Drivers, restraints, and opportunities-
Increased application of professional 3D cameras in the media & entertainment industry to record 3D content drives the growth of the global professional 3D camera market. On the other hand, higher prices as compared to their 2D counterparts impede the growth to some extent. However, emergence of virtual reality products is expected to create lucrative opportunities in the industry.
Allied Market Research published a report, titled, “Professional 3D Camera Market By Type (Target Camera and Free Camera), Technology (Time of Flight, Stereo Vision, and Structured Light), and Application (Photography and Recording): Global Opportunity Analysis and Industry Forecast, 2020–2030” According to the report, the global professional 3D camera industry was estimated at $4.62 billion in 2020, and is anticipated to hit $73.53 billion by 2030, registering a CAGR of 31.7% from 2021 to 2030.
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Covid-19 scenario-
- Dearth of skilled professionals to operate the technology gave way to decreased demand for professional 3D cameras, which impacted the global market negatively, especially during the initial period. Also, shutdown of the majority of manufacturing units affected the market even more.
- However, the market is anticipated to revive soon.
The target camera segment to maintain the lion’s share-
On the basis of type, the target camera segment accounted for the highest market share in 2020, generating nearly three-fifths of the global professional 3D camera market. The same segment is also anticipated to cite the fastest CAGR of 33.1% from 2021 to 2030. This is because several market players have started working on improving their product line of target cameras owing to the key benefits of this technology.
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The stereo vision segment to lead the trail-
On the basis of technology, the stereo vision segment generated the highest share in 2020, holding more than three-fifths of the global professional 3D camera market. Due to its lower cost, it has proven to be highly effective in generating the 3D prints of objects. Furthermore, the technology is also efficacious in recording dual images for 3D movies. This is due to the fact that the time of flight technology is useful in a number of industry verticals. The time of flight segment, however, is expected to cite the fastest CAGR of 34.3% from 2021 to 2030. In automobile applications, the technology is useful for autonomous driving with increased safety through real-time alerts on respective driving conditions. In industrial applications, on the other hand, time-of-flight sensors act as active human machine interfaces to ensure safety in automated processes.
North America to dominate by 2030-
On the basis of region, North America contributed to the major market share in terms of revenue 2020, holding nearly two-fifths of the global professional 3D camera market. Usage of 3D cameras across multiple industries in activity monitoring, recording 3D movies, and photography & gaming purposes drives the market growth. Asia-Pacific, on the other hand, is projected to cite the fastest CAGR of 35.3% from 2021 to 2030. This is because the presence of numerous leading companies in countries such as Japan, Malaysia, and Taiwan are offering huge variety of professional 3D cameras in the Asian market.
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Prominent market players-
- Matterport
- Lytro Inc.
- Fujifilms
- GoPro Inc.
- Nikon Corporation
- Panasonic Corporation
- Canon Inc.
- Sony Corporation
- Faro Technologies
- Eastman Kodak Company
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