Portland, OR -- (SBWIRE) -- 06/15/2017 -- Smartphone 3D Camera Market report, published by Allied Market Research, forecasts that the global market is expected to garner $4.4 billion by 2022, registering a CAGR of 49.6% during the period 2015 - 2022. Stereoscopic 3D camera technology is the most preferred and cost-effective technology for Smartphone 3D camera market as compared to the time-of-flight (ToF) technology. Stereoscopic would drive the market significantly by 2022 and would maintain its dominant position in the market. Whereas, the time-of-flight 3D camera technology segment, is expected to exhibit a faster growth with a CAGR of 54.4% during the forecast period owing to its accurate sensing of the object feature.
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Smartphone 3D camera is available in three resolutions that include below 8MP, 816 MP and above 16MP. 3D cameras use sensors, camera lenses, and processors to perform all operations. High resolution cameras cost more than low resolution cameras, owing to the high cost of the components. Presently among these three categories, about 60% of the market revenue is garnered by smartphone 3D camera with 8MP16MP resolution. During the forecast period above 16 MP will be the fast growing resolution type among others and it will attain for the $448.7 million value by 2022.
Asia-Pacific has emerged as a prime region for smartphone 3D camera, exhibiting an increased demand due to rapid rise in smartphone penetration and increase in purchasing power of consumers. In addition, presence of numerous companies in countries such as Japan, Taiwan, and China offering 3D camera component is expected to boost revenue in this region.
Key Findings of Smartphone 3D Camera Market
Global smartphone 3D camera market is expected to grow rapidly owing to increased smartphone adoption, technological advancements, and availability of unique features such as picture clarity and depth sensing
In 2015, 8-16MP smartphone 3D camera had the highest share in the overall market of about 60% and is expected to generate maximum revenue in the forecast period.
This segment would dominate the market in the forecast period 20162022 and will grow at a CAGR of 49.7%.
LAMEA proves to be one of the fastest growing regions, in terms of growth. The market in the region is expected to grow at a CAGR of 55.8% from 2016 to 2022.
Many prominent players operating in the smartphone 3D camera market adopted product launch as their key strategies. Companies such as Sharp Corporation, Infineon Technologies AG, and Pelican Imaging have introduced innovative and technologically advanced products to capture more market share in smartphone 3D camera market. Prominent companies profiled in the report include Toshiba Corporation, Sony Corporation, Microsoft Corporation, SoftKinetic Systems S.A., PMD Technologies AG, and Others.