Global Time-of-flight (TOF) Sensor Market 2017-2021
About Time-of-flight (TOF) Sensor
Time of flight (ToF) is a term that denotes various methods used to calculate the time that an object, particle, or wave takes to move through a distance within a medium. A ToF sensor is considered to be an appropriate input device to both stationary and portable computing devices. This sensor is an important component of ToF cameras, which are used in a variety of sectors including automotive, industrial, healthcare, smart advertising, gaming, and entertainment.Technavio’s analysts forecast the global time-of-flight (TOF) sensor market to grow at a CAGR of 3.06% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global time-of-flight (TOF) sensor market for 2017-2021. To calculate the market size, the report considers sales of ToF sensors across various applications.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Time-of-flight (TOF) Sensor Market 2017-2021
Technavio recognizes the following companies as the key players in the global time-of-flight (TOF) sensor market: Adafruit, Infineon Technologies, KEYENCE, Melexis, Renesas Electronics, STMicroelectronics, and Texas Instruments.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is virtual reality experience through drones. The substantial increase in the adoption of ToF cameras in drones is expected to impact the ToF sensors market positively over the next five years. Virtual reality applications are gradually being used to provide interactive and immersive experience using digital platforms. By using computer technology, virtual reality helps to create an interactive 3D environment in which objects can give the sense of spatial presence.”
According to the report, one driver in the market is rise in popularity of 3D cameras. ToF technology accounts for the lowest share, 18.58%, in the current global 3D camera market but is expected to surpass structured light technology-based 3D cameras over the coming years. ToF cameras capture 3D information by projecting infrared light against an object and measuring the time taken between the emission and the detection of the light. These cameras are preferred in security/surveillance systems, robotics for guiding automatic vehicles with improved obstacle identification and avoidance, and in the medical field.
Further, the report states that one challenge in the market is failure to forecast market and demand. Much of the demand for ToF sensors comes from a few sectors such as consumer electronics and automotive. This leads to the high dependency of ToF sensors on the growth of these markets. Additionally, firms need to quickly forecast the demand and supply for this small product that finds integration in products like smartphones and automobiles. Failing to do so can result in significant loss of revenue and can also allow the opportunity for new vendors to enter the market, further increasing the competition.
Adafruit, Infineon Technologies, KEYENCE, Melexis, Renesas Electronics, STMicroelectronics, and Texas Instruments.