DUBLIN--(BUSINESS WIRE)--The "Time-of-Flight (ToF) Sensor Market by Resolution (QQVGA, HQVGA, QVGA, & VGA), Application (Augmented Reality & Virtual Reality, LIDAR, Machine Vision, 3D Imaging & Scanning, and Robotics & Drone), Product Type, Vertical and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The ToF sensor market is expected to grow from USD 2.8 billion in 2020 to USD 6.9 billion by 2025, at a CAGR of 20.0%.
The growth of this market is mainly driven by the increasing demand for ToF sensors from the automotive industry and the growing adoption of 3D cameras in smartphones and the increasing use of such smartphones. The increasing adoption of 3D machine vision systems in industries such as healthcare, aerospace & defense, and consumer electronics and the rising deployment of Industry 4.0 is expected to provide major opportunities to the players in the ToF sensor market. However, extra costs associated with sensor solutions restrain the market growth.
Consumer electronics vertical to hold the largest share of ToF sensor market by 2025
The ToF sensor market for the consumer electronics vertical is expected to grow at the highest CAGR from 2020 to 2025. Rising demand for 3D-enabled devices in consumer electronics and increasing users of smartphones are the key factors for the growth of the ToF sensor market for consumer electronics.
Intelligence, reliability, low power consumption, low cost, and high integration are the drivers for the integration of ToF technology in consumer electronics such as computers, televisions, gaming consoles, cameras, camcorders, and smartphones. The rising demand for these devices is creating the demand for ToF sensors, which, in turn, would give an impetus to further advancements in the ToF technology.
APAC to be the largest market for ToF sensors by 2025
APAC is expected to hold the largest share of the ToF sensor market during the forecast period owing to the rapid industrialization and high adoption of consumer electronics including gaming consoles, PCs, and laptops in the region. Additionally, the easy availability of low-cost labor has led to increased manufacturing of different electronic components and devices in this region, thereby leading to the emergence of APAC as a global manufacturing hub.
This, in turn, has led to increased demand for ToF sensors for monitoring and inspection applications in the manufacturing industry of the region. All these factors are expected to drive the growth of the time-of-flight (ToF) sensors market in APAC.
- Increasing Adoption of ToF Sensors in Automobile Applications
- Increasing Demand for Smartphones Enabled With 3D Cameras
- Extra Costs Associated With Sensor Solutions
- Increasing Adoption of 3D Machine Vision Systems Across Various Industries
- Growing Deployment of Industry 4.0
- Fluctuations in Raw Material Prices
Value Chain Analysis
- Texas Instruments Incorporated
- STMicroelectronics N.V.
- Infineon Technologies
- Panasonic Corporation
- Teledyne Technologies Incorporated
- pmd Technologies AG
- Keyence Corporation
- Sharp Corporation
- Sony Corporation
- STMicroelectronics (Switzerland)
- Texas Instruments (US)
- Infineon Technologies (Germany)
- Panasonic Corporation (Japan)
- Melexis (Belgium)
- AMS AG
- Broadcom Inc. (Avago)
- Omron Corporation
- Renesas Electronics
- Espros Photonics
- Adafruit Industries
- Sparkfun Electronics
- Chirp Microsystems, Inc. (Tdk Corporation)
- Lucid Vision Labs, Inc.
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