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360 Degree Camera Market Analysis by Resolution {High-Definition (HD), Ultra-High-Definition (UHD)}; by Connectivity Type (Wired, Wireless); by Camera Type (Single, Professional); by Vertical (Media & Entertainment, Consumer, Military & Defense, Travel & Tourism, Automotive, Commercial, Healthcare and Others); and by Application (Traffic-Monitoring, Grid Layout, Aerial Scenery and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • As part of the launch of the EOS VR System, Canon India Pvt Ltd. introduced a new system for producing virtual reality (VR) videos. There are two computer software applications and one dedicated lens included in the system.
  • Insta360 announced a partnership with Mistika VR, a leading stitching software solution provider, which will provide Professional Insta360 Pro users with greater flexibility and control over their post-production workflow.

Global 360 Degree Camera Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~20%

The global 360 degree camera market is estimated to garner significant revenue by the end of 2033 by growing at a CAGR of ~20% over the forecast period, i.e., 2023 – 2033. Further, the market generated modest revenue in the year 2022 backed by the rapid growth of the virtual reality sector worldwide. For instance, the virtual reality market accounted for USD 15 billion in 2020 and generated revenue of nearly USD 4 billion in the year 2021.

360-Degree-Camera-Market-Future-Growth

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A 360-degree camera is an omnidirectional camera system that captures a view from every angle at once. The 360 degree view offered by these cameras results in a better flow of images. In general, these cameras have two fisheye lenses that cover at least 180 degrees, which are attached to the opposite sides of the body. VR and augmented reality are becoming more prevalent in video games and other interactive entertainment mediums, increasing the popularity of 360 cameras. Moreover, rising cases of security breaches, increasing integration of 360-degree camera with smart phones, growing popularity of animated and 3D movies along with emergence of innovative products is expected to drive 360-degree camera market growth over the forecast period. For instance, in Januray 2022, a new 360-degree camera has been released. It is capable of shooting 360-degree video and images in one shot. An easy-to-use touch screen display and high-quality images are provided by this new model.

Global 360 Degree Camera Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Sales of Automatic Vehicles- Globally, automatic car sales increased to 65 million units in 2021, an increase of 61 million units in 2020

The popularity of 360-degree cameras in the automotive industry is rapidly growing. In addition to helping drivers better understand their environment, 360-degree cameras could aid in assistance while driving, detecting obstructions, and enhancing automotive security. Images captured by the 360-degree cameras are displayed on the LCD display of the car from all angles. The rising preference for 360 degree cameras in automobiles, coupled with the rise in sales of such vehicles, is expected to drive market growth over the forecast period.

  • Growing Sales of VR Headsets Worldwide- For instance, it is expected that nearly 14 million units of VR headsets will be shipped to customers globally in the year 2022. 
  • Significant Revenue Generation in VR Gaming Industry – It was observed that VR gaming industry generated revenue of USD 1 billion in 2020.
  • Increasing Exports of Videos Camera Recorders- According to the statistics by the International Trade Center (Trademap), the value of exports of video camera recorders in China in the year 2021 was recorded to be USD 13,220,456 thousands, which was an increase from USD 10,788,881 thousands in the previous year.
  • Growing Personal Disposable Income-Based on the Bureau of Economic Analysis' July 2022 report, personal income grew by USD 47.0 billion (0.2%), and disposable personal income (DPI) grew by USD 37.6 billion (0.2%).

Challenges

  • Lack Of Public Awareness Of 360-Degree Cameras
  • Incompatibility With Other Devices
  • Higher Price Associated With The Product 

The global 360 degree camera market is segmented and analyzed for demand and supply by vertical into media & entertainment, consumer, military & defense, travel & tourism, automotive, commercial, healthcare and others. Among these segments, the media & entertainment (M&E) segment is anticipated to capture the largest market size in the global 360 degree camera market owing to the rapid expansion of the media and entertainment industry around the globe. For instance, the media and entertainment industry in India is projected to rise between USD 50 to 70 billion by the end of year 2030. In addition, the VFX studios prefer to create virtual worlds for filming and commercializing in order to remain competitive in cutting-edge virtual worlds. This factor is anticipated to drive segment growth over the forecast period.

Global 360 Degree Camera Market Regional Synopsis

Regionally, the global 360 degree camera market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the increasing number of users of virtual reality (VR). It was observed that nearly 50 million VR users accessed virtual reality content in the United States every month in 2020. Moreover, the growing popularity of VR headsets, the emergence of advanced technology along with the high demand for 360-degree cameras in the military and defense industry in the region are expected to drive the regional market during the forecast period.

360-Degree-Camera-Market-Demand

The global 360 degree camera market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global 360 degree camera market includes the following segments:

By Resolution

  • High-Definition (HD)
  • Ultra-High-Definition (UHD)

By Connectivity Type

  • Wired
  • Wireless

By Camera Type

  • Single
  • Professional

By Vertical

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

By Application

  • Traffic-Monitoring
  • Grid Layout
  • Aerial Scenery
  • Others

Top Featured Companies Dominating the Global 360 Degree Camera Market

  • Samsung Electronics Co. Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Canon India Pvt Ltd.
  • LG Electronics
  • Nikon Corp.
  • GoPro Inc.
  • 360fly Inc.
  • Bubl Technology Ltd.
  • Sphericam Inc.
  • RICOH COMPANY, LTD
  • Insta360

 

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