The 3D sensor market is very dynamic, entailing great potential across many industry verticals. The advancements in technology due to the never-ending R&D in this sector makes it one of the prominent segments in the current industrial scenario. 3D sensor products have been experiencing continuous developments since their inception. 3D sensor technology feature highlights include high efficiency, better properties to withstand rough environmental conditions, and longer operating life, all well suited for consumer, automotive, and media and entertainment applications.
Asia-Pacific is the largest geography in terms of today's 3D sensor market value. Americas has been identified as the fastest growing region and a leader in the 3D sensor systems, with the U.S leading the way. Europe is also a very promising market, with Germany and the U.K. in the lead, while the ROW also provides impetus for market growth. The competitive landscape of the market presents a very interesting picture, where a large number of small players have become forces to reckoned with. The market is witnessing large scale collaborations and partnerships across the value and supply chains, among the number of tier-one players around the globe. The 3D sensor market is estimated to be worth $3,438.25 million by 2020, growing at a CAGR of 23.43% from 2014-2020.
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