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Global 3D Sensing Technology Market Expected to Reach USD 4

Global 3D Sensing Technology Market Expected to Reach USD 4,742.5 Million by 2026
Global 3D Sensing Technology Market
Expected to Reach USD 4,742.5 Million
by 2026
The global 3D sensing technology market was valued at US$ 831.1 Mn in 2016 and is
projected to register compound annual growth rate (CAGR) of over 19.16% from
2018 to 2026, according to a new report published by Transparency Market Research
(TMR) titled “3D Sensing Technology Market – Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast, 2018–2026.” The report suggests that rising use of 3D
sensing technology across automotive, consumer electronics, and media &
entertainment industries worldwide along with the rising trend of using technology
such as augmented reality or virtual reality around the globe is likely to spur the
demand for 3D sensing technology in the coming years. As key players introduced 3D
sensing technology in developed markets such as North America, Europe, and Asia
Pacific, these regions are likely to account for dominant share of the global 3D
sensing technology market. Growing demand for 3D sensing technology from next
generation smartphones in emerging markets such as China, Japan, and India is likely
to boost growth of the Asia Pacific 3D sensing technology market at a growth rate of
around 18% from 2018 to 2026.
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Heavy maintenance cost of 3D sensing technology related components and devices to
affect the expansion of 3D sensing technology worldwide
Application of 3D sensor technology is expected to expand across multiple industry
verticalssuch as consumer electronics, media & entertainment, automotive, and
security & surveillance, providing novel opportunities in the field of 3D sensing
technology. However, some restraints can have a negative impact on the growth ofthe
3D sensing technology market. 3D sensor has high cost of maintenance due to the
complex circuits used in the VCSEL (Vertical-cavity surface-emitting laser)
technology.This could be a major factor that could hamper the growth of the 3D
sensing technology market. However, many manufacturers are planning to increase
the production of 3D sensors due to continuously growing demand, which could
overcome this restraint in the near future.
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