3D Camera Sales Set to Surge in Asia-Pacific in Coming Years
The surging usage of 3D cameras in the media and entertainment industry is causing a sharp surge in their sales across the world. Besides being used extensively in the media and entertainment industry, 3D cameras are also heavily used in the manufacturing and construction industries. The ballooning demand for these cameras is driving the progress of the global 3D camera market. According to P&S Intelligence, a market research company based in India, the market will grow substantially in the future.
There are mainly two types of 3D cameras used across the world— target and free cameras. Between these, the utilization of the free cameras was found to be higher in the past years. This was because of the large-scale usage of these cameras in various electronic devices such as computers, tablets, and smartphones. According to various estimates, the valuation of the free camera industry will be over $13 billion by 2022.
Structured light imaging, stereo vision, and time of flight are the most commonly used technologies in 3D cameras. Out of these technologies, the popularity of the stereo vision technology was observed to be the highest in the world during the last few years. This was because of the large-scale adoption of this technology by various camera manufacturing companies, on account of their easier integration in 3D cameras than other technologies.
The major application areas of 3D cameras are smartphones, computers, tablets, professional cameras, and others. The ‘others’ group includes home automation systems, notebooks, and mobile robots. Out of these, the usage of 3D cameras was found to be the highest in professional cameras during the last few years. This was because of the high incorporation of 3D cameras in various professional cameras, primarily in the Asia-Pacific (APAC) and North American regions.
Globally, the 3D camera market is growing rapidly in Europe, North America, Latin America, Middle East, and Africa (LAMEA), and Asia-Pacific (APAC). Out of these, the industry recorded the highest growth in the North American region in the past years. Furthermore, the sales of 3D cameras are predicted to surge sharply in the Asia-Pacific region in the forthcoming years. As per many reports, the industry will generate more than $8,000.0 million revenue by 2022.
Some of the major companies manufacturing 3D cameras around the world are Go Pro Inc., Nikon Corporation, Canon Inc., Sony Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Eastman Kodak Company, LG Electronics Inc., Faro Technologies Inc., and Fujifilm Holdings Corporation. Apart from these companies, the industry is witnessing the emergence of many new firms that are focusing on developing 3D cameras that can be used in home automation and virtual reality (VR) projects and applications.
Therefore, it can be inferred from the above paragraphs that the sales of 3D cameras will rise enormously all over the world in the future years, mainly because of their growing usage in the media and entertainment, manufacturing, and construction industries and their rising popularity among younger consumers in various countries around the world.
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