Time-of-Flight (ToF) Sensor Market by Resolution (QQVGA, HQVGA, QVGA, & VGA), Application (Augmented Reality & Virtual Reality, LIDAR, Machine Vision, 3D Imaging & Scanning, and Robotics & Drone), Product Type, Vertical and Geography - Global Forecast to 2025
“Time-of-flight (ToF) sensor market to grow at CAGR of 20.0% from 2020 to 2025”
The ToF sensor market is expected to grow from USD 2.8 billion in 2020 to USD 6.9 billion by 2025, at a CAGR of 20.0%. The growth of this market is mainly driven by the increasing demand for ToF sensors from the automotive industry and the growing adoption of 3D cameras in smartphones and increasing use of such smartphones. The increasing adoption of 3D machine vision systems in industries such as healthcare, aerospace & defense, and consumer electronics and the rising deployment of Industry 4.0 are expected to provide major opportunities to the players in the ToF sensor market. However, extra costs associated with sensor solutions restrains the market growth.
“Consumer electronics vertical to hold largest share of ToF sensor market by 2025”
The ToF sensor market for the consumer electronics vertical is expected to grow at the highest CAGR from 2020 to 2025. Rising demand for 3D-enabled devices in consumer electronics and increasing users of smartphones are the key factors for the growth of the ToF sensor market for consumer electronics. Intelligence, reliability, low power consumption, low cost, and high integration are the drivers for the integration of ToF technology in consumer electronics such as computers, televisions, gaming consoles, cameras, camcorders, and smartphones. The rising demand for these devices is creating the demand for ToF sensors, which, in turn, would give an impetus to further advancements in the ToF technology.
“APAC to be largest market for ToF sensors by 2025”
APAC is expected to hold the largest share of the ToF sensor market during the forecast period owing to the rapid industrialization and high adoption of consumer electronics including gaming consoles, PCs, and laptops in the region. Additionally, the easy availability of low-cost labor has led to increased manufacturing of different electronic components and devices in this region, thereby leading to the emergence of APAC as a global manufacturing hub. This, in turn, has led to increased demand for ToF sensors for monitoring and inspection applications in the manufacturing industry of the region. All these factors are expected to drive the growth of the time-of-flight (ToF) sensors market in APAC.
Breakdown of Profiles of Primary Participants:
By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
By Designation: C-level Executives - 30%, Directors - 25%, and Others - 45%
By Region: North America - 45%, Europe - 30%, APAC - 20%, and RoW - 5%
Major Players Profiled:
Texas Instruments Incorporated (US)
STMicroelectronics NV (Switzerland)
Infineon Technologies AG (Germany)
Panasonic Corporation (Japan)
Teledyne Technologies Incorporated (US)
Keyence Corporation (Japan)
pmd Technologies AG (Germany)
Sharp Corporation (Japan)
Sony Corporation (Japan)
Melexis NV (Belgium)
This report offers detailed insights into the ToF sensor market by product type, which is further classified into RF-modulated light sources with phase detectors, range-gated imagers, and direct time-of-flight imagers. Based on display resolution, the market is segmented into QQVGA, HQVGA, QVGA, and VGA. By application, the time-of-flight (ToF) sensor market is segmented into AR & VR, LiDAR, machine vision, 3D imaging and scanning, and robotics and drone. By vertical, the ToF sensor market is classified into automotive, consumer electronics, gaming & entertainment, industrial, healthcare, and aerospace & defense. The study also forecasts the size of the market based on 4 regions—North America, Europe, APAC, and RoW.
Reasons to Buy the Report
The report would help market leaders/new entrants in the following ways:
1. This report segments the ToF sensor market comprehensively and provides the closest approximations of the overall and segment-based market sizes across different product types, display resolutions, applications, verticals, and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their market position. The Competitive Landscape section includes the competitive analysis of top players, as well as strategies such as product launches and developments, acquisitions, collaborations, agreements, partnerships, and expansions adopted by major market players.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook