The global smartphone 3D camera market is estimated to grow with a CAGR of 32.17% by revenue during the year 2020-2028. The market is anticipated to grow to a revenue of about $9307.33 million by 2028.  The base year considered for the study is 2019, while the estimated period is between 2020 and 2028.

The global smartphone 3D camera market growth is propelled by the following factors:

• Rising demand for high-quality images
• Increasing smartphone penetration
• Growth in the social media industry

The main driver of market growth is the increased demand for high quality images. Rapid technological advancement has improved the visual application and given rise to high resolution images. The growth in the trend of posting images and videos has led to an increase in the popularity of smartphones 3D camera. Smartphone 3D camera is attracting the youth due to its attractive features such as HD clarity, real sensing of the object, and improved performance. Moreover, the introduction of a 3D camera that can sense movements in smartphones offers enhanced picture quality and videos to end-users. Smartphone 3D cameras are more suitable options that can produce high quality pictures and videos.

In 2019, the 8-16 MP resolution captured the largest market share of 57.93%. It is also anticipated to grow the highest CAGR of 32.70% during the forecast period. Cameras have become the most pivotal entity for smartphone manufacturers. The rising adoption of smartphones, along with changing customer preference towards higher resolution and clear pictures among the consumers, have promoted the adoption of an 8-16 megapixel smartphone 3D camera. Customer preference towards the selection of smartphones is mostly influenced by the camera selection, which, in turn, drives the market for 8-16 MP resolutions smartphone 3D camera. However, the high costs associated with the cameras above 16MP and inferior performance of cameras equipped with below 8MP sensor make the 8-16 MP range the most preferred option for the smartphone manufacturers.

The market growth is restrained by factors such as high cost of products & compatibility issues. The high cost of 3D camera products is the major restraining factor for the global smartphone 3D camera market. The expensive 3D plug-in device for normal smartphones to convert into a 3D camera is hindering the market growth. For instance, Bevel 3D camera for any smartphones may cost around $80-$100. It is a small plug-in gadget that works with smartphones for creating 3D photos. It allows the conversion of the smartphone into a 3D camera. The average cost of smartphones ranges from $100 to $500. And the 3D cameras add on devices cost about 20% of the smartphone. This shows that the cost of add-on devices is high.

The report on the global smartphone 3D camera market includes segmentation analysis on the basis of technology and resolution.

Market by Technology:

• Time of Flight
• Stereoscopy

Market by Resolution:

• Up to 8 MP
• 8-16 MP
• Above 16 MP

Geographically, the global smartphone 3D camera market has been segmented on the basis of four major regions, which includes:

• North America: The United States and Canada
• Europe: The United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and Rest of Europe
• Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia Pacific
• Rest of World: Latin America, the Middle East & Africa

In 2019, North America captured the largest market share of about 36.29%. The North America smartphone 3D camera market is illustrating notable growth driven by its substantial use for both the individual and business purposes. The United States is the leading country in the region. The US market is mainly driven by the rising demand for high-resolution images across the high-resolution product photography, which is made possible through the high-resolution 3D camera of the smartphone. The recent advancements in technology have enabled the clicking of amazingly clear photographs by using the smartphone’s advanced camera features and a tripod. Smartphone manufacturers such as Apple, Inc., Microsoft Mobile, Google, Inc., etc. in the United States are investing substantially in delivering a superior quality of 3D cameras in smartphones.

The fastest-growing region is the Asia Pacific market region, with an anticipated CAGR of 32.95% during the forecast period. The market is developing and expanding at a significant pace in the Asia Pacific. The Asia Pacific market is mainly driven by escalating disposable income, presence of private organizations that are keenly focusing on the development and innovation considering 3D camera technology. The major focus is mainly in the countries such as Taiwan, Japan, and South Korea, where many multinational organizations such as Toshiba, Sony organization, Sharp corporation, and Samsung, and the rising adoption of smartphones mainly in the countries such as India and Australia.

The major market players in the global smartphone 3D camera market include:

• Sharp Corporation
• Leica Camera AG
• Sony Corporation
• Infineon Technologies
• Toshiba Corporation
• Microsoft Corporation
• Others

Company Profiles covers the analysis of important players. These companies are using organic and inorganic strategies for growth. For instance, in January 2020, Infineon Technologies collaborated with Pmdtechnologies Ag to develop a small yet powerful 3D image sensor named new REAL3. In November 2019, Sony Corporation declared to the establishment of a research center in India. In January 2020, OmniVision developed a 48 MP image sensor named OV48C. It has a large 1.2-micron pixel size. In June 2019, Infineon Technologies AG acquired Cypress for US$23.85 per share in cash.

Key findings of the global smartphone 3D camera market are:

• North America dominates the global smartphone 3D camera market.
• Social media use is driving the requirement for better camera features in smartphones.
• Most manufacturers prefer 8-16 megapixel resolution segment.
• Consumers are demanding higher features at lower prices in smartphones.