360 Degree Camera Market Size, Share, Growth Analysis, Revenue, Business Trends, Opportunities, Key Players and Impact of COVID

Market Overview

360-Degree Camera Market valued at USD 778.5 Million in 2020 and is expected to reach USD 2,993.6 Million by 2026 with a CAGR of 25.17% during the forecast period, 2020–2026.

The 360-degree cameras can be recognized as omnidirectional camera systems with the help of which the user can look in each direction and record the view if required. Suppose the user wishes to record the videos. In that case, it can either be done with the help of a single consumer camera or with the use of a rig that comes with multiple camera lenses that have integrations into the camera device. The 360-degree cameras are available in the form of a single and standalone camera that comes with multiple lenses that help capture and automatically stitch up the content captured as a part of the device. The best advantage of using these cameras is that they support easy-to-use and fall within the budget compared to other cameras. The camera rigs are home to multiple cameras responsible for separately recording the content. Hence, they are heavier and more expensive than single or standalone cameras. Stitching content will require advanced software and is likely to gain an excellent degree of momentum during the ongoing forecast period.

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Market segmentation

Based on connectivity type

For the user’s convenience and stagger a more significant demand amongst the target audience, these cameras are available both in the wired 360, alongside the wireless 360-degree product type.

Based on the end-use of the product

The end-use of these cameras is based on the purpose of investing in these cameras by the target audience.

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Regional Analysis

Based on the broad applicability and spread of the target audience in various regions globally, the 360-degree camera market is functional in 4 critical geographies. These are the North American region, the APAC region, Europe, alongside the rest of the world (RoW). During the forecast period of 2026, the North American region consisting of the US and Canadian market is expected to hold the largest share of the 360-Degree Camera Market and enjoy dominance over the other competing demands and areas. One of the primary reasons behind this growth is the customer inclination towards products backed by technological advancements.

Some of the prominent players belonging to the 360-degree camera market are as follows:

• Samsung Electronics (South Korea)
• PANONO (Professional 360GmbH) (Germany)
• Kodak (US)
• LG Electronics (South Korea)
• Ricoh (Japan)
• YI Technology (US)

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Industry News

• Insta360 and Mistika VR – a Spain Company entered into a partnership to establish flexibility and control over the functioning of the Insta360 Pro camera amongst its users as a part of their post-production flow. This is likely to provide the market with expansion opportunities and hence, enhance the availability of software solutions in the market.
• GoPro recently released the Mobile OverCapture feature for one of its products: the Fusion 360-degree camera for Apple devices. The feature will enable the users to reshoot videos from several perspectives. It is available in the form of an update in the GoPro application.

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