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$7.7 Billion Depth Sensing Market by Component, Type, Technology, Vertical and Geography - Global Forecast to 2023DUBLIN, June 15, 2018 /PRNewswire/ -- The "Depth Sensing Market by Component, Type, Technology (Stereo Vision, Structured Light, Time-of-Flight), Vertical (Automotive, Building Automation, Consumer Electronics, Industrial and Medical) and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The depth sensing market is expected to grow from USD 4.40 Billion in 2018 to USD 7.72 Billion by 2023, at a CAGR of 11.89% between 2018 and 2023. The major factors driving the growth of this market include the growing smartphone market, increasing adoption of dual cameras in smartphones, rising use of depth sensing technology in AR-VR gaming applications, and increasing requirement of security and surveillance systems. This report segments the depth sensing market on the basis of component, type, technology, vertical, and geography. The depth sensing market for active type is expected to witness a significant growth during the forecast period owing to the increasing demand for accurate depth calculations required in various sectors such as consumer electronics, industrial, and automotive. Camera/lens module accounted for the largest share of the depth sensing market in 2017. This growth can be attributed to the increasing demand for better quality images and applications such as face recognition, gesture control, and gaming. The depth sensing market for time-of-flight technology is expected to grow at the highest CAGR between 2018 and 2023. This high market growth rate can be attributed to the low power consumption, accurate depth data, and relatively simple software and hardware requirements. APAC accounted for the largest share of the overall depth sensing market in 2017 as APAC is the largest- and fastest-growing market because more than 95% of the demand for depth sensing is from the consumer electronics application, which includes smartphones and tablets, laptops, and gaming headsets. High power consumption for processing is among the challenging factors impeding the growth of the depth sensing market. A depth sensing device is incorporated with lens module, sensors, and illuminators. A large amount of power is consumed while capturing the data, processing all the captured data, and filtering the data to get the required information. The entire process takes place within a sensor. The rocess may sometimes take place within a server; this adds to extra power consumption as the captured data are sent to the server and then processed. To overcome this challenge, depth sensing industry players are trying to develop technologies such as time-of-flight, which is expected to consume less power. Key Topics Covered: 1 Introduction 2 Research Methodology For more information about this report visit https://www.researchandmarkets.com/research/tqh42q/7_7_billion?w=5 Media Contact: Research and Markets
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