Press release
Depth Sensing Market - Global Industry Analysis, Growth, Trends And Forecast, 2021-2031
The depth-sensing market is likely to witness exponential growth across the forecast period of 2021-2031. Depth sensing technology has fluttered its wings across the globe on a large scale. The rising popularity and adoption of new applications such as AR/VR may escalate the depth-sensing devices construct the 3D virtual world. For seamless and smooth functioning of all the depth-sensing functionalities, an automated solution is necessary. Thus, all these factors have a large impact on the growth of the depth sensing market.Depth sensing technology is applied in robotics and automated vehicles for mapping, navigation, and preventing them from collision. The applications such as gesture detection, face recognition, and gaming security can be used for the smooth functioning of depth-sensing technology without the intervention of humans. Thus, all these factors bring tremendous growth opportunities for the depth sensing market
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Based on components depth sensing market can be segmented into sensor, camera/lens module, and illuminator. By technology, it is segmented into structured, stereo vision, and time flight. Further, by end-use, it can be categorized into automotive, consumer electronics, medical, industrial, building automation, and others. The large-scale utilization of depth-sensing across these applications will bring extensive growth opportunities through the forecast period of 2021-2031.
Important developments and advancements in the depth sensing market are included in the report. This study offers cumulative information to the market players in a systematic manner. The Industrial Dimensions, Emerging Trends, Major Developments, Geographical Landscape, and Potential Threats are the parameters of analysis conducted by the team at TMR. The report also includes details about the COVID-19 outbreak effect on the depth sensing market. The consequences of the outbreak have been included in this report in detail.
The growing awareness of depth-sensing among a massive chunk of the populace may serve as a vital growth prospect during the forecast period of 2021-2031. The high penetration of depth-sensing technology across sectors like building automation, consumer electronics, automotive, medical, and others will invite great growth opportunities for the depth sensing market.
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The wide application of depth-sensing in different sectors such as robotics, automation, electronics, and surveillance, defense, and motion detectors may boost the growth of the depth sensing market.
The outbreak of COVID-19 had an adverse effect on all sectors due to lockdowns and restrictions but the situation is gradually improving and may render good growth to the depth sensing market.
The players in the depth sensing market are involved in intense research and development activities. They are bringing in new innovations such as a combination of depth sensing technology with computer vision for improving CV algorithms. These activities play a crucial role in terms of upgrading the depth sensing according to the changing times.
Strategic collaborations and novel product launch also help the players in the depth sensing market to gain extensive growth. For instance, uDepth Real time 3D Depth sensing on pixel 4 has a different approach that helps the authentication system identify the user. Such developments may bring immense growth prospects for the depth sensing market.
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Some well-established players in the depth sensing market are LIPS Corporation, Sunny Optical Technology, Prime Sense, ASUSTeK Computer, Tower semiconductor, BECOM, Infineon Technologies, Texas Instruments, and others.
On the basis of regions the depth sensing market is segmented into North America, Asia Pacific, Europe, and the Rest of the world. The depth sensing market in Asia Pacific may be at the forefront across the assessment period of 2021-2031 due to its large consumer base in the consumer electronics segment. The growing influence of depth sensing across numerous companies in the region may prove to be a crucial growth contributor to the depth sensing market in Europe. North America may show substantial growth due to the innovations in depth sensing technologies in this region.
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