Some of the Major Growth Strategies Followed by Key Players in the Plenoptic Camera Market
Plenoptic Camera Market – Overview
The global Plenoptic Camera Market is anticipated to touch a size of USD 2108.5 million by 2023, as per MRFR. It is touted to exhibit 18% CAGR from 2017 to 2023 (forecast period).
The intensifying social media pressure has spurred the development of high-quality cameras. Reports that reflect on the semiconductors and electronics industry have been offered by Market Research Future, which makes reports on industry verticals that judge the market expansion and potentials. An income level worth USD 2,108.5 million is forecasted to be gained by the end of the forecast with a CAGR of 18.4%.
The requirement for high-quality images is expected to fund the development of plenoptic cameras in the upcoming period. The improvement of microlenses array designs is anticipated to bolster the market for plenoptic cameras in the impending period. The upsurge in tourism photography is anticipated to push the expansion of the plenoptic camera market in the approaching period. The prevalence of high disposable income at the end-user base is forecasted to bolster the plenoptic camera market in the approaching period.
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Key Players
The noteworthy players in the plenoptic camera market are Lytro Inc (US), Pelican Imaging Corp. (US), Rebellion Photonics Inc. (US), Apple Inc. (US), Raytrix GmbH (Germany), Sony Corporation (Japan), Panasonic Corporation (Japan), Canon Inc (Japan), OTOY Inc. (US), and Samsung Electronics Co. Ltd. (South Korea).
Industry Updates:
Feb 2019 A computational imaging firm, Light and Xiaomi, has pronounced that the two corporations will be working jointly to create novel multi-module cameras for smartphones. The two companies pledged that the jointly-developed cameras would highlight DSLR-level competences, but did not reveal when the first product from the combined project is estimated to come to completion.
Segmental Analysis
The segmental insights of the plenoptic camera market are conducted on the basis of application, product, and region. On the basis of products, the plenoptic camera market is segmented into focused plenoptic camera, standard plenoptic camera, and coded aperture camera. The application basis of segmenting the plenoptic camera market comprises of enterprises, consumers, and industrial. Based on the regions, the plenoptic camera market is segmented into Asia-Pacific, North America, Europe, and other global regions.
Detailed Regional Analysis
The regional study of the plenoptic camera market covers regions such as Asia-Pacific, North America, Europe, and other global regions. Among the regions encompassed, the Asia Pacific region controls market domination due to the incidence of chief companies in the market space. Apart from these factors, the demand for elevated resolution level, high-focus cameras are growing in terms of their which is additionally producing the necessity of plenoptic cameras. Though, these cameras are not very prevalent in terms of their use in the consumer sector; it has a good presence in the industrial and enterprise verticals. Conversely, the North American region has a subsequent position in the plenoptic camera market in terms of revenue creation. This development is due to the elevated disposable income, and augmented adoption of light field cameras in various industries.
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Competitive Analysis
The availability of better resources and improved accessibility to said resources is expected to create a potential for development in the coming years. The competition in the market is anticipated to ramp up in the near future as the user base becomes proliferated with quality products. The development momentum of the market is expected to witness a prolific leap in the approaching years. However, the push of favorable policies laid down by government bodies and trade institutions is anticipated to create an encouraging development rate. Also, increased availability of funds from investment goliaths and venture capitalists is expected to promote a favorable growth scenario in the market in the approaching period. The improvement of production resources is expected to further reflect positively on the overall growth scenario of the market. The development of alternate resources is projected to enhance the overall product offering in the coming years.
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