Toronto, Ontario -- The 3D sensors market is predicted to reach US$14 billion by 2030, in part due to growing penetration in automotive vehicles, a report by market research and consulting firm IndustryARC has found.
3D sensors are devices that capture depth information such as time-of-flight and LiDAR to create a 3D-representation of a scene or object. In the automotive industry, 3D sensors are used in advanced driver assistance systems to map the vehicle’s surroundings, detect obstacles, measure the speed of other objects and trigger responses and safety alerts. ADAS has increasingly been adopted and integrated in the last 10 years, as it becomes a vehicle safety standard.
Major trends, such as the adoption of 3D sensors for ADAS and autonomous vehicles, contribute to the market’s compound annual growth rate of 21.5 percent during the forecast period of 2024-2030. The adoption of 3D sensors in healthcare applications are also expected to fuel market expansion.
Attributes categorizing the sensors include type, technology, connectivity, application, industry vertical and geography. Some of the types of sensors discussed in the report include image sensors, position sensors and accelerometers. Technologies covered include stereoscopic vision, infrared sensing and micro-electro-mechanical systems.
While sensor connectivity is only classified as wired or wireless, application, industry vertical and geography are split into numerous categories, such as ADAS in application, automotive in industry vertical and North America in geography.
The COVID-19 pandemic initially created disruptions in the supply chain and manufacturing processes; however, the market later experienced a surge in demand due to the increased need for contactless technologies like in industrial automation.
The North America region controls the market by holding 39 percent of the share in 2023 and is predicted to encourage the implementation of 3D sensors across diverse industries as the growing trend of smart homes and rapid industrialization increases the demand.
Despite consumer electronics being the fastest growing segment, with a CAGR of 31 percent, the growing penetration of 3D image sensors in automotive vehicles is positively impacting market growth, according to the report. Time-of-flight technology equipped with 3D sensors is used within and beyond the vehicle, including in-cabin sensing cameras for smart airbag systems, depth data to support anti-spoofing capabilities and comfort features for fully autonomous parking.
