The Computational Photography Market was valued
at USD 2.47 billion in 2017 and is expected to reach USD 11.47 billion by 2023,
at a CAGR of 29.14% during the forecast period. The Photography technology has
moved beyond the use of superior hardware, such as complementary
metal-oxide-semiconductor (CMOS) image sensor and large optical lenses.
Computational photography uses both superior hardware and combination of
software-defined imaging technique for superior image quality. Computational
photography is comparatively new technology, with a lucrative growth potential
owing to the growing demand for innovation in the markets for the standalone
camera and smartphone camera applications across the globe.
The growing trend of
sharing images and videos using advanced media sharing technologies is a major
aspect of social networking on a global basis within the smartphone and
multimedia tablet ecosystem. Also, the enhancement in the image resolution of
sensors along with the technological advancements in camera modules components
and design is driving the computational photography market. The growing market
for superior vision technology in the computer vision industry is expected to
lay new growth opportunity for computational cameras during the forecast
period.
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The computational
photography market is in its nascent stage, with only a few multinational blue-chip companies actively participating in
development and manufacturing of products. Recently, several new start-ups have
emerged in the computational photography market. Product development and launch
have been the most prominent strategy adopted
by the key industry players to grow in the market. Moreover, partnerships,
mergers, and accusations are other major growth strategies adopted by the
companies in the market to enhance their
product portfolio. Some of the key players that have adopted these strategies
are Apple (US), Google (US), Light Labs (US), and NVIDIA (US).
Over the past few
years, the computational photography technology has made its way in smartphones,
with Apple (US) and Google (US) leading the way. Apple (US) held the first
position in the computational photography market in 2016, owing to its high R&D
investments, robust product portfolio, and wide geographic presence. The
company offers iPhone 7 plus, iPhone 8, and iPhone X with computational
photography capabilities. Moreover, in 2016, the company acquired LinX, an
Israel-based manufacturer of camera modules, to advance in the computational
photography product portfolio.
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Google (US) is also
one of the prominent vendors in the computational
photography market. Google Brain is the in-house domain of the company, which
develops various artificial intelligence (AI) technologies such as
machine-learning algorithms and techniques, natural language processing, music
and art generation, and robotics. Google (US) offers Pixel in its smartphones
product portfolio. In October 2017, Google (US) released Pixel 2 and Pixel 2 XL,
focusing on the computational photography feature. Pixel 2 and Pixel 2 XL have
“Google Lens” (visual analysis) feature. The acquisition of Digisfera
(Portugal) in October 2015 has helped the company to enhance its computational photography
portfolio.
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