The 360-degree selfie camera clicks a spherical view of the whole area, providing a realistic view of events and places. This camera enables one to take the complete look at the surroundings covering the area of the snapshot. One can easily swipe left, right, up, and down to view the whole image. These 360-degree spherical images have transformed one’s way of clicking pictures. The virtual reality experience that these cameras bring has shown a pronounced change in tourism, wedding celebrations, and film industries. Initially, these cameras were used for surveillance or scientific purposes, but now they are increasingly being attached to smartphones. These cameras are much easier to use and handle as compared to DSLR. Professional photographers can get technical experience with the help of these omnidirectional cameras. More power is required to generate heat in this camera as compared to the regular cameras. And hence, they are equipped with energy-efficient chips.
Market scope and structure analysis:
|Market Size Available for Years||2020–2027|
|Base Year Considered||2019|
|Forecast Units||Value ($US)|
|Segments Covered||Type, Application, Industry Vertical, and Region|
|Regions Covered||North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, Mexico, and Rest of LAMEA)|
|Companies Covered||Samsung, Nikon, Canon, GoPro, Insta360, Xiaomi, 360fly, Ricoh, Sony, Bublcam|
COVID-19 Scenario Analysis:
- As the business impact of COVID-19, the 360 degree selfie camera market is expected to experience a negative growth.
- Earlier, the growth rate of 360 degree cameras was expected to experience a substantial growth but due to the COVID-19 this projection has reversed.
- The major manufacturing countries such as China, Japan, and South Korea have almost stopped the production due to lockdown situation.
- Also there is a decrease in the sales of these cameras due to travel and import export restrictions.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
There are many forces that drive the growth of the global 360-degree selfie camera market. Some of them worth mentioning are its wide range, multiple uses, easy to use features, coast effectiveness, and convenience. There’s a high demand for 360-degree camera among both professional as well as amateur users. The market can be segmented into low, medium, and high based on the price range.
The key drivers are its affordable prices, integration with smartphones, feature to watch 4K and HDR content, and availability to create and share the content made on 360-degree cameras on various social networking sites such as Facebook, YouTube, and Instagram.
There is an increase in the demand for high-resolution recording and faster frame rates required to get high-quality images especially in the media-entertainment and sports verticals, which further induces the need for wider bandwidths.
A significant opportunity for 360-degree cameras can be seen in the automotive sector, where the driver can benefit from these cameras to get a better understanding of the surroundings and overall safety. These cameras can be used as evidence in case of accidents or collisions. Cameras available for vehicles are Falcon Zero F360, MoreFine 3600, and others. The major challenge faced by these cameras is to capture small objects and setups due to the placement of the lenses.
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Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global 360-degree selfie camera industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global 360-degree selfie camera market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global 360-degree selfie camera market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global 360-degree selfie camera market analysis based on competitive intensity and how the competition will take shape in coming years.
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