New York, United States, Mon, 31 Jul 2023 06:40:32 / Comserve Inc. / -- The global 360 degree camera market is anticipated to grow with a CAGR of ~20% during the forecast period, i.e., 2023-2033.
Research Nester published a report titled “360 Degree Camera Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global 360 degree camera market in terms of market segmentation by resolution, connection type, camera type, vertical, application and, by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global 360 degree camera market is anticipated to grow with a CAGR of ~20% during the forecast period, i.e., 2023-2033. The market is segmented by vertical into media & entertainment, consumer, military & defense, travel & tourism, automotive, commercial, healthcare and others. Out of these, the media & entertainment segment is anticipated to garner the largest revenue by the end of 2033 owing to the accelerating media & entertainment (M&E) industry. According to estimates, the Indian M&E industry is expected to grow between USD 50 to 70 billion by 2030.
The global 360 degree camera market is estimated to garner significant revenue by the end of 2033, up from modest revenue in the year 2022. Increasing automobile production, growing preference for cameras for sports activities, rising cases of security breaches, the rapid expansion of the commercial and healthcare sectors along with rising personal disposable income are some of the major factors anticipated to drive the growth of the market during the forecast period.
Geographically, the global 360 degree camera market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market North America is projected to garner the largest revenue by the end of 2033 backed by the growing number of virtual reality users. For instance, over 50 million VR American users consumed virtual reality content in the year 2020. Furthermore, rising demand for VR headsets and advanced technological infrastructure is expected to drive the regional market over the forecast period.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increase In Automatic Vehicle Sales To Drive The Market Growth
The global sales of automatic cars increased by 61 million units from 2020 to 65 million units in 2021.
The popularity of 360-degree cameras is rapidly growing in the automotive industry. Additionally, 360-degree cameras can aid drivers in understanding their surroundings, detect obstructions, and enhance automotive security. An LCD display on the car displays all angles of the images captured by the 360-degree cameras. With the increasing popularity of 360 degree cameras as part of automobiles and the increase in their sales, the market for 360 degree cameras is expected to grow over the forecast period.
However, high cost of 360 degree cameras are expected to operate as key restraint to the growth of global 360 degree camera market over the forecast period.
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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 Samsung Electronics Co. Ltd., Canon India Pvt Ltd., LG Electronics, Nikon Corp., GoPro Inc., 360fly Inc., Bubl Technology Ltd., Sphericam Inc., RICOH COMPANY, LTD, and Insta360. 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.
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