Depth Sensing Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Depth Sensing Market in 2021?

The global depth sensing market is expected to reach a market size of USD 2.56 billion in 2021 with a Compound Annual Growth Rate (CAGR) of 14.2%. This growth can be attributed to the increasing demand for depth sensing technology in various industries such as consumer electronics, automotive, healthcare, and industrial applications.

COVID-19 Impact on the Depth Sensing Market

The COVID-19 pandemic has had a significant impact on the depth sensing market. With lockdowns and restrictions in place, the manufacturing and supply chain of depth sensing devices have been disrupted. However, the demand for depth sensing technology has increased in sectors like healthcare and robotics to enable contactless interactions and monitoring.

Depth Sensing Dynamics

The depth sensing market is driven by the growing adoption of 3D imaging technology in smartphones, augmented reality (AR) and virtual reality (VR) applications, and autonomous vehicles. Companies are investing in research and development for advanced depth sensing solutions to cater to the evolving needs of various industries.

Segments and Related Analysis

The depth sensing market can be segmented based on technology, type, component, application, and end-user. Technologies include structured light, time-of-flight, and stereo vision. Types of depth sensing cameras include passive and active cameras. Components consist of sensors, illuminators, and lenses.

By Region Analysis

The depth sensing market is analyzed based on regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America leads the market due to the presence of key players and technological advancements. Asia Pacific is expected to witness significant growth owing to the increasing adoption of depth sensing technology in emerging economies.

Key Market Players and Competitive Landscape

Prominent companies in the depth sensing market include Infineon Technologies, Qualcomm Technologies, STMicroelectronics, Sony Depthsensing Solutions, and Intel Corporation. These players focus on product innovation, partnerships, and acquisitions to strengthen their market position and meet the growing demand for depth sensing solutions.

Recent Happenings in the Depth Sensing Market

In recent developments, Intel introduced RealSense Depth Camera L515 for industrial 3D scanning applications. Qualcomm announced the Snapdragon Sight platform for depth sensing and AI capabilities in mobile devices. Sony Depthsensing Solutions launched ToF technology for AR applications. These advancements signify the continuous evolution and growth of the depth sensing market.