Portland, June 25, 2019 (GLOBE NEWSWIRE) -- 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 provides an in-depth analysis of top investment pockets, top-winning strategies, drivers & opportunities, market size & estimations, competitive landscape, key segments, and wavering market trends. As per the report, the global smartphone 3D camera market was estimated at $560.5 million in 2017 and is expected to hit $9.28 billion by 2025, growing at a CAGR of 42.3% during 2018-2025.
Growing adoption of smartphones and high-end technological advancements have fueled the growth of the global smartphone 3D camera market. On the other hand, high price and certain compatibility issues hamper the growth to some extent. However, a number of features are being incorporated quite frequently and this has created multiple opportunities in the market.
The stereoscopic camera segment to rule the roost-
The stereoscopic camera segment garnered the major share in 2017, contributing to three-fifths of the total market. Its faster response time for capturing 3D images has spurred the growth of the segment. Simultaneously, the time-of-flight (TOF) segment is projected to garner the fastest CAGR of 43.8% during the study period. This is attributed to its high scalability and ability to capture accurate, real-time 3D images with perfect clarity and sensitivity.
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The above 16MP resolution segment to remain lucrative till 2025-
Based on the resolution, the above 16MP resolution segment is projected to grow at the fastest CAGR of 46.4% during the study period. The fact that 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 has driven the market growth. The 8-16MP segment, on the other hand, held the largest share in 2017, accounting for three-fifth of the total market revenue.
Asia-Pacific to maintain its lion’s share-
Based on geography, Asia-Pacific contributed to two-fifths of the total market share in 2018 and is expected to dominate during the forecast period. High adoption of 3D camera smartphones and rapid advancements in technologies that are aimed at improving customer experience in the region have spurred the growth. Furthermore, the region is projected to grow at the fastest CAGR of 43.5% through 2018-2025. This is attributed to the growing adoption of 3D camera smartphones for purposes such as entertainment, gaming, and augmented reality.
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Frontrunners in the industry-
The report offers a detailed analysis of the leading market players including Leica AG, Soft Kinetic Systems S.A., PMD Technologies, Toshiba Group, Sony Inc., Infineon Technologies AG, Samsung Electronics Limited, Sharp Corporation, Microsoft Corporation, and Pelican Imaging. These players have adhered to various strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to retain their strong foothold in the market.
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