According to the research report titled ‘3D Time-of-Flight Sensor Market to 2027 - Global Analysis and Forecasts by Type (Half-QQVGA ToF Image Sensor, QVGA ToF Image Sensor, VGA ToF Image Sensor, and 1 MP ToF Image Sensor); Application (Consumer Electronics, Automotive, Entertainment, Machine Vision and Industrial Automation, Robotics and Drone, Others)’ available at MarketStudyReport.com, the global 3D time-of-flight sensor market was worth USD 332.29 million in 2018 and is estimated to grow with a CAGR of 6.3%, hence reaching USD 568.97 million by the year 2027.
 

Robust advancements in tandem with rising automotive and machine manufacturing industry are major factors driving the growth of 3D time-of-flight (ToF) sensor market. The 3D ToF sensor facilitate in providing advanced features in consumer electronics devices. Thus, incorporation of smart feature in electronics, coupled with surging need of smart electronics among consumers are aiding the market expansion. 
 

Additionally, technological advancements such as integrating depth sensing technology with Edge AI systems will also contribute to 3D time-of-flight sensor market growth. Depth sensing, when integrated with AI systems enables in gathering large data that can be processed to provide actionable insights. Moreover, transport and logistics operations are greatly improved due to wide opening and highly accurate deep sensing technology that is provided by 3D ToF sensors, which in turn is augmenting the demand for such sensors.
 

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Based on application spectrum, 3D time-of-flight sensor market is categorized into segments such as automotive, consumer electronics, machine vision & industrial automation, robotics & drones, entertainment, and others. According to the report, 3D ToF sensor market from automotive segment is presumed to register significant growth over the analysis timeline, since the technology offers features such as car passenger detection, real-time body pose detection, and steering wheel hand on/off detection for advanced vehicles.
 

The prominent companies operating in the 3D time-of-flight sensor industry are AMS AG, Adafruit Industries, Infineon Technologies AG, IFM Electronic GmbH, Melexis, Keyence Corp., Sony Corp., Teledyne Technologies Incorporate, STMicroelectronics N.V, and Texas Instrument Incorporated.