iCrowd Newswire – Jul 15, 2020
The market for 3D image sensor is forecast to reach $2.2 billion by 2025, growing at a CAGR of 8.30% from 2020 to 2025. The significant rise in demand for 3D image sensors in medical imaging solutions is set boost the market growth rate during the forecast period 2020-2025. 3d image sensors are majorly built on the basis of stereovision and ToF sensors thereby providing high image quality suitable for various applications. Owing to their significant use in these devices as well as other consumer electronics, the growing adoption of smartphones and cameras is set to impact on the growth of the CMOS 3D image sensor market.
By End user- Segment Analysis
Consumer electronics is analysed to be the major shareholder in the 3D image sensor market owing to the wide spread applications of these in various devices. In order to take advantage of increasing technological advancements, the provision of Augmented and virtual reality is integrated with 3D image sensors in smartphones. In 2019, Apple has planned to release a smart phone with 3D image sensors in the rear camera to support AR based applications. Adding to this, automotive industry is analysed to grow at a significant rate owing to the conspicuous requirement of the 3D image sensor employment in the ADAS. In 2019, the Government of India mandated features such as speed alert, reverse parking sensors, and others as standard for any vehicle. These regulations due to the deployment of 3D image sensor in these technologies are set to boost the market during the forecast period 2020-2025.
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Geography – Segment Analysis
North America is analysed to be the dominant region in 2019, followed by APAC and Europe. This is mainly attributed to the vast research and developments activities in the region alongside the large infrastructural development. The presence of major players in the region is also contributing to the market share of the region. The growing demand and investments for self-driving cars that highly employ 3D image sensors in the region is also analysed to be key factor driving the market. Adding to this, APAC, the major shareholder in the automotive sector due to the high deployment of the 3D image sensor in advanced vehicle technologies is witnessing increased growth rate of the 3D Image Sensor market. Moreover APAC is the major hub for manufacturing of the consumer electronics such as mobile phones and computers; and the rising penetration of the 3D technologies in these products is set to escalate the market growth rate during the forecast period 2020-2025.
Drivers – 3D image sensor market
Growing demand for image sensors in automobiles
The increasing demand for automation in the automotive industries is set to certainly contribute to the growth of the market. The 3D image sensors are highly employed in ADAS systems in monitoring and automation applications thereby impacting on the growth of the market. In February 2020, Continental AG, announced plans to invest $110M to build a manufacturing plant in Texas, to manufacture and produce products for advanced driver assistance systems (ADAS). Therefore the significant usage of 3D image sensors in the ADAS systems alongside the growing investments is set to boost the market during the forecast period 2020-2025.
Increasing demand for image sensors in the medical field:
The significant rise in the demand for image sensors in the surgical instruments is set boost the market growth rate during the forecast period. In June 2017, Omivision has launched OV6948, image sensor for wide range of applications, including dental, veterinary, forensic and so on. These image sensors overcome many challenges posed by reusable medical imaging equipment, including cross-contamination risks and inefficiencies due to high maintenance costs. Owing to these advantages, the growing demand for the miniature surgical equipment is set to boost the growth rate during the forecast period 2020-2025.
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Challenges – 3D image sensor market
High Costs incurred in manufacturing
The manufacturing process of 3D image sensor involves high end machinery resulting in high manufacturing cost. Therefore the difficult manufacturing processes alongside the requirement of complex machinery is set to impact on the production of the 3D image sensors thereby hindering the growth of the market during the forecast period 2020-2025.
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the 3D image sensor market. 3D image sensor driver market is expected to be dominated by major companies such as OmniVision Technologies Inc., Aptina Imaging Corp., Samsung Semiconductor, Micron Technologies, Sony Semiconductor Corp., Hamamatsu Avago Technologies, and Magna Chips among others.
In June 2019, Infenion has launched 3D image sensor solution for the mobile devices named the REAL3 IRS2381C. This image sensor offers a premium, stable, real-time 3D viewing experience that delivers outstanding performance irrespective of lighting conditions.
In April 2018, SICK has launched a configurable, plug-and-play 3D detection sensor based on its Visionary-T range of 3D imaging cameras.
Consumer electronics sector holds the highest market share in 2019. This is majorly attributed to the applications of 3D image sensors in various devices such as mobiles, wearables and so on.
APAC is analysed to hold highest share in 2019 owing to the high presence of consumer electronics, automotive and medical manufacturing industries.
The rising demand for image sensors in medical equipment such as surgical instruments and robotics is set to elevate the 3D image sensors market during the forecast period.
Ingestible Sensors Market
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