Global 360-Degree Camera Market To Grow At A CAGR rate of 25% During The Forecast Period.

The global 360-degree camera market touched a revenue growth of USD 800 million in 2021 and is projected to grow to around USD 2,998 million at a CAGR rate of 25 percent during the forecast period. A 360 camera, commonly called an omnidirectional camera, has a 360-degree angle of vision, which allows it to catch almost everything in its path. When huge visual areas must be covered, such as when photographing panoramas, 360 cameras are required. 360 cameras are becoming increasingly popular as virtual (VR) and augmented reality (AR) become more prevalent in video games and other types of interactive entertainment. VR feature films that need 360 cameras are now being researched, and 360 cameras have also been used in still photography and robotics.

A 360-degree camera allows users to record every detail of an event for future viewing. The customers may simply acquire their 360-degree cameras to capture a full picture of the surroundings since these cameras are now accessible at reasonable costs. The incorporation of these cameras with portable devices, as well as the rising desire to watch real-time 4K and HDR material, are driving demand for global 360-degree camera market. The main social media platforms, such as YouTube and Facebook, enable 360-degree camera material, encouraging people to make and share 360-degree videos on these platforms. Moreover, in the automobile industry, 360-degree cameras are quickly gaining prominence. Drivers would benefit from the usage of 360-degree cameras in automobiles because they would have a greater understanding of their surroundings, guidance during driving, obstacle awareness, and greater automotive safety. The 360-degree cameras take pictures from all angles and present them on the car's LCD screen. 360-degree dash cameras are also becoming more popular since they may give strong proof in the event of a collision or accident, which is expected to offer better growth opportunities to the market. COVID-19 pandemic has had an influence on the entire market and the rate of growth in 2019-2020. Supply chain disruptions and a temporary shutdown of manufacturing facilities primarily affected the growth of the market.

The global 360-degree camera market in this research analysis is divided into connectivity, resolution, component, type, vertical, and region. The connectivity is classified as wired and wireless. The resolution is divided into high-definition and ultra-high-definition. The component consists of hardware, sensors, processor, battery, a memory device, and others. The type is divided into personal and professional. Finally, the verticals consist of media & entertainment, travel & tourism, military & defense, automotive, healthcare, commercial, and others.

North America holds the major share of the global 360-degree camera market, this is mainly due to high investments in safety measurements. Public and private organizations are more aware of the threats and invest heavily in security devices which are strongly supporting market growth. Along with that increasing use of advanced security cameras in residential areas is equally contributing to the growth of the market. With the presence of key market players, strong domestic demand, and a well-established supply chain, the US contributes marginally to the regional market. Because of the presence of major camera manufacturers in the significant consumer electronics industry, Asia Pacific has the most profitable 360-degree camera market. Increased sales in the healthcare, construction, and automotive industries are also having a significant impact on the 3D camera industry. The market in Asia Pacific will be driven by increased smartphone manufacturing in the area, as well as increasing demand from the industrial sector.

The global 360-degree camera market is highly fragmented with some of the prominent players including Samsung Electronics, YL Technology, LG Electronics, Ricoh, Kodak, PANONO, GoPro, Insta360, Digital Domain Production, 360fly, Immervision, Nikon, Rylo, Bubl, Xiaomi, Sony Corporation, Panasonic, Nokia Corporation, Ricoh Company Ltd, and Mistika VR.

Recent Development:

• In July 2020, Insta360 and Mistika VR joined together to bring flexibility and control over the functioning of the Insta360 Pro camera as a part of their post-production flow.
• In June 2021, GoPro released the overcapture feature for fusion 360-degree camera for Apple devices.

Browse the full “360 Degree Camera Market By Connectivity (Wired And Wireless), By Resolution (High-Definition And Ultra High-Definition), By Component (Hardware, Sensors, Processor, Battery, Memory Device, And Others), By Type (Personal And Professional), By Vertical (Media & Entertainment, Military & Defense, Travel & Tourism, Automotive, Commercial, Healthcare, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/360-degree-camera-market

Global 360 degree camera market segmentation follows,

By Connectivity

• Wired
• Wireless

By Resolution

• High-Definition
• Ultra High-Definition

By Component

• Hardware
• Sensors
• Processor
• Battery
• Memory Device
• Others

By Type

• Personal
• Professional

By Vertical

• Media & Entertainment
• Military & Defense
• Travel & Tourism
• Automotive
• Commercial
• Healthcare
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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