360-degree Camera Market Size, Share, Growth Analysis, By Connectivity Type(Wired, and Wireless.), By Resolution(High Definition (HD), and Ultra-high Definition (UHD).), By Camera Type(Single, and Professional.), By Vertical(Media & Entertainment, Consumer, Military & Défense, Travel & Tourism), By Application(Traffic-Monitoring, Grid Layout, and Aerial Scenery.), By Region - Industry Forecast 2024-2031

360-degree camera market was valued at USD 1.21 billion in 2022 and is expected to rise from USD 1.51 billion in 2023 to reach a valuation of USD 8.76 billion by the end of 2031 at a CAGR of 24.60% during the forecast period (2024-2031).

The 360-degree market is still in its budding stage so there is high scope of growth with the entry of new players. This is further projected to intensify the overall market competition. Merger and acquisition strategies are highly adopted by players along with increase in investments in research and development. The ability to live stream 4K videos to popular platforms using Android or iOS devices is provided by a number of manufacturers. 'Samsung Electronics Co., Ltd.', 'Ricoh Company, Ltd.', 'GoPro, Inc.', 'Nikon Corporation', '360fly Inc.', 'Eastman Kodak Company', 'LG Electronics Inc.', 'Insta360', 'Bubl Technology Inc.', 'Humaneyes Technologies Ltd.', 'Giroptic, Inc.', 'Detu', 'Garmin Ltd.', 'Panono GmbH', 'Insta 360', 'Vuze Camera', 'Nokia Corporation', 'ALLie Camera', 'SJCAM Limited', 'Kodak Pixpro SP360'

The event can be recorded for viewers using a 360-degree camera. Since 360-degree cameras are now reasonably priced, users can easily purchase them to get a complete view of their surroundings. The integration of these cameras with mobile devices and rising interest in watching real-time 4k and HDR content are driving up demand for 360-degree cameras.

The market for 360-degree cameras is expanding as a result of the rising acceptance of VR headsets and the appeal of augmented and virtual reality content. The market is expanding because of the increasing demand for 360-degree films and photos for surveillance and security applications in public spaces. Consumers all around the world are keen to buy these cameras, which has contributed to the market's steady growth in recent years. These cameras have gained popularity among end-use sectors thanks to their user-friendliness, ability to share content across numerous platforms, and high-resolution 360-degree films, among other appealing characteristics. Manufacturers are releasing goods that can be easily shared on social media sites and are compatible with a variety of mobile devices, which is increasing demand. The addition of high-quality image sensors and expandable memory to 360-degree cameras makes them even more alluring. The increasing use of these cameras in autonomous vehicles by various well-known manufacturers is anticipated to boost the market for 360-degree cameras in a significant and profitable way. The market is also being helped by the expanding usage of these cameras in cars to provide smart views.

North America accounted for the largest share in 2022. The availability of a sizable number of producers making standalone cameras and rigs, combined with the willingness of customers to embrace technologically advanced products, are the main factors promoting this regional market. The rise of this region is also being fuelled by the expansion of VR gaming and the rising popularity of VR headsets in the United States and other countries in the region. This region is further anticipated to develop a faster growth rate in the coming years due to the high acceptance rate of innovative technologies and ongoing technological advancements in the consumer electronics market.