The 3D sensors market in North America is expected to grow from US$ 832.8 Mn in 2018 to US$ 13,390.4 Mn by the year 2027. This represents a CAGR of 33.6% from the year 2019 to 2027.
3D sensors use active-range sensors that provide depth images at high frame rates. The automotive sector consistently focusses on bringing significant transformations for enhancing the driving experience. The automobiles of today are becoming smarter, becoming more capable of self-diagnostics, and are further anticipated to communicate with other entities in the ambient environment. ADAS, infotainment systems, and car telematics have been trending in the automotive sector for quite some time now. The success of these trends is entirely attributed to the sophistication and technological advancements in the semiconductor industry. The trends such as car telematics, and easy-to-use and interactive infotainment systems are emerging at rapid rates; they are also being developed with a focus on driver and passenger safety. Also, the implementation of other safety features resulted in a reduced number of car accidents as well as fatalities in the past decade. Currently, available vehicles on market feature increased computing power, and this has a result of the increasing electronic integrations into the vehicles. The vehicles are becoming more advanced on the back of capabilities of detecting obstacles and alerting the users, navigating maps, and operating the infotainment systems inside the vehicles; these features make them user-friendly and convenient, thereby raising the need for 3D sensors to make different tasks easy as well as to ensure safety of drivers along with the increasing facilities. A simple hand swipe gesture by the driver can be used for changing the music or changing the radio channel while on the road. A 3D sensor is a powerful and highly accurate distance mapping and 3D imaging technology that accurately measures obstacles while driving. Also, these sensors are used for range imaging based on which they gather vital gestures and process information further.
ADAS comprises features such as adaptive braking, self-parking, backup cameras, and automatic cruise control, which improve passenger safety. Steady progress in the development of autonomous vehicles is being witnessed with some of the renowned car manufacturers collaborating with the technology leaders for its conceptualization. Autonomous vehicles have evolved on the platform built by ADAS. Companies such as Ford, General Motors, Nissan, Tesla, Mercedes, and Honda have been investing billions of dollars in the R&D of these cars. Also, technology giants such as Apple, IBM, and Intel have further collaborated with the leading auto manufacturers to remain competitive. With such rapid ongoing developments in this field, autonomous cars are likely to be commercialized in the next few years.
Currently, the US is dominating the 3D sensors market in terms of installation, which in turn boost the demand for 3D sensors market in the region. The US is one of the largest automotive hubs in the world. Being one of the largest automobile producers, the country has proven to be the most attractive destination for automotive component suppliers. Furthermore, technological advancements in the country, substantial disposable incomes with End-User Verticals, and the presence of a robust manufacturing and robotics sector in the country further boost the growth of the 3D sensor market. Many big players like Qualcomm, Inc. (US), Intel, Microsoft, Dell, etc. are involved in the manufacturing of electronic consumables like smartphones, 3D projectors, tablets, which makes the US a leading player in the 3D sensor electronic consumable market. The figure given below highlights the revenue share of Mexico in the North American 3D sensor market in the forecast period:
Mexico 3D Sensor Market Revenue and Forecasts to 2027 (US$ Mn)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
NORTH AMERICA 3D SENSORS MARKET - SEGMENTATION
North America 3D sensors Market – By Technology
- Stereo Vision
- Time-of-Flight
- Structured Light
North America 3D sensors Market – By End-user Vertical
- Healthcare
- Aerospace
- Industrial
- Automotive
- Consumer Electronics
- Others
North America 3D sensors Market – By Country
- US
- Canada
- Mexico
North America 3D sensors Market -Companies Mentioned
- Adafruit
- AMS AG
- Teledyne
- IFM Electronic GmbH
- Infineon Technologies AG
- Keyence Corporation
- Melexis
- STMicroelectronics
- Sony Corporation
- Texas Instruments Incorporated
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, End-user Verticals
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
The List of Companies - North America 3D Sensors Market
- Adafruit
- AMS AG
- Teledyne
- IFM Electronic GmbH
- Infineon Technologies AG
- Keyence Corporation
- Melexis
- STMicroelectronics
- Sony Corporation
- Texas Instruments Incorporated
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
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- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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