3D Camera Market to Grow at USD 16.41 Billion by 2025
by Susan Hill Business ConsultantThe global 3D camera market is expected to reach USD 16.41
billion by 2025, according to a new report by Grand View Research, Inc. It is
anticipated to expand at a CAGR of 35.8% during the forecast period. The growth
is attributed to increasing product adoption in the entertainment industry
coupled with advancements in 3D technology. Rising demand for 3D content in
entertainment segment and related equipment is anticipated to further fuel the
product demand.
Growing scope of 3D imaging
in home automation, virtual reality, robotics and video surveillance, 3D
modelling, and 3D scanning is expected to boost the market growth over the
forecast period. Growing application of surveillance in home security, military,
and industrial sector is driving the demand for 3D camera across the globe.
Increasing demand for 3D content in gaming and entertainment industry coupled
with increasing penetration of 3D technology-enabled devices such as
smartphones, tablets, and TVs is boosting the product demand.
Technology giants such as
Google, Microsoft, and Apple are investing millions of dollars to increase the
efficiency of hardware to identify the depth and distance of objects. Accurate
depth and distance recognition is essential in technologies such as augmented
reality, robotics, and automated cars; making 3D camera the most suitable
equipment. Despite the wide application across various industries, price higher
than traditional 2D and digital
cameras is expected to hinder growth of the 3D camera market.
By Technology, the 3D camera
market is segmented into stereo vision, time of flight, and structured light.
Stereo vision 3D camera held the largest market share in 2018 and is expected
to expand at a CAGR of 35.7% over the forecasted period. Easy handling coupled
with low price make 3D cameras more popular among consumers. They also exhibit
adjustable range making them more suitable for applications such as 3D movies
and photos, range images, and stereo views. Time of flight 3D cameras is
projected to expand at the fastest CAGR owing to wide product application in
smartphones, drones, healthcare, industrial, automotive, and other industries.
Resistance to ambient time and use of a single viewpoint to calculate depth
makes it robust to occlusions and shadows and preservation of sharp depth
edges.
Asia Pacific held the
largest market share of approximately 35.0% in 2018 and is expected to exhibit
the fastest CAGR of 39.3% over the forecast period. The growth is attributed to
several factors such as increasing penetration of smartphones, growth of the
entertainment industry, rising disposable income coupled with low ownership of
cameras among consumers. In Asia Pacific, smartphone and tablet segment is
expected to expand at a CAGR of 40.8% over the forecasted period.
Further key findings from the report suggest:
- Time of flight 3D camera is expected to
register the fastest CAGR over the forecast period, owing to resistance of
the technology to ambient time and use of a single viewpoint to calculate
depth that makes it robust to occlusions and shadows and preservation of
sharp depth edges
- Asia Pacific holds the largest market
share and is expected to expand at the highest CAGR over the forecast
period owing to increasing penetration of smartphones, enhancing
entertainment industry, and increasing disposable income
- Some of the key players operating in the
global 3D camera market include Cannon; Fujifilm; Nikon; GoPro Inc.; Eastman
Kodak Co; Panasonic Corporation; and Sony Corporation
Access full research report on global 3D
camera market:
www.grandviewresearch.com/industry-analysis/3d-camera-market
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Created on Jun 4th 2020 14:52. Viewed 312 times.