Portland, OR -- (SBWIRE) -- 06/28/2018 -- According to a recent report published by Allied Market Research, titled, Global 3D Camera Market by Technology, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2024 the global 3D camera market was valued at $1,219 million in 2017, and is projected to reach $11,131 million by 2024, growing at a CAGR of 37.1% from 2017 to 2024.

At present, Asia-Pacific dominates the market, followed by North America. In 2017, China dominated the Asia-Pacific market and Germany led the overall market in Europe. However, in North America, the U.S. currently dominates the market.

Increasing demand of 3D content from entertainment industry and enhancement in 3D scanning technology, are fostering the market growth. Key camera developers are developing innovative cameras, enhanced by emerging 3D technology. High price and lack of awareness impedes the market.

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The market is segmented based on technology, type, application, and region. The technology segment includes time-of-flight, stereo vision, and structured light. The type segment includes target camera and target-free camera. The target-free camera is expected to witness increased adoption in the near future, owing to growth in demand in applications, such as smartphones, tablets, and computers. The camera manufacturers extensively use stereo vision technology owing to simplicity in implementation as compared to other technologies. The application segment consists of professional camera, smartphone, tablet, computer, and others. To gain diverse insights across the world, the market is analyzed as across North America, Europe, Asia-Pacific, and LAMEA.

Increase in demand of 3D content from entertainment industry and enhancement in 3D scanning technology impact the growth of the market. In addition, high price, lack of awareness, increase in home automation, and virtual reality applications also affect the growth of the global 3D camera market. These factors are anticipated to either drive or hamper the market growth.

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The entertainment & media industry is moving toward a high definition format of content delivery. The rapid rise in HD content movies, documentaries, and games is an indicator of the previous statement. The market ecosystem is developing owing to entries of various market leaders in the production of 3D movies, 3D displays, and other applications. Due to high income levels of the population in the developing countries especially in Asia-Pacific, there is a change in the preferences of audiences. Hence, growth of 3D content in media & entertainment field is anticipated to drive the adoption of 3D cameras.

Key Findings of the 3D camera Market:

-Based on type, the target-free camera is anticipated to dominate the global 3D camera market, in terms of revenue
-The stereo vision technology dominated the global 3D camera market in year 2017.
-Asia-Pacific held the majority of market share in 2017.
-LAMEA is anticipated to exhibit the highest CAGR during the forecast period.