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Global 3D Sensors Market 2020-2024 | Growing Investments in Autonomous Vehicles to Boost Growth | Technavio

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The global 3D sensors market size is expected to grow by USD 14.72 billion during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global 3D sensors market 2020-2024. (Graphic: Business Wire)

Technavio has announced its latest market research report titled global 3D sensors market 2020-2024. (Graphic: Business Wire)

With the rising need for security owing to rising incidences of theft and robbery, the adoption of security cameras and CCTV cameras has increased considerably in recent years. These devices use cameras with 3D sensors to perform various functions such as 3D imaging, position tracking, depth sensing, and gesture recognition. Also, the aerospace and defense sector has been deploying 3D sensor-enabled cameras to enhance the security of national borders, railroads, airports, power lines, and power plants. Furthermore, the increasing use of drones for navigation and surveillance will also contribute to the growth of the 3D sensors market during the forecast period. Vendors are developing and introducing advanced 3D sensor solutions for the LiDAR or laser detection and ranging (LADAR) systems operating drones. Thus, the growing application of 3D sensors in security and surveillance systems will drive market growth during the forecast period.

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As per Technavio, growing investments in autonomous vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2020-2024.

Global 3D Sensors Market: Growing Investments in Autonomous Vehicles

Rising need for improving safety and minimizing fatalities caused during vehicular accidents is one of the most prominent reasons for the growing investments in autonomous vehicles. These vehicles incorporate several electronic systems, including LiDAR scanning, optical encoders, autonomous brake systems, and other devices using 3D sensors for imaging and scanning purposes. 3D sensors play a significant role in offering 3D views of the surroundings and providing 3D imaging solutions to autonomous vehicle manufacturers. As a result, vendors in the market are also encouraged to expand their product portfolio for capitalizing on the increasing integration of 3D sensors in autonomous vehicles. Thus, growing investments in autonomous vehicles will further accelerate the demand for 3D sensors during the forecast period.

“Growing strategic partnerships among market participants, rising use of HMI technologies, and surging number of patents related to gesture recognition will boost the 3D sensors market growth during the forecast period”, says a senior analyst at Technavio.

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Global 3D Sensors Market: Segmentation Analysis

This market report segments the global 3D sensors market by application (consumer electronics, industrial/commercial, automotive, healthcare, and others) and geography (APAC, Europe, MEA, North America, and South America).

North America led the 3D sensors market share in 2019, followed by APAC, Europe, South America, and MEA, respectively owing to the high adoption of 3D sensors in consumer electronics, industrial, and commercial sectors. Furthermore, the integration of HMI technologies by major OEMs in the US, Canada, and Mexico will also significantly influence the 3D sensors market growth in North America during the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

  • Geographic comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.