“Computational photography market projected to grow at 9.3% CAGR during 2019–2024”
The computational photography market was valued at USD 10.7 billion in 2019 and is expected to reach USD 29.0 billion by 2024, at a CAGR of 22.0% from 2019 to 2024. The major driving factors is the trend of sharing images and videos using advanced media sharing technologies is a major aspect of social networking on a global basis within the smartphone and multimedia tablet ecosystem. Also, the enhancement in the image resolution of sensors along with the technological advancements in camera modules, components, and design is driving the computational photography market.
“Computational photography software to grow at the highest CAGR between 2019 and 2024”
This high growth for computational photography software is attributed to the use of high-end algorithms to achieve advanced photography. Software is an integral part of computational cameras. It interfaces hardware with advanced computational capabilities. These software systems enhance and extend the capabilities of devices based on computational photography by compressing, expanding, and mosaicking the image.
“Based on type other cameras for computational photography market to grow at the highest CAGR between 2019 and 2024”
Other computational cameras include cameras with 4, 8, and more lenses. Nikon has unveiled its 4-lens camera with a patent (No. 2016-114615) filed in June 2016. Other camera manufacturers, such as Sony (Japan) and Huawei (China), are expected to enter the computational photography market by launching cameras with variable aperture sizes and adjustable zooming features based on the size of the image sensor; as a result, new designs are created for multi-aperture cameras useful in computational photography.
“Mixed reality market to offer a lucrative opportunity for computational photography applications”
Mixed reality is the result of blending the physical world with the digital world. Mixed reality is the next evolution in the interaction between humans, computers, and the environment and unlocks various possibilities that were initially limited to our imaginations. Computational photography is expected to provide enhanced user experience with the help of advanced imaging combined with virtual reality.
“Machine vision cameras to grow at the fastest rate for computational photography”
There is a great importance of high-quality images to detect defects in final products. Machine vision can use computational photography when higher quality imaging with less maintenance is desired. Computational photography eliminates the need to adjust optics and lighting to get a perfect image. It reduces the need for post-processing of images.
APAC continues to grow significantly for the computational photography market
This high growth is attributed to the increasing number of Chinese vendors such as Huawei (China), Xiaomi (China), and others. These companies are coming up with advanced AI-based cameras for cutting-edge imaging purposes with powerful chipsets and processors. The growth opportunity for the computational photography market in countries apart from China, India, South Korea, Australia, and Japan will largely depend on the pricing strategies and awareness related to the benefit of computational cameras compared with DSLR cameras.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in computational photography marketspace.
The break-up of primary participants for the report has been shown below:
- By Company Type: Tier 1 – 40%, Tier 2 – 25%, and Tier 3 – 35%
- By Designation: C-level Executives – 45%, Directors – 25%, and Others – 30%
- By Region: North America – 55%, Europe – 20%, APAC – 15%, RoW – 10
The major players in computational photography market are Apple (US), Samsung (South Korea), Nvidia (US), Qualcomm (US), Adobe (US), Nikon (Japan), Sony (Japan), LG (South Korea), Light (US), Canon (Japan).
- This research report categorizes the global computational photography based on offering, product, type, application, and geography.
- The report describes the major drivers, restraints, challenges, and opportunities pertaining to computational photography market and forecasts the same till 2024.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
- This report segments the computational photography market comprehensively and provides the closest market size projection for all subsegments across different regions.
- The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
- The report helps stakeholders to understand the value-chain of computational photography market along with recent case studies.
- This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business.
- The competitive landscape section includes product launch, acquisition, collaboration, expansion, and partnership.