3D Camera Market to Reach $11,131 Million, Globally, By Top Key Players: Nikon, Samsung, Sony, Panasonic, Faro Technologies, Fujifilm Corp, Go pro, Intel Corporation, LG electronics Corp, and Samsung Electronics Corp.

In 2017, the stereo vision segment dominated the global 3D camera market in technology segment, in terms of revenue. Furthermore, based on application, professional camera led the global market in 2107, followed by smartphone. By type, target-free camera is anticipated to dominate the market throughout the forecast period. Surge in demand for 3D camera is expected to boost the market growth rapidly in the upcoming years, owing to rise in home automation and virtual reality (VR) applications.

Allied Market Research published a report, titled, Global 3D Camera Market by Technology, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2017–2024. According to the report, the global 3D camera market garnered $1.21 billion in 2017, and would generate $11.13 billion by 2024, registering a CAGR of 37.1% during the forecast period, 2017–2024. Asia-Pacific contributes to the highest revenue in the market in 2017. China registered the highest market share in the Asia-Pacific market. However, Germany contributed to the highest rate in the European market. However, the U.S. contributes to the highest market share in North America.

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Rise in demand for 3D content in the entertainment industry and advent of 3D scanning technology facilitate the market growth. However, high initial cost and lack of awareness regarding 3D camera restrain the growth in the market. Focus on development of innovative cameras as 3D technology progresses create new opportunities in the market.

The market is segmented based on technology, type, application, and region. The technology segment includes time-of-flight, stereo vision, and structured light. The type segment includes target camera and target-free camera. The target-free camera is expected to witness increased adoption in the near future, owing to growth in demand in applications, such as smartphones, tablets, and computers. The camera manufacturers extensively use stereo vision technology owing to simplicity in implementation as compared to other technologies. The application segment consists of professional camera, smartphone, tablet, computer, and others. To gain diverse insights across the world, the market is analyzed as across North America, Europe, Asia-Pacific, and LAMEA.

Increase in demand of 3D content from entertainment industry and enhancement in 3D scanning technology impact the growth of the market. In addition, high price, lack of awareness, increase in home automation, and virtual reality applications also affect the growth of the global 3D camera market. These factors are anticipated to either drive or hamper the market growth.

The entertainment & media industry is moving toward a high definition format of content delivery. The rapid rise in HD content movies, documentaries, and games is an indicator of the previous statement. The market ecosystem is developing owing to entries of various market leaders in the production of 3D movies, 3D displays, and other applications. Due to high income levels of the population in the developing countries especially in Asia-Pacific, there is a change in the preferences of audiences. Hence, growth of 3D content in media & entertainment field is anticipated to drive the adoption of 3D cameras.

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Owing to innovations in technology, numerous sophisticated imaging applications are being introduced in the market. The technological advancements in 3D scanning technology enable end-users for depth scanning in industries such as civil infrastructure, construction, mining, and entertainment. The evolved 3D printing technology in turn drives the need for 3D scanning, along with rapid prototyping of models. The demand from end-users for sophisticated, accurate end deliverables is influenced by the availability of efficient technological products.

The customers are sensitive regarding price differences in 3D technology solutions and conventional 2D alternatives. The 3D imaging solutions are about 20-30% expensive over their 2D alternatives. Hence, 3D cameras are preferred by only those companies/customers who need highly sophisticated end deliverables. In the market, majority of players are small and medium sized companies. Such companies need efficient products; however, due to high prices, they cannot afford 3D services. Such companies prefer 2D alternatives while compromising on quality.

Analyst Review:

The 3D camera market holds high potential for the imaging industry. At present, there is an increase in demand for the 3D cameras from developing countries such as China, India, and others. Companies in this industry adopt various innovative techniques to provide customers with advanced and innovative product offerings.

Growth in demand for 3D content from entertainment industry, enhancement in 3D scanning technology, and improved user taste & preferences majorly drive the market. However, the price-based constraints and lack of awareness impede the growth of the market. In the near future, expected rise in home automation applications, virtual reality applications, and automated operations in industries is expected to create lucrative opportunities for the key players operating in the 3D camera market.

The 3D camera market offers substantial scope for growth. The market, which is in its nascent stage, is projected to grow significantly over the next seven years. In addition to capturing background details for movies and games, 3D cameras make considerable value additions to the end-deliverable. 3D cameras attain higher efficiency in gesture recognition owing to equipment monitoring, which functions on 3D technology. 3D scanning technological advancements supplement 3D camera product enhancement.

Among the analyzed geographical regions, Asia-Pacific is expected to account for the highest revenue in the global market in 2017 followed by North America, Europe, and LAMEA. However, LAMEA is expected to grow at a higher growth rate, predicting a lucrative market growth for 3D cameras.

Nikon, Samsung, Sony, Panasonic, Faro Technologies, Fujifilm Corp, Go pro, Intel Corporation, LG electronics Corp, and Samsung Electronics Corp are the key market players that occupy a significant revenue share in the 3D camera market.

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