Depth Sensing Market
Report ID: SQMIG20I2257
Depth Sensing Market Size, Share, Growth Analysis, By Component(Camera/Lens Module, Sensors, and Illuminators), By Technology(Stereo Vision, Structured Light, and Time-Of-Flight), By Type(Active Depth Sensing, and Passive Depth Sensing), By Vertical(Automotive, Industrial, Consumer Electronics, Medical), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2257 |
Region:
Global |
Published Date: March, 2024
Pages:
171
|Tables:
118
|Figures:
69
Depth Sensing Market Insights
Global Depth Sensing Market size was valued at USD 10.3 billion in 2022 and is poised to grow from USD 10.7 billion in 2023 to USD 15.31 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).
Depth sensing refers to the measurement of distance between two objects. Depth sensing technologies are widely used in smartphones, gaming applications, and security and surveillance systems. The military and defense sector across the globe is highly demanding advanced and effective security and surveillance systems. Key market players are grabbing these opportunities are integrating advanced depth sensing technologies into security and surveillance systems. The rapidly growing consumer electronics market and the increasing popularity of virtual reality are boosting the depth sensing market growth. Technological advancements such as the integration of smart sensors and nanotechnology are leading to the production of advanced depth sensing technologies. The boom in the gaming sector is further increasing the profits of the depth sensing market.
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Depth Sensing Market Segmental Analysis
The global depth sensing market is segmented based on component, technology, type, vertical, and region. In terms of components, the market is segmented into camera/lens module, sensors, and illuminators. Based on technology, the market is bifurcated into stereo vision, structured light, and time-of-flight. Based on type, the market is bifurcated into active depth sensing and passive depth sensing. Based on vertical, the market is bifurcated into automotive, industrial, consumer electronics, medical, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Component
The sensors segment is holding high shares in the global depth sensing market. The growing popularity of 3D sensors and rapid growth in consumer electronics applications are increasing the demand for depth sensors. Several end-use industries are focusing on the adoption of 3D sensing technologies as they increase the overall performance of products. The increasing use of sensors in automotive applications such as obstacle detection and navigation are boosting the overall market growth.
Illuminator sales are predicted to expand at the fastest pace during the projected period. Depth illuminators are finding extensive applications in automotive consumer electronics, healthcare, and robotics. Advancements in depth sensing technologies and the trend towards miniaturization are uplifting the market growth. Furthermore, the increase in the sales of depth sensing technologies is boosting the illuminator demand in a parallel manner.
Analysis by Vertical
The automotive sector holds a prime share in the global depth sensing market. Depth sensing aids in advanced driver assistance systems by offering information such as collisions or obstacles. As the automotive sector is focusing on improving the safety features the sales of depth sensing are expected to increase rapidly. Depth sensing also aids in parking assistance to detect obstacles and calculate distance. As the sales of modern cars are increasing rapidly due to the growing interest from tech-savvy consumers, the demand for depth sensing technologies is likely to experience high demand growth.
The consumer electronics sector is witnessing a healthy demand for depth sensing technologies. Growing demand for smart devices such as cameras, smartphones, tablets, and more is creating profitable opportunities for depth sensing producers. The increasing popularity of touch screens, gesture detection, and facial recognition is increasing the adoption of advanced depth sensing technologies.
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Depth Sensing Market Regional Insights
Asia Pacific is the largest market for depth sensing producers. Asia Pacific is expected to hold a dominant global market share throughout the forecast period. The presence of a strong electronics sector in Asia Pacific countries such as India, China, Japan, and South Korea is increasing the revenues of depth sensing manufacturers. The presence of early adopters and growing demand for consumer electronics with cutting-edge features is likely to boost the sales of depth sensing systems. The increasing purchasing power of the middle-class population and the increasing gaming culture are contributing to a high demand for depth sensing technologies.
Followed by Asia Pacific, North America is likely to witness high demand for depth sensing technologies during the coming decade. The rapidly growing automotive sector and ongoing industrial activities in North American countries such as the United States and Canada are increasing the growth of the depth sensing market. American consumers are major purchasers of supercars and are also famous as early adopters, technological advancements in depth sensing are set to boost the revenues of key market players.
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Depth Sensing Market Dynamics
Drivers
Rising Popularity of Autonomous Vehicles
- Autonomous vehicles extensively utilize depth sensing for their efficient operation and increasing demand for autonomous vehicles around the world is forecasted to bolster the sales of depth sensing products over the coming years. Moreover, increasing emphasis on automotive safety will also create new opportunities for depth sensing providers.
High Demand for 3D Imaging and Advanced Imaging
- Depth sensing is vital in 3D imaging and other types of advanced imaging technologies as it is used to map spatial information and depth perception to facilitate better object recognition and representation. Growing use of 3D imaging technology is slated to bolster the demand for depth sensing technology in the future.
Restraints
Standardization Issues
- Depth sensing is very specific to its application scope and therefore this technology cannot be standardized for all kinds of applications as of now. This lack of standardization could slow down the global depth sensing market growth in the long run.
High Costs Limiting Adoption
- Setting up a depth sensing system could be heavy on the wallet of many as it requires the use of advanced sensors and computing technologies. This makes it an expensive technology that is not accessible to organizations and people on a limited budget thereby hurting market development prospects as well.
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Depth Sensing Market Competitive Landscape
Leading depth sensing providers are continually focusing and investing on the research and development of novel depth technologies to maximize their business scope in the long run. Depth sensing market players are also focusing on collaborating and partnering with technology companies to leverage their expertise and develop novel depth sensing solutions going forward. The market is projected to get highly competitive over the coming years as companies spend more and more on innovation. New depth sensing companies will have a hard time competing with the established market players across the forecast period.
Top Player’s Company Profiles
- Creative Technology Ltd.
- Become Bluetechnix GmbH
- Sony
- Nerian Vision Technologies
- Qualcomm
- Melexis
- Espros Photonics Corporation
- Texas Instruments
- Intel
- Pmdtechnologies AG
- Infineon Technologies
- Stereo Labs
Recent Developments
- In February 2024, STMicroelectronics, a renowned name in the semiconductor space, announced the launch of a new all-in-one time-of-flight depth sensing LiDAR module. This launch strengthened STM’s position in the global depth sensing marketplace.
- In January 2024, Orbbec, a renowned name in the gesture recognition space, announced the launch of its new depth camera module for robotics and other tech-focused applications. The Gemini 2 XL Depth Camera is the company’s longest-range camera yet.
- In June 2022, Analog Devices, a leading semiconductor manufacturer, announced the launch of its new time-of-flight (ToF) module for 3D depth sensing and vision applications. The new module allows cameras to perceive 3D space in one megapixel resolution.
Depth Sensing Key Market Trends
- Integration with Smartphones: Smartphones with LiDAR sensors and cameras are becoming mainstream now and this is a key trend that depth sensing companies can capitalize on. Depth sensing providers can focus on integrating their products with smartphones and other mobile devices to increase sales and revenue generation potential in the long run.
Depth Sensing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, growing sales of consumer electronics and increasing consumer appetite for technologically advanced products are key factors that are estimated to bolster the demand for depth sensing over the coming years. The growing popularity of autonomous vehicles and advancements in robotics are also slated to bolster the sales of depth sensing products across the forecast period and beyond. However, the lack of standardization is estimated to hurt the adoption of depth sensing going forward. North America is forecasted to witness a major hike in the global depth sensing demand outlook owing to rapid adoption of advanced technologies in this region. Companies should focus on integrating depth sensing capabilities into smartphones to unlock a plethora of new growth opportunities across the forecast period and beyond.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 10.3 billion |
| Market size value in 2031 | USD 15.31 billion |
| Growth Rate | 4.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Depth Sensing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Depth Sensing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Depth Sensing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Depth Sensing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Depth Sensing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Depth Sensing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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