smartphones to enable facial detection, recognition, and authentication are expected to propel the demand for depth sensing during the forecast period. However, the high costs of the depth sensors and the necessity of perfect angle for stereo depth sensing technology are some factors affecting the market growth and are expected to hamper the global depth sensing market in the years to come.
Depth Sensing Market
Source: MRFR Analysis
By Component, the market is segmented into camera or lens module, sensors and illuminator.
By Type, the market is segmented into active and passive depth sensing.
By Technology, the market is segmented into stereo vision, structured light and time of flight.
By Vertical, the market is segmented into automotive, industrial, consumer electronics, medical and others.
By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world
The global market for depth sensing market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of depth sensing market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
APAC is expected to dominate the market owing to the increasing demand for depth sensing in consumer electronics applications which include smartphones, tablets, and gaming headsets. North America is also expected to see significant growth during the forecast period due to the increased proliferation of video content and gaming and rise in demand for 3D imaging technology across the region.
Companies in the depth sensing market include established players and some emerging startups working in the depth sensing technology contributing a major share in the market. Product portfolio expansion is one major organic strategy that the companies in the depth sensing market adopt. Apart from this, exhaustive research and development process is done by companies to improve their product range. Also, to explore new avenues and gain an edge in the market, the key players undertake inorganic startegies such as mergers, partnerships, joint ventures and aqusitions of emerging companies to expand their operations and offerings to better target potential customers.
The prominent players in the depth sensing market are Texas Instruments (US), Intel (US), Qualcomm (US), Stereolabs (US), Infineon Technologies (Germany), Creative Technology (Singapore), pmdtechnologies AG (Germany), Espros Photonics Corporation (Switzerland), Sony Depthsensing Solutions (Belgium), and BECOM Bluetechnix GmbH (Austria).
Other players in the depth sensing market are Aquifi (US), Nerian Vision Technologies (Germany), Melexis (Belgium), Tower semiconductor (Israel), Vrmagic Holding AG (Germany), Occipital (US), Sunny Optical Technology (China), PrimeSense (Israel), ASUSTeK Computer (Taiwan), and LIPS Corporation (Taiwan).
|Market Size||USD 7.43 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Type, Technology, Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Opportunities||Increasing application of depth-sensing techniques in smartphones to enable facial detection, recognition, and authentication.|
|Key Market Drivers||
The upsurge of demand from augmented reality and virtual reality is antiquated to create a favorable scope of development in the forecast period.
Technology, vertical, component, type, and regions are the segments that are studied to understand the global market.
The APAC region is heading the market due to the collective demand for depth sensing in consumer electronics products.
Pmd technologies AG (Germany), Creative Technology (Singapore), Sony Depth Sensing Solutions (Belgium), Espros Photonics Corporation (Switzerland), and BECOM Bluetechnix GmbH (Austria) are expected to reach a prominent level in the market in the coming years.
The revenue generation latent of the market is expected to ascend to USD 7.43 billion by 2023, from USD 3.87 billion in 2017.