The Global Time-of-Flight (ToF) Sensor Market Size was Worth USD 3.46 Billion in 2022 and is Estimated to Grow to USD 14.08 Billion by 2030, With a CAGR of Approximately 19.20 % Over the Forecast From 2023 To 2030.
By measuring the time, it takes for the transmitted pulses to reach the object and return, ToF sensors create images with incredibly high-depth information. Several factors, such as power output and camera resolution, might alter the measurement range. One of the primary reasons favorably affecting the market is the growing use of ToF sensors in the automotive sector to support hand-position interaction and control the radio, air conditioner, and sunroof. In addition, the demand for consumer electronics like smartphones, laptops, tablets, and wearables is being driven by the expanding world population. With great durability, low cost and power consumption, and simple integration, TOF sensors in smartphones support front- and rear-facing applications. However, during the projected period, the market expansion is estimated to be constrained by the high costs associated with such sensors, maintenance, and restoration.
The market for time flight sensors is expanding, mainly due to the popularity of 3D cameras and the quick uptake of AR and VR technology. Furthermore, a new trend in the market for time-of-flight sensors is anticipated due to the increasing R&D spending for developing advanced scanning technologies and biometric authentication.
ToF sensors offer a variety of applications, but they also have several drawbacks. When using the ToF sensor on corners and concave objects, there is a chance that light will reflect more than once, which could lead to unwanted reflection and affect measurement accuracy. Because the ToF sensor only needs once-recalled light due to its size, highly reflecting surfaces nearby can produce artifacts and unwanted thoughts. Intense sunlight can quickly cause the sensor pixels to get saturated, making it impossible to detect light reflected off an object when using ToF cameras.
The global time-of-flight (ToF) sensor market has been segmented into product types, applications, and End Users.
- Based on application, the AR & VR LiDAR, machine vision, 3d imaging & scanning, and robotics & drone are segments of the global time-of-flight (ToF) sensor market. ToF 3D sensor technology uses millisecond bursts of precisely guided laser light reflected from the scene onto a high-resolution image sensor to measure the depth of each pixel in the picture array, the 3D imaging & scanning segment for these facilities accounted for a sizeable market share in 2021. However, due to the service robots’ expanding use in consumer electronics and industrial applications, the robotics & drone category is expected to increase significantly over the projected period.
- Based on end users, the worldwide Time-of-Flight (ToF) Sensor market is segmented into automotive, consumer electronics, gaming & entertainment, industrial, healthcare, and aerospace & defense. In 2021, Consumer electronics records were anticipated to have the highest share in this market. It is also utilized as a 3D sensor and range camera in consumer gadgets. A ToF camera sensor measures volume and distance and offers object scanning, interior navigation, obstacle avoidance, gesture recognition, object tracking, and reactive altimeters. Industrialization was the fastest-growing segment. The technology measures the time it takes for the calls to return and uses the data gathered to compute depth by allowing cameras to generate infrared light signals.
China is anticipated to control the majority of the market for ToF sensors due to the country’s numerous manufacturing plants and smartphone brands. China is the world leader in AI technologies, and many developing industries are anticipated to use AI-based cameras. Initiatives by the Chinese government, such as the Made in China 2025 plan, stimulate investment and R&D in factory automation and technologies. The majority of automation equipment is imported from other countries. Hence, the “Made in China” project aims to enhance domestic production; Asia Pacific dominated the Time-of-Flight (ToF) Sensor market in 2021.
Time-of-Flight (ToF) Sensor Market: Competitive Landscape
- Some of the competitors for the global Time-of-Flight (ToF) Sensor market include- Texas Instruments Inc, Infineon Technologies AG, Panasonic Corp, STMicroelectronics NV, Sony Corp, Keyence Corp, Teledyne Technologies International Corp, Omron Corp, Sharp Corp, Chirp Microsystems Inc. (TDK Corporation).
- September 2022: The three firms announced the development of a surgical endoscopic system with surgical viewing capabilities such as 4K, 3D, and infrared (IR) imaging above, and NBI by Olympus Corporation, Sony Olympus Medical Solutions Inc., and Sony Corporation, and a joint venture between Sony and Olympus. Olympus will begin marketing this system as the “VISERA ELITE III” throughout Europe, the Middle East, and Africa (EMEA), as well as some areas of Asia, Oceania, and Japan, starting in September 2022 or later.
- August 2022: Berlin-based Industrial Analytics was acquired by Infineon Technologies AG. To conduct predictive analysis on machinery and industrial equipment, Infineon is improving its artificial intelligence software and services business. All of the company’s outstanding shares are being purchased by Infineon.
The outbreak affected the expansion of various end-user businesses in the area, particularly during the first half of 2020, including automotive, electronics, and industrial. However, these industries experienced a jump in demand for TOF sensors during the second half of 2020 and are anticipated to continue during the projection period due to the slow but steady recovery from the COVID-19 epidemic.
Global Time-of-Flight (ToF) Sensor Market is segmented as follows:
Time-of-Flight (ToF) Sensor Market by Product Type Outlook (Revenue, USD Million, 2017 – 2030)
- Direct ToF Sensors
- Indirect ToF Sensors
Time-of-Flight (ToF) Sensor Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
- AR & VR
- Machine Vision
- 3D Imaging & Scanning
- Robotics & Drone
Time-of-Flight (ToF) Sensor Market by End User Outlook (Revenue, USD Million, 2017 – 2030)
- Consumer Electronics
- Gaming & Entertainment
- Aerospace & Defense
Time-of-Flight (ToF) Sensor Market by Region Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- The UK
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
|Time-of-Flight (ToF) Sensor Market Report Scope
|Market Size Value in 2022
||USD 3.46 billion
|Revenue Forecast in 2030
||USD 14.08 billion
||CAGR of 19.2 % from 2023 to 2030
|Base Year for Estimation
||2017 – 2022
||2023 – 2030
||Revenue in USD million and CAGR from 2023 to 2030
||Revenue forecast, company ranking, Trends
competitive landscape, and growth factors
||Product Type, Application, End User, and Region
||North America; Europe; Asia Pacific; Latin America; Middle East & Africa
||U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
|Key Companies Profiled
||Texas Instruments Inc, Infineon Technologies AG, Panasonic Corp, STMicroelectronics NV, Sony Corp, Keyence Corp, Teledyne Technologies International Corp, Omron Corp, Sharp Corp, Chirp Microsystems Inc. (TDK Corporation)