PORTLAND, Oregon, February 2, 2016 /PRNewswire/ --
A new report published by Allied Market Research titled, "World 3D Camera Market - Opportunities and Forecasts, 2014-2021" projects that the global 3D camera market would garner revenue of $10.8 billion by 2021, registering a CAGR of 40.0% during 2016 - 2021. Professional 3D cameras would lead the market throughout the analysis period. The 3D cameras embedded in smartphones are expected to drive the 3D camera market significantly by 2021.
To know more about the report, visit the website at https://www.alliedmarketresearch.com/world-3D-Camera-market
The 3D camera market is in its nascent stage; in 2015, it contributed to about 2-3% of the overall 3D technology market. However, its contribution to global markets, would increase significantly within the forthcoming decade. The market for 3D cameras is primarily driven by the requirement to record 3D content in media & entertainment applications. Other factors, driving the market growth include enhancement of 3D scanning technology, improved user preferences, increasing adoption of home automation applications and enhancement in virtual reality products.
Stereo vision is the largest revenue-generating technology segment of 3D camera market, which accounted for nearly 60% of the total market revenue in 2015. This segment is expected to maintain its dominance throughout the analysis period owing to its cost effectiveness and simplicity in implementation as compared to other technologies. However, time of flight technology is expected to grow at the highest CAGR of 44.6%, during the forecast period.
Among the key applications, professional 3D camera was the largest contributor, which accounted for around 65% share in 2015. However, the tablet applications would exhibit the highest CAGR of over the forecast period, owing to rising adoption of tablets as portable computing solutions.
According to types of cameras, the market is bifurcated into target cameras and target-free cameras. Target-free cameras would dominate overall 3D camera market throughout the analysis period, owing to their increased adoption in applications such as smartphones and tablets.
North America was the highest revenue generating region in the global 3D camera market until 2014. However, from 2015 onwards, Asia-Pacific would lead the market. In addition, LAMEA would exhibit the fastest growth, registering a CAGR of 46.7% during the forecast period.
The leading players have adopted competitive strategies such as acquisition, product launch and agreement in an effort to consolidate their market presence. For instance, in 2015, Sony acquired Softkinetic Systems S.A, a leading company specializing in gesture recognition for real-time range imaging (3D) cameras to strengthen its expertise in time-of-flight (ToF) range image sensor technology. In 2015, GoPro acquired Kolor, a forerunner in Virtual Reality and Spherical Media Solutions, for improving resolution of images.
KEY FINDINGS OF THE STUDY
- Stereo vision is the largest revenue-generating technology segment in 3D camera market, and would continue to lead the market over the next five years
- Professional camera would maintain its dominance as the largest revenue contributor throughout the analysis period
- Asia-Pacific would prove to be one of the most lucrative markets throughout the analysis period
- Target-free cameras would constitute over 60% of the market during the analysis period, owing to their increasing adoption in applications such as smartphones, tablets and computers
Nikon Corporation, Go Pro Inc., Sony Corporation, Canon Inc., Panasonic Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd., Fujifilm Holdings Corporation, Eastman Kodak Company and Faro Technologies Inc. are some of the prominent players operating in this market. The leading market players have adopted product launch as their key strategy to enhance their product portfolio and further increase their market foothold.
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