360 Degree Camera Market Research Report - Global Forecast till 2027

360 Degree Camera Market Research Report: By Component (Hardware (Sensors, Processor, Battery, Memory Device, Others), Software), By Connectivity Type (Wired, Wireless), By Resolution (High Definition, Ultra-High Definition), By Camera Type (Personal, Professional), By Vertical (Media & Entertainment, Military & Defense, Travel & Tourism, Automotive, Commercial, Healthcare, Others), Region (North America, Europe, Asia-Pacific, Rest of the World) - Forecast till 2027

ID: MRFR/SEM/2456-CR | November 2020 | Region: Global | 152 pages         

360-Degree Camera Market

360-Degree Camera Market valued at USD 778.5 Million in 2020 and is expected to reach USD 2,993.6 Million by 2026 with a CAGR of 25.17% during the forecast period, 2020–2026.

Segmentation

By Component Hardware Software
By Connectivity Type Wired Wireless
By Resolution High Definition Ultra-High Definition
By Camera Type Personal Professional
By Vertical Media & Entertainment Military & Defense Travel & Tourism Automotive Commercial Healthcare

Key Players

  • Samsung Electronics (South Korea)
  • YI Technology (US)
  • LG Electronics (South Korea)
  • Ricoh (Japan)
  • Kodak (US)
  • PANONO (Professional 360GmbH) (Germany)
  • GoPro (US)
  • Insta360 (China)
  • Digital Domain Productions (US)
  • 360fly (US)
  • Immervision (Canada)
  • Nikon (Japan)
  • Rylo (US)
  • Bubl (Canada)
  • Xiaomi (China)

Drivers

  • The continuous advancements in the consumer electronics.
  • New technologies are being used in a new wave of marketing.
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360 Degree Camera Market Overview:


The 360-Degree Camera Market was estimated at USD 778.5 Million in 2020 and is expected to reach USD 2,993.6 Million by 2026 with a CAGR of 25.17% during the gauge time frame 2020-2026.


The 360-degree cameras can be perceived as omnidirectional camera frameworks with the assistance of which the client can examine every course and record the view whenever required.


Assuming the client wishes to record the recordings, it should either be possible with a solitary shopper camera or with the assistance of an apparatus that accompanies various camera focal points incorporated into the camera gadget. The recordings caught are joined into a solitary and round video that should be possible with the assistance of a camera or any video altering programming.


The 360-degree cameras are accessible as a solitary and independent camera that accompanies various focal points that assist in catching and naturally sewing up the substance caught as a piece of the gadget. The greatest benefit of utilizing these cameras is that they simply utilize and fall OK for the spending plan compared to different cameras. The camera rigs are home to other cameras that are answerable for independently recording the substance, and subsequently, they are heavier and costly in contrast with single or independent cameras. Sewing content will require progressed programming.


COVID 19 Analysis


The pandemic has introduced new kinds of trends and struggles in the life of the common man. From mask being a priority to the work-from-home trends, the population across the globe is struggling to cope up with the changing trends. However, they are taking their health more seriously. Due to the decline in physical events and trade shows, the demand for cameras has also declined. These cameras have a common application in social events, parties, and other gatherings. With virtual shows and orientations being the new trend as accelerated by the pandemic, the use of these cameras has declined.


The key market players are coming up with new ideas and investing in the research and development of products on a large scale. The aim is to introduce these products globally by adding features and functions that suit the need of a larger audience during the forecast period that ends in 2026. 


360-Degree Camera Market Dynamics


Drivers


The digital cameras are being produced by the key market players on a large scale and the value of the produced goods stood at 121 million units. Owing to the diverse demands of the target audience, the players are adding vibrant functions and features. With a huge variety of revolving cameras to choose from within a budget, the target audience is motivated and is buying cameras to pursue this as a hobby or passion. These cameras help in allowing the user to capture the whole event bit by bit at an affordable price. Also, there is a growing preference amongst people to view videos in real-time 4K and HDR content as well. This is likely to boost the demand for these cameras with the capability to share HDR videos on social media channels and platforms also.


Restraints


The availability of a stable and large network bandwidth for excellent use of the cameras and streaming the curated videos is one of the major concerns that restraints the growth of the 360-degree camera market. The bandwidth requirement is at least 4-5 times larger as the aim behind this camera is to help the users for an excellent experience and deliver an immersive idea of use. The minimum resolution required to stream the videos curated with the help of these cameras stands at 4K. Superior quality also means that there is an increase in the file size. To grow as per the anticipated figures, the 360-Degree Camera Market needs to dissolve these issues for the target audience by the end of the forecast period that ends in 2026.


360-Degree Camera Market Technology Analysis


These cameras are expecting to witness a major momentum across many industry vertices and especially the automotive sector. The use of these cameras in vehicles will have many benefits to the drivers by helping them gain a better understanding of the vehicles in the surroundings and will also assist them while driving by updating them about the obstructions on the way if any. These cameras can capture vehicles from various angles and display the same on the LCD on the cars. Also, these are likely to undergo a lot of popularity as they provide strong evidence if there is any happening related to an accident or collision.


360-Degree Camera Market Segmentation


Owing to the momentum and trends, the investors are considering the opportunity to invest in the companies that are involved in the production and designing of such cameras on a global scale. The 360-Degree Camera Market report helps the investors by giving market insights and also discussing the revenue potential of the 360-Degree Camera Market segments that are functional across various regions in the globe. Also, the revenue collected by these segments will help and make a positive difference to the final market valuation by the end of the forecast period in 2026. The 360-Degree Camera Market has been segmented based on the following:


Based on connectivity type


For the convenience of the user and stagger a larger demand amongst the target audience, these cameras are available both in the wired 360, alongside the wireless 360-degree product type.


Based on the end-use of the product


The end-use of these cameras is based on the purpose of investing in these cameras by the target audience. These can be used both for personal and commercial use.


360-Degree Camera Market Regional Analysis


Based on the wide applicability and spread of the target audience in various regions across the globe, the 360-degree camera market is functional in 4 major geographies of the world. These are North America, the APAC region, the European countries alongside the rest of the world (RoW). During the forecast period that ends in 2026, the North American region consisting majorly of the US and Canadian market is expected to hold the largest share of 360-Degree Camera Market and enjoy dominance over the other competing markets and regions. One of the major reasons behind this growth is the customer inclination towards products that are backed by technological advancements.


Competitive Landscape


The prominent market players in 360-Degree Camera Market are as follows:



  • Samsung Electronics (South Korea)

  • YI Technology (US)

  • LG Electronics (South Korea)

  • Ricoh (Japan)

  • Kodak (US)

  • PANONO (Professional 360GmbH) (Germany)

  • GoPro (US)

  • Insta360 (China)

  • Digital Domain Productions (US)

  • 360fly (US)

  • Immervision (Canada)

  • Nikon (Japan)

  • Rylo (US)

  • Bubl (Canada)

  • Xiaomi (China)


Recent Developments



  • Insta360 and Mistika VR - a Spain Company, went into an association to lay out adaptability and command over the working of the Insta360 Pro camera among its clients as a piece of their after creation stream. This will probably upgrade the accessibility of programming arrangements on the lookout.

  • GoPro, as of late, delivered the Mobile OverCapture highlight for one of the items, the Fusion 360-degree camera for Apple gadgets. This component will empower the clients to reshoot recordings according to a few points of view. This is accessible as an update in the GoPro application.

  • Rylo declared the accessibility of its scaled-down 360-degree camera. The item has been sent off with a similar name. The thought behind this camera is to give a superb client experience to the new clients. The principle point is to have a solid presence and hold the computer games portion under the organization's name.

  • 360 Round is another camera that Samsung has sent off. This camera helps in the turn of events and gushing of top-notch 3D substance, particularly for the subject matter experts and devotees who request a new encounter having a place with augmented reality (VR)


Intended Audience



  • Healthcare professionals

  • Potential investors

  • Media and entertainment units

  • Military and defense sector

  • Research firms

  • Camera manufacturers

  • Hospitality sector

  • Residential sector and common public


Report Overview


The 360-Degree Camera Market report discusses the market dynamics based on the viewpoints presented by the industry leaders and players. The 360-Degree Camera Market report helps to give the market insights and help the investors make better decisions by discussing the functioning of the segments in various global regions. Also, the report discusses the role of the key market players by undertaking the recent developments during the forecast period.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 2,993.6 Million
  CAGR   25.17%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, Connectivity Type, Camera Type, Vertical
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Samsung (South Korea), Ricoh Company, Ltd (Japan), YI Technology(China), GoPro, Inc. (US), Insta360.com (China), 360fly (US), LG Electronics Inc. (South Korea), Nikon Corporation (Japan), The Eastman Kodak Company (US), Rylo, Inc. (US), Bubl Technology Inc. (Canada), Immervision (France), Shenzhen Hatoa Technology Co., Ltd (China), Digital Domain Holdings Limited (US), and Xiaomi Corporation (China)
  Key Market Opportunities   High demand for these cameras across verticals such as healthcare, industrial, automotive, and consumer electronics
  Key Market Drivers

  • The continuous advancements in the consumer electronics.
  • New technologies are being used in a new wave of marketing.


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    Frequently Asked Questions (FAQ) :

    global 360-degree camera market is expected to thrive at 28% CAGR and touch a valuation of USD 2,130 million by 2025 as the expansion of the 360-degree camera market is supported by the advent of augmented and virtual reality.

    Samsung (South Korea), GoPro, Inc. (US), Ricoh Company, Ltd (Japan), Insta360.com (China), and 360fly (US) are some reputed players of the 360-degree camera market.

    The entertainment industry is the highest end-user of 360-degree cameras, followed by travel and tourism, and automotive sectors.

    The advent of new augmented reality technology and growing application in the automobile sector are observed as chief propellers of the 360-degree camera market.

    The North America 360-degree camera market is expected to register high share of the global market due to the growing adoption of 360-degree camera in the fast-growing virtual gaming industry.