Asia-Pacific Professional 3D Camera Market Outlook - 2030
The Asia-Pacific professional 3D camera market size was valued at $1.00 billion in 2020, and is projected to reach $21.06 billion by 2030, growing at a CAGR of 35.3% from 2021 to 2030.
3D camera captures three-dimensional images and renders an enhanced visual quality. These cameras are advantageous while capturing a high quality 3D visual of any object. Pro 3D cameras include compact cameras, studio cameras, camcorders, and EFP (Electronic Field Production) or ENG (Electronic News Gathering) cameras. They are used for commercial as well as non-commercial purposes. They are either available as standalone cameras or are embedded on imaging systems. Professional 3D cameras find numerous applications including scene recording for 3D movie or games, industrial activity monitoring construction, arts, and manufacturing. The evolving 3D scanning algorithms, further contribute to the sophistication of professional 3D camera-based products such as insta360 pro 2 footage.
Increase in application of professional 3D cameras in media & entertainment to record 3D content is the major factor that drives the Asia-Pacific professional 3D camera market growth. Other factors that drive the market include rise in adoption of professional 3D cameras in industries such as manufacturing, construction, civil infrastructure, and historical site maintenance. However, some restraints associated with its business attractiveness are higher prices as compared to 2D alternatives and lack of consumer awareness.
The value chain of the Asia-Pacific professional 3D camera industry includes various stakeholders such as manufacturers of components, 3D software developers, OEMs, utility solution manufacturers, and service providers. Each of these players shares a specific value at their point of operation, which in turn contributes to the competitive value of the product. The R&D activities, innovations, marketing strategies, and aesthetic concerns enhance the overall value associated with the end-deliverable by each player in the Asia-Pacific professional 3D camera market.
Segmentation
The Asia-Pacific professional 3D camera industry is segmented on the basis of type, technology, and application. The technology segment includes time of flight, stereo vision, and structured light. The stereo vision technology emerged in 2020 as the most lucrative technology for investment purpose. Professional 3D camera products based on the stereo vision technology are recognized for their comparatively lower prices. Price is the key determining factor while purchasing professional 3Dcameras.Stereo 3D cameras produce good quality images for most of the individual applications. Apart from individual applications, most of the 3D movies are recorded using stereo vision technology products. These applications influence the implementation of technology in 3D camera products.
By Type
Target Camera segment will grow at a highest CAGR of 36.6% during 2021 - 2030
Competitive Analysis
The key players profiled in the report include Canon Inc., Matterport, Lytro Inc., Fujifilms, GoPro Inc., Eastman Kodak Company, Nikon Corporation, Panasonic Corporation, Sony Corporation, and Faro Technologies. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
By Technology
Time of Flight segment is projected as one of the most lucrative segments.
COVID-19 Impact Analysis
The COVID-19 pandemic has adversely impacted the Asia-Pacific professional 3D camera market as huge workforce of enterprises across the globe is working from home. This has led to decline in tourism, which, in turn, reduced the demand for professional 3D cameras. Although, the COVID-19 pandemic has forced field work of several major projects to pause temporarily, the market is expected to remain robust with cumulative number of shipments being marginally unaffected in the next three-year period from 2020.
New projects globally are stalled, which, in turn, have affected the demand for 3D cameras in several industries, including manufacturing, industrial, and retail. Although, market players face minimal impact on procuring raw materials, time and shipping costs are still major concerns, which hamper the market growth. Moreover, the rise in investments in development of smart cities has gained importance during the pandemic. Subsequently, the demand for professional 3D cameras is anticipated to gain momentum post-pandemic.
Key market players have focused on positioning their companies for a strong recovery when the pandemic is over. Market players have meticulously planned to strengthen their supply chain to benefit from post-pandemic opportunities. They are further focused on availing additional opportunities with expanded market usage of professional 3D camera technology, owing to price considerations, use of professional 3D camera technology, and additional display offerings using micro-lenses.
Hence, market players are anticipated to boost market growth from various opportunities generated post-pandemic. Although, COVID-19 has a major negative impact on the growth of the market, the outbreak of COVID-19 is expected to surely provide numerous opportunities for the market growth during the forecast period. The professional 3D camera market trends include a surge in digitization and the rise in applications of photography across Asia-Pacific.
By Application
Video Recording segment is projected as one of the most lucrative segments.
Top Impacting Factors
The significant impacting factors include pricing issues and technological innovations, which boost the demand for professional 3D cameras in the market. Along with these factors, the market also depends on media & entertainment industry, smart home industry, and virtual reality uptake. All the factors collectively create opportunities for market growth whilst some of them limit the Asia-Pacific professional 3D camera market trends. However, each factor is expected to have its definite impact on the market.
Rise in Demand for 3D Content from Entertainment Industry
The entertainment & media industry has moved toward a high definition format of content delivery. Rapid rise in HD content movies, documentaries, and games is an indicator of the previous statement. The market’s ecosystem is developing due to entries of various market leaders in production of 3D movies, 3D displays, and similar products. Preferences of audiences have changed due to high income levels of population, especially in the developing countries. 3D movies and games have become popular among audiences. High quality 3D imaging is essential to deliver HD quality 3D content. Hence, the rise in adoption of 3D content in media & entertainment industry is expected to drive the growth of the Asia-Pacific professional 3D camera market forecast.
Price-based Constraints
Customers are sensitive regarding price differences in 3D technology solutions and conventional 2D alternatives. 3D imaging solutions are about 20% to 30% more expensive than 2D alternatives. Hence, professional 3D cameras are preferred only by companies/customers who need highly sophisticated end deliverables. In the market, majority players are small- and medium-sized companies. Such companies need efficient products; however, due to high prices, they cannot afford 3D services. Such companies prefer 2D alternatives with a compromise on quality. This price difference hinders the market growth.
Virtual Reality Applications
Virtual reality applications need effective illusion of an environment, which is comfortably developed by 3D cameras. 3D images of the environment are advantageous while replicating the environment in virtual reality solutions. The rise in virtual reality solutions market along with rise in user awareness further catalyzes the adoption of high-end 3D cameras.
By Country
Japan would exhibit the highest CAGR of 37.6% during 2020-2030
Key Benefits For Stakeholders
- imminent investment pockets.This study comprises analytical depiction of the Asia-Pacific professional 3D camera market size, Asia-Pacific professional 3D camera market opportunity along with current trends and future estimations to depict
- The overall Asia-Pacific professional 3D camera market analysis is determined to understand profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, Asia-Pacific professional 3D camera market size, and opportunities with a detailed impact analysis.
- The Asia-Pacific professional 3D camera market outlook forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates potency of buyers and the market share of key vendors.
- The report includes market trends and the Asia-Pacific professional 3D camera market share of key vendors.
Asia-Pacific Professional 3D Camera Market Report Highlights
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Analyst Review
The Asia-Pacific professional 3D camera market defines/promises a substantial scope for growth on global horizon/purview. The market, which is in its evolving state, presently contributes less than 5% to the overall 3D technology market.
However, its contribution in Asia-Pacific is expected to increase significantly over the next ten years. While capturing background details for movies and games, 3D cameras make considerable value additions to end deliverable. Advancements in the 3D scanning technology supplement the enhancements featuring in 3D camera products. High cost of technology restricts the purchase of these products.
Numerous players have made their way into the professional 3D camera market with innovations. Samsung, for instance, one of the leading OEMs, has developed a 360° camera, which can capture 3D content with high resolution of gigapixels. Companies are embedding 3D features in product offerings with an effort to introduce novel products to boost the struggling professional 3D camera market. Apart from the entertainment, media & gaming industry, virtual reality vendors are now looking at carving out niche developments in the Asia-Pacific professional 3D camera market that is expected to directly widen the scope of their capabilities.
The Asia-Pacific Professional 3D Camera Market is estimated to grow at a CAGR of 35.3% from 2021 to 2030.
The Asia-Pacific Professional 3D Camera Market is projected to reach $21.06 billion by 2030.
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Factors such as Increased application of professional 3D cameras in the media & entertainment industry to record 3D content drives the growth of the Asia-Pacific Professional 3D Camera market
The key players profiled in the report include Canon Inc., Matterport, Lytro Inc., Fujifilms, GoPro Inc., Eastman Kodak Company, Nikon Corporation, Panasonic Corporation, Sony Corporation, and Faro Technologies, and many more.
On the basis of top growing big corporations, we select top 10 players.
The Asia-Pacific Professional 3D Camera Market is segmented on the basis of type, technology, and application.
The key growth strategies of Asia-Pacific Professional 3D Camera market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Subsegments of technology are time of flight, stereo vision, and structured light.
Target Camera segment will grow at a highest CAGR of 36.6% during 2021 - 2030.
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