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360 Degree Camera Market Segmented By connectivity type such as Wired 360 degree cameras and Wireless 360 degree cameras with industry vertical such as Automotive, Healthcare, Media and Entertainment, Residential, Industrial, Hospitality, Military and Defense, Others
Since the inception of cameras, continuous implementation of technological advancements have been witnessed in products for enhancing the quality, resolution and the area of the coverage captured. The latest and the newest member added to the camera family is a 360 degree camera.
Owing to the high demand for 360 degree cameras, even before their introduction, high demand for the same was witnessed. Further advancements in technology have resulted into the incorporation of advanced features, such as 4K, live streaming, waterproof, Wi-Fi and Bluetooth connectivity, GPS, mobile connectivity, and post-crop editing features, into 360 degree cameras.
360 degree cameras have witnessed considerable traction in the past four years and, are furthermore, expected to exhibit considerable growth rate during the forecast period.
One of the primary factors impacting the growth of 360 degree cameras is increasing awareness and demand for enhanced security and safety amongst end-users as a result of increasing crimes globally. Besides this, increasing demand and adoption of smart devices globally is also impelling the growth of the 360 degree cameras market.
Besides this, the introduction of wireless 360 degree cameras has also boosted the growth of the market, in terms of revenue. Thus, a transition is being witnessed from wired 360 degree cameras to wireless 360 degree cameras, which is also one of the recent trends being witnessed in the global 360 degree camera market.
Given the various features of 360 degree cameras and increasing awareness about the same across various industry verticals, high growth opportunities for the global 30 degree camera manufacturers, in terms of value, will be presented by automotive, healthcare and industrial verticals.
However, the high cost associated with 360 degree cameras is considered to be a major factor challenging the adoption of the same across some countries. This, as a result, is expected to be the primary restraining factor for the global 360 degree camera market.
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Some of the key players operating in the 360 degree camera market are Panasonic Corporation, GoPro, Inc., Ricoh Company, detu.com, SAMSUNG, YI Technology, Eastman Kodak Company, insta360.com, Garmin Ltd., LG Electronics, 360fly, Inc. and others.
By geography, the 360 degree camera market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, Japan, SEA and others in Asia Pacific and Middle East & Africa. Among these regions, the North America is expected to dominate the global 360 degree camera market during the forecast period owing to the high presence of various 360 degree camera manufacturers and high adoption of the same across various industry verticals in the region. Asia Pacific (including Japan and China) and Europe are expected to follow North America in the global 360 degree camera market.
China is, however, expected to exhibit highest growth rate during the forecast period owing to the increasing adoption of smart devices, increasing economic growth, increasing customer expenditure and transitioning spending behavior of end users in the region. Besides this, Latin America and MEA are also expected to witness considerable growth rate during the forecast period in the global 360 degree camera market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.