Market Highlights
Worldwide depth sensing market is expected to grow from USD 3.87 billion in 2017 to USD 7.43 billion by 2023, at a compound annual growth rate (CAGR) of 11.64% during the forecast period.
Depth sensing process involves measuring the distance of an object with the help of a depth sensor. Increasing demand for applications such as augmented reality and virtual reality, face recognition and gesture control are propelling the growth for depth sensing market. The global depth sensing market is growing at a significant pace, owing to factors such as increase in use of depth sensing technology in gaming applications and due to the rise in need for enhanced security and surveillance systems among end-users. However, high initial cost of sensor modules and high power consumption for processing are some factors restraining the depth sensing market Share growth. To overcome this drawback, the key players in depth sensing are trying to develop technologies such as time-of-flight, which is expected to consume less power.
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Key players
The prominent players in the depth sensing market are Texas Instruments (US), Intel (US), Qualcomm (US), Stereolabs (US), Infineon Technologies (Germany), Creative Technology (Singapore), pmdtechnologies AG (Germany), Espros Photonics Corporation (Switzerland), Sony Depthsensing Solutions (Belgium), and BECOM Bluetechnix GmbH (Austria).
Other players in the depth sensing market share are Aquifi (US), Nerian Vision Technologies (Germany), Melexis (Belgium), Tower semiconductor (Israel), Vrmagic Holding AG (Germany), Occipital (US), Sunny Optical Technology (China), PrimeSense (Israel), ASUSTeK Computer (Taiwan), and LIPS Corporation (Taiwan).
Regional Analysis
The global market for depth sensing is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of depth sensing market is covered for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the market owing to the increasing demand for depth sensing in consumer electronics applications which include smartphones, tablets and gaming headsets. North America is also expected to see significant growth during the forecast period due to the increased proliferation of video content and gaming and rise in demand for 3D imaging technology across the region. The growing adoption of 3D sensors is one of the major factors driving the growth of depth sensing market in this region. The implementation of 3D sensors is rising in various end-user industries such as automotive, healthcare and aerospace and defense and automotive.
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