360 Degree Camera Market is Anticipated to Grow at a CAGR Of 22.5% From 2019 To 2030
Market Industry Reports (MIR) has published a new report titled “360 Degree Camera Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global 360 degree camera market was estimated to account for over US$ 580 million by 2019. The market is anticipated to grow at a CAGR of 22.5% from 2019 to 2030.
The global 360 degree camera market is driven by several factors, such as the growing popularity of virtual reality content and the increasing demand for virtual reality headsets. 360 degree cameras are helpful for recording videos for virtual reality headset devices. Also, the construction of new virtual reality theme parks and the adoption of 360 degree cameras for consumer usage are driving the market growth of 360 degree cameras globally. China has launched the first virtual reality theme park called SoReal theme park in Beijing.
Moreover, the rising adoption of 360 degree cameras in military & defense training, panoramic photography, and security & surveillance applications are anticipated to propel market growth globally. These cameras are ideal for video surveillance at airports, railway & metro stations, shopping malls, and other public places.
However, the high cost of 360 degree cameras, lack of compatibility with other technologies, and the need for high-speed internet connectivity are likely to affect market growth globally. The transfer of high-quality images and videos that are captured using 360 degree cameras require high-speed internet connectivity to see the same on monitoring devices on a real-time basis.
Browse key industry insights spread across 175 pages with market data tables & figures & charts from the report, 360 Degree Camera Market by Product Type (Wired Cameras and Wireless Cameras), Resolution (HD and Ultra-HD), Application (Consumer, Commercial, Military & Defense, and Media & Entertainment)-Analysis & Forecast 2019-20307 in detail along with the table of contents:https://www.marketindustryreports.com/360-Degree-Camera-Market/262
North America is the largest market for 360 degree camera markets and is anticipated to continue its dominance in the global market during the forecast period. On the other hand, Asia Pacific is expected to grow at the highest CAGR in the coming years. The growth of the Asia Pacific region can be attributed to the growing popularity of such cameras for panoramic photography, media & entertainment applications and travel & tourism purposes.
Some of the prominent players present in the 360 degree camera market include SAMSUNG ELECTRONICS CO., LTD., Nikon Corporation, FUJIFILM Corporation, GoPro, Inc., Xiaomi, LG Electronics., insta360, Eastman Kodak Company, Professional360 GmbH, and 360fly, Inc., among others.
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