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360 Degree Camera Market Size
360 Degree Camera Market was valued at USD 1.41 billion in 2023 and is anticipated to register a CAGR of 24.5% between 2024 and 2032. There has been an increased demand for 360-degree camera in sectors such as entertainment & media, tourism & travel, real estate and security surveillance.
In the entertainment and media industry, 360-degree cameras play a crucial role in enhancing viewer experiences. They are utilized to create immersive environments for movies, sports broadcasts, and live events. By capturing a panoramic view of the surroundings this camera provides an enhancing viewing experience for audiences.
The real estate sector has benefited from 360-degree camera. This helps to create virtual property tour which gives consumers an actual view of the property spaces. Another sector benefiting from 360-degree camera is the commercial sector including airports, stations, malls, hypermarkets, and departmental stores for security and surveillance purposes.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 1.41 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 24.5% |
| 2024 – 2032 Value Projection: | USD 9.57 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 135 |
| Tables, Charts & Figures: | 49 |
| Segments covered: | Connectivity, resolution, usage, price, Lense, power source, end use, distribution channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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As these cameras cover a larger area this helps in monitoring the passenger and customers’ movement. The ability to capture and record the 360 views of these sectors,360-degree cameras offer an enhanced view in monitoring and in ensuring safety across diverse public and commercial spaces.
The 360 degree camera market faces a challenge due to the high bandwidth & storage requirements. 360-degree camera captures panoramic views significantly generating larger video files as compared to normal traditional cameras. There is an increased demand for storage devices to have access to captured files from 360-degree camera. Additionally sharing these files via network requires higher bandwidth to have a smooth playback video. Balancing this demand requires extra storage and high network capabilities to manage the video files. Manufacturers are developing new technologies and solutions to address these issues. They are aiming to provide storage efficiency and manage the data effectively without compromising on the quality of the files.
360 Degree Camera Market Trends
The 360 degree camera industry is experiencing a significant trend driven by the demand for camera used for live streaming events. Events such as music concerts, sports and conferences are being shot using 360-degree camera which allow users to experience real time view from various angles, further enhancing the viewers engagement. Additionally, 360-degree camera has also been installed in various consumer electronics products such as smartphones, action camera and VR headsets. There has been a rise in the travel industry and content creation leading to increased demand for 360-degree cameras for creating engaging content.
Additionally, smartphone manufacturers are manufacturing models integrated with 360-degree cameras to set themselves apart from the competitive market. For instance, protruly darling has launched first smartphone with built in 360-degree camera allowing users to record and take photos from all the direction. Such innovation in the product lineup and demand from consumer electronics industry is driving the demand for 360-degree camera.
360 Degree Camera Market Analysis
Based on the lens type the 360-degree camera market is segmented as single, multiple and dual. The single lens has accounted for a market share of 39.8% and is anticipated to grow at a CAGR of 23.8%. The single lens dominance is due to their compact design and easy to handle features. Single lens is designed to be more compact and are easier to use than managing multiple lenses. Single lens is more cost effective as compared to multi lens and dual lens. This cost effectives appeals many consumers to invest in 360-degree camera. Moreover, single lens is versatile to use for social media to virtual tours and live streamlining. Due to this flexibility, cost-effectiveness and compact design single lenses are preferred in the 360-degree camera market.
Based on connectivity, the 360 degree camera market is segmented into wired and wireless. The wired segment has accounted for a market share of 63.8% in the year 2023 and is anticipated to grow at a CAGR of 24.1% during the forecast period. The wired segment dominance is due to the advantages it offers. USB connections offer higher bandwidth and reliability ensuring smooth data transfer of large video files. Wired connectivity is used where higher video quality is required. While Wireless connectivity is gaining popularity, consumers are preferring wired connectivity cameras to meet the growing demand from various industries.
North America emerged as the dominant region, generating a substantial revenue of USD 600 million in 2023 and is expected to grow at a CAGR of 24% during the forecasted period. North America region dominance is due to the presence of leading companies like google, apple and Facebook meta who are investing heavily in virtual reality and augmented reality driving the need for 60-degree camera. Additionally north America region is leading in adoption of these technologies in various sectors such as entertainment & media and real estate.
North America: The U.S. dominated the North America 360 degree camera market with a revenue of around USD 470 million in 2023 and is growing at a CAGR of 23.5% during the forecasted time period. This dominance is due to the region’s strong adaptation in training simulations, virtual conferencing and remote inspections, and marketing campaigns, demonstrating their versatility and value in enhancing operational efficiency and customer engagement.
Europe: UK led the Europe market with a revenue of around USD 110 million in 2023 and is expected to reach around USD 770 million by 2032. Uk has a strong presence of manufactures known for their effective solutions in these camera technologies. Additionally, Uk has adopted 360 degree camera in education and training where these camera are used for giving virtual tours and learn in an interactive way.
Asia Pacific: China dominated the Asia Pacific 360 degree camera market with a market share of 22.32% and is anticipated to grow at a CAGR of 27.6% during the forecasted period. China has been dominating Asia pacific due to the presence of large tech savvy consumer base. There is a high demand for consumer electronics products from these consumer bases. Overall, the presence of large tech consumers and its technological advancements are contributing to the overall growth of the 360-degree camera market.
360 Degree Camera Market Share
The 360 Degree camera industry consists of major players such as GoPro, Ricoh, Lg electronics and Samsung electronics holding a market share of 30%. Manufacturers are adopting strategic steps, such as mergers, acquisitions, partnerships, and collaborations, to meet the growing consumer demand and consolidate their position in the market.
360 Degree Camera Market Companies
Major players operating in the 360 degree camera industry include:
- 360fly
- AITBOT
- ALLie Camera
- Denso Corporation
- Digital Domain Productions
- Freedom360 LLC
- GoPro
- Insta360
- LG Electronics
- Nikon
- PONONO (Professional 360 GmbH)
- Ricoh
- Samsung Electronics
- Vuze Camera
- Xiaomi
360 Degree Camera Industry News
- In April 2024, Nikon completed its acquisition with US cinema camera manufacturer RED.com LLC which offers digital cinemas cameras and award-winning technologies.
- In November 2023, Ricoh announced strategic partnership with cupix where Ricoh latest 360-degree camera will be fully integrated with cupix works and cupix vista offering a 3d image solutions.
- In March 2023, Baybot launched a new live 360-degree smart security camera to keep a watchful eye on kids, family and property. The camera has been upgraded with 3-megapixel sensors and can be connected through smartphones.
The 360 degree camera market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) (Thousand units) from 2018 to 2032, for the following segments:
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Market, By Connectivity
- Wired
- Wireless
Market, By Resolution
- HD High definition
- Ultra-High definition
Market, By Usage
- Personal
- Professional
Market, By Price
- Low
- Medium
- High
Market, By Lens
- Single
- Multiple
- Dual
Market, By Power source
- Electric
- Battery operated
Market, By End use
- Individual
- Commercial
- Supermarkets
- Retail stores
- Airports
- Production plants
- Warehouses
- Industrial
- Automotive
- oil & gas
- Food & beverages
- Mining
- others (Printing, packaging)
Market, By Distribution channel
- Direct sales
- Indirect sales
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
Frequently Asked Questions (FAQ) :