3D Sensor Market - Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026

Albany, NY -- (SBWire) -- 02/22/2019 --According to a new market report pertaining to the 3D sensor market, published by Transparency Market Research, the global 3D sensor market is expected to reach US$ 2,556.6 Mn by 2026, expanding at a CAGR of 7.2% from 2018 to 2026. According to the report, the global 3D sensor market will continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at a CAGR of 7.9% through 2026.

The 3D sensor market has seen demand traction due to rising demand for smartphones, with consumer electronics holding the largest share. One of the most important features in mobile communications is to unlock the mobile by 3D face recognition as a replacement of fingerprint or PIN. Making authentication more convenient and more secure, it may soon become indispensable for mobile payment applications and mobile ID.

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Healthcare, automotive, and aerospace & defense are the leading verticals in terms of adopting 3D imaging which provides a number of advantages for inspection applications. These are some drivers that are expected to drive the 3D sensor market during the forecast period.

The global 3D sensor market is broadly segmented in terms of type, technology, end use, and region. By type, the global 3D sensor market is segmented into image sensor, position sensor, acoustic sensor, proximity sensor, and others. Among all the sensor types, the image sensor segment held the highest market share of 48.83% in 2017. Image sensors offer artificial intelligence in smartphones introduced by some of the leading players such as Apple.

Apple has already taken the lead to include image sensors in their smartphones, and other companies are also following the same trend. Hence, the image sensor segment is anticipated to be the dominant segment with the highest CAGR of 7.9%. By technology, the global 3D sensor market is segmented into stereo vision, time-of-flight, structured sensor, infrared sensor technology, and hall technology.

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Among these technologies, time-of-flight contributed the largest market share of 37.18% in 2017 and is anticipated to dominate the market during the forecast period owing to increasing adoption in multiple applications. This is mainly due to much higher frame provided by time-of-flight compared to other technologies.