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2015-2020 Professional 3D Camera Market to See CAGR of 34.6%
October 13, 2015 | PRNewswireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "World Professional 3D Camera - Market Opportunities and Forecasts, 2014 - 2020"report to their offering.
The global professional 3D camera market is expected to reach $4,091.1 million by 2020, registering a CAGR of 34.6% during 2015-2020.
By 2020, 3D cameras would gain mainstream adoption across the globe. Products featuring 3D technology would gain more than 30% of the digital technology market by 2020. Stereoscopy would remain as most advantageous technology for manufacturing of cost-efficient professional 3D cameras. This technology has been implemented in most of the 3D camera products, accounting to over 3/5th of the market size by value.Entertainment and media industry is fuelling the adoption of professional 3D cameras for movies, documentaries and game recording. Stereoscopy is acting as a most cost-efficient technology for most of the aforementioned applications.
Moreover, most of the compact cameras use stereoscopy for 3D imaging. Rising adoption of compact cameras among individual consumers would further bolster the adoption of stereoscopy technology. Products designed for photography drive the market significantly. Presently, about 70% of the market revenue is garnered by photography products. Technological advancements is enabling better video recording capabilities with 3D camera products. As a result, 3D recording cameras are witnessing stronger growth in the market which should persist throughout the forecast period.
Asia-Pacific region would show high growth opportunities during the forecast period. The region would witness many manufacturers of 3D imaging products. Demand for 3D movies is being observed from Asian countries, especially in China and South Korea. About a quarter of global 3D screens are located in China, highlighting the potential of 3D content business in the region.
The emerging scenario of 3D content business in Asia-Pacific would drive the adoption of professional 3D cameras for content generation. As a result, professional 3D camera business in Asia-Pacific would grow rapidly registering a second highest CAGR, accounting for nearly 22% share in the global market size by 2020. LAMEA region would witness the highest growth during the forecast period owing to its small market size in the current scenario and speedy adoption of the technology for personalized photography and recording of events, movies and other entertainment shows; especially in South Africa and Brazil.
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