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The 360-degree camera market is projected to grow by USD 1.68 billion with a CAGR of 27%, during the forecast period 2020 to 2025.
This 360-degree camera market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (professional and non-professionals), application (filmmaking, events, and others), and geography (North America, Europe, APAC, South America, and MEA). The 360-degree camera market report also offers information on several market vendors, including Alphabet Inc., Fujitsu Ltd., Huawei Investment and Holding Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Ricoh Co. Ltd., Samsung Electronics Co. Ltd., Shenzhen Arashi Vision Co. Ltd., and Sony Corp. among others.
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Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The improving demand for VR headsets driving the VR content market is notably driving the 360-degree camera market growth, although factors such as hardware and software limitations of 360-degree cameras may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the camera industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key 360-degree Camera Market Driver
One of the key factors driving growth in the 360-degree camera market is the improving demand for VR headsets driving the VR content market. At present, the 360-degree camera market is undergoing a rapid transition in terms of the selling price of these gadgets. This is largely due to the influx of non-professional-grade devices in the market. Leading global brands such as Samsung (Gear 360 was one of the first consumer-grade VR cameras) had to reduce their market price due to significant competition from vendors such as Ricoh and Insta360. The gaming market is among the fastest markets to incorporate advanced technologies in its products. Hence, it is the largest adopter of VR content. The development and emergence of serialized content are transforming the traditional entertainment industry. The rising share of VR content is influencing the adoption of VR headsets. The increased penetration of VR headsets is going to increase the addressable market. The growth potential for cameras is expected to be high during the forecast period as the demand for VR content grows significantly.
Key 360-degree Camera Market Challenge
The hardware and software limitations of 360-degree cameras will be a major challenge for the 360-degree camera market during the forecast period. The limitation is hardware is likely to pose a major challenge for device manufacturers. For instance, VR consoles require high processing speeds and large storage capacities to play 360-degree videos efficiently. In addition, building a software platform that is compatible with the hardware is a major challenge for game developers. Latency may lead to 360-degree image distortions and can also cause motion sickness among users. Many instances of people not being able to play 360-degree VR content for more than 20 minutes have also not been reported. Although limitations with respect to tracking, resolution, audio, and haptics related to VR devices still exist, the success of VR will completely depend on the quality of hardware and software that manufacturers offer. This will hinder the growth of the market initially. However, the development of advanced hardware and improved software will minimize the impact of this challenge on the market.
This 360-degree camera market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the 360-degree camera market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the 360-degree camera market encompasses successful business strategies deployed by the key vendors. The 360-degree camera market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Fujitsu Ltd. - The company offers 360 camera support for Facebook recording, and YouTube live-streaming with a video resolution of 2048 x 1024 30 fps and still image resolution of 2304 x 1152.
Fujitsu Ltd. - Through the technology solutions segment, the company delivers products, software, and services to customers in an optimal, integrated package of comprehensive services.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain, and parent market of the 360-degree camera market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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