The global smartphone 3D camera market is anticipated to record a CAGR of 32.17% during the forecast period, 2020-2028. The prominent drivers of market growth include, growing demand for high quality images, growing social media industry, and the rising penetration of smartphones.
A 3D camera is an imaging device that is capable of providing depth perception in images similar to that of experience in human binocular vision. 3D cameras are essential components when it comes to capturing a high quality 3D visual of an object. As a result, 3D cameras find extensive applications in scene recording in terms of movies and games, home automation management, industrial activity monitoring, etc. There is a growing demand for 3D content in the entertainment industry.
The increasing demand for high quality images is one of the key drivers of the global 3D smartphone market growth. The technological advancements have led to changes in visual application and high resolution images. The trending practice of posting images and videos has increased the popularity of smartphone 3D cameras. The flourishing virtual reality applications are set to provide lucrative market growth opportunities for the market players. However, the high costs involved is a restraining factor for market growth. The continuous technological advancements, and the investment for the development of new products by the market players, are estimated to result in a highly competitive environment in the global market.
The global smartphone 3D camera market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America market region dominated the market in terms of market revenue share in 2019. The trend is set to be uniform throughout the forecast period. The main factor influencing the market growth is the large-scale use of smartphone 3D cameras for business and personal purposes.
Some of the eminent market players registering their presence through key strategies in the market include, Sony Corporation, PMD Technologies GmbH, Sharp Corporation, Faro, Microsoft Corporation, etc.
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- Market Segmentation cater to a thorough assessment of key segments with their market estimations
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