3D Time-of-Flight Image Sensor Market Size and Share by 2031
The 3D time-of-flight image sensor market size is projected to reach US$ 167.8 million by 2031 from US$ 99.9 million in 2023. The market is expected to register a CAGR of 6.70% in 2023–2031. Growing demand for consumer electronic devices and flexibility & customization in robotic applications are likely to remain key global 3D time-of-flight image sensor market trends.
Global 3D Time-of-Flight Image Sensor Market Analysis
TOF systems designed for interior sensing generally offer a distance precision of 1% (equivalent to 1 cm) within a one-meter range using a single VCSEL. Utilizing time-of-flight (TOF) sensors in robotic applications offers numerous advantages. These sensors typically provide more accurate depth measurements compared to 2D camera video streams processed through image analysis. Additionally, TOF cameras are known for their lack of moving components, compact form factor, and cost-effective production. They are especially valuable for real-time applications, delivering exceptionally precise depth data at speeds of up to 60 frames per second.
Global 3D Time-of-Flight Image Sensor Market Overview
3D Time-of-Flight (TOF) image sensor technology is a revolutionary advancement within the machine vision industry. By utilizing a low-cost CMOS pixel array alongside an active modulated light source, this technology enables 3D imaging. It operates by measuring the time taken for light pulses to travel a distance through a medium. This groundbreaking innovation allows for the real-time acquisition of a genuine 3D depth map of the physical world. It effectively converts the scene, surroundings, and all objects within the captured image into digital space. The sensor's built-in algorithms are then used to measure the relative distance between any object and the light source, as well as the dimensions of the objects.
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3D Time-of-Flight Image Sensor Market: Strategic Insights
Market Size Value in US$ 72.2 Million in 2018 Market Size Value by US$ 127.5 Million by 2027 Growth rate CAGR of 6.7% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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3D Time-of-Flight Image Sensor Market: Strategic Insights
| Market Size Value in | US$ 72.2 Million in 2018 |
| Market Size Value by | US$ 127.5 Million by 2027 |
| Growth rate | CAGR of 6.7% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Global 3D Time-of-Flight Image Sensor Market Drivers and Opportunities
The Increasing Convergence Of Consumer Electronics Within The Automotive Industry And The Growing Requirements Of Autonomous Vehicles
The automotive sector has undergone significant changes to improve the driving experience. Today's vehicles are becoming smarter, capable of self-diagnostics, and more advanced in their communication with other entities on the road. Trends such as Advanced Driver Assistant Systems (ADAS), infotainment systems, and car telematics have been gaining traction in the automotive industry. These advancements are largely due to the sophistication and technological progress in the semiconductor industry. Additionally, the implementation of safety features has led to a decrease in car accidents and fatalities over the last decade. Vehicles now possess greater computing power, thanks to increased electronic integrations. The emergence of trends such as car telematics and user-friendly infotainment systems is being developed with a focus on driver and passenger safety. These systems are also enabling the detection of obstacles, navigation, and improved operation of the infotainment system within the vehicles. Moreover, the integration of 3D ToF sensors in automotive applications allows for advanced, user-friendly, and convenient operation of the infotainment system, including simple hand-swipe gestures for tasks such as changing music or radio channels while driving. As a result of these advancements, the demand for 3D time-of-flight sensors in the automotive market is projected to increase in the forecast period.
Technological Development in Biometrics and Security
The swift progress in technology within biometrics and security is expected to have a substantial impact on the need for 3D time-of-flight image sensors in the near future. This progress is influenced by various factors, such as advancements in biometrics technology, increasing public acceptance, and the rising demand for heightened security measures. The rapid technological advancement in biometrics and security is being propelled by progress in biometrics technology, which is hastening the adoption of biometric systems. For instance, newer systems are integrating artificial intelligence analysis to distinguish 3D images from counterfeit flat images, addressing limitations in biometric security and lessening barriers to adoption. Biometric technology utilizes measurable biological characteristics to verify digital user identity, encompassing fingerprint authentication, facial recognition, iris recognition, and DNA testing. Artificial intelligence is commonly employed to analyze data captured through biometrics tools and confirm its authenticity.
Global 3D Time-of-Flight Image Sensor Market Report Segmentation Analysis
Key segments that contributed to the derivation of the global 3D time-of-flight image sensor market analysis are type and application.
- Based on type, the market is segmented into Half-QQVGA ToF Image Sensor, QVGA ToF Image Sensor, VGA ToF Image Sensor, and 1 MP ToF Image Sensor. The QVGA ToF Image Sensor segment held a significant market share in 2023.
- By application, the market is segmented into consumer electronics, automotive, entertainment, machine vision and industrial automation, robotics and drones, and others. The consumer electronics segment held a substantial share of the market in 2023.
Global 3D Time-of-Flight Image Sensor Market Share Analysis by Geography
The geographic scope of the global 3D time-of-flight image sensor market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
The 3D time-of-flight image sensor market in Europe is experiencing significant growth driven by various applications and technological advancements. The European region is a key player in the worldwide market for 3D time-of-flight image sensors. The growing need for these sensors in industries such as automotive, consumer electronics, industrial automation, machine vision technology, and entertainment is a significant driver of market growth in Europe.
Global 3D Time-of-Flight Image Sensor Market Report Scope
Global 3D Time-of-Flight Image Sensor Market News and Recent Developments
The global 3D time-of-flight image sensor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- Building on a leading position in direct Time-of-Flight sensors, with two billion FlightSense™ devices sold, ST reveals new direct and indirect Time-of-Flight sensors for key applications like camera assist, virtual reality, 3D webcam, robotics, and smart buildings. Market-first true all-in-one dToF LiDAR module with up to 2.3k zones, targets smartphone camera-assist and AR/VR applications. The world’s smallest iToF sensor, with 672×804-pixel resolution, is now in volume production with a first design win at Lanxin Technology.
(Source: STMicroelectronics, Press Release, 2024)
Global 3D Time-of-Flight Image Sensor Market Report Coverage and Deliverables
The “Global 3D Time-of-Flight Image Sensor Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The market was estimated to be US$ 99.9 million in 2023 and is expected to grow at a CAGR of 6.70% during the forecast period 2023 - 2031.
Growing demand for consumer electronic devices and flexibility & customization in robotic applications are the major factors that propel the global 3D time-of-flight image sensor market.
Industrial automation and machine vision technology are anticipated to play a significant role in the global 3D time-of-flight image sensor market in the coming years.
The market is expected to reach US$ 167.8 million by 2031
The key players holding majority shares in the market are Adafruit Industries, AMS AG, ifm electronic gmbh, Infineon Technologies AG, and Keyence Corporation.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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