360 Degree Camera Market Scope:
The global 360 degree camera market 2020 could potentially gain a valuation of USD 2,130 million by 2025, estimates Market Research Future (MRFR). MRFR also evaluates market’s advancement rate to be 28% between 2019 and 2025 (review period). We will provide covid-19 impact analysis with the report, offering an extensive market evaluation post the coronavirus disease outbreak.
The global economy has almost reached recession since the COVID-19 outbreak, with the 360 degree camera market increasingly dealing with the financial impact. Since photography is considered to be more of a luxury than a necessity, its demand keeps fluctuating in line with the disposable income of the consumers. With the advent of the recession post pandemic, experts project the photography services to note reduction in demand. Market players with strong brands that have regular clients and generally observe good demand for 360 degree cameras can however feel lesser impact compared to other industries. Although the world is reeling with the negative impact of SARS-CoV-2, the revenue loss can reverse as soon as a COVID-19 breakthrough is achieved, the lockdown is uplifted and once the economy recovers. In addition, the 360 degree camera market is expected to stay afloat despite the impact of the novel coronavirus and retain its robustness compared to small businesses such as restaurants or retail shops, given its flexibility with respect to product costs.
360 Degree Camera Marketare largely used in automotive applications, assisting the driver in safely parking their vehicle. Nissan and Toyota are among the early adopters of 360-degree camera, increasingly equipping their cars with this latest technology to ensure driver’s and passenger’s safety. For instance, in June 2020, reports confirmed that Toyota Corolla Cross SUV will be making its debut in Asia this year. Toyota’s SUV will be launched soon and is expected to feature an advanced 360 degree camera along with reverse camera, automatic AC, blind spot sensor, as well as 9-inch touchscreen infotainment system. In the coming period, Toyota is planning to explore its worldwide SUV range for launch in India, given the rising number of car users in the country.
The latest technologies like augmented reality/AR) and virtual reality/VR are being integrated with 360-degree videos as well as photos to boost the product appeal while marketing, promising users with a highly immersive experience. For example, Facebook recently shifted its focus on video advertising, wherein 360 ads have become important aspects for marketing. Therefore, the increasing integration of the advanced technologies could be a big enhancer of the market growth for 360 degree cameras in the following years.
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Top Industry Players:
Top industry players listed in the report are GoPro, Inc. (US), Bubl Technology Inc. (Canada), Nikon Corporation (Japan), Rylo, Inc. (US), LG Electronics Inc. (South Korea), Samsung (South Korea), Ricoh Company, Ltd (Japan), The Eastman Kodak Company (US), Insta360.com (China), Xiaomi Corporation (China), 360fly (US), and more.
Some more players that have shares in the 360 degree camera market include Freedom360 (US), Humaneyes (Israel), Jaunt (US), Panasonic (Japan), Sony (Japan), Digital Domain Productions (US), YI Technology (US), Immervision (Canada), PANONO (Professional 360GmbH) (Germany), Shenzhen Hatoa Technology Co. Ltd. (China), Facebook (US), to mention a few.
- The 360 degree camera industry has been considered for connectivity type, resolution, camera type as well as vertical.
- The key connectivity types studied in the report include wired as well as wireless.
- The resolution-wise market categories include ultra-high definition (UHD) and high definition (HD).
- The camera types described in the market study are personal and professional.
- The primary verticals where the use of 360 degree cameras is increasing are military and defense, media and entertainment, automotive, travel and tourism, healthcare, commercial, and more.
The geographic analysis of the 360 degree camera market is studied for North America, Europe, Asia-Pacific, the Middle East & Africa, and Central and South America.
At present, North America is heading the 360 degree camera market, thanks to the increasing popularity of augmented reality and virtual reality games across the U.S as well as Canada. The huge pool of AR and VR gaming vendors in the region also benefits the regional industry. It is expected that the surging uptake of smart devices and the emergence of wireless 360 degree cameras in the region can be significant revenue generating factors in the market, in the years to come.
The European market is all set to expand remarkably during the appraisal period, given the rising application scope in the automotive sector, high customer spending and financial sound end-users present in the region.
APAC could possibly thrive at the fastest rate in the years ahead, as a result of the increasing use of virtual reality and augmented reality technologies in India, Japan and China. The rising uptake of 360 degree cameras in diverse industries such as industrial, healthcare, consumer electronics and automotive is anticipated to be another growth inducing factor in the regional market.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
List of Tables
Table 1 360 Degree Camera Market, By Phone Support
Table 2 360 Degree Camera Market, By Application
Table 3 360 Degree Camera Market, By Region
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List of Figures
Figure 1 Research Type
Figure 2 360 Degree Camera Market: By Phone Support (%)
Figure 3 360 Degree Camera Market: By Application (%)
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