The computational photography market has grown exponentially, increasing from $17.06 billion in 2023 to $21.48 billion in 2024, reflecting a compound annual growth rate (CAGR) of 25.9%. This significant growth in the historical period is driven by the rise of mobile photography, advancements in processing power, demand for high-quality imaging, improvements in low-light photography, and the influence of social media. Looking ahead, the market is expected to see continued exponential growth, reaching $52.25 billion by 2028 at a CAGR of 24.9%. This growth is attributed to advancements in computational videography, real-time image editing, expanded use in professional photography, enhanced night mode features, and privacy-focused computational photography. Key trends for the forecast period include AI-based image enhancement, portrait mode and bokeh effects, smart HDR and dynamic range optimization, multi-lens and multi-sensor systems, super-resolution imaging, and collaboration with AR and VR technologies.
Major Driver In The Computational Photography Market
The growth of the smartphone market is expected to propel the growth of the computational photography market in the forecast period. Computational photography is increasing due to rapid improvements in the smartphone cameras such as photo-taking capabilities using 3D technology sensors for high quality. According to the India Brand Equity Foundation blog (IBEF), an Indian Government export promotion agency, as per the National Electronics Policy (NEP), the domestic smartphones market is estimated to reach $ 80 billion by 2025-26, from $ 25.1 billion in 2018-19. Therefore, the growth of the smartphone market will drive the growth of the computational photography market.
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Computational Photography Market Competitive Landscape
Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Huawei Technologies Co. Ltd., Sony Corporation, LG Corp., Intel Corp., Qualcomm Technologies Inc., Semiconductor Components Industries LLC, Canon Inc., NVIDIA Corporation, Adobe Inc., Nikon Corporation, BBK Electronics, Affinity Media, Xperi Corporation, Leica Camera AG, Light Labs Inc., HTC Corporation, CEVA Inc., Lytro Inc., Raytrix GmbH, Corephotonics Ltd., Algolux Inc., Coherent Labs, Almalence Inc., DXO Labs, FotoNation Inc., Pelican Imaging Corporation
Key Computational Photography Market Trend
Major companies in the computational photography industry are adopting strategic partnerships to provide innovative solutions and enhance their offerings. Strategic partnerships allow companies to leverage each other's strengths and resources for mutual benefits and success. For instance, in September 2023, Sony Semiconductor-LYTIA, a Japan-based company specializing in semiconductors and imaging sensors, partnered with OPPO, a China-based consumer electronics company. This collaboration aims to elevate computational photography by combining advanced hardware and software expertise to deliver exceptional image quality, particularly in low-light scenarios, and set new standards for smartphone photography.
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Computational Photography Market Segmentation
The computational photography market covered in this report is segmented –
1) By Type: Single And Dual Lens Camera, 16- Lens Camera, Other Types
2) By Offering: Camera Modules, Software
3) By Product: Smartphone Cameras, Standalone Cameras, Machine Vision Cameras
4) By Application: 3D Imaging, Augmented Reality Imaging, Virtual Reality Imaging, Mixed Reality Imaging, Digital Imaging, Other Applications
By Geography:The regions covered in the computational photography market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the computational photography market share in 2023.
The Computational Photography Global Market Report 2024 furnishes information about the global computational photography market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
