3D camera Market Will Expand in the Coming Decade as Per Report
According to the report, the global 3D camera market was pegged at $1.67 billion in 2018 and is projected to reach $11.13 billion by 2024, registering a CAGR of 37.1% from 2018 to 2024.
Rise in demand of 3D content from the entertainment industry, enhancement in 3D scanning technology, and improved user taste & preferences have boosted the growth of the global 3D camera market. However, high cost and lack of awareness hamper the market growth. On the contrary, rise in home automation application and virtual reality application are expected to create lucrative opportunities in the near future.
The global 3D camera market is segmented on the basis of technology, type, application, and geography. Based on technology, the market is bifurcated into time of flight (TOF), stereo vision, and structured light imaging. The stereo vision segment held the largest share in 2018, contributing nearly three-fifths of the market and is expected to maintain its dominance throughout the market. However, the structured light imaging segment is projected to register the fastest CAGR of 38.4% during the forecast period.
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On the basis of type, the market is bifurcated into target camera and target free camera. The target camera segment is expected to portray the fastest CAGR of 38.0% through 2024. However, the target free camera segment held the largest share in 2018, accounting for more than three-fifths of the market.
Based on application, the market is categorized into professional camera, smartphone, tablets, computer, and others. The tablets segment is estimated to register the fastest CAGR of 41.1% during the forecast period. On the other hand, the professional camera segment held the lion’s share in 2018, contributing more than half of the total revenue generated.
The global 3D camera market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held the largest share in 2018, contributing around one-third of the market. However, the market across LAMEA is estimated to manifest the fastest CAGR of 39.3% during the study period.
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The global 3D camera market report includes analysis of the major market players such as Nikon, Samsung, Sony, Panasonic, Faro Technologies, Fujifilm Corp, Go Pro, Intel Corporation, LG electronics Corp, Samsung, and Electronics Corp.
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