The global time-of-flight (TOF) sensor market size reached US$ 3.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17% during 2023-2028.
Time-of-flight (ToF) sensor is a small and lightweight sensor that measures depth and distance by using the time-of-flight principle. It helps calculate distances using the time taken by photons to travel from the emitter of a sensor to the target and then back to the receiver. It offers insights into key business metrics, including periodic occupancy counting to space optimization. Besides this, it is a reliable and cost-effective technology that provides a more extended range, precise and faster readings, and better safety and accuracy than other distance sensors. As a result, the TOF sensor finds extensive applications in robot navigation, 3D mapping, industrial automation, vehicle monitoring, and object detection.
Time-of-Flight (TOF) Sensor Market Trends:
The rising employment of ToF sensors in the automotive industry to support hand position interaction and operate the sunroof, air conditioning, and radio system represents one of the key factors positively influencing the market. In addition, the growing global population is driving the demand for consumer electronic goods, such as smartphones, laptops, tablets, and wearables. TOF sensors in smartphones support front-facial recognition and rear-facing applications with high reliability, low power consumption and cost, and easy integration. Apart from this, the increasing utilization of three-dimensional (3D) TOF cameras in object scanning and tracking, security systems, indoor navigation, obstacle avoidance, and medical imaging is creating a positive market outlook. Furthermore, the deployment of industry 4.0 and the increasing employment of 3D machine vision systems across various industry verticals are contributing to market growth. Additionally, leading market players are introducing technologically advanced product variants to expand their market reach and increase profitability. Moreover, investments in research and development (R&D) in the electronic industry are expected to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global time-of-flight (TOF) sensormarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application and end user.
Breakup by Type:
RF-Modulated Light Sources with Phase Detectors
Direct Time-of-Flight Imagers
Breakup by Application:
Augmented Reality and Virtual Reality
3D Imaging and Scanning
Robotics and Drone
Breakup by End User:
Entertainment and Gaming
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Adafruit Industries, ams AG, Broadcom Inc., Infineon Technologies AG, Keyence Corporation, Melexis (Xtrion N.V.), Omron Corporation, pmdtechnologies ag, Renesas Electronics Corporation, Sharp Corporation, Sony Semiconductor Solutions Corporation (Sony Group Corporation), STMicroelectronics N.V., Teledyne e2v (Teledyne Technologies Incorporated) and Texas Instruments Incorporated.
Base Year of the Analysis
Type, Application, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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Key Questions Answered in This Report
The global Time-of-Flight (TOF) sensor market was valued at US$ 3.8 Billion in 2022.
We expect the global Time-of-Flight (TOF) sensor market to exhibit a CAGR of 17% during 2023-2028.
The rising demand for Time-of-Flight (TOF) sensors in consumer electronic devices to support front-facial recognition and rear-facing applications with high reliability and low power consumption, is primarily driving the global Time-of-Flight (TOF) sensor market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for Time-of-Flight (TOF) sensors.
Based on the type, the global Time-of-Flight (TOF) sensor market can be segmented into RF-modulated light sources with phase detectors, range-gated imagers, and direct time-of-flight imagers. Currently, range-gated imagers hold the majority of the total market share.
Based on the application, the global Time-of-Flight (TOF) sensor market has been divided into augmented reality and virtual reality, LiDAR, machine vision, 3D imaging and scanning, and robotics and drone. Among these, 3D imaging and scanning currently exhibits a clear dominance in the market.
Based on the end user, the global Time-of-Flight (TOF) sensor market can be categorized into consumer electronics, automotive, entertainment and gaming, industrial, healthcare, and others. Currently, consumer electronics account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global Time-of-Flight (TOF) sensor market include Adafruit Industries, ams AG, Broadcom Inc., Infineon Technologies AG, Keyence Corporation, Melexis (Xtrion N.V.), Omron Corporation, pmdtechnologies ag, Renesas Electronics Corporation, Sharp Corporation, Sony Semiconductor Solutions Corporation (Sony Group Corporation), STMicroelectronics N.V., Teledyne e2v (Teledyne Technologies Incorporated), and Texas Instruments Incorporated.
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