Global 360-Degree Camera Market to grow at a CAGR of 34.85% during the period 2016 - 2020; Finds New Report

Report forecast the global 360-degree camera market to grow at a CAGR of 34.85% during the period 2016-2020.

360-degree cameras are considered to be revolutionary VR products. A 360-degree camera records a video simultaneously from all angles of a scene. Spherical view originated from street view. It converts a 360-degree view into a landscape image. 360-degree cameras were primarily used for mapping. Over the years, 360-degree cameras have found applications in various domains. 360-degree cameras can be used to take panoramic photos, shoot interactive videos, and make films.

The report covers the present scenario and the growth prospects of the global 360-degree camera market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of 360-degree cameras for VR applications.

The market is divided into the following segments based on geography:

• Americas
• APAC
• EMEA

According to the report, one of the primary drivers in the market is increasing penetration of VR headsets. The gaming market is among the fastest markets to incorporate advanced technologies in its products. The gaming market is the highest adopter of VR content. In 2015, VR games accounted for 5% of the global gaming market, and this is expected to increase to 12% by 2020. The share of VR content in the gaming segment is influenced by the increase in production and adoption of VR headsets. VR provides a simulated environment through VR hardware and software, which gives users a virtual experience. VR uses synchronized sound and sight with data suites to provide users a real-life experience. The increased penetration of VR headsets is going to increase the addressable market for 360-degree cameras. We expect the growth potential for 360-degree cameras to be high during the forecast period as the number of VR gamers is increasing. This is indicated by the growth in shipment of VR headsets. In 2015, around 1.8 million VR headsets were shipped, which increased to around 9.5 million in 2016.

Further, the report states that one major challenge in the market is premium-priced 360-degree VR headsets. Technological advances have led to the manufacture of advanced 360-degree VR headsets by a large number of global brands. Companies such as Samsung Electronics, Nokia, GoPro, and Google have introduced advanced 360-degree VR headsets. These devices are priced very high. The most renowned 360-degree VR camera Nokia OZO is priced at $45,000. The camera is used for professional purposes, such as the creation of theme parks. The Walt Disney Company has collaborated with Nokia for the creation of 360-degree theme parks. Though the price range of consumer cameras are relatively low, they are still not affordable for the majority of the population. For instance, the Samsung Gear 360 is priced at $350 and Sphericam 2 is priced at $2,500. The high cost of 360-degree cameras hinders its adoption among the target population.

Global 360-Degree Camera Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global 360-degree camera market: LG Electronics, Nikon, GoPro, and Samsung Electronics.

Other prominent vendors in the market are: 360fly, Bublcam, Facebook, GIROPTIC, IC Real Tech, Immersive Media Company, Eastman Kodak, LucidCam, Nokia, Ricoh, and Sphericam.

Market driver

• Global brands increasing awareness of VR.
• For a full, detailed list, view our report

Market challenge

• Limitations of 360-degree camera hardware and software.
• For a full, detailed list, view our report

Market trend

• Growing acceptance of 360-degree camera as next-generation technology.
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 55 pages and 33 Exhibits “Global 360-Degree Camera Market 2016 - 2020” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by technology adopter, Market segmentation by end-user, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

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