3D Sensors Market

Global 3D Sensor Market Size (2024 to 2029)

The global 3D Sensor Market size is expected to be worth USD 19.89 Billion in 2024. It is expected to grow at a CAGR of 13% during the forecast period and reach a value of USD 36.65 Billion by 2029.

Advances in 3D vision sensors for manufacturing and logistics are expected to provide further opportunities in the global 3D sensor market. Augmented reality and manufacturing are among the latest applications that require 3D depth-sensing technologies. Consumer devices, such as tablets and smartphones, have started to use this technology more often for facial recognition. Thus, smartphone's 3D depth sensors work excellent as 3D scanners. Modern CMOS image sensors for 3D solutions are revolutionizing industrial applications by offering high speed, dynamic range, and high-speed capabilities in a rectangular format. Furthermore, industry 4.0 initiatives, including automation and robotics, are driving the demand for 3D imaging sensors that provide high-quality and distance measurements in challenging conditions.

Global 3D Sensor Market Drivers:

The rising adoption of image sensors in the automotive industry is propelling the growth of the global 3D sensor market. The market share is growing because of the use of image sensors in cars. Lane departure warnings, parking assistance, and collision avoidance are all provided by advanced driver assistance systems with image sensors. One major factor addressing the worldwide demand for protective and medical equipment is the 3D printing sensor's accessibility and quick prototyping speed. 3D printing produces less material waste than subtractive manufacturing techniques, which typically lose 80 to 90 percent of the raw material. Rapid prototyping was revolutionized by 3D printers, which made manufacturing affordable for anyone at a reasonable setup and printing cost, especially in times of global crises.

Another factor driving the global 3D sensor market growth is the enhancement in remote monitoring and control, which is increasingly dependent on improving sensor interoperability with the Internet of Things platform. Sensors now have an immense number of uses in industrial, medical, consumer electronics, automotive, and other fields thanks to Internet of Things-connected equipment.

Furthermore, government programs for smart buildings and households are accelerating the use of 3D sensors. The rising demand for consumer electronics will present more opportunities to boost the business's earnings. Also, there has been a boom in the smartphone market worldwide due to rising disposable income, the introduction of 5G, and the advancement of telecom infrastructure. All these are contributing to the expansion of the 3D sensor market.

Global 3D Sensor Market Restraints:

Difficulty in the maintenance and improvement of 3D LiDAR sensors is decreasing the growth rate of the 3D sensor market. A lot of LiDAR systems lack the ability to handle upgrades and enhancements via the air. Furthermore, even though they are made by the same company, the majority of them are incompatible with models from various generations. Additionally, the inherent noise produced by the laser lowers system resolution; further, due to low ambient light and grey levels, specular reflections and surrounding light present serious problems for vision systems, which results in distortion in the computation of volumetric 3D images. Low-megapixel cameras and costly chips for improvement are hindering the growth of the market.

The lack of established standards in 3D LiDAR sensors is one of the primary challenges for the global 3D sensor market. Every LiDAR sensor has a different network interface and data format, and to decode the data, each one needs a different driver and set of SDKs or frameworks, making the work difficult. The difficulty worsens because more recent LiDARs have ever-higher resolutions, producing vast volumes of 3D data that must be transferred and analyzed. Thus, application developers are forced to utilize high-end, costly computer platforms, specialized wiring, and connections with lots of bandwidth. Furthermore, high power consumption for capturing data, data processing, and data filtering is also affecting the demand for 3D sensors.

Impact of COVID-19 on the global 3d sensors market:

COVID-19 increased the demand for 3D sensor-based products due to social distancing and lockdowns. 3D printing technology and open-source smart computer-aided design helped during the pandemic to overcome traditional production methods to fulfill the demand for health and medical products. This expanded the share of the global 3D sensor market. It also caused disruptions for end-user firms and had a substantial effect on electronics production worldwide. Furthermore, 3D printers also assisted in designing and manufacturing diagnostics and therapeutics and preventive equipment.

REPORT COVERAGE:

This research report on the global 3D sensor market has been segmented and sub-segmented based on type, technology, end-user and region.

Global 3D Sensor Market - By Type:

• Position Sensor
• Image Sensor
• Temperature Sensor
• Acoustic Sensor
• Accelerometer Sensor
• Pressure Sensor
• Others

The image sensor segment is expected to have the maximum share under this category of the global 3D sensor market. A high-quality camera the size of a salt grain was recently developed. For better camera performance, smartphone makers want to incorporate larger sensors, artificial intelligence, and premium lenses. The most popular type of sensor, CMOS, uses rolling shutters to provide greater frames per second (fps) for video capture. This allows for quicker data transfer rates. Advanced image technologies, machine language, and artificial intelligence have made autonomous driving acceptable. Machine vision sensors have digitized manufacturing processes.

Global 3D Sensor Market - By Technology:

• Capacitive Sensing
• Interactive Displays
• Ultrasound
• Infrared Sensing
• Electric Field
• Camera-Based Recognition 3D
• MEMS
• Time of Flight
• Structured Light
• Stereoscopic Vision

The time of flight segment is anticipated to continue to grow at a faster pace in the coming years. Nowadays, a lot of smartphones are equipped with a dedicated time flight-based depth-sensing camera. It is predicted that in the future, ToF sensors will be a common feature of expensive smartphones. The development of advanced driver assistance systems and the requirement for autonomous driving technology are boosting the demand for LiDAR technology. It is anticipated that these advancements will propel the global 3D sensor industry.

Global 3D Sensor Market - By End User:

• Automotive
• Consumer electronics
• Robotics
• Industrial automation
• Aerospace
• Defense medical devices
• Logistics
• Warehouse
• Others

The automotive segment is projected to have a higher CAGR among others during the forecast period. These sensors are commonly utilized in the automotive industry for tracking and maintaining vehicle temperature, cooling system, oil pressure, and speed. In addition to helping computer-assisted driving, 3D sensing technology can enhance safety by warning the driver when it detects persons or objects nearby. Therefore, the demand for safe driving is elevating the 3D sensor market share.

Global 3D Sensor Market - By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

North America's global 3D sensor market holds the highest share due to the high demand from the consumer electronics and automotive industries that utilize 3D sensors for different purposes in these industries. The market demand for sensors is predicted to rise together with the growing use of smartphones in the United States. The US Census Bureau and Consumer Technology Association reported a rise in smartphone sales to more than 74 billion dollars in 2022 from 73 billion dollars in 2021. Additionally, today's customers favor devices with better image quality in laptops and Ultra HD or 4K television sets.

Europe's global 3D sensor market is predicted to witness considerable growth during the forecast period. Robotic and mobile automation platforms in manufacturing facilities are getting better as a result of the automation industry's sharp rise. The cutting-edge depth camera's 3D sensor data will enhance automated processes like obstacle recognition, collision avoidance, localization, and route planning for autonomous platforms. Furthermore, the growth of 3D sensors in automotive safety, ADAS, and AR or VR automation is driven by factors such as increased demand and interest in robotics.

Asia Pacific's global sensor market is projected to develop at a significant growth rate during the forecast period. The main economies boosting the expansion of the 3D sensor market are China, Japan, and India. VCSEL is currently being used by manufacturers of smartphones, including Xiaomi, Huawei, Oppo, and Samsung. Next-generation applications such as automotive in-cabin sensors, augmented reality, 3D facial recognition, and machine vision for robots and driverless vehicles are made possible by VCSEL. Thus, the market size will grow from the adoption of VCSEL in smartphones. It is anticipated that large expenditures in cutting-edge automotive Technology such as autonomous driving, LiDAR, and electric vehicles will increase demand for 3D sensors.

Latin America's global sensor market will continue to grow at a steady pace in the coming years. Manufacturers are enhancing their Technology and solutions to meet the growing demand for automation in the logistics industry. This technological upgrade in the region is propelling the global 3D sensor market forward. The Latin America 3D Sensor market is anticipated to increase at the fastest rate due to the logistics industry's growing desire for automation.

Middle East and Africa's global 3D sensor market is estimated to propel further during the forecast period. The adoption of 3D measuring sensors has increased dramatically due to the growing demand for real-time depth and visual data. Moreover, automated guided vehicles and autonomous mobile robots in warehouse operations can benefit from the depth-sensing intelligence provided by 3D sensing cameras.

KEY MARKET MANUFACTURERS:

Intel Corporation, AMS AG, Infineon Technologies AG, Lumentum Holdings Inc., Cognex Corporation, Microchip Technology Inc., Occipital, Inc., SoftKinetic (Sony Corporation), ASUSTeK Computer Inc., PMD Technologies AG, Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., Sony Depth sensing Solutions, Velodyne Lidar, Inc., IFM Electronic GmbH, Keyence Corporation, Teledyne Technologies Incorporated and SICK AG are some of the major companies in the global 3D sensors market.

RECENT HAPPENINGS IN THE MARKET:

• In June 2023, Scientists at the Technion of the Israel Institute of Technology and Carnegie Mellon University's School of Computer Science developed a new generation of 3D sensors that can record this kind of minuscule depth detail.