360-Degree Camera Market by Connectivity Type (Wired and Wireless), Resolution (HD and UHD), Vertical (Media & Entertainment, Consumer, Military & Defense, Travel & Tourism, Automotive, Commercial, Healthcare), and Geography - Global Forecast to 2023
360-degree camera market to grow at CAGR of 27.1% during 2018–2023
The 360-degree camera market is expected to reach USD 1,569.2 million by 2023 from USD 473.6 million by 2018, at a CAGR of 27.1% between 2018 and 2023. Increasing popularity of AR and VR content, and growing awareness about the need for safety and security at public places are the major driving factors for the growth of the 360-degree camera market. On the other hand, the need for large bandwidth to stream high-quality 360-degree videos restrains the growth of this market.
Market for professional 360-degree cameras to grow at higher CAGR during forecast period
The market for professional 360-degree cameras is expected to grow at the highest CAGR between 2018 and 2023. These cameras have an ability to shoot constantly, with live, high-quality video coverage at high frame rates. The 360-degree camera rigs are expected to exhibit good growth, considering the expected demand for these cameras in many intelligent solutions, such as automotive products, robotics, drones, and VR.
Consumer held largest size of 360-degree camera market in 2017
The consumer sector held the largest size of the 360-degree camera market in 2017. In the consumer sector, these cameras are used in applications such as sports, photography, festival, and events. The growing concern among consumers regarding safety is leading to the increasing adoption of 360-degree cameras, which provide wide area coverage for security surveillance. The 360-degree cameras eliminate the necessity to install multiple traditional cameras to obtain wide coverage, which, in turn, helps reduce installation time and cost and increases situational awareness.
360-degree camera market in APAC to grow at highest CAGR during forecast period
The 360-degree camera market in APAC is expected to grow at the highest CAGR between 2018 and 2023. The significant growth of the market in APAC is attributed to the high adoption of 360-degree cameras in the media and entertainment application. The increasing number of players in this region will add up to the growth of the 360-degree camera market in the region. The fast-growing consumer electronics market in APAC is expected to create ample opportunities for the 360-degree camera providers in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profiles of primary participants has been given below:
By Company Type: Tier 1 – 24%, Tier 2 – 31%, and Tier 3 – 45%
By Designation: C-Level Executives – 44%, Directors – 19%, and Others – 37%
By Region: North America – 38%, Europe – 28%, APAC – 26%, and RoW – 8%
Major players operating in the 360-degree camera market and profiled in this report are Samsung Electronics (South Korea), Ricoh (Japan), GoPro (US), Insta360 (China), 360fly (US), LG Electronics (South Korea), Nikon (Japan), Kodak (US), Rylo (US), Bubl (Canada), and Xiaomi (China). The report also profiles companies such as Immervision (Canada), Digital Domain Productions (US), YI Technology (US), PANONO (Professional 360GmbH) (Germany), AITBOT (Shenzhen Hatoa Technology (China), Freedom360 (US), Jaunt (US), Facebook (US), Humaneyes (Israel), Sony (Japan), and Panasonic (Japan).
The report defines, describes, and forecasts the 360-degree camera market on the basis of connectivity type, resolution, camera type, vertical, and geography. It provides detailed information regarding major factors influencing the growth of the 360-degree camera market (drivers, restraints, opportunities, and challenges). It also analyzes competitive developments such as product launches and developments; collaborations; partnerships; and acquisitions completed by the key players to grow in the market.
Reasons to Buy the Report:
Illustrative segmentation, analysis, and forecast pertaining to the 360-degree camera market based on connectivity type, resolution, camera type, vertical, and geography have been conducted to provide an overall view of the market.
Major drivers, restraints, opportunities, and challenges for the 360-degree camera market have been detailed in this report.
The competitive landscape of the key players in the market and their revenues have been provided in the report.