Plenoptic Camera Market Analysis
The global plenoptic camera market will touch USD 2.743573326 billion at an 18.40% CAGR by 2032 as per the recent Market Research Future report.
Drivers
Increasing Adoption in Healthcare Sector to Boost Market Growth
The increasing adoption of plenoptic cameras in the healthcare sector will bolster market growth over the forecast period. This is for the rise in need for high-resolution cameras which provide visual clarity in clinics and hospitals during medical procedures. Besides, these cameras are also used in wound assessment and management because they offer surgeons the bird’s eye view when it comes to a patient’s wound hence making it simpler in assessing them visually. These cameras furthermore are utilized by surgeons at the time of minimally invasive surgeries because these provide an immersive experience thus boosting patient satisfaction levels.
Opportunities
Need for High Focus Photos to offer Robust Opportunities
The need for high focus photos will offer robust opportunities for the plenoptic camera market over the forecast period for the booming tourism sector coupled with the growing global popularity of adventure sports. Thus the use of plenoptic and re-focusable cameras for capturing top-notch quality photos is increasing.
Restraints and Challenges
High Initial Cost to act as Market Restraint
The high initial cost of plenoptic cameras coupled with the proliferation of mobile gadgets and smartphones having advanced imaging features may act as market restraints over the forecast period.
Key Players
Eminent industry players profiled in the global plenoptic camera market report include
- Lytro Inc (US),
- Pelican Imaging Corp. (US),
- Apple Inc. (US),
- Rebellion Photonics Inc. (US),
- Panasonic Corporation (Japan),
- Raytrix GmbH (Germany),
- Canon Inc (Japan),
- Sony Corporation (Japan),
- OTOY Inc. (US),
- Samsung Electronics Co. Ltd. (South Korea).
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Market Segmentation
The global plenoptic camera market is bifurcated based on product and application.
By product, standard plenoptic camera will lead the market over the forecast period as these cameras are versatile as well as can be utilized in several applications like computational imaging, augmented reality, and 3D.
By application, consumers will domineer the market over the forecast period as these cameras are widely used in consumer applications like computational photography, augmented reality, and 3D imaging.
COVID-19 Analysis
The rise in the use of broadband services and burgeoning need for video streaming cloud services at the time of the epidemic possessed a positive effect on the worldwide plenoptic camera market. Though a handful of plenoptic camera manufacturers had temporary delay in production during the first stage, the market has recouped the losses soon.
Regional Analysis
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North America to Head Plenoptic Camera Market
North America will head the market over the forecast period for the rising use of light field cameras and the population’s increasing disposable income level. Besides, other factors favoring market growth in the region include the presence of many key companies, increasing use of such cameras in healthcare, defense, and media, and increasing investments via companies in technological advances and research development.
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