The time-of-flight sensor market size is projected to reach US$ 15574.54 million by 2031 from US$ 4273.66 million in 2023. The market is expected to register a CAGR of 17.5 % during 2023–2031. Rising adoption of time-of-flight technology in smartphones is likely to remain a key trend in the market.
Time-of-Flight Sensor Market Analysis
The demand for ToF sensors is increasing due to their rising use in the automotive industry. The technology is used to monitor the driver's behavior, which helps prevent road accidents and improve vehicle safety. In addition, the demand for the sensors is increasing in other industries, such as consumer electronics, healthcare, gaming & entertainment, and aerospace & defense. As a result, the market players are coming up with advanced ToF sensors. In February 2020, Panasonic Corporation announced that they had developed a time-of-flight image sensor that uses avalanche photodiode (APD) pixels. It can acquire highly accurate 3D information according to the position of objects from near to far distances up to 250 m. These sensors can be applied in various fields, such as automotive range imaging and wide-area surveillance.
Time-of-Flight Sensor Market Overview
Time-of-flight (ToF) sensors are used to measure the time taken by an object to travel a distance through a medium. It calculates the time difference between the emission of a signal and its return to the sensor after being reflected by an object. The sensor is used for various applications, including robot navigation, people counting, vehicle monitoring, and object detection. It is an all-in-one system for cost-effective, easy, and small-footprint integration. It provides true distance measurement without depending on the target size, color, and reflectance. In addition, ToF sensors use lasers to measure long distances and range with great precision.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Time-of-Flight Sensor Market: Strategic Insights
Market Size Value in US$ 3,204.98 million in 2022 Market Size Value by US$ 8,426.63 million by 2028 Growth rate CAGR of 17.5% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Time-of-Flight Sensor Market: Strategic Insights
Market Size Value in | US$ 3,204.98 million in 2022 |
Market Size Value by | US$ 8,426.63 million by 2028 |
Growth rate | CAGR of 17.5% from 2022 to 2028 |
Forecast Period | 2022-2028 |
Base Year | 2022 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystTime-of-Flight Sensor Market Drivers and Opportunities
Growing Use of Time-of-Flight Sensors for Automotive Applications
Along with the developments in vehicle safety, the ToF technology offers convenience and comfort inside the car cabin, which may benefit drivers and passengers. The seats can be moved, and seat belts can be brought closer when the passenger gets into the car. It can also help the driver or passenger by turning on the light of the storage compartments when a hand reaches in that direction. Thus, the increasing use of ToF sensors for automotive applications is boosting the growth of the time-of-flight sensor market.
Increasing Use of Time-of-Flight Technology in Autonomous Mobile Robots
In warehouse operations, time-of-flight cameras can provide superior intelligence for Autonomous Mobile Robots (AMRs) and Automated Guided Vehicles (AGVs). The cameras can be used to observe the surroundings and capture depth imaging data, which further enhances business-critical functions with accuracy, convenience, and speed. The camera has various functions such as localization, mapping, obstacle avoidance, navigation, object detection, and odometry. The demand for time-of-flight cameras is increasing, enabling the market players to obtain technologically advanced time-of-flight cameras. Thus, such innovations by the market participants and the increasing adoption of time-of-flight sensors in AMRs are creating create lucrative opportunities for the time-of-flight sensors market.
Time-of-Flight Sensor Market Report Segmentation Analysis
Key segments that contributed to the derivation of the time-of-flight sensor market analysis are device type and vertical.
- Based on the device type, the time-of-flight sensor market is divided into RF-modulated light sources with phase detectors, range-gated imagers, direct time-of-flight imagers. The software segment held a larger market share in 2023.
- By vertical, the market is segmented into automotive, consumer electronics, gaming and entertainment, industrial, healthcare, aerospace and defense, others.
Time-of-Flight Sensor Market Share Analysis by Geography
The geographic scope of the time-of-flight sensor market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. The North American market is attributed to the growing demand for time-of-flight (ToF) sensors in automotive and consumer electronics applications. Some of the safety functions offered by the ToF camera are NCAP-mandated driver fatigue detection, body pose, eye gaze, hands-on-wheel detection, advanced seat-belt application, and head pose. The safety function of the time-of-flight sensor is beneficial for road accidents. Due to the increasing awareness of safety functions, the demand for vehicles integrated with the ToF camera is rising in the North American region.
Time-of-Flight Sensor Market Report Scope
Time-of-Flight Sensor Market News and Recent Developments
The time-of-flight sensor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the time-of-flight sensor market are listed below:
- STMicroelectronics introduced new high-resolution time-of-flight sensors for advanced 3D depth imaging for smartphones and other devices. The VD55H1 sensor maps 3D surfaces by measuring the distance to approximately half a million points and enables detection of objects up to 5 m from the sensor.(Source: STMicroelectronics, Press Release, MArch 2022.)
- TDK Corporation launched the Chirp ICU-10201 and ICU-20201, ultra-low power and high-performance integrated ultrasonic time-of-flight sensors for long and short range detection. The company states that new MEMS sensors offer accurate range measurements up to a distance of 5 m over a wide and configurable field of view. (Source: TDK Corporation, Press Release, January 2022)
Time-of-Flight Sensor Market Report Coverage and Deliverables
The “Time-of-Flight Sensor Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Time-of-flight sensor market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Time-of-flight sensor market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- time-of-flight sensor market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the time-of-flight sensor market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Device Type, Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The expected CAGR of the global time-of-flight sensor market is 17.5 %.
The global time-of-flight sensor market is expected to reach US$ 15574.54 million by 2031.
The key players holding majority shares in the global time-of-flight sensor market are OMRON Corp, STMicroelectronics NV, Keyence Corp, Teledyne e2v (Overseas), Holdings Ltd, Texas Instruments Inc, InvenSense Inc, Panasonic Holdings Corp, Analog Devices Inc, Sony Group Corp, and Infineon Technologies AG.
Rising adoption of time-of-flight technology in smartphones is anticipated to play a significant role in the global time-of-flight sensor market in the coming years.
Growing use of time-of-flight sensors for automotive applications and increasing use of time-of-flight technology in autonomous mobile robots are the major factors that propel the global time-of-flight sensor market.
North America dominates the time-of-flight sensor market.
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.
Trends and growth analysis reports related to Time-of-Flight Sensor Market
Aug 2024
Automotive Board to Board Connector Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Pin Headers, Sockets, Floating Connector, and Card Edge Connector), Pin Headers (Stacked Headers and Shrouded Headers), Application (Powertrain Control Systems, Infotainment and Navigation Systems, Advanced Driver Assistance Systems (ADAS), Electric Vehicles (EV) and Hybrid Vehicle Systems, Lighting Control Systems, Autonomous Vehicles, and Others), Pitch (Less Than 1 mm, 1–2 mm, and More Than 2 mm), Number of Pin (2–12 Pin, 13–30 Pin, 31–50 Pin, 51–100 Pin, and 100+ Pin), and Geography
Aug 2024
Radiation Hardened Motor Controller and Motor Drive Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Motor Controller and Motor Drive), Motor Drive (AC Drive, DC Drive, and BLDC), Application (Space Exploration, Military and Defense, Nuclear Power Plants, and Others), and Geography
Aug 2024
Pluggable Optics for Data Center Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Switches, Routers, and Servers), Data Rate (100–400 Gb/s, 400–800 Gb/s, and 800 Gb/s and above), and Geography
Aug 2024
LED Flashlight Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Rechargeable LED Flashlight and Non-Rechargeable LED Flashlight), Product (Everyday Carry Flashlights, Tactical Flashlights, and Safety Flashlights), Application (Residential, Commercial, and Military and Law Enforcement), and Geography
Aug 2024
Collaborative Robots Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Payload (5–10 Kgs, Up to 5 Kgs, and Above 10 Kgs), Application (Assembly, Pick and Place, Material Handling, Quality Testing, Machine Tending, Welding, Packaging, and Others), Type (Robotic Arm, Welding Guns, Grippers, and Others), End-user Industry (Automotive, Electronics, Metal and Machinery, Food and Beverage, Logistics, Pharmaceuticals, and Others), Functionality (Static Robot and Mobile Robot), and Geography
Aug 2024
Analog to Digital Converter Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Integrating Analog to Digital Converters, Delta-Sigma Analog to Digital Converters, Successive Approximation Analog to Digital Converters, Ramp Analog to Digital Converters, and Others), Resolution (8-Bit, 10-Bit, 12-Bit, 14-Bit, 16-Bit, and Others), and Application (Industrial, Consumer Electronics, Automotive, Healthcare, Telecommunication, and Others), and Geography
Aug 2024
Adaptive Traffic Control System Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Hardware, Software, and Services), Component (OPAC, SCOOT, RHODES, and SCATS), and Application [Highways and Urban (Cities)] and Geography
Aug 2024
3D Audio Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services) and End Use Industries (Consumer Electronics, Automotive, Media and Entertainment, Gaming, and Others)