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The 3D sensors market share is expected to increase by USD 10.84 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 23.19%.
This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (industrial/commercial, consumer electronics, automotive, healthcare, and others) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The market report also offers information on several market vendors, including ams AG, Analog Devices Inc., Broadcom Inc., Himax Technologies Inc., ifm electronic GmbH, Infineon Technologies AG, Intel Corp., LMI TECHNOLOGIES INC., Melexis NV, Occipital Inc., OEM AUTOMATIC UAB, OMNIVISION Technologies Inc., Ouster Inc., Panasonic Corp, Qualcomm Technologies, Inc., Quanergy Systems Inc., Sense Photonics, Inc., SmartRay GmbH, Sony Group Corp., STMicroelectronics NV, Texas Instruments Inc., and Xovis AG among others.
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Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The use of 3D sensors in security and surveillance systems is notably driving the market growth, although factors such as accuracy and calibration issues during sensor fusion may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the 3D sensors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key 3D Sensors Market Driver
The use of 3D sensors in security and surveillance systems is a major factor driving the global market share growth. The adoption of 3D sensors in electronic devices such as security cameras and closed-circuit television (CCTV) cameras is growing because of the increasing need for security. Cameras with 3D sensors can perform various functions such as 3D imaging, position tracking, depth sensing, and gesture recognition. 3D sensors can provide real-time sensing and scanning of objects. Thus, aerospace and defence personnel are increasingly using security and surveillance systems that incorporate 3D cameras to enhance security. Drones are increasingly becoming an integral part of several industries, such as aerospace and defence, industrial, and retail (e-commerce). LiDAR or laser detection and ranging (LADAR) systems are used to operate drones. These systems use 3D sensor-enabled devices for developing 3D imaging of objects and surroundings. Major vendors have increased their focus on the development and introduction of 3D sensors, especially for security and surveillance applications, to capitalize on the market. Some of the vendors are working with technology providers to develop 3D sensor solutions. Thus, increasing the use of 3D sensors in security and surveillance systems is expected to foster the growth of the global 3D sensor market during the forecast period.
Key 3D Sensors Market Trend
The growing number of strategic partnerships among market participants is another factor supporting the global market share growth. The global 3D sensor market is in its growth stage, which is encouraging vendors to invest in the development of 3D sensing hardware. 3D sensors are being increasingly incorporated in mobile computing devices such as smartphones, tablets, and laptops to provide high-quality /images. The incorporation of 3D gesture recognition technology in gaming consoles and automobiles is opening up ample opportunities for market participants to tap the untapped potential of the market. Therefore, market participants, including chip manufacturers, camera manufacturers, sensor module manufacturers, and technology providers, are collaborating with each other to explore new application areas for 3D imaging and sensing. The growing number of partnerships among market participants will accelerate the development and commercialization of 3D imaging and sensing hardware during the forecast period.
Key 3D Sensors Market Challenge
The accuracy and calibration issues during sensor fusion will be a major challenge for the global market share growth during the forecast period. Manufacturers are facing challenges while combining multiple sensors to enhance accuracy. Firms are focusing on releasing 3D MEMS inertial measurement units (IMUs) to achieve sensor fusion. A 3D MEMS IMU provides a specific force and angular rate for a device by using a combination of accelerometers and gyroscopes. IMUs often incorporate additional sensors such as magnetometers. The combination of multiple sensors gives rise to calibration issues. This is because different sensors acquire respective measurements, which are then combined through sensor fusion. Sensor fusion results in time lag or faulty output. Sensors need to be aligned properly to avoid performance issues. Multiple sets of calibration and testing are required in the sensor fusion unit, which is a highly time-consuming task. Such activities increase the power consumption of the device. Good calibration is a prerequisite for sensor fusion, preferably without additional hardware that further adds to the overall cost. Thus, accuracy and calibration issues during sensor fusion are one of the major challenges for market growth
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global 3D sensors market as part of the global semiconductors market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market’s growth will originate from North America during the forecast period. The US is the key market for 3D sensors in North America. Market growth in this region will be slower than the growth of the market in APAC regions.
The high adoption of 3D sensors in consumer electronic devices and the industrial and commercial sectors will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the market in North America witnessed certain challenges owing to the COVID-19 pandemic, which resulted in the temporary closure of various industries, including automotive, industrial, military and defence, and consumer electronics. Governments of North American countries, such as the US, Canada, and Mexico, imposed stringent COVID-19-related restrictions, such as nationwide lockdowns and stay-at-home regulations.
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The market share growth by the industrial/commercial segment will be significant during the forecast period. The implementation of industrial robots such as autonomous guided vehicles, autonomous mobile robots, UAVs or drones, and autonomous forklifts is one of the major reasons for the growth of the market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.
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3D Sensors Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 23.19% |
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Market growth 2022-2026 |
$ 10.84 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
22.97 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 39% |
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Key consumer countries |
US, China, South Korea, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ams AG, Analog Devices Inc., Broadcom Inc., Himax Technologies Inc., ifm electronic GmbH, Infineon Technologies AG, Intel Corp., LMI TECHNOLOGIES INC., Melexis NV, Occipital Inc., OEM AUTOMATIC UAB, OMNIVISION Technologies Inc., Ouster Inc., Panasonic Corp, Qualcomm Technologies, Inc., Quanergy Systems Inc., Sense Photonics, Inc., SmartRay GmbH, Sony Group Corp., STMicroelectronics NV, Texas Instruments Inc., and Xovis AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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