3D Camera Market is Projected to Reach $142.03 Billion by 2030, Growing at a CAGR of 31.9% .

Allied Market Research published a report, titled, "3D Camera Market by Technology (Time-of-flight, Stereo Vision, and Structured Light), Type (Target Camera and Target-free Camera), and Application (Professional Camera, Smartphone, Tablet, Computer, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to the report, the global 3D camera industry was estimated at $8.89 billion in 2020, and is anticipated to hit $142.03 billion by 2030, registering a CAGR of 31.9% from 2021 to 2030.

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Drivers, Restraints, and Opportunities-

Rise in demand for 3D content from the entertainment industry, improvement in 3D scanning technology, and enhanced user taste & preferences drive the growth of the global 3D camera market. On the other hand, certain price-based constraints restrain the growth to some extent. However, growing inclination toward home automation is expected to create lucrative opportunities in the industry.

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Covid-19 Scenario-

The outbreak of the pandemic gave way to dearth of skilled professionals to operate the technology, which impacted the market negatively, especially during the initial phase of the pandemic.
Also, shutdown of the majority of manufacturing units led to a steady downfall, in terms of revenue.
However, the market is projected to revive soon.
The Target-free Camera Segment to Dominate by 2030-

Based on type, the target-free camera segment accounted for around three-fifths of the global 3D camera market share in 2020, and is anticipated to rule the roost by 2030. The segment is driven by the features of target-free focused 3D cameras such as its simplicity and ease of use. The target camera segment, however, would cite the fastest CAGR of 32.7% throughout the forecast period. Rise in demand for real-time surveillance systems to capture precise details and keep track of multiple objects propels the growth of the segment.

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The Stereo Vision Segment to Maintain the Dominant Share-

Based on technology, the stereo vision segment held around three-fifths of the global 3D camera market revenue in 2020, and is expected to lead the trail by 2030. The key factor contributing to the adoption of this system is its cost effectiveness as compared to structured light and TOF technologies. The structured light segment, on the other hand, would manifest the fastest CAGR of 33.3% from 2020 to 2030. Increase in demand for reverse engineering, metrology, and inspection applications fuels the segment growth.

North America, Garnered the Major Share in 2020-

Based on region North America held the major share in 2020, generating around two-fifths of the global 3D camera market. This is because 3D target cameras in North America are extensively used in developing military applications. The Asia-Pacific region, simultaneously, would grow at the fastest CAGR of 35.5% by 2030. This is attributed to the fact that the presence of numerous leading companies in countries such as Japan, Malaysia, and Taiwan are offering numerous 3D cameras in the Asian market. Increased adoption of professional 3D cameras is witnessed in the field of entertainment, gaming, electronic gadgets, and surveillance

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Key Players in the Industry-

Faro Technologies Inc.
GoPro Inc.
Canon Inc.
Panasonic Corporation
Sony
Intel Corporation
LG Electronics Inc.
Fujifilm Holdings Corporation
Nikon Corporation
Samsung Electronics Co. Ltd.

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