Computational Photography Market Registering a Strong Growth by 2025
Computational photography is the use of superior hardware such as high quality sensors to capture images with high resolution and then processing them with the use of various software which apply various algorithms in order to create an image with high dynamic range and improved picture quality using de blurring algorithms, tone mapping algorithms, matting algorithms and many more. As a result, Computational photography, has high growth potential and therefore, the Computational photography market is anticipated to witness healthy double digit CAGR in the near future.
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Global Computational Photography Market: Market Dynamics
The rising trends of sharing videos and images with growing use of social media networking is the major factor driving the growth of computational photography market. Individuals today tend to remain connected globally, through social media apps, such as what Sapp, Facebook. All this has led to integration of high end cameras in smartphones. Moreover, the smartphone penetration has increased globally, further encouraging the adoption of high end smartphones with advances cameras.
Also the rapid advancements in technology, has led to numerous developments in terms of image processing where individuals can capture and generate high quality images, manipulate them using various apps, and share them with their convenience. With the rise in disposable incomes and enhanced standard of living, the computational photography market, is anticipated to boost exponentially in the near future.
However, less awareness and high costs involved in computational photography techniques may restrain the growth of computational photography market in underdeveloped regions such as Latin America and MEA.
Global Computational Photography Market: Segmentation
Global Computational Photography market is segmented on the basis of application and region.
On the basis of application, the global Computational Photography market can be segmented into smartphone, camera, standalone camera and machine vision.
Global Computational Photography Market: Competition Landscape
The key vendors in the global Computational Photography market are Apple Inc., Google, Qualcomm Technologies, Inc., NVIDIA Corporation, Light, Algolux, Movidius, ALMALENCE INC., and Pelican Imaging.
In October 2015, Google acquired Digisfera, a startup focused on panoramic images. The acquisition was aimed at enhancing the customer experience with Street View technology developed by Google for Google Maps, by using 360 degree photography.
Global Computational Photography Market: Regional Outlook
Regionally, the global Computational Photography market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
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In the developed economies of the North America and Western Europe, there is a high focus on innovations owing to rising disposable income and high presence of vendors. As a result, North America has the highest revenue contribution to computational photography market. APAC region is also expected to be the show significant growth rate for computational photography market owing to a large number of smartphone manufacturers in the region.
The underdeveloped economies such as MEA and LA are anticipated to have slow adoption but as the cost reduces these economies are anticipated to witness moderate growth rate for Computational Photography market.
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