The global market for Smartphone 3D Cameras is forecast to exceed US$7.5 billion by 2024, driven by the phenomenal growth of smartphone photography, expanding smartphone user base, and robust advancements in smartphone camera technology.
Smartphone 3D camera represents an advanced imaging device intended to add depth to pictures for reproducing three dimensions as observed through the human binocular vision. 3D photography creates frozen-in-time, engaging moments for video content or stills that appears almost real. The camera emerged as the one of the differentiating feature for smartphone vendors over the years. As 3D vision and other depth sensors become mainstream technologies, the specialized 3D camera technology will soon find renewed focus by the smartphone ecosystem.
Presently, with lower cost Head-up displays (HUDs) making a foray into the market, addition of stereoscopic photography to smartphones is expected to take off in a big way in order to complete the virtuous loop of camera content creation and camera content consumption. The inherent advantages offered by 3D technologies compared to 2D technologies in terms of reduced production design time, better accuracy levels, and reduced error margins, represent the primary factor driving widespread adoption of smartphone 3D cameras. Growing consumer emphasis on high quality videos and images, and demand for reliable and easy 3D modeling of real objects is encouraging the integration of 3D cameras in smartphones.
Future growth in the market will be driven by the phenomenal growth of smartphone photography supported by robust advancements in smartphone camera technology in terms of improvised sensors, super-quality lenses, image stabilization, and faster and advanced image processing, among others. Significant investments in camera phone technologies such as dual-lens cameras, 3D cameras, and 360 degrees cameras by major smartphone vendors represent another important growth driver.
Surging demand for 3D camera smartphones from the younger demography owing to features such as enhanced performance, object sensing, and HD clarity, in addition to rising trend of posting pictures and videos on social media such as Facebook, Twitter, Instagram, and Snapchat, is also expected to benefit market expansion. The rising adoption of virtual reality (VR) and 3D displays are also poised to spur growth in the market in the coming years. The capability of depth sensors for capturing huge amounts of 3D data is expected to transform smartphone camera capabilities in the coming years where users would be able to remove objects seamlessly, isolate the single objects, as well as eliminate and replace a picture's full background, translating into huge market growth opportunities.
Asia-Pacific represents the largest and the fastest growing market with an impressive CAGR of 48.9% over the analysis period. Robust proliferation of smartphones with innovative features particularly in emerging markets such as China and India; launch of affordable 3D camera-enabled smartphones by Chinese vendors; successful rollouts of 3G & 4G networks and subsequent rise in the number of consumers streaming content over their mobile handsets represent key growth drivers in the region.
Key players covered in the report include GoPro, Inc., Infineon Technologies AG, Intel Corporation, Kula 3D Ltd., LG Electronics, Inc., Matter and Form, Inc., Microsoft Corporation, pmdtechnologies GmbH, Samsung Electronics Co. Ltd., Sharp Corporation, Texas Instruments Incorporated, and Toshiba Corporation, among others.