Press release
Global 3D Camera Market Industry Trends, Estimation & Forecast, 2018 - 2025
The growing scope of 3D imaging in home automation, virtual reality, robotics, and video surveillance is boosting the demand for 3D cameras. Also, the demand for generating 3D models of the objects and surroundings has increased owing to the ease of usage and accuracy. Surging demand for 3D scanning is expected to boost the market growth over the forecast period. The growing application of surveillance in home security, military, and industrial sectors is projected to drive the adoption of 3D cameras across the globe.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 the high-income levels of the population in the developing countries especially in Asia-Pacific, there is a change in the preferences of audiences. Hence, the growth of 3D content in the media & entertainment field is anticipated to drive the adoption of 3D cameras.
“Global 3D Camera Market is estimated to be USD1920 million in 2018 and it is expected to reach more than USD xx million by 2025, likely to grow at a CAGR of 38.3% during the forecast period”
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Increasing demand for 3D content in the gaming and entertainment industry coupled with increasing penetration of 3D technology-enabled devices such as smartphones, tablets, and TVs. The rising popularity of 3D movies is directly driving the demand for professional cameras for shooting the content in 3D. Big tech companies such as Google, Microsoft, and Apple are investing millions of dollars to increase the efficiency of hardware to identify the depth and distance of objects. Accurate depth and distance recognition is essential in technologies such as augmented reality, robotics and automated cars, widening the scope of application for 3D cameras.
Asia Pacific held the largest market share in 2018 and is expected to expand at the fastest CAGR of 39.3% over the forecast period, attributed to several factors such as increasing penetration of smartphones, enhancing the entertainment industry, increasing disposable income, and low camera ownership. The smartphone and tablet segment in the region is expected to expand at a CAGR of 40.8% over the forecast period.
North America market is anticipated to witness growth owing to the rising adoption of the product in military application. Wide adoption of professional cameras can be attributed to the growing popularity of 3D movies and the presence of the huge film industry in the region.
Major market players include Cannon; Fujifilm; Nikon; GoPro Inc.; Eastman Kodak Co; Panasonic Corporation; Sony Corporation; LG Electronics; Samsung Electronics Corp; and Faro Technologies Inc. Rising adoption of smartphones and consumers’ inclination toward 3D technology and cameras is attracting many smartphone manufacturers to enable smartphones with 3D cameras. Huawei Technologies Co is planning to unveil a new phone with a 3D image capturing technology in 2019.
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