According to the latest market research report "Computational
Photography Market by Application (Smartphone Camera,
Standalone Camera, Machine Vision), Type (Single- And Dual-Lens Cameras, 16-Lens
Cameras), Offering (Camera Module, Software), and Geography - Global Forecast
to 2023", the computational
photography market is expected to be worth USD 11.47 Billion by 2023 from USD
2.47 Billion by 2017, at a CAGR of 29.14% from 2017 to 2023. The market has a
huge potential across various applications, such as smartphone camera, and
point and shoot camera. The major factors driving the growth of the
computational camera market include growing adoption of computational
photography in smartphone cameras and high demand for digitals till cameras
with high resolution.
The market for the standalone
camera segment is expected to grow at a high CAGR during the forecast period.
As the overall point and shoot camera market has reached the maturity stage and
is witnessing a decline in the shipment from last 3 years, vendors operating in
the point and shoot camera industry are focusing on developing advanced camera
hardware with computational capabilities. The blue-chip point and shoot camera
manufacturers, including Nikon (Japan) and Canon (Japan), are working on the
point and shoot cameras with computational architecture, and they are expected
to commercialize their products by 2018.
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The single- and dual-lens cameras held the largest
share of the computational photography market in 2016. The growth of dual-lens
camera module for smartphones is one of the major factors driving the growth of
the market for single- and dual-lens cameras. Single- and dual-lens
computational cameras are embedded in smartphones. The camera quality has a
significant impact on the smartphone buyers. Most of the smartphones in the
market have single- and dual-lens cameras. Apple launched its iPhone 7 plus
with dual-lens cameras, which supports the computational photography technology,
in September 2016.
APAC is expected to surpass the North American computational
photography market by 2023. The presence of a large number of smartphone
manufacturers in China and Taiwan is expected to boost the growth of
computational photography market in this region. The standalone camera and
machine vision system manufacturers in Japan, Australia, India, Singapore, and
South Korea are expected to propel the growth of the computational photography
market in APAC during the forecast period.
