3D Camera Market Innovation and Product Optimization to Boost Growth by 2030

According to a new report published by Allied Market Research, titled, "3D Camera Market by Technology, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030". The global 3D camera market size was valued at $8.89 billion in 2020, and is projected to reach $142.03 billion by 2030, growing at a CAGR of 31.9% from 2021 to 2030. North America is expected to be the leading contributor to the global 3D camera market, followed by Asia-Pacific and Europe.

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3D camera refers to an integrated computing device or product, which helps the person or the user wearing it to enhance day-to-day activities. The dawn of mobile wireless systems, smart phones has sparked a new era for 3D camera globally. Gadgets that were deemed to be just used in industrial, commercial applications are now finding its way into normal consumers' lives, enhancing their quality of life through various applications such as healthcare, sports and fitness, lifestyle, and others.

The prominent factors that drive the 3D camera market growth include increase in demand for 3D content from the entertainment industry, enhancement in 3D scanning technology, and rapid innovation and enhancement in emerging 3D technology. However, price-based constraints and lack of awareness are expected to hinder the growth of the 3D camera industry. Conversely, rise in home automation and virtual reality applications are projected to offer remunerative 3D camera market opportunities in the coming years.

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The 3D camera market analysis is segmented into technology, type, application, and region. Based on type, the target-free camera segment accounted for around three-fifths of the global 3D camera market share in 2020, and is anticipated to rule the roost by 2030. The segment is driven by the features of target-free focused 3D cameras such as its simplicity and ease of use. The target camera segment, however, would cite the fastest CAGR of 32.7% throughout the forecast period. Rise in demand for real-time surveillance systems to capture precise details and keep track of multiple objects propels the growth of the segment.

Based on technology, the stereo vision segment held around three-fifths of the global 3D camera market revenue in 2020, and is expected to lead the trail by 2030. The key factor contributing to the adoption of this system is its cost effectiveness as compared to structured light and TOF technologies. The structured light segment, on the other hand, would manifest the fastest CAGR of 33.3% from 2020 to 2030. Increase in demand for reverse engineering, metrology, and inspection applications fuels the segment growth.

The market share in Asia-Pacific is expected to grow at a faster rate as compared to other regions. Factor such as increase in adoption of 3D cameras in entertainment, gaming, electronic gadgets, and surveillance applications and technological developments in the region drive the adoption of 3D camera technology in Asia-Pacific.

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The key players profiled in the report include Canon Inc., Faro Technologies Inc., Fujifilm Holdings Corporation, GoPro Inc., Intel Corporation, LG Electronics Inc., Nikon Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., and Sony Corporation. These key players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the 3D camera market.

The global 3D camera market report also discusses the top industry players in the market. It provides detailed information on companies, operational divisions, business performance, and strategic initiatives, such as collaborations, mergers and acquisitions, partnerships, etc., to enhance their market presence and achieve growth. Moreover, the report highlights the significant progress made by the leading players. This section of the report offers a comprehensive evaluation of the competitive landscape in the market and gives insights into the level of competition prevailing within it. Furthermore, it showcases the strategies employed by the top vendors to boost sales and promote their services.

Key Benefits for Stakeholders:
➡️ This study comprises analytical depiction of the 3D camera market size along with the current trends and future estimations to depict the imminent investment pockets.
➡️ The overall 3D camera market analysis is determined to understand the profitable trends to gain a stronger foothold.
➡️ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
➡️ The current market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency
➡️ Porter's five forces analysis illustrates the potency of the buyers and suppliers in the market.
➡️ The report includes the market share of key vendors and 3D camera market trends.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.