Growing Popularity of Virtual Reality Videos and Rapid Technological Advancements with Cameras are Propelling the Growth of 360-Degree Camera Market“360-Degree Camera Market: Global Demand Analysis & Opportunity Outlook 2024”
The global 360-degree camera market is segmented into applications such as residential, commercial, healthcare, industrial, defense, media & entertainment and others. Among these segments, media and entertainment segment is expected to grow at remarkable pace during the forecast period. Growing use of 360-degree cameras in making of virtual reality videos and games is a major factor which is estimated to drive the growth of this segment during the forecast period.
Global 360-degree camera market is expected to expand at a robust CAGR over the forecast period. Moreover, the global 360-degree camera market is anticipated to reach at remarkable revenue by the end of forecast period. The market is expected to grow on the back of increasing number of virtual reality gamers across the globe.
The professionals segment by end user is likely to grow at remarkable pace during the forecast period. Growing popularity of 360-degree movies and increasing number of virtual reality theme parks are some of the factors which are fueling the growth of this segment.
Growing entertainment and media sector
Rising popularity of VR (Virtual Reality) movies and increasing VR applications in entertainment and media sector are the major factors which are augmenting the demand for 360-degree cameras. Further, increasing number of VR gamers is also expected to foster the growth of global 360-degree camera market during the forecast period.
Rising adoption of 360-degree cameras in various industries
Increasing adoption of 360-degree cameras for supervision purposes at residential, industrial and commercial places is a key factor which is propelling the growth of global 360-degree camera market. Growing adoption of 360-degree cameras at shopping malls & stores, office buildings, hospitals, hotels, trains and other public locations for monitoring purposes is estimated to foster the growth of global 360-degree camera market.
However, high cost of 360-degree cameras is a key factor which is obstructing the growth of global 360-degree camera market.
The report titled “360-Degree Camera Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global 360-degree camera market in terms of market segmentation by application, by end-user, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global 360-degree camera market which includes company profiling of LG electronics, Samsung Electronics Co. Ltd., Nikon Corp., GoPro Inc., 360fly Inc., Bublcam, Giroptic SAS, Immersive Media Company, Nokia OZO and Sphericam Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global 360-degree camera market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.