August 21, 2020

3D Sensor Market expands with the rise in world population

Charting a solid 7.2% CAGR (Compound Annual Growth Rate) over the forecast period of 2018 to 2026, the global 3D Sensor Market is set to see an improvement in market worth. As per a Transparency Market Research, the value by the end of the forecast period would be USD 2556.6 million. The market owes the growth to massive advancements in technology in industries like IT and Telecommunication, and Electronics. For instance, the 3D sensor that has been upgraded has transformed the wat delivery of services happened.

Another significant factor driving growth in the global 3D Sensor market is that it is used in electronics to improve performance. And, thus, it is widely used in gaming devices, cameras, smartphones, and laptops. And, since it improves user experience, it is also used in gaming for augmented reality and virtual reality.

Thus, as demand for smartphones and other such consumer electronics increases, the global 3D Sensor Market will see an upward growth trajectory. Currently it being used in face recognition features in mobile phones, substituting for the use of PIN and fingerprint.

Experts in the industry feel that over the coming few years, it will be used as a authentication process in payment applications and mobile IDs, etc. as they are not only convenient but also more secure.

Request A Sample Copy Of The Report

Some of the most significant industries that use 3D Imaging are defense, automotive and aerospace. These lead the global 3D sensor market on to a path of higher growth. Ad, since these markets are coextensive with 3D sensing, growth in former leads to growth in the latters.

North America will Dominate the Global 3D Sensor Market over the Forecast Period

Owing to a massive online gaming rage consuming the region of North America, significant CAGR will be charted by the region over the forecast period. The landscape is rife with virtual reality gaming and augmented reality games. Since 3D sensors improve a 360-degree experience by adding depth, they are massively used in gaming. Additionally, it is important to note here that owing to presence of leading manufacturers in the United States and Canada.

Request For Covid19 Impact Analysis

However, it is pertinent to note here that the fastest growing region would be Asia Pacific (APAC). The reason behind this significant growth is the extensive use of smartphones and a very large user base.

The Global 3D Sensor Market is Set to Witness Fragmented Competitive Landscape over the Forecast Period

The global 3D sensor market is fragmented and competitive and major players in the market include Infineon Technologies, Omnivision Technologies, Occipital, Inc., PMD Technologies AG, Microchip Technology, Cognex Corporation, Intel Corporation, Ifm electronic GMBH, LMI Technology, and Texas Instruments, among others. Acquisitions and partnerships form the core strategies of better market penetration and expansion of operations.

You May Also Like PRNewswire on

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]