The global smartphone 3D camera industry was estimated at $2.54 billion in 2020, and is anticipated to hit $44.00 billion by 2030, registering a CAGR of 32.8% from 2021 to 2030, according to Allied Market Research.
Drivers, Restraints, and Opportunities
Increase in adoption of smartphones and rise in usage of 3D content across media, entertainment, and the gaming industries drive the growth of the global smartphone 3D camera market. On the other hand, high pricing of the products and the fact that integration of these cameras requires heavy configurations, such as large memory space and high-end processors to support all the 3D camera features impede the growth to some extent. However, availability of advanced features in 3D cameras and rapid technological advancements in the realm are projected to create new opportunities in the industry.
Huge disruptions in the supply chain and closure of the majority of manufacturing units across the world impacted the global smartphone 3D camera market negatively during the pandemic, especially during the initial phase.
However, the market is projected to get back on track soon.
The Time-of-Flight (TOF) segment to dominate by 2030
By technology, the Time-of-Flight (TOF) segment contributed to around three-fifths of the global smartphone 3D camera market share in 2020, and is expected to rule the roost by the end of 2030, owing to the fact that several companies are currently coming up with advanced solutions in smartphones such as smartphone 3D camera with ToF technology. The stereoscopic camera segment, however, would cite the fastest CAGR of 34.1% from 2021 to 2030, due to the fact that stereoscopic 3D cameras are useful for generating prototypes of various processes such as quality inspection and reverse engineering among others.
The 8-16MP segment held the highest share in 2020
By resolution, the 8-16 MP segment accounted for nearly three-fifths of the global smartphone 3D camera market revenue in 2020, and is anticipated to lead the trail by 2030. This is attributed to the fact that companies like Sharp Corporation have introduced a 3D camera module for smartphone, which can capture high-definition 3D images and videos. The above 16MP segment, on the other hand, would showcase the fastest CAGR of 36.3% from 2021 to 2030. This is because, with the help of intensive R&D activities, companies are able to introduce above 16MP 3D camera in smartphones and tablets.
North America to lead the trail in terms of revenue
By region, North America had the highest share in 2020, garnering around two-fifths of the global smartphone 3D camera market. High disposable income and increasing use of advanced technology drive the market growth. At the same time, the market across Asia-Pacific would manifest the fastest CAGR of 36.6% during the forecast period. This is due to high percentage of youth population across the region and growing usage of smartphones among the mass.