The global 3D camera market is expected to witness a CAGR of 50.2% during the period 2016-2022, registering revenue of $19,893.0 million by 2022. The application of 3D camera in professional cameras’ has dominated the application segment of 3D camera market, with 66% share in the global market in 2015. The technologically advanced products paired with rising penetration of smartphones would further fuel the market for 3D camera. The developing economies such as India and China are witnessing the major growth prospects for 3D camera. Remote monitoring and home automation & surveillance are other areas of applications, which would witness rise in adoption for 3D camera during the forecast period.
Media & entertainment industry is witnessing an enhanced usage of 3D content, which fuel the market growth for 3D camera. Moreover, the adoption of 3D camera enabled smartphones, laptops and tablets would also enable the market growth. Home surveillance and other major surveillance area such as public places are attracted towards the adoption for 3D camera enabled surveillance system in order to get better tracking and monitoring. The high price of 3D cameras’ is somehow restricting the growth of the market with its potential.
The 3D camera market is segmented into target camera and free camera, based on its type. Currently, free cameras have dominated the market owing to its less complexity in design. The dominance of free cameras would continue throughout the forecast period and would reach to a market value of $13,465.6 million by 2022, growing at CAGR of 49.6% during the forecast period.
Based on the applications, the 3D camera market is bifurcated into professional cameras, smartphones, tablets, computer and others. Other applications includes mobile robots and home automation equipment. Professional cameras accounted for higher revenue share in 2015, however the maximum growth is expected to be witnessed in tablet segment during the forecast period.
Time of flight, stereo vision and structured light imaging are the commonly used technologies in the 3D camera market. The simplicity and easy to use features of stereo vision cameras had made it more popular among other types of 3D camera. Hence, the market for stereo vision 3D camera would reach a market value of $10,915.6 million by 2022. Time of flight cameras would grow rapidly at a CAGR of 55.4% during the forecast period.
The 3D camera market is segregated into North America, Europe, APAC (Asia Pacific), and LAMEA (Latin America, Middle East & Africa), based on the geographies. The market for 3D camera was dominated by North American region till 2014, however, it is estimated that Asia-Pacific would show its dominance from 2015 onwards, attaining a market value of $8,223.9 million in 2022.
Sony Corporation, Nikon Corporation, GoPro Inc., Samsung Electronics Co. Ltd., Canon Inc., Panasonic Corporation, LG Electronics Faro Technologies Inc., Eastman Kodak Company and Fujifilm Holdings Corporation are the major companies highlighted in this report. Product launch and collaboration are the two key strategies the major players are adopting to penetrate the major market.
News Courtesy: P&S Market Research