The 3D sensors market is expected to reach USD 5.46 Billion by 2022, at a CAGR of 26.5% between 2016 & 2022.
The growth of the market is driven by factors such as the rising demand for 3D-enabled devices in consumer electronics, integration of the optical and electronic components, the use of sensing technology in gaming applications, and the growing requirement for security & surveillance systems.
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The 3D image sensors market is expected to grow at a higher rate compared to other sensors during the forecast period. 3D image sensors help view the data in a 3D format, which helps in analyzing the size of the object and the processing it will require.
This data is used by other sensors present in the device to function accordingly. 3D image sensors have a large application across sectors as they not only help in capture an image but also provide the measurement data in three dimensions.
The 3D sensors market for the time-of-flight technology is growing because of the increasing application base and the ease of use it provides compared to other technologies. Use of this technology provides the accurate and effective results with distance and time required to calculate it.
The entertainment application is expected to grow at the second-highest rate between 2016 and 2022. The major drivers for this growth are the increasing demand for virtual reality, motion detection, and gesture recognition in the gaming sector.
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North America held the largest share of the 3D sensors market in 2015; the market in APAC is expected to grow at a high rate between 2016 and 2022. The demand for technologically advanced devices is increasing in APAC; also, the adoption rate of 3D sensors is high in consumer electronics, manufacturing industries, and entertainment sectors, which supports the growth of 3D sensors in this region.
The major restraints for the growth of the 3D sensors market include the high cost required for maintenance of these devices, and interface integration in different devices. The key players operating in the market such as Infineon Technologies AG (Germany) and PMD Technologies AG (Germany) are focused on new product developments to expand their businesses and leverage the benefits.
For instance, in December 2015, Infineon Technologies launched virtual reality enabled-smartphone using their 3D image sensors in collaboration with PMD Technologies AG (Germany).
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