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360-Degree Camera Market is estimated to grow at a CAGR of 34.4% during the period 2017-2024, According to Research Nester

Blog post   •   Apr 17, 2018 02:27 EDT

Market Size & Forecast

Global 360-degree camera market is expected to flourish at a compound annual growth rate (CAGR) of 34.4 % over the forecast period i.e. 2017-2024. Rising popularity of virtual reality games and increasing demand for virtual reality headset are key factors which are expected to foster the growth of global 360-degree camera during the forecast period.

360-degree camera

In terms of region, global 360-degree camera market is segmented into five major regions i.e. North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region. In terms of share, North America region stood with highest share of global 360-degree camera in 2016. The growth of North America region can be attributed to various factors such as rising reputation of virtual reality games and presence of some of the major players of virtual reality gaming world such as Sony and Microsoft in this region. Apart from this, Asia-Pacific is expected to be the fastest growing region for 360-degree camera market during the forecast period owing to the high adoption of virtual reality technologies in Japan and China. Europe region is anticipated to witness a remarkable growth during the forecast period due to rising sale of gaming console in this region.

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Market Segmentation

Our-in depth analysis of the global 360-degree camera market includes the following segments:

By Application

Residential

Commercial

Industrial

Healthcare

Defense

Media & Entertainment

Others

By End User

Professional

Individuals

By Distribution Channels

Online Stores

Single-Brand Store

Multi-Brand Store

By Region

Global 360-degree camera market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis

Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis

Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis

Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.

Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis.

Growth Drivers & Challenges

The growth of global 360-degree camera market is primarily driven by rising popularity of virtual reality headsets coupled with increasing number of virtual reality gamers across the globe. Additionally, 360-degree cameras are very helpful tool to record videos for virtual reality headset device. Further, these cameras are highly used in virtual reality gaming also. Thus, rising penetration of 360-degree camera in virtual reality world is likely to drive the growth of global 360-degree camera market in near future.

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Construction of new virtual reality theme park is also a major factor driving the growth of global 360-degree camera market. China has launched the very first virtual reality theme park called SoReal Theme Park. Rising popularity of virtual reality in Asian countries such as China and Japan is likely to foster the growth of 360-degree camera market. Moreover, rising adoption of 360-degree cameras in defense sector in order to provide real life simulation for training soldiers is likely to foster the growth of global 360-degree camera market.

Rising number of industries introducing technologically advanced virtual reality devices in market is likely to drive the growth of global 360-degree camera market during the forecast period.

However, problems associated with 360-degree camera such as dull quality of video, lack of compatibility with other technologies are likely to dampen the growth of global 360-degree camera market in near future. Moreover, high cost of 360-degree cameras is also a major challenge which is expected to hinder the growth of global 360-degree camera market in near future.

Key Player

LG electronics

Company Overview

Key Product Offerings

Business Strategy

SWOT Analysis

Financials

Samsung

Nikon

GoPro

360fly

Bublcam

Giroptic

Facebook

Immersive Media Company

Nokia

Ricoh

Sphericam

Scope & Context

Overview of the Parent Market

Analyst View

Segmentation

The global 360-degree camera market is segmented as follows:

By Distribution Channel Market Size & Y-O-Y Growth Analysis

By End User Market Size & Y-O-Y Growth Analysis

By Application Market Size & Y-O-Y Growth Analysis

By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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