Depth Sensing Market

Industry Overview

The global depth sensing market size was valued at USD 7.72 billion in 2023 and is expected to grow at a CAGR of 11.8% during the forecast period to reach USD 16.95 billion by 2030.

Depth sensing is a process that uses a specially designed device that is integrated with a lens module, sensors, and illuminator module to apprehend and process a huge amount of data and filter them to extract the necessary information. In simple words, depth sensing is a process that uses different technologies to measure the distance and depth between objects. The global depth sensing market is witnessing a significant growth rate and is expected to continue during the forecast period due to the growing implementation of dual-camera smartphones. It is also extensively used for medical imaging solutions.

The size and growth of the global depth sensing market are attributed to factors other than the above, such as the growing need for high-quality images and to facilitate features like gaming, gesture control, and face recognition.

Market Segmentation

Insight by Component

Based on the components, the global depth sensing market is divided into sensors, camera or lens modules, and illuminators. Out of all these segments, the camera or lens module segment accounts for the largest share of the market. This is due to the rising need for improved quality images and uses such as gesture control, face recognition, and gaming.

On the other hand, the sensor segment is also expected to grow at a faster rate in the projected period due to the increased need for more accurate depth data.

Insight by Technology

According to the technologies used, the global depth sensing market is divided into stereo vision, time-of-flight, and structured light segment. Among all these segments, the time-of-flight segment is expected to grow at a faster rate during the forecast period due to lower power consumption, relatively simple hardware and software requirements, and precise depth data.

Insight by Type

According to the types, the global depth sensing market is divided into active depth sensing and passive depth sensing. Among these two types, the active depth sensing segment is expected to grow at a faster rate during the analysis period due to the growing need for accurate depth calculation requirements across a wide variety of industries such as automotive, industrial, and consumer electronics.

This accuracy is guaranteed by the laser, which is the most commonly used light source used in active depth sensing. However, time-of-flight technology is also used in this process since lasers tend to be accurate in restricted environments only.

Insight by Industry

According to the industry, the global depth sensing market is divided into automotive, industrial, building automation, medical, and consumer electronics.

As for the automotive segment, it is further divided into gesture control, parking assistance, autonomous navigation, passenger classification, and driver monitoring. In addition, the building automation segment is divided into 3D scanning, HVAC, and lighting, and the medical segment is further divided into medical imaging and breathing analysis. The industrial segment, however, is further divided into robotics, drones, and industrial object tracking.

Among all these segments, the consumer electronics segment accounts for the larger share due to the growing demand for applications such as AR, VR, gesture control, scanning, and face recognition, which are the subdivisions of this segment as well. Out of all these subdivisions, the scanning segment is expected to grow more notably during the forecast period.

Insight by End-User

Based on the end-users, the global depth sensing market is divided into enterprise, government, and retail. The enterprise segment is supposed to be the larger contributor to the market due to the growing adoption of 3D sensing technology for various business applications to track the location of items in their warehouses, monitor supply chain processes, and digitize the customer experience.

On the other hand, the use of this technology is expected to grow in the government sector for different use cases such as immigration control, law enforcement, customs control, and airport security as well as by the military for battlefield surveillance, border protection, and urban war.

Also, the retail segment is expected to grow during the forecast period to provide better and more immersive shopping experiences, optimize inventory management, track customer movements, and offer contactless checkout. It is also used extensively for store displays to offer customers a more interactive shopping experience.

Global Depth Sensing Market Report Coverage

Industry Dynamics

Trends

Of late, it has been noticed that major players in the global depth sensing market are collaborating to produce more sophisticated devices for accurate depth sensing. They are also acquiring small players, which has promoted the investments made in technologically advanced and more effective products.

There is also a significant rise in the popularity and development of autonomous vehicles noticed in the industry. In addition, this technology is widely used in different sectors above regular industries such as the defense & military sectors.

Growth Drivers

In addition to the above trends fostering growth, the most significant growth drivers of the global depth sensing market include the growing smartphone market and the rise in the usage of depth sensing technology. In addition, the extensive usage of dual cameras in smartphones along with the increased demand for surveillance and security systems fuels the growth as well.

There is also an increased usage of depth sensing technology noticed in AR and VR gaming applications, which is also propelling the growth of this market.

Apart from that the growing need for improved medical imaging technologies and solutions is also helping the global depth sensing market to grow just as the growing need for accurate depth calculation in several industries higher need for environmental scanning applications.

Challenges

The high cost of production of the depth sensing module is a significant obstacle to the growth of the global depth sensing market. Also, the increased power consumption and the accurate angle requirement for ensuring higher accuracy of stereo depth sensing technology are causing hindrances to the growth of the global depth sensing market. 

Opportunity

However, the future of the global depth-sensing market looks bright as the major players are continually trying to come up with newer and better products.

Geographic Overview

Asia-Pacific is the largest contributor to the depth sensing market and is expected to grow at a faster rate during the forecast period. This is mainly due to the growing need for depth sensing from consumer electronics applications such as smartphones, tablets, laptops, and gaming handsets.

In addition to that, there is an increased implementation of dual-camera smartphones, and accurate depth calculation requirements across several industries are also pushing the growth of the global depth sensing market in the Asia-Pacific region.

However, North America is expected to grow at a higher rate than other regions during the forecast period due to the widespread proliferation of gaming and video content. There is also an increase in the demand for 3D imaging technology in this region, facilitating the market growth.

Competitive Insight

Key players in the Depth Sensing Market are catering the demand by collaborating, and acquiring with small players and investing on technologically advanced products across the globe. Qualcomm Incorporated expanded its Qualcomm Spectra Module Program, for improved biometric authentication and high-resolution depth sensing, in order to meet budding demands of photo and video for a wide range of mobile devices and head mounted displays. Texas Instruments, Sony Depthsensing Solutions, Intel, Infineon Technologies, Becom Bluetechnix GmbH, Espros Photonics Corporation, Pmdtechnologies AG, Stereolabs, Qualcomm Incorporated and Creative Technology Ltd are the key players offering depth sensing.

Recent Developments by Key Players

Texas Instruments (TI) has introduced new semiconductors designed to improve more safety and intelligence.

Intel has introduced its D456 depth camera recently. The D456 is the second IP65-rated camera in Intel’s D400 stereo product line, adding a USB interface option for easier out-of-the-box integration. The RealSense D456 is based on its longest-range D455 USB camera with three global shutter sensors and IMU. The camera integrates an IMU to allow robots to refine their depth awareness in any situation where the camera moves that allows for improved environmental awareness for robots and drones.