July 11, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Time-of-Flight Sensor Market.
It was estimated prior to this unanticipated outbreak that the Time-of-Flight Sensor Market is likely to witness a healthy CAGR of 16.8% during the forecast period. 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.
Market Scope & Segmentation
Time-of-Flight (ToF) Sensor is a remote sensing method, which uses infrared light pulse to detect and measure distances very accurately by measuring the return time of pulse.
Time-of-Flight (ToF) Sensor is a cost-effective technology which 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.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Segment Analysis
Based on the 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 their growing application in phones and consumer devices.
Based on the end-use industry type, the market is segmented 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 the market during the forecast period, owing to its increasing adoption in smartphones and consumer devices on account of its reliability, durability, efficiency at lower cost.
In terms of regions, 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 the 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.
Key Players:
Key players operating in the global Time-of-Flight Sensor market are-
- Texas Instruments Incorporated
- STMicroelectronics N.V.
- Infineon Technologies AG
- Panasonic Corporation
- Teledyne Technologies Incorporated
- Keyence Corporation
- PMD Technologies AG
- Sharp Corporation
- Sony Corporation
- Melexis N.V.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Time-of-Flight Sensor analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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