Depth Sensing Market Global Analysis 2019 Industry Size, Share, Emerging Technologies, Trends, Growth, Business Strategies, Demand, Dynamics and Forecast 2023
global Depth Sensing market is poised to reach the valuation of USD 7.43 BN by 2023, registering 11.64% CAGR throughout the forecast period
pune, India – September 30, 2019 /MarketersMedia/ —
Depth Sensing Market – Synopsis
The global depth sensing market is growing rapidly, primarily due to the increasing applications in gaming applications and the rise in demand for enhanced security and surveillance systems among end-users. Applications of this technology are growing in some of the burgeoning industries such as automotive, electronics, defense, and healthcare, among others.
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Considering the significant traction, the market is garnering currently, Market Research Future (MRFR) in its recently published study analysis asserts that the global Depth Sensing market is poised to reach the valuation of USD 7.43 BN by 2023, registering 11.64% CAGR throughout the forecast period (2017 – 2023). In 2017, the market garnered a value of USD 3.87 BN, which indicates that the market is expected to witness over double-fold growth in just six years.
Depth sensing process involves measuring the distance of an object with the help of a depth sensor. Increasing demand for applications such as augmented reality and virtual reality, face recognition and gesture control are propelling the growth for depth sensing market. The global depth sensing market is growing at a significant pace, owing to factors such as increase in use of depth sensing technology in gaming applications and due to the rise in need for enhanced security and surveillance systems among end-users. However, high initial cost of sensor modules and high power consumption for processing are some factors restraining the depth sensing market growth. To overcome this drawback, the key players in depth sensing are trying to develop technologies such as time-of-flight, which is expected to consume less power.
Major Players:
Key players leading the global depth sensing market include Intel (US), Texas Instruments (US), Qualcomm (US), Infineon Technologies (Germany), Stereolabs (US), Creative Technology (Singapore), PMD technologies AG (Germany), Sony Depthsensing Solutions (Belgium), Espros Photonics Corporation (Switzerland), BECOM Bluetechnix GmbH (Austria), Aquifi (US), Melexis (Belgium), Nerian Vision Technologies (Germany), Tower Semiconductor (Israel), Occipital (US), Vrmagic Holding AG (Germany), Sunny Optical Technology (China), ASUSTeK Computer (Taiwan), PrimeSense (Israel), and LIPS Corporation (Taiwan) among others.
Industry/ Innovation/ Related News
May 21, 2019 – Magik Eye Inc. (the US), the leading company involved in developing 3D sensor technology and has a family of 3D depth sensing solutions that support a wide range of applications for smartphones, robotics and surveillance presented its new technology Invertible Light™ at the 2019 Embedded Vision Summit.
Invertible Light is a new approach for depth sensing that enables the smallest, fastest and most power-efficient 3D sensing. Invertible Light aims to transform 3D sensing in the coming age of robotics and machine vision for the masses, replacing traditional methods such as Structured Light, Time of Flight, and Stereo Scoping Imaging.
Global Depth Sensing Market – Segments
For a better understanding, the analysis is segmented into five key dynamics:
By Component : Camera Lens Module, Sensors, and Illuminator
By Type : Active and Passive Depth Sensing
By Technology : Stereo Vision, Time-of-Flight, and Structured Light
By Vertical : Automotive, Consumer Electronics, Industrial and Medical among others.
By Region : Asia Pacific, North America, Europe, and the Rest-of-the-World.
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Regional Analysis
The global market for depth sensing is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of depth sensing market is covered for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the market owing to the increasing demand for depth sensing in consumer electronics applications which include smartphones, tablets and gaming headsets. North America is also expected to see significant growth during the forecast period due to the increased proliferation of video content and gaming and rise in demand for 3D imaging technology across the region. The growing adoption of 3D sensors is one of the major factors driving the growth of depth sensing market in this region. The implementation of 3D sensors is rising in various end-user industries such as automotive, healthcare and aerospace and defense and automotive.
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