Europe 3D Sensors Market to 2027 - Regional Analysis and Forecasts by Technology (Stereo Vision, Time-Of-Flight, Structured Light, Flood Illumination); End-user Verticals (Healthcare, Aerospace, Industrial, Automotive, Healthcare, Others)
3D sensors market in Europe is expected to grow from US$ 1.02 Bn in 2018 to US$ 10.97 Bn by the year 2027. This represents a CAGR of 27.8% from the year 2019 to 2027.
The consumer electronics industry is witnessing immense growth in both developed and developing countries, and advancements and smart features that are offered by the manufacturing companies have been the major contributors to this growth. Currently, various consumer electronics devices are used by individuals for a plethora of tasks. Consumer electronics such as smartphones, tablets, PCs, TVs, washing machines, fridge, and music players have become integral part of routine lives. All these devices are becoming smarter with the ongoing technological advancements and integration of Internet of Things (IoT) and Artificial Intelligence (AI). The advancements in the sensor technology has paved the way for remarkable growth of IoT and AI in most of the technological arenas including the automotive sector. The market for consumer electronics devices is constantly growing with the manufacturers coming up with advanced technologies and features in their devices on a regular basis. The growing popularity of smart consumer electronic is expected to drive the growth of 3D sensors market.
AI is boosting innovation in every industry, providing opportunities for new ideas that are accelerating digital transformation. With some of the biggest tech players from the US and, such as Google, Amazon, Apple, Facebook, Microsoft, IBM, at the forefront of the AI-related R&D, this technology is expected to change the face of internet end-user verticals in the coming future. AI will be the key factor in transforming the present businesses and digital end-user verticals by improving customer experiences based on their behavior. The various depth-sensing technologies are already being implemented in a slew of end-user verticals, such as industrial robotics and autonomous vehicles, since the last few years. The need for accurate mapping and plotting is high for achieving highly accurate autonomous operations. The depth-sensing technologies, when coupled with the edge AI, can be used for harnessing large volumes of data that can be processed and modelled into extremely useful actionable insights. The companies operating in the 3D sensor market have an opportunity to focus on develop advanced technologies to achieve a significant share of 3D sensors market.
The 3D sensors market is fragmented with the presence of several market players. The companies operating in the 3D sensors market are focusing on offering flexible and efficient solutions to attract new customers and gain a strong market position.
The 3D sensors market by technology is segmented into stereo vision, time-of-flight, structured light. 3D stereo vision has many applications in entertainment, robotics, and health care industries. In robotics, stereo vision plays a major role in extracting information on relative positioning of objects in the vicinity of autonomous systems. In the field of science, stereo vision enables data extraction via aerial investigations, measurement of contour maps or even the extraction of geometry through 3D building mapping, or the calculation of 3D heliographic information as obtained from the NASA STEREO project.
The overall Europe 3D sensors market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe 3D sensors market. It also provides the overview and forecast for the Europe 3D sensors market based on all the segmentation provided with respect to Europe region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Europe 3D sensors industry. Some of the players present in 3D sensors market are Adafruit, Ams Ag, Teledyne, Ifm Electronic GmbH, Infineon Technologies Ag, Keyence Corporation, Melexis, STMicroelectronics, Sony Corporation, and Texas Instruments Incorporated, among others.
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