3D Camera Market to be worth over USD 25 billion by 2032, Says Global Market Insights inc.
3D Camera Market Industry size is expected to register 21.5% CAGR between 2023 and 2032 propelled by the rising interest in drone photography.
Selbyville, Delaware , Sept. 11, 2023 (GLOBE NEWSWIRE) — 3D camera market size is projected to cross USD 25 billion by 2032, as per a recent study by Global Market Insights Inc.
The technological advancements and an expanding array of applications across various industry segments is fueling the demand for 3D cameras. With the proliferation of augmented reality (AR) and virtual reality (VR) technologies, the high-quality 3D imaging solutions are gaining traction. The immersive experiences offered by AR and VR applications require precise and realistic 3D imaging. These technologies are rapidly being adopted across multiple industries, including gaming, entertainment, automotive, and education. Moreover, the advanced driver-assistance systems (ADAS) and autonomous vehicles are gaining significant popularity in recent times. 3D cameras play a crucial role in enabling depth perception and object recognition in these systems, enhancing safety and convenience. The integration of 3D cameras into vehicles for enhanced driving experience will shape the industry dynamics in the coming years.
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R&D investments for structured light technology to favor adoption
The 3D camera market share from structured light technology segment is slated to grow modestly over 2023-2032, owing to its ability to capture high precision images. This technology utilizes projected light patterns to capture detailed depth information, making it ideal for applications such as 3D scanning and facial recognition. Moreover, the structured light technology is being adopted in the gaming industry, where it enables highly accurate motion tracking for immersive gaming experiences. With inflowing investments in R&D for structured light technology, there are more affordable and compact solutions, adding to the industry share.
3D camera usage in healthcare for enhanced patient care
The 3D camera market value from healthcare segment is estimated to expand significantly through 2032, on account of product usability in diagnostics, surgery, and patient care. The ability to capture three-dimensional images of patients’ anatomy is revolutionizing medical imaging. Surgeons are increasingly relying on 3D cameras for minimally invasive procedures, enabling precision and reducing patient recovery times. The dental and orthodontic fields have also embraced 3D cameras for capturing detailed scans of teeth and jaws. This technology streamlines the design and production of dental implants and orthodontic devices, leading to more efficient and personalized patient care.
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Acceptance of advanced technology to boost Europe market growth
Europe 3D camera market is touted to generative lucrative growth opportunities during 2023 to 2032. The region’s strong emphasis on research and innovation, coupled with the presence of leading technology companies, has fueled the adoption of 3D camera technology across various applications. European manufacturers are at the forefront of developing cutting-edge 3D camera solutions. Moreover, being an automotive manufacturing hub, the automakers in the region are actively incorporating 3D cameras into advanced driver-assistance systems. These factors, along with increasing utilization of 3D cameras in medical sector for imaging and patient care will further bolster the product demand and add to the industry revenue.
Coming to the competitive landscape, Canon Inc., Fujifilm Holdings Corporation, Giraffe360, Insta360, Intel Corporation, Matterport, Inc., Nikon Corporation, Leica Geosystems AG, Orbbec 3D Technology International, GoPro, Inc., Panasonic Corporation, GeoSLAM, Ricoh Co., Ltd., and FARO Technologies, Inc., and Sony Corporation are some key contenders in 3D camera market. These companies are constantly spending funds to develop novel products with advanced features to meet evolving consumer demands.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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