Time-of-flight (TOF) Sensor Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.52 Billion |
| Market Size (2029) | USD 10.12 Billion |
| CAGR (2024 - 2029) | 21.07 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
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*Disclaimer: Major Players sorted in no particular order |
Time-of-flight (TOF) Sensor Market Analysis
The Time-of-Flight Sensor Market size is estimated at USD 5.52 billion in 2024, and is expected to reach USD 10.12 billion by 2029, growing at a CAGR of 21.07% during the forecast period (2024-2029).
- The market under study is driven by the rising demand for smartphones equipped with 3D cameras. One of the smartphones' most notable and popular features is their toF cameras. Additionally, it is noted that more people worldwide are subscribing to mobile networks for smartphones. According to Ericsson, smartphone mobile network subscriptions worldwide reached approximately 6.6 billion in 2022 and are expected to surpass 7.8 billion by 2028. The nations with the most smartphone mobile network subscriptions are China, India, and the United States.
- This market's expansion is primarily fueled by rising automotive industry demand for ToF sensors, rising 3D camera use in smartphones, and rising smartphone usage. The market for ToF sensors contains a lot of room to develop because of the expanding use of Industry 4.0 and 3D machine vision systems across various industries.
- As per Edison Investment Research and OICA, forward-facing automotive camera unit sales will increase in Western Europe from 2016 to 2025. By 2025, some 15.5 million forward-facing automotive camera systems are expected to be sold in Western Europe, which also includes 3D cameras altogether.
- Additionally, 3D imaging and scanning will rule the market for ToF sensors throughout the expected timeframe. An object can be turned into a 3D model using 3D scanning technology. The specific area and dimensions of the object are collected, and this mapping data can be used for designing using depth sensing. Future years will see a rise in the adoption of 3D scanning technology because it is easy to use. Time-of-flight technology is an active type of 3D image and scanning technology. Structured light and stereo vision, the other two 3D imaging techniques, are slower, less trustworthy, and use more energy than ToF. ToF technology is anticipated to experience an increase in demand for 3D imaging and scanning applications because of its accessibility.
- TOF technology includes the benefits of long working distances, wide application range, and high distance accuracy. However, there are many disadvantages. For instance, the current mainstream ToF sensor on the mobile phone includes a relatively low resolution (180*240, 240*320, 240*480, etc.), so the accuracy and X/Y resolution in the close range may be relatively low.
- The rising use of cameras in AR and VR may open up new opportunities for the market in post-COVID-19 recovery. Sony Corporation introduced the IMX500, which includes both processing power and memory. This image sensor performs machine learning (ML) and aids in powering computer vision processes without using any external hardware. 3D ToF image sensors could be used in smartphones to provide 3D awareness of the environment for AR/VR applications.
Time-of-flight (TOF) Sensor Market Trends
Consumer Electronics to be the Largest End User
- The demand for Time-of-Flight sensors is increasing owing to their applications in smartphones, tablets, household robots, digital cameras, smart speakers, and PC projectors. However, devices concerning the gaming and entertainment industry are excluded from the segment. A ToF camera sensor measures the distance and volume and offers object scanning, indoor navigation, obstacle avoidance, gesture recognition, object tracking, and reactive altimeters.
- In smartphones, ToF sensors are used for various purposes, including biometric security (particularly facial recognition, cameras, movement tracking, and others. ToF sensors make the smartphone camera superior. It is used in mobile devices for photography features such as blurring effects and auto-focus and enables the camera to capture objects, background, and movement of human body parts. Moreover, it also provides an eye-catching special effect, particularly in fast-action scenes.
- According to Ericsson, worldwide smartphone subscription is expected to reach 7,516.0 million units by 2026. Thus, the increasing adoption of high-end smartphones led smartphone manufacturers to introduce advanced features to stay ahead of the competitors. It contributed to the TOF sensors market growth and is expected to do so over the study period. In line with this, in August 2022, Samsung announced it is working on its version of the 3D ToF sensor, which may debut with the Galaxy S21 series. The sensor in the smartphone will bring better face recognition and depth sensing capabilities.
- Several leading manufacturers operating in the market studied are focusing on developing new products to meet the growing demand. For instance, in June 2022, STMicroelectronics NV announced its newest FlightSense ToF ranging sensor for smartphone camera management and virtual/augmented reality. It features innovative metasurface lens technology and an energy-efficient architecture that reduces battery drain, extends the camera's autofocus range, and improves scene understanding.
- Furthermore, the rapidly growing smart home concept increased the demand for household/service robots in developed countries. ToF sensors in service robots detect motion to determine the presence of objects and people. The sensor can also work in any lighting conditions, including full sunlight, and provides accurate range measurements independent of the target's color and optical transparency. Moreover, the changing lifestyle, growing urbanization, and increasing penetration of smart consumer products created a favorable scenario for the studied market growth during the forecast period.
Asia-Pacific is Expected to Hold Significant Market Share
- China is the world's largest producer and exporter of consumer electronics, providing the sector with numerous potential for expansion. Additionally, the region's electronics manufacturing sector continued expanding steadily. According to research by the China Academy of Information and Communications Technology, major electronics manufacturers' added value increased 12.7% year over year between January and February 2022, as opposed to the country's total industrial sector's 7.5% rise.
- The consumer electronics market in China is expanding rapidly, reflected in the leading electronics companies' rising added value and rising demand for electronics in the nation. By enabling capabilities like facial recognition, gesture control, and depth sensing, ToF sensors significantly improve the usability and functionality of these gadgets. The need for ToF sensors is projected to rise as the consumer electronics market grows.
- Japan includes a robust consumer electronics market. ToF sensors are used in virtual reality (VR) headsets, gaming consoles, smartphones, and tablets. Market expansion was likely encouraged by consumer demand for these products and their integration with ToF sensors.
- In India, the ToF sensors market is fueled by the rising demand for premium and flagship smartphones and the rising demand for enhanced camera features, AR/VR apps, gesture recognition, face unlock, gaming, and AI capabilities. As customers place greater value on these functionalities, manufacturers of smartphones are anticipated to use ToF sensors more frequently. It will increase the size of the ToF sensors market in India.
- The other countries considered in the Asia Pacific region in this study are Australia, and all Southeast Asian Countries, among others. These countries also include a high potential for gaining a considerable market share. Growing demand for high-end smartphones and other consumer electronics products from countries such as the Republic of Korea and Singapore encourages many companies to set up production establishments in the Asia-Pacific region. The abundant availability of raw materials in countries such as Taiwan, the low establishment of facilities, and labor costs also helped the companies launch their regional production centers.
Time-of-flight (TOF) Sensor Industry Overview
The Time-of-Flight (TOF) Sensor Market is highly fragmented. The brand identity associated with established companies, like Sony Corporation and STMicroelectronics NV, includes a major influence in this market. Strong brands are synonymous with good performance, so long-standing players are expected for an upper hand. Considering their market penetration and the ability to invest in new technologies, the competitive rivalry is expected to continue to be high. Moreover, vendors are investing significantly in the market due to increasing competition.
- June 2023: Texas Instruments Inc. announced plans to expand its internal manufacturing footprint in Malaysia with two new assembly and test factories in Kuala Lumpur and Melaka. Through this expansion, the company aims to support its plan to bring 90% of its internal assembly and test operations by 2030 and include greater supply control.
- January 2023: Hydra3D+, a new Time-of-Flight (ToF) CMOS image sensor with 832 x 600 pixel resolution designed for flexible 3D detection and measurement, is released by Teledyne e2v, a division of Teledyne Technologies. Due to an inventive on-chip multi-system management function, the sensor can operate alongside numerous active systems without interference, resulting in inaccurate data.
Time-of-flight (TOF) Sensor Market Leaders
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Texas Instruments Incorporated
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STMicroelectronics NV
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Infineon Technologies AG
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Panasonic Corporation
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Sony Corporation
*Disclaimer: Major Players sorted in no particular order
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Time-of-flight (TOF) Sensor Market News
- April 2023: Cognex Corporation, one of the leading industrial machine vision solution providers, released the In-Sight 3800 Vision System. It is designed for high-speed production lines. The In-Sight 3800 vision system offers an extensive vision toolset, flexible software, and powerful imaging capabilities to deliver a fully integrated solution for various inspection applications.
- April 2023: Delta, a power management and industrial automation solutions provider, announced the launch of the high-speed DMV-T time of flight (ToF) smart camera. The Delta DMV-T ToF camera incorporates a Sony IMX image sensor, operating with a built-in processor to offer 60 frames per second capture speed and 640x480 pixel resolution. The DMV-T targets applications in advanced robotics that require object position & status feedback, such as shelf position calibration, pick-and-place, and object dimension measurement.
Time-of-flight (TOF) Sensor Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Impact of Macroeconomics Trend on the Market
4.3 Market Drivers
4.3.1 Growing Adoption of Machine Vision Systems Across Various Industries
4.3.2 Increasing Demand for Smartphones Enabled with 3D Cameras
4.4 Market Challenges
4.4.1 Limitations of ToF Sensors
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Buyers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 RF-modulated Light Sources with Phase Detectors
5.1.2 Range-Gated Imagers
5.1.3 Direct Time-of-Flight Imagers
5.2 By Application
5.2.1 Augmented Reality and Virtual Reality
5.2.2 LiDAR
5.2.3 Machine Vision
5.2.4 3D Imaging and Scanning
5.2.5 Robotics and Drones
5.3 By End-user Vertical
5.3.1 Consumer Electronics
5.3.2 Automotive
5.3.3 Entertainment and Gaming
5.3.4 Industrial
5.3.5 Healthcare
5.3.6 Other End Users
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Rest of Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Texas Instruments Incorporated
6.1.2 STMicroelectronics NV
6.1.3 Infineon Technologies AG
6.1.4 Panasonic Corporation
6.1.5 Sony Corporation
6.1.6 Teledyne Technologies International Corp.
6.1.7 Keyence Corporation
6.1.8 Sharp Corporation
6.1.9 Omron Corporation
6.1.10 Invensense Inc. (TDK Corporation)
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
Time-of-flight (TOF) Sensor Industry Segmentation
The time-of-flight principle (ToF) is a method for measuring the distance between a sensor and an object based on the time difference between the emission of a signal and its return to the sensor after being reflected by an object. ToF sensors use a tiny laser to fire out infrared light, which bounces off any object and returns to the sensor. The sensor can measure the distance between an object and itself by measuring the time difference between the emission of light and its return to the sensor after being reflected by an object.
The Time-of-flight (TOF) sensor market is segmented by type (RF-modulated light sources with phase detectors, range-gated imagers, and direct Time-of-Flight imagers), by application (augmented reality & virtual reality, LiDAR, machine vision, 3D imaging & scanning, and robotics & drones), by end-user vertical (consumer electronics, automotive, entertainment & gaming, industrial, healthcare, and other end-users), by geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| RF-modulated Light Sources with Phase Detectors | |
| Range-Gated Imagers | |
| Direct Time-of-Flight Imagers |
| By Application | |
| Augmented Reality and Virtual Reality | |
| LiDAR | |
| Machine Vision | |
| 3D Imaging and Scanning | |
| Robotics and Drones |
| By End-user Vertical | |
| Consumer Electronics | |
| Automotive | |
| Entertainment and Gaming | |
| Industrial | |
| Healthcare | |
| Other End Users |
| By Geography | ||||||
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| Latin America | ||||||
| Middle East and Africa |
Time-of-flight (TOF) Sensor Market Research FAQs
How big is the TOF Sensor Market?
The TOF Sensor Market size is expected to reach USD 5.52 billion in 2024 and grow at a CAGR of 21.07% to reach USD 10.12 billion by 2029.
What is the current TOF Sensor Market size?
In 2024, the TOF Sensor Market size is expected to reach USD 5.52 billion.
Who are the key players in TOF Sensor Market?
Texas Instruments Incorporated, STMicroelectronics NV, Infineon Technologies AG, Panasonic Corporation and Sony Corporation are the major companies operating in the TOF Sensor Market.
Which is the fastest growing region in TOF Sensor Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in TOF Sensor Market?
In 2024, the Asia Pacific accounts for the largest market share in TOF Sensor Market.
What years does this TOF Sensor Market cover, and what was the market size in 2023?
In 2023, the TOF Sensor Market size was estimated at USD 4.56 billion. The report covers the TOF Sensor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the TOF Sensor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
TOF Sensor Industry Report
Statistics for the 2024 TOF Sensor market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. TOF Sensor analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
