Stratview Research has published a new report titled “Time-of-Flight (ToF) Sensor Market” which is segmented by Device Type (RF-Modulated Light Sources With Phase Detectors, Range-Gated Imagers, and Direct Time-of-Flight Imagers), by Resolution Type (QQVGA, HQVGA, QVGA, and VGA), by Application Type (Augmented Reality & Virtual Reality, LiDAR, Machine Vision, 3D Imaging & Scanning, and Robotics & Drone), by End-Use Industry Type (Automotive, Consumer Electronics, Gaming & Entertainment, Industrial, Healthcare, and Aerospace & Defense), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market was estimated to grow from USD 3.6 Billion in 2021 to USD 12.8 Billion by 2028 at a healthy CAGR of 19.55% during the forecast period.
Time-of-Flight (ToF) Sensor is a remote sensing method, which uses an infrared light pulse to detect and measure distances very accurately by measuring the return time of the pulse.
Time-of-Flight (ToF) Sensor is a cost-effective technology that can measure long-range distances with high accuracy at a very faster rate. It has been used for a wide range of applications which can be classified into gesture and non-gesture.
Increasing penetration of ToF sensors in the automotive industry as they offer gesture control systems over a variety of functions to drivers and growing adoption of the ToF sensor technology in smartphones for features such as front-facial recognition and rear-facing applications are the key growth drivers of the market during the forecast period.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It thoroughly analyzes the market segments, including products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Application Type
The Time-of-Flight (ToF) sensor market is segmented as augmented reality & virtual reality, LiDAR, machine vision, 3D imaging & scanning, and robotics & drone.
The 3D imaging & scanning segment is expected to remain the largest and the fastest-growing segment of the market during the forecast period, owing to its increasing adoption due to ease of usage, and its growing application in phones and consumer devices.
By End-Use Industry Type
The market is segmented into automotive, consumer electronics, gaming & entertainment, industrial, healthcare, and aerospace & defense.
The consumer electronics segment is expected to remain the largest and the fastest-growing end-use industry type of market during the forecast period, owing to its increasing adoption of smartphones and consumer devices on account of its reliability, durability, and efficiency at a lower cost.
Which Region is expected to remain the largest market?
Asia-Pacific is expected to remain the dominant as well as the fastest-growing region in the market over the coming five years owing to the fastest-growing automotive industry, largest consumer electronics, healthcare, and pacing aerospace & defense industry in the region. Industrialization, urbanization, and rising disposable income in emerging economies will significantly continue to propel the demand for Time-of-Flight (ToF) sensors in the region during the forecast period. Organic growth of the automotive industry with increasing penetration of selfless-driving modules and gesture-control systems is also likely to boost the demand for Time-of-Flight (ToF) sensors in the region.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key players acting in the Time-of-Flight (ToF) Sensor Market:
Texas Instruments Incorporated
Infineon Technologies AG
Teledyne Technologies Incorporated
PMD Technologies AG
Key questions answered by the report:
What is the projected CAGR for the Time-of-Flight (ToF) Sensor Market revenue during the forecast period?
What would the market be valued at by 2028?
What is a major driving factor for the growth of the market?
Which region accounted for the largest revenue share in the Time-of-Flight (ToF) Sensor Market?
Which are the major market players?
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