Time-of-Flight Sensor Market Forecast to 2028
Time-of-flight (ToF) sensors are used to measure the time taken by an object to travel a distance through a medium. It measures the time difference between the emission of a signal and its return to the sensor after being reflected by an object. The sensor is used for various applications, including robot navigation, people counting, vehicle monitoring, and object detection. It is an all-in-one system for cost-effective, easy, and small-footprint integration. It provides true distance measurement without depending on the target size, color, and reflectance. In addition, ToF sensors use lasers to measure long distances and ranges with great precision.
Furthermore, the increasing use of time-of-flight technology in autonomous mobile robots is expected to create an opportunity for the time-of-flight sensor market during the forecast period. In addition, the growing adoption of time-of-flight sensors in smartphones for photography and 3D facial mapping for facial unlocking would fuel the growth of the market in the coming years.
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The automotive industry is improving rapidly with rising technological developments. Vehicles rely on effective sensing to allow automated systems to assist drivers and provide improved safety, comfort, and convenience. Time-of-Flight (ToF) sensors are used in autonomous vehicles for various purposes, such as localization, obstacle detection, and picking or placing objects. The technology helps detect objects and provides information on their position and movements within the three-dimensional space. It also assists in identifying the object by detecting its size, shape, and orientation.
The time-of-flight sensor market is segmented into device type and vertical. Based on Device Type, the time-of-flight sensor market is segmented into RF-modulated light sources with phase detectors, range-gated imagers, and direct time-of-flight imagers. Based on Vertical, the time-of-flight sensor market is categorized into automotive, consumer electronics, gaming and entertainment, industrial, healthcare, aerospace and defense, and others.
Impact of COVID-19 Pandemic on Time-of-Flight Sensor Market
China, India, Japan, and South Korea are a few Asia Pacific countries that were adversely affected by the COVID-19 pandemic. The lockdown and slowdown of industrial activities across India and China led to the disruption of the supply chain of various raw materials and goods. However, in 2021, with the relaxation of the lockdown measures, manufacturing businesses resumed their operations at production facilities. The continued increase in the demand for various consumer electronic devices such as smartphones, tablets, and laptops is leading the growth of the time-of-flight sensor market in the forecasted period. In addition, various market players introduced various advanced technologies in Q3 of 2020 to attract more customers. For instance, in September 2020, OMRON Corporation introduced the B5L Series embedded 3D TOF Sensor Module. This further promoted the company to expand its presence in Japan in September 2020 and globally in October 2020. This B5L Series can be incorporated with autonomous robots and can be used for the automation of various other machinery and equipment. Thus, the growing initiative by the key players in the development of ToF solutions is fueling the growth of the time-of-flight sensor market in Asia Pacific.
The overall time-of-flight sensor market size has been derived using both primary and secondary sources. To begin the time-of-flight sensor market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the time-of-flight sensor market. The process also serves the purpose of obtaining an overview and market forecast of the time-of-flight sensor market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the time-of-flight sensor market.
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TABLE OF CONTENTS
• Time-of-Flight sensor Market Landscape
• Time-of-Flight Sensor Market- Key Market Dynamics
• Time-of-Flight Sensor Market– Global Market Analysis
• Time-of-Flight Sensor Market Analysis – by Device Type
• Time-of-Flight Sensor Market Analysis – by Vertical
• Time-of-Flight Sensor Market – Geographic Analysis
• Impact of COVID-19 Pandemic on Time-of-Flight sensor Market
• Industry Landscape
• Company Profiles
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