Depth Sensing Market Report 2022: Sector to Reach US$ 16.1 Billion by 2032 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Rising Demand for Smartphones and Growing Popularity of AR/VR Technology to Push Depth Sensing Market. The USA depth sensing market is expected to reach US$ 2.2 billion by 2032. Rising usage of depth sensing technology across defence and consumer electronics sectors is driving the USA Depth Sensing market.
DUBAI, United Arab Emirates, March 20, 2023 (GLOBE NEWSWIRE) -- The global depth sensing market size reached US$ 10.3 billion in 2022. Over the next ten years (2022 and 2032), global depth sensing demand is forecast to surge at 4.5% CAGR. Accordingly, by the end of 2032, the global market valuation will reach US$ 16.1 billion.
Camera/lens module segment currently dominates the global depth sensing industry. Between 2022 and 2032, the target segment is likely to expand at 4.4% CAGR.
Rising demand for smartphones and developments in augmented reality (AR) and virtual reality (VR) will drive the market. Subsequently, growing usage of depth sensing in automotive and defense sectors will boost sales.
Depth sensing is being used in a wide variety of applications. The most prominent application is in the development of AR/VR technology and in-camera modules of smartphones. It is also being used for people counting and navigation systems for unmanned robotic vehicles.
With smartphone manufacturers developing better facial recognition and gesture control, demand for smartphones will rise significantly. This will boost the global depth sensing industry.
Along with being used in smartphones, depth sensing finds application in autonomous/self-driving cars. It enables the car to perceive the depth of the surroundings along with the speed, position, and distance of the nearby objects.
Depth sensing technology also finds application in defense & military sectors. It is used by military for surveillance and monitoring enemy activities. Hence, growing adoption across defense & military industry will elevate depth sensing demand.
Developments in AR and VR have led to an increase in their popularity and implementation within the gaming industry. Growth of gaming and smartphone industries will create lucrative growth opportunities for depth sensing companies.
Key Takeaways from the Depth Sensing Market Report:
The global depth sensing industry will thrive at 5% CAGR during the projection period.
By component, camera/lens module segment is likely to expand at 4% CAGR through 2032.
By technology, time of flight segment will rise at 3% CAGR between 2022 and 2032.
The United States depth sensing market is forecast to cross US$ 2.2 billion mark by 2032.
Depth sensing demand in Japan will increase at 8% CAGR over the next decade.
China depth sensing industry is forecast to reach around US$ 4.3 billion by 2032.
Sales in South Korea market are set to surge at 1% CAGR over the next ten years.
“Increasing demand for smartphones worldwide will provide impetus to depth sensing market. Besides this, growing popularity of augmented reality (AV) and virtual reality (VR) will boost sales.” Says a lead Future Market Insights analyst.
Who is Winning?
Sony, Become Bluetechnix GmbH, Infineon Technologies, Qualcomm, Texas Instruments, Creative Technology Ltd., Intel, Stereolabs, Pmdtechnologies AG, Espros Photonics Corporation are few of the leading companies in the depth sensing market.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the depth sensing market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals extensive growth in the depth sensing market based on type (active depth sensing and passive depth sensing), technology (stereo vision, structured light, time of flight), and component (camera/lens module, sensor, illuminator) across several regions.
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