DUBLIN–(BUSINESS WIRE)–The “Computational Photography Market – Forecasts from 2022 to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global computational photography market was valued at US$6.618 billion in 2020 and is expected to grow at a CAGR of 21.61% over the forecast period to reach a total market size of US$26.033 billion by 2027.
Camera settings can be automated through computational photography allowing for better point-and-shoot photography on digital cameras and particularly smartphones. The hardware is used for advanced computation to facilitate computational photography. By compressing, expanding, and mosaicking an image, this software system enhances and expands the capabilities of computational photography.
The North American machine vision market, which includes smart cameras, grew from USD1.8 billion in sales in 2010 to USD 2.07 billion in September 2019 according to AIA (Association for Advancing Automation). In addition to being driven by the need for better product inspection and quality control in manufacturing, this growth is also fuelled by an increasing need for more intelligent collaborative robots in the industry. The computational photography market is being driven by the above factors. Furthermore, mobile devices are becoming increasing capable of capturing high-quality images as computing technology advances. In the most recent development, for example, Xiaomi has shared information about the camera department of its next-generation flagship smartphone Mi 11. As a result of this announcement, Xiaomi Mi 11 will come with support for computational photography, a technique for capturing and processing images that employ digital computation instead of optical techniques.
Computation photography market is also being driven by the increasing adoption of image fusion techniques to achieve high-quality images. Recently, fusion techniques have gained popularity in various types of applications, making the need for objective, systematic, and quantitative methods to assess or evaluate the performance of these technologies urgently necessary.
Increasing use of Smartphones
Over the past decade, smartphones have witnessed improved picture-taking capabilities, with the cameras evolving exponentially in recent years. Mobile phone manufacturers are currently making announcements about integrating Artificial Intelligence (AI) and machine learning on their devices. The Qualcomm Spectra ISP technology in conjunction with computational photography capabilities can take images taken on smartphones to an entirely new level.
The market growth of computational camera modules is however held back by high maintenance and manufacturing costs. The price of mobile phones rises as smartphone vendors strive to improve image quality.
COVID-19 Impact on Computational Photography Market:
For the first half of 2020, the number of smartphones produced drastically reduced due to the COVID-19 effect. The Qualcomm Snapdragon 865 AI-enabled phone brand was announced by some smartphone manufacturers, including Sony and Samsung, who will be using its camera architecture to advance computational photography. This caused the delay in production since the state of the pandemic madeit unclear regarding the demand. The world has been experiencing a decline in demand for analog semiconductors due to the stagnation of new projects. This market has been temporarily affected by COVID-19 since the supply chain chain was affected. A positive change in the economic environment will lead to an increase in production, restoring of supply chains, and increasing demand for computational photography solutions.
- Smart Phones
- Machine Vision
- North America
- United States
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- Microsoft Corporation
- Facebook Inc.
- Apple Inc.
- Corephotonics Ltd.
- Micron Technology
- Guandong Oppo Mobile Telecommunications Corp.
- Photogram AI
For more information about this report visit https://www.researchandmarkets.com/r/4ohf6o