Product Launch has Been the Key Strategy Adopted by the Market Players to Grow in the Depth Sensing Market.
The depth sensing market is highly competitive with the presence of many established and emerging players. The depth sensing market is expected to be valued at USD 7.72 Billion by 2023, growing at a significant CAGR of 11.89% between 2018 and 2023.
Product launch has been the key strategy adopted by the market players to grow in the depth sensing market. The strategy of product launches accounted for a share of ~56% of the overall growth strategies adopted by the market players between 2013 and February 2018.
Besides product launches, companies have also adopted the strategies of expansions, collaborations, partnerships, and others that collectively accounted for 44% of the overall growth strategies. These strategies are adopted by industry players to expand their business operations, product portfolio, and distribution network as well as strengthen their position and share in this market.
Stereolabs was founded in 2010 and has its headquarters in California, US. The company has presence in the US, China, and France. The company provides 3D depth and motion sensing technology based on stereo vision. Stereolabs mainly offers depth sensing cameras for autonomous robotics and the VR/AR industry for applications such as autonomous navigation, obstacle detection, 3D mapping, people detection and tracking, and mixed reality capture, as well as visual effects applications. In 2015, the company has shipped thousands of ZED cameras to developers across the world. The company adopts strategies of partnership and collaboration to gain competitive advantage in the depth sensing market. For instance, Stereolabs offers third-party integrations with Oculus Rift, Robot Operating System (ROS), and Open Source Computer Vision Library (OpenCV).
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ESPROS Photonics is an IC design and production company based in Sargans, Switzerland. In addition, the company operate through a dedicated design center, with IC design specialists, in China. The company provides time-of-flight-based chips, modules, and evaluation kits. These products are used for applications such as volumetric mapping of objects, automatic vehicle guidance, people detection and counting, and mobile robotics. The company adopts collaboration as a growth strategy to gain designing advantage over other industry players of the depth sensing market. For instance, ESPROS collaborated with TSMC (Taiwan) for production of time-of-flight sensing chips.
Related Reports:
Depth Sensing Market by Component, Type, Technology (Stereo Vision, Structured Light, Time-of-Flight), Vertical (Automotive, Building Automation, Consumer Electronics, Industrial and Medical) and Geography - Global Forecast to 2023
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