Depth Sensing Market 2020 - Current and Future Plans 2023
Primary Drivers and Key Barriers
Across the globe, the value of the depth sensing market in 2017 was USD 3.87 billion and can touch a valuation of USD 7.43 billion by 2023, as mentioned in the latest report furnished by Market Research Future (MRFR). Also, the growth rate achieved by the market during the forecast period (2018-2023) is estimated to be 11.64%, adds the MRFR report.
The worldwide market for depth sensing is observing exponential growth on the back of increasing usage of this technology in augmented reality and virtual reality gaming applications. Moreover, the rising need for better security and surveillance systems among various end-users adds to the market strength.
Surging acceptance of dual-camera smartphones, along with the boom in the smartphone market, has stimulated the demand for the depth sensing technology market. The growth of the smartphone market benefits the depth sensing technology as the smartphone manufacturers make use of this technology to enable authentication, facial detection, and recognition in their devices.
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However, one major drawback in the market can be the high-power consumption of the depth sensing technology, which can slow down the growth rate of the market in the years to come. Various renowned players are striving to overcome this issue by coming up with advanced technologies like time-of-flight, which is known for its less power consumption properties. Soaring demand for advanced medical imaging technologies as well as solutions coupled with the enhanced environmental scanning applications is expected to present the market with a host of growth opportunities in the next couple of years.
Top Players
The top vendors contributing to the expansion of the worldwide depth sensing market include BECOM Bluetechnix GmbH (Austria), Stereolabs (US), Infineon Technologies (Germany), Texas Instruments (US), pmdtechnologies AG (Germany), Qualcomm (US), Intel (US), Sony Depthsensing Solutions (Belgium), Creative Technology (Singapore), Espros Photonics Corporation (Switzerland), and others.
Other companies with share in the depth sensing market are PrimeSense (Israel), LIPS Corporation (Taiwan), Tower semiconductor (Israel), Aquifi (US), Occipital (US), Sunny Optical Technology (China), Melexis (Belgium), ASUSTeK Computer (Taiwan), Vrmagic Holding AG (Germany), Nerian Vision Technologies (Germany), to mention a few.
Latest News
May 21, 2019
Magik Eye Inc. (US), a prominent vendor with expertise in 3D sensor technology and offering of a broad range of 3D depth sensing solutions with applications in robotics, surveillance and smartphones, recently launched a new technology named Invertible Light(TM). Invertible Light is a latest depth sensing technology that facilitates the fastest, smallest and highly efficient 3D sensing.
Market Segmentation
The market for depth sensing includes the segments of component, type, technology, and vertical.
Component-dependent segments in the market are sensors, illuminator, and camera or lens module.
Type-wise, the market caters to active and passive depth sensing. Active depth sensing technology is expected to do better than its counterpart in the coming years, as its demand across a variety of end-use industries like consumer electronics, automotive and industrial can rise for accurate depth calculations.
Given the technology segment, the market consists of structured light, time of flight and stereo vision.
The market, considering the vertical segment, includes industrial, automotive, medical, consumer electronics, and others.
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Regional Outlook
The global market for depth sensing market is projected to scale greater heights from 2018 to 2023, with it mainly spread across the primary regions of Europe, North America, Asia Pacific (APAC), coupled with the Rest of the World (RoW).
APAC can lead the depth sensing market in the coming years, with the surging demand for the technology in consumer electronics applications like tablets, gaming headsets and smartphones. The APAC market growth is also dependent on the accelerated use of depth sensing technology in AR-VR gaming applications, rising demand for security and surveillance systems, thriving smartphone market, and increasing espousal of dual-camera smartphones.
North America holds immense potential to achieve a better position in the global depth sensing market, thanks to the high proliferation of video content and gaming combined with the rising demand for 3D imaging technology. Surging implementation of 3D sensors in a number of end-user industries like healthcare, aerospace and defense, automotive as well as automotive increases the growth potential of the regional market to a great extent.
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