Computational Photography Market To Reach USD 42.7 Billion By 2027 | CAGR 20.6% – Forencis Research

Global Computational Photography Market: Key Highlights

• According to the new market research report “Computational Photography Market by Component (Hardware, Software), by Devices (Smartphone, Standalone Camera, Machine Vision Camera), by Application (Augmented Reality, Virtual Reality, 3D Imaging), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America,) – Global Forecast (2019 to 2027)”, the global computational photography market is estimated to reach USD 42.7 Billion by 2027 at a CAGR of around 20.6% during the review period.
• Increasing demand for better quality pictures, shift towards constantly sharing videos and pictures on social media platform are few key factors among others driving the demand for computational photography.
• However, heating issue in the sensors remain a major limiting factor for the growth of the computational photography market.

Global Computational Photography Market: Key Market Dynamics

• Growing demand for computational photography in smartphones is expected to drive the market of computational photography as the demand for cameras which can capture good quality image is increasing rapidly.
• Sharing of images and videos on social media platforms is expected to drive the market as to capture enhanced quality image and video, cameras with computational photography feature may help.
• Mirrorless computational photography is expected to rise the market in near future as there will be no obstacle in front of the sensor while capturing the image that will result in enhanced quality of image.
• Heating issues in the sensors is expected to hamper the growth of the market as the sensors generate heat being in constant use which results in reduced life span of the device.    

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Global Computational Photography Market: Regional Overview

• Asia-Pacific

Computational Photography market is expected to show fastest growth rate in the Asia-Pacific region. Due to rapid adoption of latest technologies by the organizations, increasing number of smartphone users, increasing awareness regarding usage of various social media platforms, are few factors compelling the growth of the market in Asia-Pacific. According to Statcounter, in 2019, the usage of social media through all platforms such as desktop, mobile, tablets, was 72% in Asia-Pacific. Thus, such increasing use of social media platforms may increase the demand of computational photography in the region.

• North America

The computational photography market in North America is expected to show substantial growth in next few years. The adoption of latest technology is very rapid which may surge the demand for emerging technology such as computational photography in the region. According to a survey conducted by Pew Research Centre, 81% of Americans own smartphone, and the usage of social media, adoption of technology is increasing rapidly across all age groups in the US. Thus, such high adoption of technologies across all age groups may increase the demand of computational photography in the region.

Global Computational Photography Market: Key Players Overview

• Apple Inc.:

Apple Inc. is an American multinational organization that deals in the technological sector. The company design, produce, and sell electronics devices such as personal computers, tablets, and smartphones, among others. The product portfolio of the firm includes Mac, iPad, iPhone, HomePod, Apple Music, Apple Arcade, and iCloud, among others. In 2019, the company announced that they are incorporating Deep Fusion which is a new feature for computational photography in iOS 13.2 beta.   

• Adobe:

Adobe is the US-based global company engaged in the development of computer software.  The company caters products under the categories of creativity and design, marketing and commerce, PDF and E-signature, and business solutions. The company have specific product in computational photography domain Adobe Sensei that uses Artificial Intelligence (AI) and machine learning to give output as per the customer requirement. In 2019, the company announced that their AI based computational photography application will be incorporated in iPhone and Android-based smartphones. 

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