New York, July 11, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global 3D Time-of-Flight Image Sensor Market” published by Consegic Business Intelligence, the market was worth USD 412.16 Million in 2022 and is anticipated to reach over USD 694.04 Million by the year 2030, growing at a CAGR of 6.9%.
A 3D time-of-flight (TOF) image sensor measures the distance between the sensor and objects in the field of view by using the principle of time-of-flight. The sensor estimates the distance by measuring the time taken by light to travel from the sensor to the object and back to the sensor. Additionally, the 3D TOF image sensor is utilized for various applications, including gesture recognition, object tracking, augmented reality, and robotics, among others.
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The increasing demand for 3D time-of-flight sensor from the consumer electronics industry to provide accurate depth information to the user is driving the growth of the market. Additionally, the advancements in technology including the emergence of the wide Field of View (FoV) feature to capture a larger area at the same distance is further contributing to the market growth. Moreover, the increasing adoption of 3D time-of-flight image sensors in various sectors namely warehouses, metrology, and robotics are further contributing to the market growth. For instance, in March 2023, LUCID Vision Labs, Inc. launched Helios2 wide 3D time-of-flight camera with Sony’s DepthSense IMX556PLR TOF image sensor to provide a 108° field of view to the user. The wider field-of-view angle offers improved flexibility and is increasingly adopted in the robotics and metrology sector, thus contributing remarkably in accelerating the market growth.
Moreover, the integration of 3D time-of-flight image sensors with advanced driver-assistance systems (ADAS) is expected to create opportunities for market growth. The sensors provide depth information, enabling better perception of the distance and size of objects, crucial for collision avoidance, lane-keeping, and adaptive cruise control systems. However, the presence of alternatives including stereo vision cameras to offer higher resolution and longer-range depth sensing capabilities is hampering the market growth.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 694.04 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 6.9% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Teledyne Technologies, Panasonic Corporation, e-con Systems, Texas Instruments, STMicroelectronics N.V. , ESPROS Photonics Corporation, PMD Technologies, Infineon Technologies, Prime Sense, Ifm Electronic, Melexis |
| By Product Type | Quarter Video Graphics Array (QVGA), Quarter QVGA (QQVGA), Half Quarter Video Graphics Array (HQVGA), Video Graphics Array (VGA), and Mega Pixel (MP) |
| By Application | Robot Navigation, Indoor Navigation, Reactive Altimeters, Obstacle Avoidance, Vehicle Monitoring, Machine Vision, Object Tracking, Augmented Reality and Virtual Reality, Gesture Control, Others |
| By End-User | Automotive, Consumer Electronics, Healthcare, Aerospace and Defense, and Entertainment |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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3D Time-of-Flight Image Sensor Market Growth Drivers:
- Increasing demand of 3D time-of-flight image sensors from the consumer electronics industry to provide precise depth information is propelling the market growth.
- Growing demand of 3D time-of-flight image sensors from the industrial automation and robotics sector to enable precise object detection is accelerating the market growth.
- The ability of 3D TOF sensors to enhance vehicle safety by providing real-time data for automatic emergency braking, lane departure warning, and adaptive cruise control systems is driving the market growth.
Restraints
- Inadequate functioning of 3D time-of-flight (TOF) image sensors in low lighting conditions is restraining market growth.
- Presence of alternatives including stereo vision cameras to offer higher resolution and longer-range depth sensing capabilities is hampering the market growth.
Opportunities
- Integration of 3D time-of-flight image sensors with advanced driver-assistance systems (ADAS) to provide depth information, crucial for collision avoidance, lane-keeping, and adaptive cruise control systems is expected to create opportunities for the market growth.
Global 3D Time-of-Flight Image Sensor Market Segmentation Details:
Based on Product Type, the megapixel resolution segment contributed the largest shares to the market growth in 2022. The growth is attributed to the ability of megapixel resolution to offer a balance between image quality and data processing requirements. Additionally, the megapixels are employed in a wide range of devices including smartphones, tablets, webcams, and entry-level surveillance cameras, thus contributing significantly in driving the growth of the market.
Based on Application, the machine vision segment offered substantial shares to the global 3D time-of-flight image sensor market in the year 2022. The growth is attributed to the ability of 3D TOF sensors to enable precise identification and localization of objects, by capturing depth information in addition to color and intensity. In addition, 3D time-of-flight sensors also play a significant role in robotic navigation, motion planning, and object manipulation tasks. The sensors provide real-time depth perception, allowing robots to accurately perceive the surroundings and interact with objects, hence contributing notably in propelling the market growth.
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Based on End-User, the consumer electronics segment holds the maximum share to the market growth in the year 2022. The growth is attributed to the increasing adoption of 3D TOF image sensors for facial recognition in consumer electronics including smartphones, tablets, and laptops. Additionally, 3D TOF sensors enable accurate and secure authentication and unlocking of devices by capturing depth information of the user's face, thus enhancing user convenience and improving device security.
Based on Region, North America has been a major contributor to the growth of the 3D time-of-flight image sensor market. The growth is attributed to the early adoption of advanced technologies and a strong consumer electronics market. The expanding consumer electronics industry leads to the rapid adoption of 3D TOF image sensors in various applications, including smartphones, tablets, gaming consoles, and other consumer electronic devices. Additionally, North America has a strong presence of leading technology companies and research institutions that drive innovation in the field of 3D time-of-flight image sensors. Consequently, the early adoption of advanced technologies, expanding consumer electronics industry, and the presence of key players are collectively responsible in spurring the market growth in the region.
Recent Developments
- In January 2023, Teledyne e2v launched Hydra3D+, an advanced 3D time-of-flight CMOS image sensor with 832x600 pixel resolution and high sensitivity in the NIR (Near-Infrared) wavelength. The sensor provides real-time information and is widely employed in applications including factory automation, logistics, and factory safety.
- In May 2022, e-con Systems introduced DepthVista, a 3D time-of-flight depth sensor capable of capturing 640×480 depth maps at a frame rate of 30 fps. Additionally, the sensor is designed to function efficiently in low light or even complete darkness and is suitable for applications including autonomous guided vehicles.
Key Market Highlights
- The global 3D time-of-flight image sensor market size is estimated to reach USD 694.04 Million by 2030 and grow at a CAGR of 6.9% during the forecast period (2023-2030).
- Globally, the 3D time-of-flight image sensor is divided based on the product type into Quarter Video Graphics Array (QVGA), Quarter QVGA (QQVGA), Half Quarter Video Graphics Array (HQVGA), Video Graphics Array (VGA), and Mega Pixel (MP).
- In the context of the application, the market is separated into robot navigation, indoor navigation, reactive altimeters, obstacle avoidance, vehicle monitoring, machine vision, object tracking, augmented reality and virtual reality, gesture control, and others.
- The end-user segment of the 3D time-of-flight image sensor is classified into automotive, consumer electronics, healthcare, aerospace and defense, and entertainment.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in 3D time-of-flight image sensors.
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List of Major Global 3D Time-of-Flight Image Sensor Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new machines. The following are major market players operating in the market environment —
- Teledyne Technologies
- Panasonic Corporation
- e-con Systems
- Texas Instruments
- STMicroelectronics N.V.
- ESPROS Photonics Corporation
- PMD Technologies
- Infineon Technologies
- Prime Sense
- Ifm Electronic
- Melexis
Global 3D Time-of-Flight Image Sensor Market Segmentation:
- By Product Type
- Quarter Video Graphics Array (QVGA)
- Quarter QVGA (QQVGA)
- Half Quarter Video Graphics Array (HQVGA)
- Video Graphics Array (VGA)
- Mega Pixel (MP)
- By Application
- Robot Navigation
- Indoor Navigation
- Reactive Altimeters
- Obstacle Avoidance
- Vehicle Monitoring
- Machine Vision
- Object Tracking
- Augmented Reality and Virtual Reality
- Gesture Control
- Others
- By End-User
- Automotive
- Consumer Electronics
- Healthcare
- Aerospace and Defense
- Entertainment
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Key Questions Covered in the 3D Time-of-Flight Image Sensor Market Report
- What will be the potential market valuation for the 3D time-of-flight image sensor industry by 2030?
- The market valuation for the 3D time-of-flight image sensor is expected to be approximately USD 694.04 Million by 2030.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the 3D time-of-flight image sensor market's growth in the coming years?
- Asia-Pacific is anticipated to witness the largest impact on the 3D time-of-flight image sensor market owing to the expanding automotive industry that raises the demand of 3D TOF image sensors in ADAS applications namely object detection, pedestrian detection, and lane departure warning.
- What specific segmentation details are covered in the 3D time-of-flight image sensor market report, and how is the dominating segment impacting the market growth?
- Machine vision dominates the market by application as 3D time-of-flight image sensors accurately detect and recognize objects in machine vision applications. TOF sensors enable precise identification and localization of objects, by capturing depth information in addition to color and intensity, even in complex environments.
- What specific segmentation details are covered in the 3D time-of-flight image sensor market report, and how is the fastest segment anticipated to impact the market growth?
- The automotive industry is projected to register the fastest CAGR owing to the increasing adoption of 3D TOF image sensors in advanced driver-assistance systems to enable accurate object detection, pedestrian detection, and collision avoidance systems.
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