By 2020, 3D cameras would gain mainstream adoption across the globe. Products featuring 3D technology would gain more than 30% of the digital technology market by 2020. Stereoscopy would remain as most advantageous technology for manufacturing of cost-efficient professional 3D cameras. This technology has been implemented in most of the 3D camera products, accounting to over 3/5th of the market size by value. quote
Professional 3D Camera Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $4,091.1 million by 2020, registering a CAGR of 34.6% during the period 2015 - 2020.
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Entertainment and media industry is fueling the adoption of professional 3D cameras for movies, documentaries and game recording. Stereoscopy is acting as a most cost-efficient technology for most of the aforementioned applications.
Moreover, most of the compact cameras use stereoscopy for 3D imaging.
Rising adoption of compact cameras among individual consumers would further bolster the adoption of stereoscopy technology. Products designed for photography drive the market significantly.
Presently, about 70% of the market revenue is garnered by photography products. Technological advancements is enabling better video recording capabilities with 3D camera products.
As a result, 3D recording cameras are witnessing stronger growth in the market which should persist throughout the forecast period.
Asia-Pacific region would show high growth opportunities during the forecast period. The region would witness many manufacturers of 3D imaging products.
Demand for 3D movies is being observed from Asian countries, especially in China and South Korea. About a quarter of global 3D screens are located in China, highlighting the potential of 3D content business in the region.
The emerging scenario of 3D content business in Asia-Pacific would drive the adoption of professional 3D cameras for content generation. As a result, professional 3D camera business in Asia-Pacific would grow rapidly registering a second highest CAGR, accounting for nearly 22% share in the global market size by 2020.
LAMEA region would witness the highest growth during the forecast period owing to its small market size in the current scenario and speedy adoption of the technology for personalized photography and recording of events, movies and other entertainment shows; especially in South Africa and Brazil.
Key Findings of Professional 3D Camera Market:
- The global market for professional 3D cameras is emerging rapidly and would continue to witness rise in their adoption throughout the forecast period (2015 - 2020)
- Adoption of 3D target cameras is higher in the market and would further rise to reach nearly 60% of the market size by value by 2020
- Asia-Pacific would prove to be one of the most lucrative markets, in terms of growth and is expected to grow at a CAGR of 36.8% during 2015 - 2020
- LAMEA region would witness the highest growth throughout the forecast period, eventually rising more than six times of its present market size by 2020.
Several market players are upgrading their product offerings with 3D imaging capabilities, owing to rapidly rising demand of 3D content in entertainment and media industry. The conventional digital camera market is fluctuating since past few years, owing to the rising availability of smartphones and other mobile computing devices capable of capturing HD images, affecting the sale of digital consumer cameras.
Innovative product launch has now become a key strategy of manufacturers to sustain in the market. Enabling camera products with 3D and 4K imaging technology is a strategy to move through the fluctuating digital imaging business with improved product offerings.
Prominent companies profiled in the report include Nikon, Canon, GoPro, Kodak, Sony Electronics, Nikon, Fujifilm, Panasonic Corp., Lytro and Matterport.
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