Due to the new adaptation of VR/AR and VR gaming in the gaming industry the 360-degree panoramic camera market is expected to have an increased growth in the forecast period.
According to the current analysis of Introspective Market Research, the global 360 Degree Panoramic Camera (DPC) market was valued at USD 75.14 Billion in 2019 and is expected to reach USD 332.12 Billion by the year 2026, at a CAGR of 23.89%.
Panoramic camera is the device that provides the coverage of whole area with a single camera. The use for this device is to monitor specific activities, detect incidents in large areas, track the flow of individuals, indoor and outdoor surveillance etc. This device is more used for the security purpose in the corporates than the commercial areas for aerial scenery etc. These cameras are ideal for different applications like video surveillance, city surveillance installations such as monitoring public squares, security for critical infrastructure and industrial sites, video surveillance of university campuses & school halls, and shopping mall security both indoors & outdoor including the car parking.
The market is driven by the factor that the device is cost-effective and easily available which is used for the advanced photography, digital market, and for safety measures in public. Hence, the market is expected to grow in the forecast period. 360 Degree panoramic camera (DPC) market has been estimated to show a tremendous growth in the forecast period due to the new adaptation of VR/AR and VR gaming. As there is an increase and growth in urbanization and standardization, there is an increase in the growth of the market especially in the developed nations. With the new adaptation of advanced technology, the gaming market has been on a rapid growth with the new augmented and virtual reality which is directly impacting the growth of the 360-degree panoramic camera market.
In terms of region, the market for 360 Degree Panoramic Camera (DPC) is segmented into North America, Europe, Asia-Pacific, and Rest of the World. The North-American region is projected to grow at the highest CAGR among all the regions by 2021. This is mainly due to the high usage from the media and entertainment industry.
The 360 Degree Panoramic Camera (DPC) market is by Product Type (Industrial and Commercial), By Verticals (Media & Entertainment, Consumer, Military & Defense, Travel & Tourism, Automotive, Commercial, Healthcare and Others), By Connectivity (Wired and Wireless), By Resolution (HD and Ultra HD), by Application (Traffic Monitoring, Aerial Scenery, Grid Layout, and Others). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- The market for 360-degree panoramic camera is also very much trending due to the high technology attached with it that is used in various sectors such as to have a zoomed and accurate version of tracking traffic and surveillance.
- From the Verticals segment, although the Media & Entertainment segment is accounted for the largest share in the market, Healthcare segment is estimated to be the fastest growing segment with the highest CAGR in the forecast period.
- Due to the high-tech savvy technology the defense and military increasing the production of the market, there is a high demand for the 360 Degree Panoramic Camera (DPC) market.
Key Participants include Samsung, Nikon, Nokia, Bublcam, Teche, Ricoh, Canon, Sony, Panono, 360fly, GoPro, Insta360, LG Electronics, Kodak.
For this report, Introspective Market Research have segmented the 360 Degree Panoramic Camera (DPC) markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM