Smart homes have become increasingly prominent and common, owing to their effective energy-saving technologies and the ability to make a home more secure for consumers. These factors have provided impetus to the smart homes market growth, which, according to IndustryARC’s analysis, was estimated to have earned a market revenue of $70 billion to $75 billion in 2018. These smart homes would be incomplete without the use of 3D sensors that are now being employed to make these homes safer and more useful to the consumers they cater to especially the geriatric population and handicapped society who often need technological assistance for living a smooth life. Key market players of the 3D sensing market are now investing resources in R&D to increase the application of these sensors in smart homes. In a first, Vayyar Imaging, a 3D imaging sensor manufacturing company has been testing 3D sensors in smart homes that is technologically capable of seeing through walls, detect motion of multiple individuals, and record vital signs with more accuracy. This makes the home environment more secure, as intruder visits can be monitored easily, thus notifying the owner if suspicious activity has been noted inside the house. The 3D sensors market is therefore, witnessing prolific growth, owing to their rising application in several other technological products. During the forecast period of 2019-2025, the 3D sensors market has been evaluated to expand at a CAGR of 6.8%, and in 2018, the market earned a revenue of $1.3 billion.
Based on end-users, the 3D Sensors Market is segmented into consumer electronics, automotive, industrial automation, robotics, telecommunication industry, medical devices, aerospace, defense, and others. In the telecommunication industry, wireless sensor networks are now being deployed for better communication with nearby located devices. With technological advancements, the addition of 3D sensors in the automotive industry has taken place at a fast pace. With the use of echo-location, 3D sensors can detect vehicular activity, with precision which has helped in the growth of automated driving assistance systems. The automotive end user segment has therefore been evaluated as the most promising segment and observe a growth at a CAGR of 8.7%, during the forecast period 2019-2025.
The APAC region has emerged as the geographical leader of the 3D sensors market, with an estimated share of 32.56% out of the total revenue earned by the market globally in 2018. The automotive industry in the APAC is flourishing at an extraordinary rate. China has established itself as a global manufacturing hub of automotive parts in the country. Moreover, both Japan and China have spent the last decade in increasing electronics and automotive industrial units that could cater the global demand. With a growing focus on increasing automotive mobility and seeping of process automation into vehicle, China is experiencing a high demand for car manufacturing from around the world. Automotive companies around the world have recognized the manufacturing potential of Asian countries and started investing in APAC units. Recently, Tesla motors announced the launch of a Gigafactory in Shanghai, China which will also focus on production of batteries used in the automotive industry.
3D Sensors Market: Growth Drivers and Trends
· Aerospace and Defense Sectors Driven By Sensors Innovation
The aerospace industry is booming with passengers resorting to take flights over other modes of transportation for saving time. This has increased traffic of flights and the airspace is filled with several flights simultaneously. According to the Federal Aviation Administration, approximately 44,000 flights are handled by the administration on a daily basis. Moreover, 5,000 aircrafts are at the sky at any given time in the U.S. airspace. These statistics are alarming and are reflective of rising air traffic that immediately require innovations for averting accidents. Thanks to sensor technologies, the accident rate of flights has been falling steadily. According to the International Civil Aviation Organization, a United Nations specialized agency, the current rate for commercial flight accidents stands at 1.75%. This has been a remarkable improvement over 4.7% in 2008, when flights were not equipped with sensor technologies. 3D sensors allow real-time sensing of foreign objects that are likely to impact flight’s smooth functioning. These sensors are also used in aerospace cameras for enhanced imaging quality that could help in assessing the size, characteristics, and shape of objects and atmosphere that are in the vicinity of the flights. 3D sensors have therefore helped to inanimate aerospace objects in becoming automated which has highly benefitted the aviation industry, and helped in gaining trust of passengers. The Aerospace Industry will continue to serve as an important growth driver for the 3D sensor market.
· Use of 3D Sensors in Robotics
With increasing population and technological innovations, robotics has become an indispensable part of human life. Several industries are now openly accepting robots as a part of their ordinary workforce, which assists in completion of daily tasks and retention of seamless functioning of a manufacturing unit. In a first, robots called UVD Robot developed by Blue Ocean Robotics are now being used to kill hospital bugs, a problem which persists in hospitals around the world and spread communicable diseases. According to International Federation of Robots, approximately 384,000 industrial robots were deployed around the world in 2018. These robots largely reduce manual work, which is prone to errors and lack of efficiency. Industrial robots are used for assembly, picking and packing, and are now being extensively deployed in warehouses, where they reduce the manual workload to a great extent. The food and beverage industry has also found abundant applications of robots and have developed a symbiotic relationship with the robotics industry for faster production of products whilst assuring good quality. Robots will be incomplete without sensor technology as without sensors, they will be inanimate objects and will never be able to compete or outdo the human brain. This is why 3D sensors are used in robots for emulating human reflexes that are a result of sensing activities occurring in one’s surroundings. 3D sensors are used in robots for providing them with technologies such as 3D LIDAR, stereo vision cameras, and others, which will help robots in scanning surrounding areas with increased accuracy. Robotics have therefore enhanced the growth of the 3D sensors market, by increasingly deploying sensor technologies.
Major Players in the Market
Key market players of the 3D sensors market have an important role to play in extending the use of these sensors to several end-users. This can only be guaranteed with constant innovation that is also tested and measured at the same time for technological accuracy. These key market players who have played an important role in the growth of the 3D sensors market include Omnivision Technologies, Infineon Technologies, LMI Technologies, PrimeSense, Cognex Corporation, SoftKinetic, Pmdtechnologies GmbH, IFM Electronic, and Occipital Inc.
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