360 Degree Camera Marketing 2019 Global Size, Segments, Industry Growth and Recent Trends by Forecast to 2023
360 Degree Camera Market Analysis:
A 360 degree camera refers to a device that is capable of capturing pictures in a 360 degree angle. A 360 degree camera comprises two wide-angle lenses on either side, with each lens capturing 180 degrees. These lenses are capable of capturing wide-angle video, stitching the footage together for creating single 360-degree images. There are two main types of 360 degree cameras, that are designed for surviving hazardous adventures; and lifestyle cameras that are smaller, cheaper, and are often easier to use. Most of these companies have started offering rental services for professional 360 degree cameras as they are in high demand but professional cameras cost a lot.
The global 360 degree marketing is expected to upscale at a robust CAGR of 28% during the forecast period. The latest MRFR analysis that was recently published, has suggested that the global 360 degree camera market is likely to garner a market revenue valuation of USD 2,130 million by the end of the forecast period. This speedy growth can be owed to the technological advancements noted in the fields of artificial reality, virtual reality, along with 360 degree photos and videos that are being used in a new wave of marketing that seeks to provide audiences with a more immersive experience. Furthermore, rising popularity of virtual reality and augmented reality, along with 360 degree cameras for the branding and advertising is one of the biggest factors boosting the growth of the global 360 degree cameras market.
360 Degree Camera Market Key Players:
Some notable players in the global 360 degree camera market include Samsung (South Korea), Ricoh Company, Ltd (Japan), 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), and Xiaomi Corporation (China).
360 Degree Camera Market Segmentation:
The global 360 degree camera market is studied for several segments that are based on connectivity type, resolution, camera type, vertical, and region.
- Based on connectivity type, the global 360 degree camera market is segmented into wired and wireless.
- Based on resolution, the global 360 degree camera market is segmented into personal and professional.
- Based on vertical, the global 360 degree camera market is segmented into military and defense, media and entertainment, travel and tourism, automotive, healthcare, and commercial. The industries that could primarily benefit from the integration of 360 degree cameras include the real estate, automotive, defesne, tourism, and entertainment. Within the real estate sector, 360 degree cameras can aid with digitally enhancing the experience of clients of a space before transforming it. The 360 degree camera lenses capture wide-angle video and stitch the footage together for creating a single image.
360 Degree Camera Market Detailed Regional Analysis:
The global 360 degree camera market has been studied for a detailed regional analysis of the market over the forecast period. Such regional analysis of the global 360 degree camera market has been done for the regions of North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. North America held a dominant stance in the market at the beginning of the forecast period and is expected to maintain it through the forecast period.
This can be owed to the rising popularity of virtual reality and augmented reality games in the region. Furthermore, upscaling presence of AR and VR gaming companies in the region is also driving the global 360 degree camera market over the forecast period. Apart from that, upscaling adoption of these cameras in the automotive sector for safety purposes is also providing impetus to the market over the forecast period. On the other hand, Asia Pacific is expected to gain fast paced momentum in the 360 degree camera market owing to the rapid adoption of virtual reality technologies in Japan and China.