PORTLAND, Oregon, January 15, 2019 /PRNewswire/ --
Rise in adoption of smartphones, technological advancements in the smartphone industry, and myriad applications of smartphone 3D cameras are expected to propel the growth of the smartphone 3D camera market
Allied Market Research published a report, titled, "Smartphone 3D Camera Market by Technology (Stereoscopic Camera and Time-of-Flight (TOF)), and Resolution (Below 8 MP, 8-16 MP, and Above 16 MP): Global Opportunity Analysis and Industry Forecast, 2018-2025". The report offers detailed analyses of the driving forces & opportunities, major market segments, top investment pockets, key player positioning, and competitive landscape. According to the report, the global smartphone 3D camera market was pegged at $560.5 million in 2017 and is projected to reach $9,280.1 million by 2025, growing at a CAGR of 42.3% during 2018-2025.
Increase in penetration of smartphones across all strata of the society coupled with rapid technological advancements to introduce new features and utilities in smartphones drive the growth of the global smartphone 3D camera market. However, incompatibility issues of 3D camera with different types of smartphones and high cost of hardware and software hamper the market growth. On the contrary, myriad features and applications of smartphone 3D camera are expected to create lucrative opportunities for the market players in the near future.
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Stereoscopic camera segment to retain largest share through 2025
The stereoscopic camera segment dominated the market in terms of revenue in 2017, contributing about three-fifths share of global market revenue, owing to its faster response time for capturing 3D images. However, the time-of-flight (TOF) segment is expected to manifest the fastest CAGR of 43.8% during the forecast period, owing to its high scalability and ability to capture accurate, real-time 3D images with high clarity and sensitivity.
Smartphone 3D cameras with 16MP and above resolution to manifest fastest growth through 2025
The above 16MP resolution segment is expected to register the fastest CAGR of 46.4% during the forecast period, as several market players like LG have been conducting R&D activities for introducing 3D cameras with more than 16MP so as to obtain high clarity photos alongside offering other advanced features such as dust-proofing, waterproofing, and shock proofing features in their product offerings. However, the 8-16MP segment held the largest share in 2017, contributing about three-fifths of total market revenue and is expected to continue its dominance throughout the study period. The report also analyzes the below 8MP smartphone 3D camera segment.
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Asia-Pacific region to create remunerative opportunities through 2025
Asia-Pacific accounted for about two-fifths share of the total market and is projected to retain its dominance throughout the forecast period, owing to high adoption of 3D camera smartphones and rapid advancements in technologies that are aimed at improving customer experience in the region. Moreover, the region is projected to grow at the fastest CAGR of 43.5% during the forecast period due to the growing adoption of 3D camera smartphones for various purposes such as entertainment, gaming, and augmented reality. The other regions analyzed in the report include North America, Europe, and Latin America, Middle East and Africa (LAMEA).
Torchbearers of the market
The key market players analyzed in the report include Sharp Corporation, Sony Inc., Toshiba Group, Soft Kinetic Systems S.A., Pelican Imaging, Leica AG, Infineon Technologies AG, Microsoft Corporation, PMD Technologies, and Samsung Electronics Limited.
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