Key Market Overview:
3D Camera Market was valued at USD 16.8 Billion in 2022 and is anticipated to grow at a CAGR of 30.2% and is expected to reach USD 148.01 Billion by 2030
A 3D camera, also known as a depth camera or depth sensor, is a type of camera that captures depth information along with the color information of a scene. The 3D camera is used to create 3D models of objects and environments, and to detect and track the movement of objects in real-time. The 3D camera market has witnessed potential growth in recent years, driven by advancements in technology including higher resolution and improved range to provide more detailed information about the structure of objects in a scene. Additionally, the growing adoption of 3D cameras in smartphones and other consumer electronic devices is driving the growth of the market.
The growing demand for 3D imaging solutions in numerous industries, including entertainment, healthcare, and automotive increases the demand for 3D cameras to provide more accurate and detailed information than traditional 2D cameras. 3D cameras are used in medical imaging applications for creating 3D models of organs, bones, and tissues. The widespread adoption of 3D cameras for surgical planning, diagnosis, and treatment, as well as for creating custom prosthetics and implants is driving the growth of the 3D camera market. For instance, in May 2022, Orbbec launched the Persee+ 3D camera that incorporates artificial intelligence (AI) capabilities to perform real-time object recognition and tracking. The camera is able to detect and track multiple objects simultaneously even in low light and is used to capture high-resolution 3D images of organs and bones.
The rising adoption of 3D cameras in the entertainment industry is the key driver for the growth of 3D cameras. 3D cameras are widely used in the entertainment industry to create immersive experiences for viewers in movies, TV shows, and video games. 3D cameras allow filmmakers and game developers to create high-quality 3D content that is viewed on 3D-enabled screens, providing a more realistic and engaging experience for viewers. Also, the development of new 3D camera technologies, such as improved depth sensing and object recognition capabilities, is driving demand for devices in the entertainment industry. For instance, in June 2020, FRAMOS launched 3D GigE cameras based on Intel’s RealSense technology. The cameras are designed to provide high-quality 3D imaging with a range of advanced features for the entertainment industry by enabling real-time tracking of moving objects.
The cost of manufacturing 3D cameras is more than traditional 2D cameras which is hampering the market growth. Additionally, 3D cameras require more complex hardware and software that adds up to the overall camera cost. Further, restraints in current technology such as secondary reflections make difficult to capture accurate depth information that further results in hindering the growth of 3D cameras.
The increasing demand for autonomous vehicles is anticipated to create potential future opportunities for 3D cameras. 3D cameras are expected to detect and track objects on the road and provide information to collision avoidance systems in autonomous vehicles. Therefore, by accurately detecting and tracking objects in real-time, 3D cameras are projected to improve the safety and reliability of autonomous vehicles.
3D Camera Market Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||148.01|
|By Technology||Stereo Vision, Time of Flight, and Structured Light|
|By Type||Target Camera and Target-free Camera|
|By End-User||Healthcare, Media & Entertainment, Automotive, Consumer Electronics, and Others|
|By Geography||North America, Europe, Asia Pacific, Latin America, the Middle East and Africa|
|Key Players||Canon Inc., Matterport, Inc., Nikon Corporation, Ricoh Company, Ltd., Hitachi Astemo, Ltd., Trimble Inc., Xiaomi Corporation, ASUSTek Computer Inc., Magna International Inc., Intel Corporation
The technology segment is categorized into stereo vision, time of flight, and structured light. Stereo vision technology dominates the market as the technology is based on human vision and creates 3D images that are realistic and natural-looking. Additionally, stereo vision technology is relatively simple and easy to implement as stereo vision requires only two cameras and a computer algorithm to create a 3D image. Furthermore, stereo vision technology exhibits an adjustable range and is suitable for applications including 3D movies and photography, range imaging, and stereo views. For instance, in October 2022, Hitachi Astemo developed a prototype 360-degree stereo vision system. The new system detects and tracks the movements of people and objects in all directions and is ideal for use in autonomous vehicles, drones, and other applications.
Time of flight technology is expected to register the fastest compound annual growth rate (CAGR) in the 3D camera market due to the advancements in ToF technology including improvements in range, resolution, and frame rates. Also, ToF cameras are increasingly being integrated into smartphones that are driving the growth of the ToF market. Smartphone manufacturers are using ToF technology to enhance the camera capabilities of the devices, including improved portrait mode and augmented reality (AR) features. For instance, in May 2022, Xiaomi announced that the company is planning to launch the Xiaomi 12 Ultra smartphone with a 3D time-of-flight (ToF) camera and a Surge C2 image signal processor (ISP). The 3D ToF camera is expected to enhance the smartphone’s imaging capabilities, providing accurate depth sensing and improved portrait mode features.
The type segment is bifurcated into target camera and target-free camera. The target camera dominates the market as target cameras are highly accurate and are ideal for applications that require precise measurements. Target cameras are used in a wide range of applications, including industrial metrology, robotics, and 3D scanning, and in harsh environments, such as high temperatures or low-light conditions. For instance, in February 2021, Trimble launched Trimble SX12 Scanning Total Station, a solution that combines the capabilities of a total station and a 3D laser camera, suitable for a wide range of surveying and scanning applications. The Trimble SX12 features high-resolution to capture detailed images for documentation and mapping purposes.
The target-free camera is projected to witness the fastest CAGR as target-free cameras encompass techniques such as structured light, time-of-flight, or stereo vision to capture depth information without the need for targets. The widespread adoption of target-free cameras due to the ease of use, speed, and versatility is driving the market growth. Additionally, the growing demand for 3D imaging technology in a wide range of industries, including healthcare and entertainment to provide a fast and efficient way to capture 3D data is fueling the market growth.
The end-user is classified into healthcare, media & entertainment, automotive, consumer electronics, and others. The consumer electronics sector dominates the market as 3D cameras are largely used in smartphones and laptops to provide an enhanced picture and video quality by sensing the movements. Properties of 3D cameras such as high performance, HD clarity, and real-time sensing is gaining traction among young consumers and is also driving the growth of the market. 3D cameras are used for virtual conferencing applications, allowing users to participate in video calls and meetings in three dimensions to enhance the experience of virtual events and meetings. For instance, in February 2022, Huawei patented a smartphone that uses 3D cameras to create a 3D scan of the face . Further, the smartphone will evaluate skin health from a portrait shot or a selfie taken with the rear-facing cameras.
The automotive industry is anticipated to witness the fastest CAGR as 3D cameras are used in driver assistance systems, allowing vehicles to detect obstacles and other vehicles in real time. Additionally, 3D cameras are used for autonomous driving applications that enable vehicles to navigate roads and traffic without human input which in turn fuels the demand for 3D cameras. Therefore, 3D cameras are an essential part of autonomous vehicles to provide depth perception for deep pits and object recognition capabilities. For instance, in February 2021, Magna International announced the delivery of a 3D surround view with next-gen cameras and electronic control units in vehicles. 3D surround view technology provides drivers with a more comprehensive and realistic view of the surroundings that help to improve safety and reduce accidents.
Based on region, Asia-Pacific holds the largest share and dominates the 3D camera market. The growing demand for smartphones and the expansion of the entertainment sector’s demands for 3D cameras for recording high-quality video are driving the growth of the market in Asia-Pacific countries. Further, virtual reality (VR) is becoming increasingly popular in the entertainment industry, and 3D cameras are a key tool for creating VR experiences. 3D cameras capture 3D images and videos that helps to create more realistic and immersive VR experiences for users in countries like Japan, South Korea, India, and China.
North America is projected to witness the fastest CAGR due to the presence of key companies such as Intel, Microsoft, and Qualcomm that invest in research and development and bring innovative products to market. The technological advancements by companies in the 3D camera including multi-camera systems to capture images from different angles providing more accurate and detailed 3D models are propelling the market growth in North America. For instance, in January 2021, Intel launched Intel RealSense 3D camera that has the capability to perform face recognition in ATMs and kiosks providing security and surveillance applications. The cameras use Time-of-Flight (ToF) technology to accurately measure depth and distance that is essential for facial recognition.
3D Camera Market Competitive Landscape:
The 3D camera market is highly competitive, with several key players competing for market share. To remain competitive in the 3D camera market, companies are focused on developing new and innovative products, improving the performance and functionality of existing products, and expanding the market reach through strategic partnerships and acquisitions. Key companies are:-
- Canon Inc.
- Matterport, Inc.
- Nikon Corporation
- Ricoh Company, Ltd.
- Hitachi Astemo, Ltd.
- Trimble Inc.
- Xiaomi Corporation
- ASUSTek Computer Inc.
- Magna International Inc.
- Intel Corporation
- In August 2022, Matterport launched the new Pro3 camera and cloud platform that is set to reinvent the concept of the digital twin. The Pro3 camera is a revolutionary new device that captures high-quality 3D images of real-world spaces, allowing users to create accurate digital twins that are used for a wide range of applications.
- In January 2022, Ricoh launched the RICOH THETA X 360-degree camera capable of shooting 360-degree still images and videos in a single shot. The 3D camera is equipped with a large touchscreen display and offers high-resolution quality images with greater usability.
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