Computational Photography Global Market Report 2024

The computational photography market size has grown exponentially in recent years. It will grow from $17.06 billion in 2023 to $21.48 billion in 2024 at a compound annual growth rate (CAGR) of 25.9%. The expansion observed in the historical period can be attributed to the rise of mobile photography, advancements in processing power, the growing demand for high-quality imaging, improvements in low-light photography capabilities, and the significant influence of social media on the field of photography.

The computational photography market size is expected to see exponential growth in the next few years. It will grow to $52.25 billion in 2028 at a compound annual growth rate (CAGR) of 24.9%. Anticipated growth in the upcoming period is expected due to advancements in computational videography, the development of real-time image editing capabilities, expanded adoption in professional photography settings, improved features for night mode photography, and a heightened focus on privacy in computational photography. Key trends projected for this period encompass AI-based image enhancement techniques, the popularity of portrait mode and bokeh effects, advancements in smart HDR and dynamic range optimization, the integration of multi-lens and multi-sensor systems, the rise of super-resolution imaging, and collaborative efforts with augmented reality (AR) and virtual reality (VR) technologies.

The anticipated expansion of the smartphone market is poised to be a driving force behind the growth of the computational photography market in the upcoming forecast period. Computational photography is experiencing an upsurge, largely attributed to the rapid advancements observed in smartphone cameras, particularly their enhanced photo-taking capabilities utilizing 3D technology sensors for superior quality imagery. According to the India Brand Equity Foundation blog (IBEF), a governmental export promotion agency in India, the National Electronics Policy (NEP) forecasts a significant increase in the domestic smartphones market, projected to reach $80 billion by 2025-26 from $25.1 billion in 2018-19. Consequently, the burgeoning smartphone market is expected to serve as a catalyst propelling the growth trajectory of the computational photography market.

The burgeoning popularity of social media platforms is anticipated to be a driving force behind the expansion of the computational photography market in the forecasted period. These platforms, which enable individuals to register, create accounts, and share user-generated content, are increasingly leveraging computational photography to enhance imaging and reduce noise, thereby significantly improving the quality of smartphone photos. This enhancement makes images appear more vibrant and detailed, even in low-light conditions. For instance, as per cybercrew.uk, a UK-based project website, 77.9% of the UK population, totaling 53 million people, were active social media users as of March 2023. This reflects a 4.4% increase from 2020 to 2021, surpassing the global average social media penetration rate of 45% with a remarkable 66% in the UK. Consequently, the growing prominence of social media platforms is expected to be a catalyst for the growth of the computational photography market.

Major companies are increasingly adopting a strategic partnership approach to advance their solutions and improve offerings. Strategic partnerships involve companies utilizing each other's strengths and resources for mutual benefits and success. For example, in September 2023, Sony Semiconductor-LYTIA, a Japanese company specializing in semiconductors, laser diodes, and imaging sensors, joined forces with OPPO, a Chinese consumer electronics company. The collaboration is centered around the belief that N3 holds great potential for enhancing computational photography. By combining advanced hardware and software expertise, the goal is to deliver outstanding image quality, particularly in low-light scenarios, and establish new benchmarks for smartphone photography.

Leading companies in the computational photography market are actively engaged in the development of innovative technologies, particularly multi-camera systems, to maintain their competitive edge. These systems play a pivotal role in advancing the computational photography landscape by offering a range of imaging tools, facilitating sophisticated computational techniques, and fostering innovation in high-quality photography features. For example, in January 2023, Huddly AS, a US-based technology company, introduced a groundbreaking multi-camera system integrated with an AI director. Known as Huddly Crew, this system serves as a bridge between hybrid workplaces and intelligent, interconnected activities. The kit comprises three Huddly L1 cameras that collectively function as a unified camera crew. The AI director analyzes an array of visual and audio data captured by these cameras in real-time, intelligently selecting the best shots to showcase at any given moment. This innovation signifies a significant stride in enhancing visual experiences through computational photography technologies.

In August 2021, the US-based tech-centric beauty brand IL MAKIAGE completed the acquisition of Voyage81 for an undisclosed sum. This strategic move aimed to bolster the company's AI capabilities, fostering advancements in technology to enhance its product offerings for customers. Voyage81, an Israel-based AI computational imaging company, was brought into the fold to contribute expertise and further augment IL MAKIAGE's capabilities in leveraging artificial intelligence for innovative beauty solutions.

Major companies operating in the computational photography market report are 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.

North America was the largest region in the computational photography market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the computational photography market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the computational photography market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Computational photography encompasses various types such as single- and dual-lens cameras, along with advanced setups such as 16-lens cameras and other variants. Single-lens cameras use prism systems and mirrors, enabling photographers to preview the captured image directly through the lens. Dual-lens cameras utilize two sensors for enhanced picture quality and additional creative possibilities. This technology is integrated into camera modules and software across smartphones, standalone cameras, and machine vision devices. Its applications span 3D imaging, augmented reality, virtual reality, mixed reality, digital imaging, and various other uses.

The computational photography market research report is one of a series of new reports that provides computational photography market statistics, including computational photography industry global market size, regional shares, competitors with a computational photography market share, detailed computational photography market segments, market trends and opportunities, and any further data you may need to thrive in the computational photography industry. This computational photography market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The computational photography market includes revenues earned by entities by in-camera computation of digital panoramas, high-dynamic-range images, and light field cameras. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.