The 360 degree camera market was evaluated at US$423.072 million for the year 2018 and is expected to witness moderate growth due to the rising popularity in the VR games and consoles. Simultaneously these cameras are now entering the security market as a single camera is able to capture a 360-degree view with a single unit. In addition, the entertainment industry is focusing more on the VR content owing to which this market is expected to grow during the forecasted period. Furthermore, the media and entertainment are expected to grow at an enormous rate due to an increase in VR games and movies. A rising trend is expected in the growth of this market due to more technological advancements across the globe resulting from the focus of the media and entertainment industry on the development of more VR content. Apart from this, the market is expected to grow in the defense industry because of its latest technology of capturing the 360-degree aerial views.
The increasing popularity of VR content.
Improvement in technology.
Increasing adoption of this camera across major industry verticals.
Slow adoption of technology.
High costs of these cameras.
In August 2017, Boeing invested in C360 Technologies, a company based in Pittsburgh focusing on 360-degree video and AR/VR across multiple platforms.
In October 2017, Insta360 launched a new action camera with 360-degree capability which can be used as a silent drone, it consists of advanced technology like cinematic slow-mo, ground-breaking stabilization.
The major players profiled in the 360-degree camera market include Samsung Electronics Co. Ltd, Ricoh Company Ltd, Insta 360, LG Electronics, Nikon Corporation, Eastman Kodak Company, GoPro, Sphericam Inc., Giroptic, and 360Fly Inc among others.
The 360-degree camera market has been analyzed through the following segments:
Media and Entertainment
Middle East and Africa