A newÂ MarketsandMarketsÂ report forecastsÂ theÂ three-dimensionalÂ sensor market to be worth $3.4 billion by 2020 and achieve a compound annual growth rate of 23.43 percent over the next six years.
The market research and consulting firm said MondayÂ that it attributes the potential growth toÂ continued research and development, supply chain and distribution improvements, and potential applications in the consumer, media and entertainment and automotive industries.
The reportÂ also identified ASUSTeK Computer, Cognivue, IFM Electronic, Infineon Technologies, LMI Technologies, Prime Sense, SoftKinetic and Source Fire as the major players in the market.
MarketsandMarkets said theÂ Asia-Pacific region has the biggest market shareÂ andÂ the Americas region has the fastest-growing market, led by the U.S.
Besides geography, the report also analyzes the 3D sensorÂ marketÂ by technology, product, type and application, as well as studies the trends, drivers and challenges in the market.
“The market is witnessing large scale collaborations and partnerships across the value and supply chain, among the number of tier-one players around the globe,”Â MarketsandMarkets said.