The global 360-degree camera market size was worth US$ 604 Million in 2019. A 360-degree camera, also known as an omnidirectional camera, is a small, portable device that enables the users to capture a visual field of the entire sphere or 360-degree field view in the horizontal plane. It is usually equipped with dual fisheye lenses, with at least a 180-degree field of view, that are placed on either side of the camera’s body. Similar to the digital single-lens reflex (DSLR), action and mirrorless cameras, the wireless 360-degree camera can easily connect to smartphones via the Wi-Fi or Bluetooth, which makes editing, transferring, post-processing and sharing on social media easier and faster. It is also used to create panoramic images or videos in real-time, without the need for stitching or further processing the images, thereby providing high-quality results. In recent years, these cameras have gained immense popularity as they are used for monitoring and detecting suspicious activities in a large area, tracking the movement of people, improving area management and conducting indoor and outdoor surveillance. Looking forward, IMARC Group expects the market value to reach US$ 1,832 Million by 2025, expanding at a CAGR of 20.60% during the forecast period (2020-2025).
With the rising preference for virtual and augmented reality (AR/VR) in video games and other forms of interactive entertainment across the globe, the utilization of 360-degree cameras is rapidly increasing. The growing popularity of immersive ads for showcasing a product, store or property is also stimulating the market growth. These ads help organizations in creating a unique brand image, particularly on social media platforms, such as Instagram, YouTube and Facebook. Furthermore, 360-degree cameras are widely preferred by extreme sports enthusiasts and vloggers, who favor these devices on account of their durability and ability to capture a wider frame. The demand for advanced photography solutions represents another major growth-inducing factor, as 360-degree cameras are extremely effective for producing high-resolution images, even in low-light conditions, thereby being ideal for professional use. Consequently, they find application in aerial photography and cinematography, wherein they are integrated with uncrewed aerial vehicles (UAVs) to capture high-angle shots from an elevated perspective.
360-degree cameras are employed in robotics to solve simultaneous localization and mapping, as well as for visual odometry, to provide better optical flow, and feature matching and selection. Apart from this, the increased use of these cameras in various automobiles benefits the drivers with a better understanding of the vehicle’s surroundings. They also offer assistance while driving, create obstruction awareness and ensure overall automobile safety. Besides this, the growing incidences of security breaches and an increase in the number of theft and burglary cases in public and commercial spaces and residential complexes are further driving the product sales. Along with this, the defense sector is employing these cameras for surveillance and monitoring purposes.
Several tech companies are launching different models of 360-degree cameras with varying prices, ergonomics, size and appearances. These products are integrated with face recognition, higher frame rates, night vision and advanced image-stabilization features, and enable users to live stream 4K videos to major platforms through smartphone connectivity. The leading players are also offering products with high-quality image sensors and expandable memory to increase their profitability and attract a wider consumer-base. Some of the other factors such as easy availability of affordable product variants, the advent of rental services and smartphone and solar power integration are also contributing to the growth of the global 360-degree camera industry.
IMARC Group provides an analysis of the key trends in each sub-segment of the global 360-degree camera market report, along with forecasts for growth at the global, regional and country levels from 2020-2025. Our report has categorized the market based on the region, connectivity type, resolution, camera type, vertical, application, and distribution channel.
Breakup by Resolution:
Breakup by Distribution Channel:
Breakup by Connectivity Type:
Based on the connectivity type, wireless cameras account for the majority of the overall market share, on account of the increased convenience offered by these devices.
Breakup by Camera Type:
On the basis of the camera type, single cameras are the most popular segment as their ability to capture wide-angle 360-degree high-quality images delivers outstanding efficiency and increases the overall security and situational awareness.
Breakup by Vertical:
Based on the vertical, 360-degree cameras are mostly used by consumers for professional or advanced photography as the high dynamic range of these cameras provides detailed and attractive color images, even in the case of themes with extreme differences in brightness, making them ideal for professional use.
Breakup by Application:
Aerial scenery currently represents the largest application segment, dominating the market.
Region-wise, North America exhibits a clear dominance in the market due to the growing demand from the interactive entertainment sector. 360-degree cameras are used for creating VR games and feature films that offer an enhanced and interactive user experience, which is bolstering their sales across the region.
The competitive landscape of the market has been analyzed with the presence of small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are 360fly, Inc., Bubl Technology Inc., GoPro Inc., Insta360 (Arashi Vision Inc.), Eastman Kodak Company, LG Electronics Inc., Nikon Corporation, Nokia Corporation, Professional360 GmbH (Panono), Ricoh Company Ltd., Rylo, Inc., Samsung Electronics Co. Ltd., Sony Corporation and Xiaomi Group.
Key Questions Answered in This Report:
According to the estimates by IMARC Group, the global 360-degree camera market will exhibit robust growth during the next five years.
The increasing preferences of virtual and augmented reality (AR/VR) in video games and other forms of interactive entertainment that utilize 360-degree camera, represent one of the key trends in the global 360-degree camera market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shutdown of numerous manufacturing units and disrupted supply chain of 360-degree cameras, thereby hampering overall market growth.
The global 360-degree camera market was worth around US$ 604 Million in 2019.
The growing popularity of 360-degree camera for monitoring and detecting suspicious activities in a large area, tracking the movement of people, improving area management and conducting indoor and outdoor surveillance is currently driving the market growth.
On the basis of the connectivity type, the market has been bifurcated into wired and wireless cameras. Amongst these, wireless cameras hold the majority of the total market share.
On the basis of the camera type, the market has been categorized into single and professional. Single camera type currently accounts for the majority of the total market share.
On the basis of the vertical, the market has been segregated into media and entertainment, consumer, military and defense, travel and tourism, automotive, commercial, healthcare, and others. Amongst these, the consumer vertical currently accounts for the largest market share.
On the basis of the application, the market has been divided into traffic-monitoring, grid layout, aerial scenery, and others. At present, aerial scenery application exhibits a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
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