Furthermore, the rising usage of immersive ads by organizations to showcase a product, store, or property and create a unique brand image, particularly on social media platforms, is acting as another significant growth-inducing factor.The growing preferences for virtual and augmented reality (AR and VR) in video games and similar forms of interactive entertainment solutions are primarily driving the 360-degree camera market.
Request a Free PDF Sample Copy for more detailed market insights: These observations will be integrated into the report. We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. Consequently, 360-degree camera models find widespread applications across several sectors, including media and entertainment, defense, tourism, automotive, healthcare, etc. They can create panoramic images or videos in real-time and are being increasingly utilized for conducting indoor and outdoor surveillance, monitoring suspicious activities in a large area, tracking the movement of people, improving area management, etc. 360-degree camera models are equipped with dual fisheye lenses and have at least a 180-degree field of view placed on either side of their body. They are available in wired, wireless, high definition, and ultra-high-definition variants. Looking forward, IMARC Group expects the market to reach US$ 3,446.7 Million by 2027, exhibiting a growth rate (CAGR) of 26.3% during 2022-2027.Ī 360-degree camera is a name given to omnidirectional cameras that are small and portable and enable users to capture a 360-degree field view in the horizontal plane. The global 360-degree camera market size reached US$ 812.5 Million in 2021.