PORTLAND, Ore. -- According to a new report by Allied Market Research titled, "Global 3D Camera Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 - 2020", the global 3D Camera market is expected to reach $7,661.8 million by 2020, registering a CAGR of 39.4% during 2014 - 2020. The 3D camera applications, in smartphones, should drive the 3D camera market significantly by year 2020. About 80% of the smartphones could be enabled with 3D imaging technology by 2018.
The entertainment & media industry is witnessing a rapid surge in 3D content. Moreover, increasing use of 3D imaging for security surveillance, home automation and mobile robots, is paving the market growth for 3D camera products. The developments in 3D scanning technologies enable the market players to launch products delivering high-quality images or videos. The advent of 3D smartphones also promotes the prospects in the application of 3D technology.
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The smartphones, which are available at lowest price, amongst all 3D camera based devices, should witness rapid adoption over the forecast period. With the simplest 3D camera technology - stereo visioning; about 80% of smartphones in production could be upgraded with a 3D camera lens by the year, 2018. Numerous smartphone manufacturers, now identify with 3D technology as a significant prospect to enhance their product offerings. The application of 3D cameras in smartphones should garner a revenue of$2.02 billion by the year 2020.
Stereo visioning technology is commonly integrated in applications such as movie recording, gaming, etc. The stereo vision based 3D cameras, with adjustable range, are easier to design and available at a lower price. These benefits of stereo vision technology should retain its preference among 3D camera manufacturers over other technologies. The wide adoption of this technology, has, in turn, contributed to over 60% of its global market size by value, during 2013.
Key findings of the study:
- The global market for 3D cameras is progressive in nature and should go on to witness a rise in its adoption across smart phones, tablets and other such devices, during the forecast period of 2014 - 2020
- The adoption of 3D cameras in tablets, is estimated to grow rapidly at a CAGR of 60.4%, during the forecast period
- Asia-Pacific would prove to be one of the most lucrative markets, in terms of growth. It should reach $3,403.0 million by the year 2020, registering a CAGR of 44.1% during 2014 - 2020
- The Asia-Pacific regional market should surpass the North American regional market in terms of market size by value, within two years.
Rising demand for 3D scanning technology in the entertainment and media industry, supplement the developments and growth of its market. A rise in the technological advancements in smartphone cameras, empowers the manufacturers to introduce 3D cameras as an innovative product offering. Furthermore, due to rising 3D content, several OEMs are upgrading their product offerings with 3D imaging capabilities. Innovative product launch has now become a strategic essential for manufacturers, to gain a higher market share. For instance; Sony Electronics, in the recent years, has upgraded its 'Handycam' series with 3D imaging capabilities. Prominent companies profiled in the report include Nikon, Cannon, GoPro, Kodak, Sony Electronics, Panasonic Corporation and LG Electronics.
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