360-Degree Camera Market worth 24.80% CAGR by 2030

Bengaluru, November -The market for 360-degree panoramic cameras has been affected by the COVID-19 outbreak in a variety of ways. The market first slowed down as a result of supply chain interruptions, production disruptions, and physical activity constraints. Demand was down as a result of major setbacks experienced by numerous industries that mostly depend on these cameras, including travel, tourism, and event management. But as people got used to working remotely and virtual experiences proliferated, there was a move towards virtual events, virtual meetings, and virtual travel. As a result, 360-degree panoramic cameras saw an increase in demand as people looked for innovative ways to offer realistic virtual experiences. Because of this, the market had a rebirth, with a rise in the use and demand of these cameras during the epidemic.

In the upcoming years, it is anticipated that limitations in terms of hardware and software, incompatibility with other devices, and high price of 360-degree cameras will hinder the global 360-degree camera market. The abrupt outbreak of the COVID-19 pandemic led to the implementation of stringent lockdown protocols in multiple nations, which in turn caused the temporary shutdown of multiple manufacturing facilities and disrupted supply chains for 360-degree cameras, thereby impeding the market’s overall expansion.
Numerous IT companies are releasing different types of 360-degree cameras, each with unique features, ergonomics, sizes, and styles. Customers can live stream 4K video to important platforms via smartphones with these products’ integrated facial recognition, improved picture rates, Night Vision, and increased image stability. The primary rivals also provide superior photo sensors and expandable memory items, which boost their effectiveness and draw in more customers.

The 360-Degree Camera Market research report titled “360-Degree Camera Market Based On By Connectivity Type (Wired, Wireless), Resolution (HD, UHD), Camera Type (Single, Professional), Industry, Regional Outlook – Global Forecast Up To 2030”

In 2022, the 360-degree camera market was estimated to be worth USD 0.5 billion. The 360 degree camera market is expected to expand at a compound annual growth rate (CAGR) of 24.80% between 2023 and 2032, from an estimated USD 0.6 billion in 2023 to USD 3.6 billion by 2032. The main factors driving the market’s growth are the rising demand for immersive content, the expansion of applications for virtual reality (VR) and augmented reality (AR), improvements in camera technology, social media and content sharing platforms, applications across multiple industries, the growing popularity of live streaming, rising availability and affordability, and advancements in post-processing software.

The growing demand for immersive entertainment is largely to blame for the rapid expansion of the 360-degree camera business. In the current digital era, immersive experiences are becoming an intriguing choice for consumers and content creators seeking new and innovative methods to engage viewers. Immersion material is in high demand because people want more captivating and memorable experiences. Pictures and films, which are examples of traditional two-dimensional media, are not always able to fully convey the atmosphere and substance of a scene. On the other hand, 360-degree cameras offer a unique opportunity to capture and share memories in a way that is more vivid and realistic. When 360-degree cameras are used to record a live event, a virtual tour, or a vacation trip, users may completely immerse themselves in the scene, which increases the emotional impact of the content.

The advancement of augmented reality (AR) and virtual reality (VR) technologies has led to a greater demand for immersive content. A large amount of 360-degree content is required to provide users of VR headsets and AR devices with truly immersive experiences. 360-degree cameras are crucial to the creation of captivating virtual worlds, interactive applications, and training simulations. Alongside the rise of VR and AR, there has been a corresponding rise in the need for 360-degree cameras in industries like marketing, training, and gaming.

The growing demand for real-time interactions and experiences has led to a surge in the popularity of live streaming. With the use of 360-degree cameras, spectators may select their viewpoint and get a first-hand look at the event or location. The interactive element of 360-degree live streaming sets it apart from regular broadcasts and attracts a wider audience eager to engage with the material. Recent advancements in camera technology and post-processing software have made it possible to meet the growing demand for immersive entertainment. More precise information is produced by modern 360-degree cameras since they feature smoother stitching, higher resolution sensors, and better picture stabilisation. Additionally, user-friendliness in post-processing software has increased, making it simpler for content creators to alter and distribute their work. So, manoeuvring the 360 Degree Camera market revenue.

360-Degree Camera Market based on Connectivity Type:

Wired
Wireless

360-Degree Camera Market based on Resolution:

360-Degree Camera Market based on Camera Type:

Single
Professional

360-Degree Camera Market based on Vertical:

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

360-Degree Camera Market based on Geography:

North America
o US
o Canada
Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe (RoE)
Asia Pacific (APAC)
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific (RoAPAC)
Latin America (LATAM)
o Brazil
o Argentina
o Rest of South America
Middle East and Africa (MEA)
o UAE
o Turkey
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa

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