New York, Oct. 11, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Plenoptic Camera Market” published by Consegic Business Intelligence, the market was worth USD 1,378.29 Million in 2022, projected to grow by USD 1,597.92 Million in 2023, and is anticipated to reach over USD 6,111.77 Million by the year 2031, growing at a CAGR of 18.3%.
Plenoptic cameras are designed for measuring image brightness along with direction of the light rays to enable new imaging capabilities. Plenoptic cameras enable refocusing of the attained image to multiple depths and viewing the same scene from numerous perspectives. The benefits of plenoptic cameras including greater detail, higher resolution images, and others make it ideal for deployment in healthcare, media & entertainment, automotive, military & defense, and other industries.
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The increasing utilization of plenoptic camera in healthcare sector is among the key factors driving the market growth. Additionally, the increasing healthcare expenditure, development of healthcare facilities, and rising number of surgical procedures are key factors fostering the adoption of plenoptic cameras. For instance, according to the Organization for Economic Co-operation and Development, the total number of cataract surgical procedures in Canada reached 383,717 surgeries, witnessing a significant incline of 17.6% as compared to 326,411 surgeries in 2020. Therefore, the rising incidence of surgical procedures is increasing the adoption of plenoptic cameras to offer high-resolution, improved visual clarity during changing surgical scenes, thereby, driving the growth of the market.
Additionally, the rising investments in the military & defense sector is projected to promote potential opportunities for the growth of the plenoptic camera market. Plenoptic cameras are used in military & defense sector, primarily for applications including surveillance, security, patrolling, and others. However, high cost associated with plenoptic cameras is hindering the growth of the market.
Report Attributes | Report Details |
Market Size By 2031 | USD 6,111.77 Million |
Forecast Period | 2023-2031 |
CAGR (2023-2031) | 18.3% |
Base Year | 2022 |
Study Timeline | 2017-2031 |
Key Players | Raytrix GmbH, Digital Optical Imaging Technologies S.L., VOMMA(Shanghai) Technology Co., Ltd., Avegant Corp., Holografika, Ricoh |
By Type | Standard Plenoptic Camera, Focused Plenoptic Camera, and Coded Aperture Camera |
By End-User | Healthcare, Media & Entertainment, Automotive, Military & Defense, and Others |
Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Plenoptic Camera Market Growth Drivers:
- Rising utilization of plenoptic camera in healthcare sector is driving the market growth.
- Growing media & entertainment industry is spurring the market growth.
Restraints
- High cost associated with plenoptic cameras is restraining the market growth.
Opportunities
- Rising investments in military & defense sector is expected to promote potential opportunities for market growth.
Global Plenoptic Camera Market Segmentation Details:
Based on type, the standard plenoptic camera segment contributed the largest shares to the market growth in 2022. Standard plenoptic cameras are capable of providing a refocused image, depth of field, and refocused object distance by utilizing extracted multi-view images. Further, factors including higher increasing expansion of laboratories, research, and healthcare facilities are primary aspects boosting the growth of the standard plenoptic camera segment.
Based on end-user, the healthcare segment accounted for the maximum revenue share in the year 2022. Plenoptic cameras are primarily used in the healthcare sector, particularly for application in surgical procedures, scientific imaging, endoscopy, cancer research, and others Factors including the increasing healthcare expenditure, development of healthcare facilities, and rising number of surgical procedures are among the primary determinants for fostering the growth of the healthcare segment.
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Based on region, European region accounted for the largest revenue share in the year 2022. The growth of multiple industries including healthcare, media & entertainment, military & defense, and other sectors is driving the growth of plenoptic camera market in Europe. Further, rising investments in expansion of healthcare facilities are projected to boost the market growth in the European region during the forecast period.
Key Market Highlights
- Globally, plenoptic camera market is divided based on the type into standard plenoptic camera, focused plenoptic camera, and coded aperture camera.
- In the context of end-user, the market is separated into healthcare, media & entertainment, automotive, military & defense, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in plenoptic camera market.
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List of Major Global Plenoptic Camera Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Raytrix GmbH
• Digital Optical Imaging Technologies S.L.
• VOMMA (Shanghai) Technology Co. Ltd.
• Avegant Corp.
• Holografika
• Ricoh
Global Plenoptic Camera Market Segmentation:
- By Type
- Standard Plenoptic Camera
- Focused Plenoptic Camera
- Coded Aperture Camera
- By End-User
- Healthcare
- Media & Entertainment
- Automotive
- Military & Defense
- Others
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Key Questions Covered in the Plenoptic Camera Market Report
- What is plenoptic camera?
- Plenoptic cameras, also known as light field cameras, are designed for capturing information about the light field or intensity of light originating from a scene along with the precise direction in which the light rays are traveling in space.
- What is the dominating segment in the plenoptic camera market by type?
- In 2022, the standard plenoptic camera segment accounted for the highest market share of 51.03% in the overall plenoptic camera market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the plenoptic camera growth in the coming years?
- Europe accounted for the largest revenue share in the year 2022. The increasing demand for plenoptic cameras from multiple industries including healthcare, media & entertainment, and automotive industries among others is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2031?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and growth of multiple industries such as media & entertainment, military & defence, and others.
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