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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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.