The Global 3D Camera Market is estimated to surpass $10.84 billion mark by 2026 growing at an estimated CAGR of more than 12.569% during the forecast period 2021 to 2026. Surging demand of 3D enrich content from entertainment industry and enhancement in 3D scanning technology are proliferating the demand of 3D camera in the market. Consumer electronics hold the largest market share of 41% in the end-user segment and will be a major driver for market growth due to rise in acceptance of the 3D Camera technology. Moreover, the automated operations in industries such as food and beverages, chemicals etc. started integrating 3D cameras with robotics arms which will further fuel the market for 3D cameras in future. Owing to the increased demand of the photographers, nowadays, there has been an increase in adoption of the 3D camera. Additionally, there has been a discernible increase in the demand for high-quality cameras for smartphones or professional cameras, which is creating opportunities for the manufacturers to innovate 3D Camera as a new product in the market.
3D Camera Market Segment Analysis – By Technology
TOF and Stereo cameras have dominated the 3D Camera Market as compared to the other technologies. The Time-of-flight principle is used by 3D cameras to measure the distance between the sensor and the nearest surface point. The stereo camera is a type of 3D camera that is mainly used for making stereoviews, range imaging, and 3D photos for movies. The image sensors present in stereo cameras will allow cameras to simulate human binocular vision and captures the 3D photocopies. The low cost combined with their suitability for general photography and consumer applications drives the adoption of stereo and TOF cameras.
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3D Camera Market Segment Analysis – By Application
3D cameras are one of the most promising sectors for the healthcare industry. Third dimension is playing a progressively important role in image processing application. 3D Cameras offers great scope to healthcare industry and another milestone was reached by adding 3D technology to our camera portfolio. More detailed and realistic images are offered by 3D cameras as comparison to previous models. It also allows images to be routed in different aspects such as Digital Visual Interface (DVI) and High-Definition Serial Digital Interface (HD-SDI). 3D Cameras (HD) technologies benefits converted to wireless Communication as well. Results High-resolution and Minimal latency images, without restrictive cables. These growing applications will drive the adoption of 3D Cameras in Healthcare sector.
3D Camera Market Segment Analysis – By Geography
Geographically, APAC has the most lucrative 3D camera market owing to the higher demand in the prominent consumer electronics market due to the presence of Samsung, Panasonic, Oppo, Xiaomi, and Vivo. Also, higher sales in the healthcare, construction, and automotive industries is influencing the 3D camera market by manifolds. Due to technological advancements in the region, APAC offered the maximum global market share of 37% in 2020. The rising smartphone production in the region combined with growing demand from the industrial sector will be the major drivers of the 3D Camera market in APAC region.
3D Camera Market Drivers
Rising Number of Applications in Entertainment
Due to a rapid increase in the demand for HD movies, games, and videos, it has become easier for the new entrants to enter the 3D camera market. The 3D camera market is primarily driven by enhanced visual applications in the entertainment industry. Owing to the implementation of 3D technologies in the camera, the entertainment industry is anticipated to grow worldwide. The latest camera used to shot a film in Hollywood was by Weta Digital, with DNEG, Framestore, and MPC providing spectacular future cityscapes. The success of 3D camera in filmmaking is spawning many filmmakers that are venturing into 3D films, and the future will observe an enhanced frequency of 3D films, which is creating a sustainable 3D camera marketplace.
Growing Usage in Automotive Market driven by Technological Advancement
In the automotive industry, innovation is expected to drive the adoption of 3D Camera market. ZF has developed a 3D (IOS) interior camera that can easily enhance automated and the safety systems by detecting and locating occupants in the vehicle. 3D cameras are used as range cameras in cars to detect the position of the car on the road. Using these sensors in the system’s driver is warned regarding the vehicle approaching from behind so that he can change the lane and also it detects the deviation from the lane and warns the driver by vibrating the seat. These developments will enhance the adoption of 3D Cameras in the ADAS and Safety Systems market for automotive sector. Additionally, the autonomous trucks and self-driven vehicles are gradually emerging in the automotive industry which will further catapult the demand for 3D cameras. 3D Cameras find prominent usage in autonomous vehicles for improving the drivability. Thus, they are an essential tool in furthering autonomous vehicle research and deployment. Thus, this will drive market growth of 3D Cameras.
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3D Camera Market Challenges
High Cost of 3D Cameras
The major challenge for the growth of the 3D cameras market is regarding cost issues. Despite of its uses in various industries such as logistics, automotive, and gaming, However, existing industrial 3D solutions are often too complex and expensive for many “simple” 3D applications. 3D cameras are available in the market at a highly expensive, so they are acquiring demand from a very limited section of the market. Therefore, the sales of the market are less when compared to the other camera technologies such as 2D, primarily due to the cost factor despite the improved capability. Thus, the market for 3D Cameras will be largely limited to complex applications where 3D Cameras are a necessity rather than a feature. This will hinder the market in the short run, however; with the price of 3D Cameras dropping, the market will find significant adoption in the long term.
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the 3D Camera Market. Cannon, Fujifilm, Nikon, GoPro Inc., Eastman Kodak Co, Panasonic Corporation, Sony Corporation, Faro technologies, Matterport Inc., Lytro Inc., Panasonic Corporation, and LG. are considered to be the key players of the 3D Camera Market.
HP released a new 3D Camera which was designed for 3D designers, digital fine artists, game developers and CG artists, and it works with the Sprout Pro G2, attaching to a computer display to capture and digitize 3D objects, 2D documents, and live video. HP describes the 3D camera as allowing for a more immersive and human experience through live sharing, it brings into view the desk, hands, etc. to complement the webcam and screen sharing.
In 2018, Leica Camera announced an alliance with Pmdtechnologies AG, to develop a depth-sensing camera for smartphones. With the agreement, the two companies will work together to create a 3D-sensing camera for smartphones while reducing the size of the lens. Time-of-flight cameras are also said to have enhanced capabilities in facial ID, augmented reality, and even scanning 3D objects.
Owing to the recent developments in the health care industry, 3D cameras have also penetrated into the healthcare sector. In 2018, Sony had launched 3D camera technologies in surgical imaging workflows such as 4K, 3D, and 4K3D for clear visualization.
With the launch of every new smartphone, there is an advancement of a camera in them. Recently Sony Corp. has started to boost its more detailed next-generation 3D sensors chips. This chip will power front and rear-facing camera of models from many smartphones that are going to be launched in 2020. Furthermore, Huawei Technologies Co. has employed Sony’s 3D cameras in its next-generation models.
Emergence of 360 degree selfie camera is one of the pioneering discoveries for the upcoming advanced technology league. Most 360 cameras are launched for the purpose of capturing a complete image with particularly no dimensionality. It also provides virtual reality solutions and are also capable of recording more pixels and present a video which is high in resolution.
A high-tech system including 3D cameras could help UK farmers to recognize the early warning signs of tail biting in pigs. Tail biting is a health and welfare concern in affected pigs and a notable economic concern for industry, tail bite leads to reduce weight gain, culling and carcass condemnation. This technology is capable of predicting future victims and so offers opportunities to update and include information within our selection strategies to reduce the occurrence of tail-biting in future.
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