The Time-of-Flight (TOF) Sensor Market size is expected to grow from USD 4.56 billion in 2023 to USD 8.36 billion by 2028, registering a CAGR of 21.07% during the forecast period (2023-2028).
The Time-of-Flight (TOF) Sensor Market is highly fragmented. The brand identity associated with established companies, like Sony Corporation and STMicroelectronics NV, includes a major influence in this market. Strong brands are synonymous with good performance, so long-standing players are expected for an upper hand. Considering their market penetration and the ability to invest in new technologies, the competitive rivalry is expected to continue to be high. Moreover, vendors are investing significantly in the market due to increasing competition.
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