“The global 3D time-of-flight sensor market is estimated to account US$ 332.29 Mn in 2018 and is expected to grow at a CAGR of 6.3% during the forecast period 2020 – 2027, to account to US$ 568.97 Mn by 2027.”
Geographically, Europe holds the largest 3D time-of-flight sensor market share, owing to rapid technological developments, numerous investments, and supportive Government policies in the European countries. However, APAC 3D time-of-flight sensor market is projected to grow with the highest growth rate during the forecast period. The continuous growth in the economies of developing countries like India and China as well as the presence of huge disposable incomes with individuals in countries like Japan and Australia have facilitated the rapid growth of automotive as well as electronics industry in this region.
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Global 3D Time-Of-Flight Sensor Market – Company Profiles
- Adafruit Industries
- AMS AG
- ifm electronic gmbh
- Infineon Technologies AG
- Keyence Corporation
- Sony Corporation
- STMicroelectronics N.V.
- Teledyne Technologies Incorporated
- Texas Instruments Incorporated
Emerging Integrations of Consumer Electronics in the Automotive Industry and Rising Demands from Autonomous Vehicles
Automotive sector has implemented large transformations for enhancing the driving experience. The automobiles of today are becoming smarter, becoming more capable of self-diagnostics, and more advanced in terms of communicating with other entities on the road. Trends such as Advanced Driver Assistant Systems (ADAS), infotainment systems, car telematics have been trending in the automotive industry for quite some time now. The success of these trends is entirely attributed to the sophistication and technological advancements in the semiconductor industry. The trends such as car telematics, easy-to-use and interactive infotainment systems are emerging at rapid rates and being developed with a focus on driver and passenger safety. Also, the implementation of other safety features has resulted in the reduced number of car accidents as well as fatalities in the last decade.
Vehicles of today come with increased computing power, and this has been realized owing to the increasing electronic integrations into the vehicles. Detecting obstacles and alerting, navigating maps, operating the infotainment system inside the vehicles is becoming more advanced, user-friendly and convenient and comprise the scope of 3D ToF sensors in the automotive application. A simple hand swipe gesture by the driver can be used for changing the music or changing the radio channel while on the road. Thus, propelling the demand of 3D time-of-flight sensor market in the forecast period.
Increased Demand Of Smart Consumer Electronics Devices
The consumer electronics devices industry is witnessing immense growth in both developed and developing countries majorly due to advancements and smart features that are offered by the manufacturing companies. In the current scenario, various consumer electronics devices are used by individuals for a plethora of tasks. Consumer electronics devices such as smartphones, tablets, PCs, TVs, washing machines, fridge, music players, etc. have become integral part of individual’s lives.
All these devices are becoming smarter with the ongoing technological advancements and integration of Internet of Things (IoT) and Artificial Intelligence (AI). The market for consumer electronics devices is constantly growing, owing to the fact that manufacturers are regularly coming up with advanced technologies and features in their devices and disposable income of individual is rising. Therefore, the 3D time-of-flight sensor market across consumer electronic sector is bossting.
Application Segment Insights
The 3D time-of-flight sensor market by application is segmented into a consumer electronics, automotive, machine vision and industrial automation, robotics and drone, and others. The integration of TOF technology with drones in enhancing its working in many ways such as it helps the drone to land smoothly, to measure the distance, provide information about navigation and anti-collision, to avoid the obstacle, and to sense the level. Similarly, the 3D flash LiDAR camera in drone also uses TOF sensors used for object scanning, indoor navigation, measure distance, obstacle avoidance, tracking objects, gesture recognition, augmented reality games, measuring volumes, 3D photography, reactive altimeters, and much more. These factors resulted in the steady growth of 3D time-of-flight sensor market.
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