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Depth sensing is define as a process of measuring depth and distance between the objects. This process is executed with the help of advanced depth sensors and equipment. Depth sensing technology helps to generate illustration of virtual world through information received from the sensors. Some of the sensors used for this technique are time of flight (ToF) depth sensors, infra-red (IR), light detection and ranging (LIDAR), and others. These sensors help to generate information such as gestures, distance, object’s motion, and movements and others by measuring distance between sensors and the objects. Further, key manufacturers are focused on investing for the development of advanced sensor used the in-depth-sensing process. According to sources, investment done by some of the players in the global sensors market is expected to exceed US$ 124.2 Bn by the end of 2024.
Key Market Driver -
Key Market Driver – • Development of AR/VR (Augmented Reality/Virtual Reality) gaming technology • Rising demand for advanced security and surveillance systems from various industries such as healthcare and automotive sector.
Key Market Restraint -
Key Market Restraint – • Increasing trade of fake sensors in various industries
Increasing market of consumer electronics products and rising adoption of augmented and virtual reality in gaming industry are expected to drive the growth of depth sensing market. Further, evolution of advanced sensors based on nanotechnology, used in industrial applications is anticipated to boost the market growth during the forecast period. Key players in this market are focusing on mergers and collaboration with other players to develop advanced sensors used for depth sensing process. For instance, in December 2016, Infineon Technologies partnered with PMD Technologies AG, developed and launched first 3D, time of flight image sensors, enabled with depth-sensing technology. These sensors being develop for “Google Tango Project.”
Some of the key players in global depth sensing market are Infineon Technologies, PMD Technologies AG, Sony Depthsensing Solutions, Intel Corporation, Nerian Vision Technologies, Texas Instruments, Becom Bluetechnix GmbH, Qualcomm Inc., Stereolabs Inc and others.
Asia Pacific is anticipated to dominate the depth sensing market in terms of revenue during the forecast period. This growth is due to the rising market of consumer electronics and automotive manufacturing plants in countries such as China, Japan and India. Key players in this region are focusing on developing advanced sensors based on depth sensing camera technology. For instance, in August 2017, Qualcomm Technologies, Inc. launched depth-sensing camera technology, designed for android platform.
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Similarly, in September 2016, Softkinetic, part of Sony Depthsensing Solutions, announced “DepthSense 541”, a 3D depth-sensing time-of-flight (ToF) camera module enabled with advanced sensors. Further, North America’s depth sensing market is expected to grow with a decent CAGR during the forecast period. Rising adoption of artificial intelligence and advanced robotics in the industrial sector are driving factors for the growth of North America market.
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