3D Sensor Market Expected to Reach $57 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “3D Sensor Market," The 3d sensor market size was valued at $17.6 billion in 2021, and is estimated to reach $57 billion by 2031, growing at a CAGR of 13% from 2022 to 2031.

As the use of 3D sensing technology has grown, manufacturers have been working to provide high-quality sensors that can make use of both new and old technologies. A key driver of the market expansion is the usage of 3D sensors in augmented reality, mapping, and biometric sensors. Also, the market is aided by rising demand for 3D sensors in imaging applications, virtual reality, gaming, security, and surveillance. In order to create a 3D model, it is also utilized by artists, engineers, and architects, which may also contribute to 3d sensor market expansion. Electronics utilize three-dimensional depth sensing to detect the dimensions of objects. This technology is becoming more prevalent across a range of sectors and uses. These factors are accounted for global 3D sensor market growth.

The complexity of 3D sensors, high maintenance costs, and poor manufacturing could restrain market expansion. Superior chip size is needed to capture images from 3D sensors, which naturally drives up the cost of the production process. The performance of the image may be impacted by decreasing the pixel pitch to cut costs.

The Mechanical 3D-Sensor has been around for a while and is further developed into the Digital 3D-Sensor. It is used to establish the workpiece edges on milling and Electronic Distance Measurement (EDM). On the reference edge, the spindle can be rapidly and securely placed. The zero location is discovered on the first try and the setting operation may be carefully tracked on the digital display. The spindle axis is positioned precisely on the approaching edge, making it possible to select the machine coordinate system without performing any calculations. Additionally, the digital display features big, easy-to-read numbers with measurements in 0.0002 increments. The digital display can be stored in the machine's tool magazine and is dust- and splash-proof (IP64). These factors are accounted for 3D sensor market trends during forecasted period.

The global 3D sensor market share is segmented based on type, technology, connectivity, end-use, and region. By type, it is classified into the image sensor, accelerometer sensor, position sensor, and others. By technology, it is classified into structured light, time of flight, stereoscopic vision, ultrasound, and others. By connectivity, it is classified into wireless and wired. By end use, it is classified into consumer electronics, healthcare, aerospace & defense, automotive, and others. By region, the 3d sensor market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the 3D sensor market analysis report include pmdtechnologies ag, Infineon Technologies AG, SAMSUNG, LMI TECHNOLOGIES INC., COGNEX CORPORATION, Microchip Technology Inc., Occipital, Inc., Qualcomm Technologies, Inc., KEYENCE CORPORATION, and OmniVision Technologies, Inc. These market players have adopted various strategies to increase their market share and strengthen their foothold in the industry.

Impact of COVID-19 on the Global 3D Sensor Industry

• Sales of 3D sensors are directly proportional to the demand from consumers in electronics, healthcare, automotive, and aerospace & defense. Considering the demand, COVID 19 has impacted the operations of many OEM from R&D to Production, resulting in revenue losses across the supply chain.
• COVID-19 impacted almost all industries and the 3D sensor-producing companies ceased their operations owing to import-export restrictions, lockdown imposed across several countries, and shortage of labor; the fear of contracting the novel coronavirus led to sluggish demand in the 3d sensor market.
• Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global 3d sensor market.

Key Findings of the Study

• Based on type, the image sensor sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period
• Based on technology, the structured light sub-segment emerged as the global leader in 2021 and the stereoscopic vision sub-segment is predicted to show the fastest growth in the upcoming years
• Based on connectivity, the wireless sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years
• Based on end-use, the consumer electronic sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years
• Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period