360-Degree Camera Market

360 Degree Camera Market Outlook (2023 to 2033)

The global 360-degree camera market is valued at US$ 1 billion in 2023 and is set to top a valuation of US$ 7 billion by 2033, expanding at an astonishing CAGR of 21.4% from 2023 to 2033 (forecast period).

Since the invention of the camera, several technological advancements have been integrated into these products to improve capture quality, coverage, and resolution. The 360 degree camera is the most recent addition to the camera family.

A 360-degree camera, also referred to as an omnidirectional camera, is a portable, small device that enables users to capture a 360-degree field view in the horizontal plane or a visual field that encompasses the entire sphere. It normally features two fisheye lenses positioned on either side of the camera's body, each with a 180-degree field of vision.

360-degree cameras are suitable for a wide range of applications, including video surveillance at metro and railway stations and airport terminals, security for industrial sites and critical infrastructure, city surveillance installations like public square monitoring, video surveillance of school halls and university campuses, and shopping mall security both indoors and outdoors, including car parking.

These cameras are easy to operate and manage than DSLR cameras. 360-degree cameras require more power to generate heat than other cameras. As a result, they have energy-saving chips inserted.

360-degree cameras are quickly gaining ground in the automotive industry. Incorporating 360-degree cameras into automobiles gives drivers a better comprehension of their environment, obstruction awareness, assistance when driving, and overall automotive protection. 360-degree cameras record images from all angles and display them on the vehicle's LCD monitor.

360-degree dash cams are also getting prominence since they can provide solid evidence in the case of an accident or collision. These cameras are available in a range of sizes, shapes, and types, each with its own set of features. The WISEUP 360-Degree Dash Cam, Falcon Zero F360, Morefine 3600 Car Camera, and Falcon 4-Camera 1080p Trucker Dash System are among the best-featured car cameras.

Moreover, numerous technology companies are releasing various types of 360-degree cameras, each with a varied price, size, ergonomics, and style. Face recognition, night vision, better frame rates, and superior image stabilization technologies are integrated into these gadgets, which allow users to live stream 4K videos to major platforms via smartphone connectivity.

The leading players are also introducing products with expandable memory and high-quality image sensors to boost their profitability and attract a broader user base.

Report Attributes	Details
360-Degree Camera Market Size in 2023	US$ 1 Billion
Projected Market Value (2033)	US$ 7 Billion
Global Market Growth Rate (2023 to 2033)	21.4% CAGR
North America Market Share (2022)	36.5%
Growth Rate (2023 to 2033)	15.3%
Key Companies Profiled	LG Electronics, Inc GoPro, Inc Nikon Corporation Samsung Electronics Co., Ltd Panasonic Corporation Facebook, Inc ImmerVision Enables HumanEyes Technologies Ltd

Why is Global Demand for 360-Degree Cameras Surging?

“High Demand for Interactive & Immersive Content”

Demand for 360-degree cameras is growing substantially due to the increasing adoption of augmented reality (AR) and virtual reality (VR) in video games and other kinds of interactive entertainment around the world.

Moreover, increased popularity of immersive advertisements for promoting a property, product, or store is fueling the demand for 360-degree cameras. These advertisements assist businesses in developing a distinct brand image, especially on social media platforms like Facebook, Instagram, and YouTube.

“Increasing Usage by Extreme Sports Fanatics & Vloggers”

360-degree cameras are popular among extreme sports fanatics and vloggers. Sports fanatics and vloggers make great use of these wearable cameras due to their sturdiness and capability to record a broader frame.

Furthermore, the increasing need for improved photography solutions is raising the demand for 360-degree cameras. These cameras are excellent at capturing high-resolution images, especially in low-light circumstances, making them acceptable for professional use. Consequently, they're increasingly employed in filmmaking and aerial photography, where they're paired with UAVs (unmanned aerial vehicles) to capture high-angle views from a higher vantage point.

“High Use in Military & Defense Sector”

360-degree cameras are commonly employed in the military & defense sector to provide commanders with a 360-degree perspective of the battleground. These devices can be attached to unmanned aerial vehicles (UAVs), allowing them to capture real-time video and photos no matter where they fly, or they can be mounted on stationary structures such as buildings, poles, and towers. The primary advantage of deploying 360-degree cameras in the military is that they provide situational awareness on the battlefield.

Which Factors Concern Companies Manufacturing 360-Degree Cameras?

“Dearth of Large Bandwidth”

In the sports and media and entertainment sectors, there is a growing demand for high-resolution tracking and quicker frame rates for higher-quality photos. Large bandwidth has emerged as a requirement for streaming top-quality 360-degree footage since the debut of 360-degree cameras.

When compared to ordinary 2D footage, 360-degree footage takes 6 to 7 times the bandwidth. 360-degree cameras collect pictures from all angles because they are omnidirectional. Furthermore, for viewers to have a fantastic, immersive experience, the photographs or videos must have a higher resolution, like 4K or over 4K. The higher the resolution, the better the 360-degree footage quality, which increases the size of the file. This boosts the requirement for more bandwidth to deliver exceptional 360-degree visuals.

“Challenges in Recording Small Objects”

Since 360-degree camera setups are too huge, recording small models or objects from a short range with these cameras becomes challenging. In a standard 360-degree arrangement, many lenses are arranged close to one another using disk-shaped/ball-shaped hardware to cover the entire scene.

The range between the cameras is irrelevant for bigger sets, particularly when recording objects from standard distances. The challenges occur primarily while filming for smaller settings and recording objects from incredibly close distances. The gap between the cameras causes picture defects, resulting in the parallax effect.

Country-wise Insights

What Makes the United States a Prominent Market for 360-Degree Cameras?

“Increasing Availability of VR Games and High Adoption of VR Headsets”

According to Fact.MR, a market research and competitive intelligence provider, North America held 36.5% of the market for 360-degree cameras in 2022. Customers' proclivity to purchase technologically advanced items and the presence of leading participants manufacturing standalone cameras and setups are driving market expansion in North America.

The United States is majorly contributing to regional market growth due to expanding availability of virtual reality games and the growing adoption of virtual reality headsets in the country. In 2020, almost 50 million VR users in the United States viewed virtual reality content.

Furthermore, the increasing demand for 360-degree cameras in the entertainment industry, the advent of advanced technologies, and growing usage in the country's military and defense sector are boosting market growth in the United States.

Which Countries are Fostering Market Expansion in Asia Pacific?

“Japan and South Korea to Complement Regional Market Growth”

The Asia Pacific market is witnessing significant growth due to the growing use of smart devices, rising economic growth, and increasing consumer spending in the region.

Moreover, Japan and South Korea are promoting market growth in Asia Pacific due to the presence of prominent players such as Nikon Corporation, Samsung Corporation, Canon Inc, and Sony Corporation in these countries. These businesses are constantly focusing on new developments and updating their products with cutting-edge technologies, which is projected to fuel the demand for 360-degree cameras over the projection period.

How are Sales of 360-degree Cameras Shaping Up in Germany?

“Germany to Experience Increasing Sales of 360-Degree Cameras”

Demand for 360-degree cameras in Europe is increasing due to significant investments in safety measurements. Public and commercial companies are becoming more aware of the hazards and investing extensively in security systems, which is driving regional market expansion. In addition, the growing use of modern security cameras in residential areas is adding to the regional market growth.

Moreover, the sales of 360-degree cameras in Germany are growing considerably due to the high adoption of virtual reality technologies.

Category-wise Insights

Why are 360-Degree Wireless Cameras in Such High Demand?

“Greater Convenience Offered by 360-Degree Wireless Cameras”

Demand for 360-degree wireless cameras is expected to develop at a CAGR of 15.3% during the forecast period. The demand for 360-degree wireless cameras is increasing as a result of the greater convenience that these devices offer. Users can video real-time surroundings and outdoor athletic events in their entirety using 360-degree wireless cameras. 360-degree wireless cameras outperform wired cameras in practically every case in terms of mobility and versatility.

Moreover, the demand for 360-degree wired cameras is also rising. 360-degree wired cameras are extremely handy when movement is restricted. The vast bulk of these cameras can be found in commercial, retail, and residential settings, among others.

Competitive Landscape

Key players in the 360-degree camera market have been using different development strategies to generate growth avenues in the coming years. Some of these strategies include technological partnerships and collaborations, mergers and acquisitions, novel product introductions and approvals, regional expansion, and R&D activities. Moreover, several start-ups are entering the global market with novel offerings.

• DreamVu, an Indian start-up, offers a single sensor-based, 360-degree camera with depth sensing. The hardware includes a software development kit (SDK). Their omnidirectional camera device provides augmented navigation skills to autonomous robots and can take 360-degree, 3D videos in real time.
• In July 2021, Mistika VR and Insta360 partnered to provide flexibility and control over the operation of the Insta360 Pro camera as part of their post-production workflow.
• GoPro launched the over-capture capability for the Fusion 360-degree camera for Apple devices in June 2021.

Key Segments of 360-Degree Camera Industry Research

• By Camera Type :

  • Single
  • Professional

• By Connectivity :

  • Wired
  • Wireless

• By Resolution :

  • High Definition (HD)
  • Ultra-high Definition (UHD)

• By Vertical :

  • Media & Entertainment
  • Consumer
  • Military & Defense
  • Travel & Tourism
  • Automotive
  • Commercial
  • Healthcare
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific & China
  • Middle East & Africa