According to the latest report by IMARC Group, titled “360-Degree Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global 360-degree camera market reached a value of US$ 714 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 25% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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A 360-degree camera, also referred as omnidirectional camera, is a digital camera used to capture a 360-degree field of view in the form of a video or image. It provides the view of an entire sphere or a complete circle in the horizontal plane. The 360-degree camera comprises two wide-angle lenses on either side of the camera, each lens capturing 180 degrees. These lenses capture wide-angle video, stitching the footage together to create a single 360-degree image. 360-degree cameras are widely used to monitor activities, improve area management, and conduct indoor and outdoor surveillance. Consequently, it is widely adopted across numerous industries, including media, entertainment, travel, and tourism, automotive, healthcare, military, etc.
The growing adoption of virtual and augmented reality (VR/AR) systems in the interactive entertainment sector represents one of the major factors catalyzing the market growth. Moreover, growing product utilization in the defense sector for surveillance and monitoring purposes is also providing a boost to the market growth. Furthermore, a significant increase in the demand for advanced photography solutions is acting as another growth-inducing factor. Besides this, several technological advancements, such as face recognition and night vision features, and the growing opportunities in travel vlogging are projected to drive the global market for 360-degree camera in the coming years.
Global 360-Degree Camera Market Trends:
The global market is primarily driven by the growing adoption of virtual and augmented reality (VR/AR) systems in various forms of interactive entertainment. 360-degree cameras are integrated with these applications, including VR games and feature films, to offer enhanced and interactive user experience, which is bolstering their sales across the globe. Along with this, these cameras form an essential component in the safety system of various automobiles. They are used as dashboard cameras to capture the view from all angles and display it on the LCD screen of the vehicle to assist the driver in getting a better understanding of his/her surroundings. These cameras are also being increasingly utilized for advanced photography applications, such as panoramic and still photography. They are employed for delivering high contrast images in difficult lighting conditions, which makes them a preferred choice for professional use. The market is further driven by the growing incidences of security breaches and the increasing product utilization in the defense sector across the globe. In line with this, these cameras are employed in the public and residential complexes for continual surveillance and monitoring of any unwarranted intrusion or suspicious mobility. Other factors, including the growing opportunities in travel vlogging and the integration of these cameras with face recognition and night vision features, are expected to further create a positive outlook for the market.
360-Degree Camera Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the 360-degree camera market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Bubl Technology Inc.
- Gopro Inc.
- LG Electronics
- Nokia Corporation
- Ricoh Company Ltd.
- Samsung Electronics
Key Market Segmentation:
The report has segmented the 360-degree camera market on the basis of connectivity type, resolution, camera type, vertical, application, distribution channel and region.
Breakup by Connectivity Type:
Breakup by Resolution:
Breakup by Camera Type:
Breakup by Vertical:
- Media & Entertainment
- Military & Defense
- Travel & Tourism
Breakup by Application:
- Grid Layout
- Aerial Scenery
Breakup by Distribution Channel:
- Online Stores
- Single-Brand Stores
- Multi-Brand Stores
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/360-degree-camera-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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