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.