The global 3D camera market is expected to witness significant growth, surpassing USD 7.0 billion by 2022. This may be attributed to increasing adoption across the entertainment segment. Advancements in 3D technology such as improved 3D content and related equipment provides high market growth opportunities.
The market is also anticipated to witness high growth owing to increasing adoption in augmented reality applications. Smartphone companies in the market focus on gaining competitive advantage by manufacturing and shipping phones with high-quality cameras. A few companies such as HTC provide smartphones with two rear cameras enabling capture of 3D pictures.
Advent of concepts such as 3D enabled devices or TVs have resulted in the popularity for 3D pictures, which is also anticipated to fuel 3D camera product demand over the next seven years. Smartphone although are not as accurate as precise engineering-grade equipment, they play a crucial role in the 3D technology marketplace. Smartphone manufacturers emphasize on 3D technology as a significant prospect to drive sales. Growing demand for high quality cameras across the smartphone segment provides opportunities for manufacturers to introduce 3D cameras as a new product offering. In addition, 3D cameras find increased usage in industrial automation industry. Acquisition of fast as well as reliable 3D data plays a pivotal role in industrial and automotive environment.
Devices incorporating 3D cameras or similar technology offer ample growth opportunities in the field of multimedia, consumer electronics, digital photography, medical and robotics. Further, 3D imaging exhibits growth potential across niche industries including home automation, security surveillance and mobile robotics, which offers avenues for industry growth.
The market is estimated to witness progressive growth owing rising adoption across several consumer electronic devices including smartphones, tablets and other such devices. Tablets segment is estimated to witness high growth over the forecast period. Asia pacific is expected to emerge as dominant regional market accounting for more than 30% of the overall market share. Further, the regional demand is expected to surpass North America over the forecast period owing to high consumer electronics penetration in countries such as China, India and Japan.
Evolving entertainment industry, virtual reality applications, growing consumer disposable income and high adoption across the home automation segment are few primary factors expected to impel market demand over the next seven years. High demand for 3D content and continuous enhancements in 3D scanning technology are also estimated to positively impact industry demand over the forecast period.
High prices and lack of end-user awareness may also pose a challenge. However, the impact of these factors over the total market demand is anticipated to decline over the next few years. Manufacturers are focusing on reducing device prices and at the same time keeping pace with innovations in order to increase product commercialization as price sensitivity among end-users is a key reason affecting growth.
3D cameras incorporate technologies including stereo visioning, time of flight and structured light. Stereo vision-based 3D cameras are estimated to witness high growth accounting for over 60% of the overall market share. These cameras exhibit adjustable range, are easy to design and are available at a much lower price and are thus highly preferred by manufacturers.
OEMs focus on upgrading their products with 3D imaging capabilities. New product development, high focus on reducing price and innovation are a few key strategies adopted by key industry participants. For instance, Sony electronics upgraded handycam series with 3D imaging capabilities. A few other crucial players in this arena include Cannon, Fujifilm, Kodak, GoPro, Nikon, Panasonic Corporation, Sony Corporation and LG.
Grand View Research offers special pricing for:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.