The global depth sensing market is experiencing significant growth and is estimated to grow considerably in the next few years. Depth sensing technology is defined as a process of using a depth sensor device to measure distance to an object. It is used by smartphone manufacturers to enable facial recognition and verification of devices. This technology senses depth  in real time and generates 3D point cloud of data in different situations. Depth sensing technology is combined with many other technologies such as artificial intelligence and is spread across various industry verticals. Depth sensing is one of the very active areas of computer vision research with  continuos innovations.

The global depth sensing market is segmented on the basis of Type, Application, Industry Vertical. Based on Type, the market is divided into Active Depth Sensing and Passive Depth Sensing, and others. On the basis of Application, the market is categorized into Navigation Systems, Quality Inspection, Logistics, Facial Recognitions, and Others, and others. On the basis of Industry Vertical into Automotive, Marine, Military, Healthcare, Consumer Electronics, and Others Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global depth sensing market include Occipital, BECOM BLUETECHNIX, Intel, Melexis, Tower semiconductor, Vrmagic, Aquifi, Nerian Vision Technologies, Qualcomm, Texas Instruments, Stereolab, Creative, Pmdtechnologies, Sony Depthsensing Solutions. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market.

COVID-19 scenario Analysis:

• The global depth sensing market size has been significantly impacted by the COVID-19 outbreak. Due to the ongoing worldwide lockdown, the market is estimated to observe a sluggish growth.
• The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand are gradually going to increase.
• Global factories have struggled to manufacture and assemble new devices as workers have stayed in their homes and even already available devices in various warehouses cannot be transported due to current rules and regulations, which, in turn, has disrupted the global supply chains.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Rise in usae of smartphones with latest technology innovations is the major driving force behind the growth of the depth sensing industry. Depth sensing has been used for various aplications such as navigation systems, quality inspection, logistics, and facial recognitions. Virtual realty gaming fuels growth of the depth sensing market growth, owing to increase in adoption and popularity of video games. Moreover, increase in use of depth sensing in other sectors such as automotive, military & defense, and healthcare is expected to boost the depth sensing market share. However, high cost of manufacturing of depth sensing restricts growth of the market growth.    

Surge in use in military & defense applications 

Depth sensing technology is used in military & defense applications to detect presence of enemy activities. They are also used for security and surveillance purpose. With the use of the depth sensing technology, monitoring activities of enemies at borders has been equally helpful in the military & defense applications.     Depth sensing technology is used in military armoured vehicles. They can be installed on the helmets for range detection of enemies. 

Depth sensing technology has been used by most countries to strengthen their military force. Countries such as the U.S., China, Israel, India, and Russia are continuously increasing their military capabilities by introduction of depth sensing technology in various applications, which contributes toward growth of the market

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed global depth sensing market analysis.
• The depth sensing market trends are quantitatively analyzed from 2020 to 2027 to highlight the global depth sensing market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in the coming years. 

Market scope and structure analysis:

Questions answered in the Depth Sensing Market research report:

• Who are the leading market players active in the depth sensing market forecast?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the depth sensing market?
• What are the projections for the future that would help in taking further strategic steps?