Depth Sensing Market

Global Depth Sensing Market Size (2023 to 2028)

The global depth sensing market is expected to be worth USD 3.50 billion in 2023. It is expected to grow at a CAGR of 11.64% during the forecast period and reach a value of USD 6.07 billion by 2028.

Depth sensing technology is a process that is implemented to calculate the distance to an object. With the help of this depth sensing technology, any target that can be a line, points, or even a collection of points that make up an area can be easily measured. 3D depth sensors, also called 3D cameras or 3D scanners, are devices used to generate depth information from a certain scene by calculating the possible distance between the sensor and the objects ahead of it. Until now, this technology has been used mainly for industrial applications, but many smartphone companies like Apple are about to bring it to the mainstream market, which will be a potential factor in driving significant changes in the market devices in your daily life. The increasing adoption of dual-camera smartphones and the acceleration of the smartphone market are expected to drive the depth-sensing market.

MARKET DRIVERS:

The global depth-sensing market is developing at a significant rate due to factors such as the increase in the use of depth-sensing technology in gaming applications and the increasing need to improve security and surveillance systems among users. Additionally, the surge in the application of depth-sensing techniques in smartphones to enable face detection, recognition, and authentication is anticipated to drive the demand for depth sensing during the outlook period.

The global depth sensor market is determined to grow with a compound annual growth rate (CAGR) of 11.64% over the forecast period. The depth sensing process involves measuring the distance of an object from a particular point of view using depth sensors. Depth detection is done using two types of methods: passive and active. Stereo vision is used in the passive depth sensing method, while time of flight (ToF) and structured light is used in the active depth sensing method. Structured light offers the best depth accuracy performance; however, it has the shortest depth detection range, while the ToF depth detection range depends on the emitting power of the light source. The growing demand for depth sensors in applications such as virtual and augmented reality, gesture control, and facial recognition is driving the growth of depth sensing around the world.

MARKET RESTRAINTS:

However, the high cost of depth sensors and the need for a perfect angle for stereo depth sensing technology are factors affecting market growth and are likely to hamper the global depth sensing market for years to come.

Impact of COVID-19 on the depth sensing market:

Coronavirus is an unparalleled global public health emergency that has affected nearly every industry; therefore, its long-term effects are expected to impact industry growth in the next few years. Our ongoing research improves the existing framework to ensure that the underlying causes of COVID-19 and possible future pathways are included. The report offers various insights related to different changes in consumer behavior and demand, purchasing patterns, the dynamics of current market forces, supply chain diversion, and significant government interventions.

REPORT COVERAGE:

This research report on the global depth sensing market has been segmented and sub-segmented into the following categories.

Depth Sensing Market - By Components:

• Camera/Lens Module
• Sensor
• Illuminator

The sensor segment is foreseen to record the highest CAGR during the projection period. The sensor often comprises a monochrome CMOS sensor and an infrared projector that help create 3D images. The sensor can determine the depth of the subject by processing the point shift and creating a depth map. This component of the depth transducer has the most variation in terms of capacity and is a crucial factor in identifying the quality of a depth transducer, as it plays an important role in the accuracy of the final product.

Depth Sensing Market - By Type:

• Active Depth Sensing
• Passive Depth Sensing

The active depth sensing segment is supposed to grow at a rapid rate during the projection period due to the increasing demand for accurate depth calculations in different end-use industries such as industrial, consumer electronics, and automobiles.

Depth Sensing Market - By Technology:

• Stereo Vision
• Structured Light
• Time Of Flight

Depth Sensing Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa 

The North American depth sensor market is likely to develop at a high growth rate during the envisioned period. This is mainly due to the increasing proliferation of video and game content and the growing demand for 3D imaging technology in the region. Asia-Pacific is expected to offer lucrative expansion opportunities in the depth sensor market in the near future. The increased adoption of consumer electronics such as tablets, smartphones, laptops, and gaming headsets is the main driving force of the market in the Asia Pacific.

KEY MARKET PLAYERS:

The prominent players in the global depth sensing market are Texas Instruments (US), Intel (US), Qualcomm (US), Stereolabs (US), Infineon Technologies (Germany), Creative Technology (Singapore), pmdtechnologies AG (Germany), Espros Photonics Corporation (Switzerland), Sony Depthsensing Solutions (Belgium), and BECOM Bluetechnix GmbH (Austria). Other players in the depth sensing market are Aquifi (US), Nerian Vision Technologies (Germany), Melexis (Belgium), Tower Semiconductor (Israel), Vrmagic Holding AG (Germany), Occipital (US), Sunny Optical Technology (China), PrimeSense (Israel), ASUSTeK Computer (Taiwan), and LIPS Corporation (Taiwan).

RECENT HAPPENINGS IN THE MARKET:

• Infineon Technologies AG and PMD Technologies have joined forces to build up another 3D profundity sensor that will furnish cell phones and different gadgets with a more exact approach to plan conditions for applications, for example, gaming, internet business, and other vivid encounters.
• Stereolabs was delighted to announce the release of ZED SDK 1.0! This update brings 6-DoF position tracking to VR and robotics, real-time 3D mapping with ZEDfu, new Wide VGA resolution, and more.
• Qualcomm Technologies presents another Image Signal Processor (ISP) and a scope of camera modules to quicken profundity location on cell phones, XR headsets, and more.
• Intel dispatched RealSense ID, a facial acknowledgment arrangement dependent on its RealSense profundity-detecting innovation (by means of Gizmodo). RealSense started out as a Kinect-style camera for contactless interaction, but RealSense ID appears to be Intel's attempt to first reposition its camera activity towards secure facial recognition on the device while potentially putting the business in the crossfire of the controversy.