Plenoptic Camera Market Overview
Globally, the size of the Plenoptic Camera Market is set to grow at a CAGR of 18.4% to hit USD 2,108.5 Million by 2027 driven by the increasing demand for surveillance systems. The global plenoptic camera market is driving because of the rising high disposable income of the population across the world. Also, the rising travel industry is boosting up global market growth.
Usually, the plenoptic camera has a high cost of manufacturing, which leads to initial cost in the market as well as an expensive rate of the installation process. Moreover, it has a higher initial capital cost expense than other conventional technologies that reduce the incurring extra cost. As a result, it is projected to affect the global plenoptic camera market growth throughout the review period.
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Plenoptic Camera Market Regional Analysis
Regionally, the global plenoptic camera market has been categorized into various geographical locations such as Asia-Pacific, North America, Europe, Latin America, the Middle East, Africa, and the rest of the world.
Of these, the dominant place is held by the Asia-Pacific region during the forecast timeframe due to the rising demand for high-focus cameras and high-resolution cameras in enterprises and the industrial sector. In addition, this region is consists of various major players like Panasonic Corporation, Sony Corporation, and Canon that are likely to enhance the growth performance of the worldwide market.
Apart from this, the North American region is accounted to hold the second-largest position in generating market revenue during the review period. The major reason behind the growth of this regional market is the rising adoption of light field cameras among various industries. Also, the growing high disposable income of the demography is contributing to the global market.
Plenoptic Camera Market Segments
According to the global plenoptic camera market research report, the present market has been segmented on the basis of application and product.
The present market is classified into enterprises, industrial, and consumers based on the application segment. Of these, the industrial segment is anticipated to witness the fast growth at CAGR over the assessment period due to the rising plenoptic cameras adoption for applications like astronomy and industrial robotic vision.
On the basis of product segment, the worldwide market has been divided into the focused plenoptic camera, standard plenoptic camera, and coded aperture camera. Out of all, the standard plenoptic camera is registered to witness fast CAGR growth throughout the research period. This segment is expanding because it has the presence of a microlens array, which allows efficient and fast capture of the light field.
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Industry news
In March 2017, the prominent payer Apple Inc. to support its products’ quality manufacturing launched an advanced plenoptic camera. For instance, in September 2018, the market payer Panasonic Corporation, which also included a 35 mm full-frame image sensor, developed two models of the first digital single-lens mirrorless camera. These two models are LUMIX S1R and S1. Moreover, these models consist of the Dual I.S. image stabilization system and the 4K 60p/50p video recording function.