Technavio Divides ToF Market to Regions

BusinessWire: Techvanio market reports often feature an interesting mix of quite obvious and quite unusual statements.

Sunil Kumar Singh, a lead analyst at Technavio, reports: "The growing popularity of augmented reality and virtual reality devices, 3D scanners, and gesture recognition technologies and the high investment in driverless cars by automobile manufacturers such as Ford, Nissan, and Tesla are expected to drive the global ToF market.

The demand for camera-enabled phones has been on the rise in South America and will drive the market for ToF sensors in this region. The replacement of CCD sensors with ToF sensors in many applications will also have a major impact on the ToF sensors market. The US, followed by Canada and Brazil, is the leading revenue generating country in the region owing to the early adoption of the technology"

Global time of flight sensor market is expected to grow at a CAGR of 3% from 2017-2021. The consumer electronics segment accounted for close to 52% of the ToF sensor market share in 2016.