Report : Middle East & Africa Time-of-Flight Sensor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Device Type (RF-Modulated Light Sources With Phase Detectors, Range-Gated Imagers, and Direct Time-of-Flight Imagers), Vertical (Automotive, Consumer Electronics, Gaming and Entertainment, Industrial, Healthcare, Aerospace & Defense, and Others)
At 16.4% CAGR, the Middle East & Africa Time-of-Flight Sensor Market is speculated to be worth US$ 268.00 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa time-of-flight sensor market was valued at US$ 107.61 million in 2022 and is expected to reach US$ 268.00 million by 2028, registering an annual growth rate of 16.4% from 2022 to 2028. Rising adoption of time-of-flight technology in smartphones and increasing use of time-of-flight technology in autonomous mobile robots are the critical factors attributed to the Middle East & Africa time-of-flight sensor market expansion.
Image sensor based on time-of-flight technology uses a laser beam to accurately measure the distance to the target object. Therefore, the demand for technology in mobile devices is increasing tremendously, specifically for photography features such as blurring effects and auto-focus. In addition, the demand for 3D facial mapping for features such as facial unlocking of the smartphone is raising the demand for time-of-flight cameras in the market. Owing to the increasing demand for time-of-flight technologies, the market players are working on incorporating the technology into smartphones. In August 2022, Samsung announced that they are working on the ISOCELL Vizion 3D ToF camera sensor. The company will incorporate this technology in its new Galaxy S21 series, which will be released in 2023. Through this technology, the company claims to provide better facial recognition and depth sensing capabilities with an accurate and immersive augmented reality experience. Moreover, in June 2022, Sony Group Corporation introduced the ToF AR toolkit for AR developers. The application supports Android and iOS devices. ToF AR uses the back-illuminated ToF 3D image sensor to obtain real-time high-resolution and high-precision 3D depth information. It is also ideal for 3D face recognition, 3D scanning, autofocus assistance, and the bokeh effect for cameras. Thus, the growing adoption of time-of-flight technology in smartphones will fuel the growth of the Time-of-Flight Sensors market in the coming years.
On the contrary, low integration of time-of-flight sensors in smartphones due to their high cost the growth of Middle East & Africa time-of-flight sensor market.
Based on device type, the Middle East & Africa time-of-flight sensor market is segmented into RF-modulated light sources with phase detectors, range-gated imagers, and direct time-of-flight imagers. The range-gated imagers segment held 53.2% market share in 2022, amassing US$ 57.27 million. It is projected to garner US$ 147.90million by 2028 to expand at 17.1% CAGR during 2022–2028.
Based on vertical, the Middle East & Africa time-of-flight sensor market is segmented into automotive, consumer electronics, gaming and entertainment, industrial, healthcare, aerospace and defense, and others. The consumer electronics segment held 49.9% market share in 2022, amassing US$ 53.68 million. It is projected to garner US$ 127.40 million by 2028 to expand at 15.5% CAGR during 2022–2028.
Based on country, the Middle East & Africa time-of-flight sensor market is segmented into the South Africa, Saudi Arabia, UAE, and the Rest of MEA. Our regional analysis states that South Africa captured 45.1% market share in 2022. It was assessed at US$ 48.57 million in 2022 and is likely to hit US$ 127.61 million by 2028, exhibiting a CAGR of 17.5% during the forecast period.
Key players dominating the Middle East & Africa time-of-flight sensor market are Analog Devices Inc, Infineon Technologies AG, InvenSense Inc, Keyence Corp, OMRON Corp, Panasonic Holdings Corp, Sony Group Corp, STMicroelectronics NV, Teledyne e2v (Overseas) Holdings Ltd, and Texas Instruments Inc among others.
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