Persistence Market Research
Global 360 Degree Camera Market: Overview
The global 360 degree camera market is anticipated to experience a strong growth rate during the forecast period 2018 – 2028, owing to high demand for VR headsets, which is driving the VR content. Rapid advancement in the technology has significantly increased the gaming experience. Some game producer have taken a step further and integrated it with VR content to provide the customer a rich experience. This is likely to increase the demand for 360 degree cameras all across the world. Apart from these, increase in penetration of smartphones is predicted to favor the market growth. Ongoing trend of connecting 360 degree camera with smartphones to easily access pictures is expected to increase the sales of the market product.
Advent of new types of photography is attracting photographers to adopt 360 degree cameras and leave a mark in the photography world. 360 degree cameras are extensively used for the security reasons. Its ability to provide a view of its complete surrounding has made the defense sector to adopt it. These are mounted on drones, helicopters, and fighter jets to identify enemies. 360 degree cameras are also used for ground robots which are used for detecting bombs and other hazards. 360 degree camera are also used for the security of residential and commercial blocks. In the residential areas, these are mounted outside of the exit doors, which allows the owner to keep an eye on any individual entering the premises. 360 degree cameras have paved its way in the healthcare as well as automotive sectors.
Since the inception of cameras, continuous implementation of technological advancements have been witnessed in products for enhancing the quality, resolution and the area of the coverage captured. The latest and the newest member added to the camera family is a 360 degree camera.
Owing to the high demand for 360 degree cameras, even before their introduction, high demand for the same was witnessed. Further advancements in technology have resulted into the incorporation of advanced features, such as 4K, live streaming, waterproof, Wi-Fi and Bluetooth connectivity, GPS, mobile connectivity, and post-crop editing features, into 360 degree cameras.
360 degree cameras have witnessed considerable traction in the past four years and, are furthermore, expected to exhibit considerable growth rate during the forecast period.
360 degree camera Market: Market Dynamics
One of the primary factors impacting the growth of 360 degree cameras is increasing awareness and demand for enhanced security and safety amongst end-users as a result of increasing crimes globally. Besides this, increasing demand and adoption of smart devices globally is also impelling the growth of the 360 degree cameras market. Besides this, the introduction of wireless 360 degree cameras has also boosted the growth of the market, in terms of revenue. Thus, a transition is being witnessed from wired 360 degree cameras to wireless 360 degree cameras, which is also one of the recent trends being witnessed in the global 360 degree camera market.
Given the various features of 360 degree cameras and increasing awareness about the same across various industry verticals, high growth opportunities for the global 30 degree camera manufacturers, in terms of value, will be presented by automotive, healthcare and industrial verticals.
However, the high cost associated with 360 degree cameras is considered to be a major factor challenging the adoption of the same across some countries. This, as a result, is expected to be the primary restraining factor for the global 360 degree camera market.
360 degree camera Market: Segmentation
The global 360 degree camera market can be segmented on the basis of connectivity type, end-use, industry vertical and region
Segmentation of 360 degree camera market by connectivity type:
On the basis of connectivity type, the 360 degree camera market can be segmented into:
Segmentation of 360 degree camera market by end-use:
On the basis of end-use, the 360 degree camera market can be segmented into:
Segmentation for 360 degree camera market by industry vertical:
On the basis of industry vertical, the 360 degree camera market can be segmented into:
360 degree camera Market: Key Players
Some of the key players operating in the 360 degree camera market are Panasonic Corporation, GoPro, Inc., Ricoh Company, detu.com, SAMSUNG, YI Technology, Eastman Kodak Company, insta360.com, Garmin Ltd., LG Electronics, 360fly, Inc. and others.
360 degree camera Market: Regional Overview
By geography, the 360 degree camera market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, Japan, SEA and others in Asia Pacific and Middle East & Africa. Among these regions, the North America is expected to dominate the global 360 degree camera market during the forecast period owing to the high presence of various 360 degree camera manufacturers and high adoption of the same across various industry verticals in the region. Asia Pacific (including Japan and China) and Europe are expected to follow North America in the global 360 degree camera market. China is, however, expected to exhibit highest growth rate during the forecast period owing to the increasing adoption of smart devices, increasing economic growth, increasing customer expenditure and transitioning spending behavior of end users in the region. Besides this, Latin America and MEA are also expected to witness considerable growth rate during the forecast period in the global 360 degree camera market.
Regional analysis for Global 360 degree camera market includes
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