Depth Sensing Market Introduction
The global market for depth sensing had been growing at an exponential rate in the past decade. The market crossed the US$ 1 billion market in 2017, and it is likely to grow at a double-digit CAGR during the next decade.
The tech industry is constantly undergoing transformations, giving rise to new groundbreaking innovations, which is one of the most important factor instrumental in boosting development of the depth sensing technologies. The depth sensing market is witnessing impressive growth as depth sensors are becoming the most commonly used components in the latest tech innovations in robotics and Artificial Intelligence (AI).
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Depth sensing is becoming an important feature in next-gen electronic products, including smartphones and laptops, as the conventional world of 2D smartphone cameras is transitioning towards the 3D world. Smartphone manufacturers’ futuristic approach towards the tech-based features is expected to boost growth of the depth sensing market. Leading manufacturers in the tech industry are hinging on the recent developments in the depth sensing industry to launch groundbreaking features of consumer electronic products.
Depth Sensing Market – Notable Developments
- In January 2019, Sony Depthsensing Solutions – a leading developer of imaging sensors and a top-tiered company in the depth sensing market – announced that it has adopted strategies to introduce the next generation of visual-processing chips through depth sensing lenses and a new set of 3D sensors. The company also declared its plans to ramp up its production of visual-processing chips in the coming years while catering to the increasing demand from smartphone manufacturers to introduce better face recognition features.
- Intel Corporation – an American multinational corporation and technology company and a leading player in the depth sensing market – recently announced that it has expanded its D400 RealSense cameras series with the launch of two new RealSense depth cameras – D415 and D435. The company also announced that the newly launched depth sensing cameras enable end-users to process depth data at high framerates in real time, which makes these cameras ideal for educators and content creators.
Some of the most prominent competitors operating in the competitive landscape of global depth sensing market include –
- Sony Depthsensing Solutions
- Texas Instruments
- BECOM BLUETECHNIX
- Infineon Technologies
- Tower semiconductor
- ASUSTeK Computer
- Nerian Vision Technologies
- Sunny Optical Technology
- LIPS Corporation
Depth Sensing Market Dynamics
Growing Applications of Depth Sensing in Consumers Electronics will Drive Market Growth
Ever-growing demand for next-generation consumer electronics, such as smartphones, tablets, and laptops, has triggered applications of state-of-the-art technologies in the consumer electronics industry. Leading technology companies are incorporating latest technologies to offer depth sensing features to the latest versions of their existing products, to maintain a competitive edge in the market. With the implementation of innovative technologies to introduce depth sensing features, such as AR-VR (augmented reality and virtual reality), face recognition, scanning, and gesture control, in new smartphones, the global market for depth sensing is expected to witness positive growth in the upcoming years.
Asia Pacific Region to Prove Lucrative for Depth Sensing Market Players
With the strong presence of leading technology companies in developed countries, such as the U.S. and leading European Countries, the depth sensing market is witnessing positive growth in the developed regions. However, the unprecedented surge in the sales of next-generation consumer electronics has attracted global giants in the technology industry to invest in developing countries. Thereby, exponentially increasing demand for technologically advanced consumer electronic products, such as gaming headsets, laptops, and smartphones, in developing countries in the Asia Pacific region is expected to boost the incremental growth of the depth sensing market in the region.
Ever-expanding Smartphones Market will Generate Positive Growth Opportunities
Depth imaging features of smartphone cameras is one of the most prominent applications of the depth sensing technology, and growing popularity depth imaging features is expected to augur well for growth of the depth sensing market in coming future. Leading players in the depth sensing market are aiming to capitalize on increasing growth of the smartphones market, especially in the emerging economies, to gain momentum in the market.
Another important factor, which is triggering growth of the depth sensing market with rapidly-expanding smartphones industry, is the advantages of depth sensing is providing accurate sizing in customized applications of 3D body shape scanning. Discovery of such advanced features of depth sensing applications in smartphones and incremental growth prospects of the smartphones industry will provide an impetus to growth of the depth sensing market in the coming future.
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Depth Sensing Market Segmentation
The depth sensing market is segmented according to:
- Product types
- Component types
- End-use industries
Based on technology, the depth sensing market is segmented into:
- Structured Light
- Stereo Vision
Based on the product types, the depth sensing market is segmented into:
Based on the component types, the depth sensing market is segmented into:
- Camera/Lens Module
Based on the end-use industries, the depth sensing market is segmented into:
- Consumer Electronics
- Building Automation
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