The global 3D sensors market size is poised to grow by USD 14.7 billion during 2020-2024, progressing at a CAGR of over 29% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global 3D Sensors Market 2020-2024 (Graphic: Business Wire)
The increasing use of 3D sensors in security and surveillance systems is expected to drive the 3D sensors market growth over the forecast period. For instance, aerospace and defense personnel are increasingly using security and surveillance systems incorporated with 3D sensors to enhance security. Cameras with 3D sensors can perform various functions such as 3D imaging, position tracking, depth sensing, and gesture recognition. Additionally, the use of drones or UAV systems for navigation and surveillance in search and rescue operations, cargo delivery, and others is increasing. Therefore, most of the OEMs of 3D sensors have increased their focus on the development of 3D sensors and 3D sensor-based devices, which will significantly fuel the 3D sensors market growth over the forecast period.
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Report Highlights:
- The major 3D sensors market growth came from consumer electronics segment. Increasing smartphone penetration is contributing to the growth of the 3D sensors market. The global smartphone market is recording rising competition due to the emergence of low-cost smartphones. Therefore, smartphone manufacturers are focusing on product differentiation with the incorporation of advanced features such as multiple-lens camera, AI, virtual assistant, fingerprint sensor, and facial recognition in their products. This also includes the trend of incorporating 3D-depth sensing cameras, which is contributing to revenue generation for 3D camera sensors manufacturers.
- North America was the largest market for 3D Sensors in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. The high adoption of 3D sensors in consumer electronic devices and the industrial and commercial sector and the integration of HMI technologies by major OEMs in the region will significantly influence the 3D sensors market growth.
- The global 3D sensors market is fragmented. ams AG, Broadcom Inc., Himax Technologies Inc., ifm electronic Gmbh, Infineon Technologies AG, Intel Corp., OmniVision Technologies Inc., Sony Corp., STMicroelectronics NV, and Texas Instruments Inc. are some of the major market participants. To help clients improve their market position, this 3D sensors market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global 3D sensors market 2020-2024 is expected to have Negative and Inferior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/3D-sensors-market-industry-analysis
Growing Investments in Autonomous Vehicles will be a Key Market Trend
Growing investments in autonomous vehicles is one of the vital 3D sensors market trends. Information received from a connected car network, and IoT helps autonomous vehicles in navigation. Light detection and ranging (LiDAR) systems are essential in autonomous cars to automatically control vehicle speed, distance from other vehicles, and braking in accordance with traffic conditions. LiDAR systems integrate several components, including 3D sensors and camera systems, for imaging and scanning.
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3D Sensors Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist 3D sensors market growth during the next five years
- Estimation of the 3D sensors market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the 3D sensors market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of 3D sensors market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market Outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
- Comparison by application
- Consumer electronics – Market size and forecast 2019-2024
- Industrial/commercial – Market size and forecast 2019-2024
- Automotive – Market size and forecast 2019-2024
- Healthcare – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Growing number of strategic partnerships among market participants
- Integration of multiple-lens camera systems in smartphones
- Growing investments in autonomous vehicles
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- ams AG
- Broadcom Inc.
- Himax Technologies Inc.
- ifm electronic Gmbh
- Infineon Technologies AG
- Intel Corp.
- OmniVision Technologies Inc.
- Sony Corp.
- STMicroelectronics NV
- Texas Instruments Inc.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201005005968/en/