888-776-0942 from 8 AM - 10 PM ET
NEW YORK , Sept. 8, 2022 /PRNewswire/ -- The time-of-flight (TOF) sensor market is growing at a CAGR of 29.43% and is expected to register an incremental growth of USD 1.84 billion between 2021 and 2026. The report analyses the market size, growth, and provides accurate predictions on the market's growth.
The time-of-flight (TOF) sensor market is segmented by application (consumer electronics, automotive, industrial, medical, and others).
The contribution of the consumer electronics applications segment in the global TOF sensor market has been the highest. This is because of the large consumer base for the products in this segment that use TOF sensors, such as smartphones, tablets, personal computers, and digital cameras.
The global time-of-flight (TOF) sensor market is analyzed across five regions — APAC, North America , Europe , South America , and the Middle East and Africa .
APAC is currently the dominating region, occupying 50% of the global market share. The regional market is driven by the growing demand for high-quality, camera-enabled mobile devices, digital cameras, and machine vision devices across the developing countries in the region such as India and China .
Identify potential segments and regions to invest in over the forecast period. Read Sample Report Before Purchasing
The time-of-flight (TOF) sensor market is expected to witness substantial growth during the forecast period, primarily due to the rising popularity of 3D cameras. In addition, the growth of AR and VR market and an increase in the popularity of digital signage will further accelerate the growth of the market.
The report also covers information on the upcoming trends and challenges that will influence the market growth. Explore additional information by Downloading a Sample Report.
The time-of-flight (TOF) sensor market is fragmented due to the presence of several players and a few well-established players. During the forecast period, we expect that STMicroelectronics, TDK, and Texas Instruments, due to their long-time presence and high popularity in the semiconductor industry, will dominate the market. However, Adafruit, Infineon Technologies, and Melexis NV are posing stiff competition to these companies. Adafruit is a start-up; however, the company has gained good recognition in the US as there are many emerging applications for TOF sensors.
Many new vendors have been using Adafruit TOF sensor. Renesas Electronics is a renowned sensor manufacturer based in Japan . Companies invested in robotic technologies, and many automotive vendors in Japan preferred the company TOF sensors. Melexis NV is also a well-known sensor provider, especially for the automotive industry. Therefore, the growing investment in driverless cars can help the growth of the company TOF sensors. The major drawback of these vendors, however, is that none of them have a strong TOF sensor product portfolio suitable for a wide range of applications.
Considering the fact that there are a lot of emerging applications for TOF sensors, more new vendors specialized in specific segments are expected to come up, in turn leading to higher competition during the forecast period.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the time-of-flight (TOF) sensor market report:
Get your queries resolved by an industry expert. Speak to Our Analyst Now
Time-of-flight (TOF) Sensor Market Scope
Accelerate at a CAGR of 29.43%
APAC, North America, Europe, South America, and Middle East and Africa
US, China, Taiwan, Germany, and France
Leading companies, competitive strategies, consumer engagement scope
Adafruit Industries LLC, ams AG, Balluff GmbH, BECOM Electronics GmbH, Broadcom Inc., ESPROS Photonics Corp., Infineon Technologies AG, iris-GmbH infrared and intelligent sensors, Keyence India Pvt. Ltd., Melexis NV, Panasonic Holdings Corp., pmdtechnologies AG, Pololu Corp., Renesas Electronics Corp., Seeed Technology Co. Ltd., Sharp Corp., Sony Semiconductor Solutions Corp., STMicroelectronics NV, TDK Corp., and Texas Instruments Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact, future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
More news releases in similar topics
Cision Distribution 888-776-0942 from 8 AM - 9 PM ET