Over the past two or three years, virtual reality has become one of the most trending technological innovation. It is an immersive computer technologies that can seemingly transport viewers back in time and allow them to re-experience moments. With the introduction of virtual reality camera, the technology has gained momentum and has become a practical option for wider audience. These cameras capture photos from every angle therefore letting the user to put themselves and everything around them into the frame or picture. These 360 degree cameras have received a great acceptance and all the major companies are investing in the development of the cameras. These advance cameras are built on a rig setup, having multiple optical sensors attached onto a spherical device combined with omni-directional microphones that captures audio in all direction with robust accuracy. VR cameras are able to capture and create VR content that gives the viewer totally new experience.
Enterprises are continuously innovating the cameras to enhance the end user experience. For instance, there are cameras that uses software to stich footage from lenses on opposite side of its body to create photos that covers everything around it .These photos can be viewed from virtual reality headsets on any website that supports it which presently includes all the major social media sites.
The market is driven by the growth of virtual reality as a platform to augment end-user experience and early investment by big enterprises in the technology. The virtual reality cameras are expected to have wide application in the field of filmmaking, photography, sports events, music concert and festivals.
However, since the VR cameras are quite expensive it is not affordable by wider audience, therefore restricting the growth of the market. Owing to the pertaining development in the field of virtual reality and wide acceptance of the technology in various industry verticals, the market displays broad opportunity to grow in recent times. Travelling is one such area that is expected to witness change due to the VR cameras. Since, the camera has the ability to carry viewers from their homes to places they wish to travel to, it enhances the total experience of the end-users. Documentaries and the growing space of VR journalism using the technology to enhance the storytelling method is also expected to change the way the news and journalism are conducted. However, battery life, proper cooling system for the camera rigs to avoid any kind of overheating , are some issue that need to be taken care of specifically by VR film producers.
The virtual reality camera market may be segmented on the basis of types that include professional level VR camera and consumer level VR camera and on the basis of different level of engagement, namely 360 degree non-3D, 180 degree 3D, 360 degree 3D, 360 degree 3D with limited holographic range and holographic 3D cameras.
Key players in virtual reality camera market are Nikon Corporation, HumanEyes Technologies, Google Inc., Lytro, Inc., NOKIA Inc., Jaunt Inc., Panocam3d.com, Eastman Kodak Co. NetVR Inc, and GoPro, Inc.
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