|01-11-2019 03:25 PM CET - IT, New Media & Software||
360 Degree Camera Market major players operating in the global, Nikon, LG Electronics, Samsung, Insta360, Kodak,Xiaomi, among others
Press release from: zion market research
Zion Market Research has published a new report titled “360 Degree Camera Market by Connectivity (Wired and Wireless), by Resolution (HD, Ultra HD, and Others), by End-Use (Personal and Commercial), by Industry Verticals (Media & Entertainment, Military & Defense, Digital Photography, Travel & Tourism, Automobile, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global 360 degree camera market accounted for USD 372.0 million in 2017 and is expected to reach USD 1,949.7 million globally by 2024, growing at a CAGR of around 26% between 2018 and 2024.
360 degree camera is an imaging device that allows the user to capture photos and record videos from every angle. The camera is available in two types namely: monoscopic and stereoscopic. 360 degree cameras contain multiple lenses that are embedded in it.
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Over the past decade, the adoption of technology in various medical applications has boosted the healthcare sector. In various medical institutes, 360 degree cameras are used to provide a live streaming of the surgery. The streaming is viewed by surgeons through their virtual reality (VR) headset to prevent any surgical mishap. In the U.S. alone, about 250,000 deaths occur annually due to medical mishaps. In order to reduce such mistakes, healthcare institutes are going for this technology. The value of VR in the healthcare sector was about USD 975 million in 2017 as compared to USD 525 million in 2012. The figure is anticipated to increase owing to its increasing adoption in live streaming of surgeries. Thus, the healthcare sector is expected to fuel the growth of 360 degree camera market during the forecast period.
Technological development in the automotive sector is fueling the growth of 360 degree camera market. The cameras are used in autonomous vehicles to identify signboards and track pedestrians. From 2014 to 2017, the global investments in autonomous vehicles were about USD 80 billion. In 2018, the Softbank Group announced an investment of USD 2.25 billion in General Motors for developing autonomous cars. The investments are expected to increase as automotive manufacturers are planning to launch autonomous vehicles over the next 5 years. These advancements are projected to drive 360 degree camera market during the forecast period.
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The global 360 degree camera market is divided as per connectivity into wired and wireless. Wireless segment is anticipated to dominate the 360 degree camera market during the projected timeframe. Further, the 360 degree camera market is categorized on the basis of industry vertical which is further divided into media & entertainment, military & defense, digital photography, travel & tourism, automobile, healthcare, and others. Media and entertainment segment is expected to hold a substantial share during the forecast period.
North America is expected to witness a significant growth in the 360 degree camera during the forecast period. The U.S. is anticipated to lead the regional market during the projected timeframe. Advancements in technology used in the defense sector are expected to fuel the market growth in the region. In the Asia Pacific, a notable contribution is made to the growth of 360 degree camera market from developing economies such as China and India. This growth is anticipated owing to the increased investments in media and entertainment sector. Thus, the Asia Pacific market is projected to grow at a substantial rate during the forecast period.
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Some of the top players in the 360 degree camera market are Nikon, LG Electronics, 360fly, GoPro, Samsung Electronics, Insta360, Kodak, Ricoh, Rylo, Bubl, and Xiaomi, among others.
The report segments the global 360 degree camera market as follows:
Global 360 Degree Camera Market: Connectivity Segment Analysis
Global 360 Degree Camera Market: Resolution Segment Analysis
Global 360 Degree Camera Market: End-Use Segment Analysis
Global 360 Degree Camera Market: Industry Vertical Segment Analysis
Media & Entertainment
Military & Defense
Travel & Tourism
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Global 360 Degree Camera Market: Regional Segment Analysis
The Middle East and Africa
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