3D Camera Market Revenue will Reach $12 Billion By 2025, Says Esticast Research and Consulting
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As per the report “3D Camera Market By Type (Target camera, Target free camera), By Application (Computer, Smartphone, Tablet, Professional camera), By Technology (Time of flight, Stereovision, Structured light), Industry Trends, Estimation & Forecast, 2018 – 2025″. The global 3D Camera market was valued at 1.31 billion in 2017, and is projected to reach $12 billion by 2025, growing at a CAGR of 35.5% from 2018 to 2025.
In 2017, stereo vision 3D camera segment held a considerably large share of the overall market.
“Since the past decade, a persistently swelling demand for 3D content has catalyzed the inclusion of 3D scanning technology within the film and entertainment industry. This has led the major camera manufacturers to invest more uponthe research and development activities for the advent of innovative camera systems, which could be incorporated with a wide range of applications.”
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Owing to the hiking trend of image modeling and 3D filming, the stereo vision 3D camera segment is expected to dominate the overall market
The stereo vision technology provides a simpler implementation and highly adjustable range as compared to other technologies, and is practically suitable for a wide range of research activities. This is because the very technology provides hardware and software packages which include features such as image correction, alignment, dense correlation, stereo mapping and others. In the current scenario, film makers are preferring stereographic capturing of images in order to eliminate the hectic compilation of two different images in order to create a 3D effect. Stereo vision works in a similar way to 3D sensing in human vision and hence can create correspondences for every pixel in the stereo image. This provides millions of 3D values from every single stereo image. The high reliability and efficacy of stereo 3D cameras in extracting the information related to color and depth, has led to its application within various activities such as tracking objects and detecting motion. Apart from that stereo camera technology is also witnessing huge demand from the virtual gaming and robotics industry, owing to its sophisticated 3D sensing capabilities. The very segment is held more than 50% of the total market revenue in 2017.
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Asia–Pacific to lead the global market, owing to the concentrated presence of electronics industry within the region
Geographically, the Asia Pacific region is expected to dominate the 3D camera market, holding more than 1/4th of the overall revenue generation in 2017. Countries such as China, South Korea and Japan are the biggest harbors for electronics industry, having the presence of some of the major market giants such as Sony Corporation, LG Electronics, Nikon and many more. The market players operating in the Asia-Pacific region have now adopted 3D imaging technology as their major standard to develop and improvise their products. This is because of the increased adoption of 3D cameras in designing, architecture, healthcare, construction, virtual reality applications and the entertainment industry. Since the past decade, India, China and Australia have witnessed a steep rise in the adoption of smartphones which has substantially propelled the demand for 3D smartphone cameras. Moreover, rapidly rising disposable income, growing trend of digitalization and changing lifestyle can be considered as the major drivers which are providing a promising growth for the Asia Pacific 3D camera market. However the market in the countries falling under Middle East and Latin America is expected to exhibit an impressive growth rate in the near future.
Strategic collaborations, technological advancements and product launches have emerged out as some of the most adopted technologies among the key players operating the 3D camera market. Some of the key market players include Nikon, Samsung, Panasonic, Faro Technologies, Fujifilm Corp, Go pro, Intel Corporation, Samsung Electronics Corp, Sony and LG electronics Corp.