360 Degree Camera Market Size & Share, by Resolution {High-Definition (HD), Ultra-High-Definition (UHD)}; Connectivity Type (Wired, Wireless); Camera Type (Single, Professional); End-user (Media & Entertainment, Consumer, Military & Defense, Travel & Tourism, Automotive, Commercial, Healthcare); Application (Traffic-Monitoring, Grid Layout, Aerial Scenery) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 385
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

360 Degree Camera Market size is poised to cross USD 8 Billion by the end of 2033, growing at a CAGR of 20% during the forecast period, i.e., 2023-2033. In the year 2023, the industry size of 360-degree camera was over USD 1.3 Billion. The rapid growth of the virtual reality sector worldwide, decreasing installation time and cost, and rising public awareness of crime situations propels the market’s growth. 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.

Moreover, rising cases of security breaches, increasing integration of 360-degree camera with smartphones, the growing popularity of animated and 3D movies along with the emergence of innovative products is expected to drive 360-degree camera market growth over the forecast period. For instance, in January 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 touchscreen display and high-quality images are provided by this new model.


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360 Degree Camera Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

20%

Base Year Market Size (2023)

USD 1.3  Billion

Forecast Year Market Size (2033)

USD 8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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360 Degree Camera Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Growing Sales of Automatic Vehicles with Rising Transport Needs - 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 for Better Quality Audio During Gaming and Streaming - 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 with Rising Gamers – It was observed that the VR gaming industry generated revenue of USD 1 billion in 2020.
  • Increasing Exports of Videos Camera Recorders Owing to Growing Photographers - 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 USD 13,220,456 thousand, which increased from USD 10,788,881 thousand in the previous year.
  • Growing Personal Disposable Income of People Across the World - 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 need for high-resolution bandwidth will increase the maintenance price of the device, rising demand for high resolution and faster frame rates in media and entertainment sectors, and more preference for superior quality videos which increase the file size and need more storage space are some of the major factors hampering the growth of the market.


360 Degree Camera Segmentation

End-user (Media & Entertainment, Consumer, Military & Defense, Travel & Tourism, Automotive, Commercial, Healthcare)

The global 360-degree camera market is segmented and analysed 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.

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

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360 Degree Camera Industry - Regional Synopsis

North America Market Forecast

The North America region 360-degree camera market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. 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.

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Companies Dominating the 360 Degree Camera Landscape

top-features-companies
    • 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

In-the-news

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.


Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 385
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Expansion of VR industry along with rising users of VR headsets along with increasing popularity of 3D and animated movies are the major factors driving the growth of the 360 degree camera market.

The market is anticipated to attain a CAGR of 20% over the forecast period, i.e., 2023-2033.

Lack of public awareness of 360 degree cameras is expected to hinder market growth.

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Samsung Electronics Co. Ltd., Canon India Pvt Ltd., LG Electronics, Nikon Corp., GoPro Inc., 360fly Inc., Bubl Technology Ltd., Sphericam Inc., RICOH COMPANY, LTD, and Insta360.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by resolution, connection type, camera type, vertical, application and, by region.

The media and entertainment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
360 Degree Camera Market Report Scope
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