Global 360 Degree Camera Market by Camera Type (Single and Professional), By Connectivity Type (Wired and Wireless) By Resolution (High Definition and Ultra-High Definition), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global 360 Degree Camera Market size is expected to be worth around USD 8 Billion by 2032 from USD 1.3 Billion in 2023, growing at a CAGR of 22.50% during the forecast period from 2023 to 2032.

The omnidirectional camera systems, or 360-degree cameras, concurrently record views in all directions. These recordings are often captured with either a single consumer camera or a system that incorporates many camera lenses. The camera or video editing software combines all of the recorded videos into a single spherical piece. Several lenses are often used in single/standalone 360-degree cameras to capture and automatically merge content. These cameras are less expensive and easier to operate.

The 360-degree camera rigs are more expensive and bulkier than single cameras since they feature many cameras that each record content separately. Advanced software is typically needed to stitch the content together following the production of videos with these rigs.

Note: Actual Numbers Might Vary In The Final Report

Key Takeaways

Driving Factors

With the help of a 360-degree camera, the whole event can be recorded for the viewers. The users can easily purchase their 360-degree cameras to capture all the views of the surrounding. The price of these cameras is inexpensive. Connection of camera with portable electronics. The demand for 360-degree cameras is rising due to a greater number of people choosing to watch 4K and HDR Videos. The 360-degree camera content is supported by major social networking sites like Facebook and YouTube. Because of this reason, it inspires users to create and post their 360-degree videos on various social networking Platforms.

Restraining Factors

Media and entertainment industries are moving toward faster frame rates and higher-resolution monitors due to the introduction of 360-degree cameras. Unfortunately, streaming high-quality 360-degree videos requires large bandwidth – typically 4-5 times as much as 2D videos do. 360-degree cameras capture images from every angle since they can be pointed in any direction; for a more immersive experience, images or videos should be at least 4K resolution. A higher resolution improves video quality but increases file size as well. These limitations could potentially slow market growth.

Growth Opportunities

360-degree cameras in the automotive industry are growing in popularity. Drivers can benefit from enhanced awareness of their environment, assistance while driving, awareness and support as well as safety. These cameras capture images from all angles and display them on a car’s display screen. Their popularity is growing because they can offer reliable evidence in case of collision or accident. There are various models and sizes of 360-degree cameras to choose from, each offering its special features.

Trending Factors

Growing Demand for Immersive and Interactive Content.

The use of 360-degree cameras is quickly expanding due to the increased desire for virtual and augmented reality (AR/VR) in video games and other interactive entertainment across the globe. The market is expanding because of the growing demand for immersive advertisements that showcase a product, establishment, or location. These advertisements aid businesses in developing a distinctive brand identity, especially on social media sites like Instagram, YouTube, and Facebook.

Extreme sports fans and vloggers also embrace 360-degree cameras in large numbers because of their robustness and capacity to capture a broader frame. 360-degree cameras are particularly good at creating high-resolution photographs, especially in dim lighting, making them perfect for professional use. In order to take high-angle views from an elevated vantage point, they are integrated with uncrewed aerial vehicles (UAVs) in aerial photography and filmmaking.

Camera Type

The market for camera types is divided into professional and single. A single camera can only use one primary lens, while a multi-camera setup permits multiple primary lenses to work together. Single cameras offer wide-angle, 360-degree high-quality images that increase security and awareness.

Note: Actual Numbers Might Vary In The Final Report

Connectivity Type Analysis

According to connectivity type, the wired segment was the most profitable in the 360-degree camera market. Cables are used to link wired cameras with an internet connection and power source; this type of camera is often found in photo studios. Over the forecast period, wireless cameras are expected to be the most profitable segment. These 360-degree cordless cameras can be utilized in both commercial and residential settings; they could even be employed for home security purposes.

Resolution Analysis

High-definition content (HD) has long been the go-to for those seeking superior resolution. HD cameras feature sharper 360 degrees angles than their SD counterparts, so images appear less blurry. Furthermore, high definition offers additional benefits like smoother motion and vibrant colors that look natural in real life. Ultra-high definition (UHD) is expected to be the most lucrative segment during this forecast period. An ultra-high definition 360-degree camera costs slightly more than an HD 360-degree cam and allows users to capture high-quality images and videos with these devices.

Industry Vertical Analysis

From sports to photography and events to festivals, 360-degree cameras have many applications in these industry verticals. This indicates a potential market expansion opportunity in this space. Media and entertainment sectors are expected to be the most profitable over the forecast period. 360-degree camera systems utilize multiple cameras for stunning 360-degree views. These systems are robust yet easy to use, making them suitable for many shooting scenarios.

Key Market Segments

By Connectivity Type

• Wired
• Wireless

By Resolution

• High Definition
• Ultra-High Definition

By Camera Type

• Single
• Professional

By Industry Vertical

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

Regional Analysis

North America held the most market share. The adoption of technologically improved items by consumers and the abundance of market participants creating single cameras and setups are what is fueling the market expansion in North America. On the other hand, it is anticipated that the Asia-Pacific region will be the most opportunistic throughout the projected period. The market for 360-degree cameras in the Asia-Pacific area will expand as a result of the rising demand for them in virtual reality gaming.

Note: Actual Numbers Might Vary In The Final Report

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

The 360-degree camera market is extremely competitive and has many competing companies. Sony, Nikon, Kodak, and LG Electronics these are notable players in 360-degree cameras. the market share of these players is subject to change as the market evolves and new players enter the market. However, GoPro and Ricoh are expected to maintain their leading positions in the 360-degree camera market due to their established brand reputation, strong distribution networks, and innovative product offerings.

Market Key Players

• Samsung Electronics
• Ricoh
• GoPro
• Insta360
• 360fly
• LG Electronics
• POCONO
• Digital Domain Productions
• YI Technology
• Immervision
• Nikon
• Xiaomi
• Rylo
• Bubl
• Other Key Market Players

Recent Developments

• 2022: Aerial surveillance, real estate photos, and outdoor sports videography could all benefit from the integration of 360-degree cameras and drones.
• 2021: Many 360-degree cameras set to be released in 2021 will have larger sensors and lenses, producing sharper and more detailed 360-degree images and recordings.

Report Scope