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

Q: What is the global market size of Depth Sensing Markett?

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).

Report ID: SQMIG20I2257 | Region: Global | Published Date: March, 2024
Pages: 171 | Tables: 118 | Figures: 69

Depth Sensing Market News

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.

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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).

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. 'Creative Technology Ltd.', 'Become Bluetechnix GmbH', 'Sony', 'Nerian Vision Technologies', 'Qualcomm', 'Melexis', 'Espros Photonics Corporation', 'Texas Instruments', 'Intel', 'Pmdtechnologies AG', 'Infineon Technologies', 'Stereo Labs'

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.

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.

Asia Pacific is the largest market for depth sensing producers. Asia Pacific is expected to hold a dominant 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.

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