The 360-degree camera market is expected to grow around 20% per annum compound from 2023 to 2033.

The 360-degree camera market is expected to grow around 20% per annum compound from 2023 to 2033.

360 degree camera market

The 360° Cameras Market is estimated to generate significant revenue by the end of 2033 by growing at a CAGR of approximately 20% during the forecast period i.e. 2023 – 2033

New York City, NY, US, November 9, 2022 / EINPresswire.com/ – Research Nester has published a report titled “360° Cameras Market: Global Demand Analysis and Opportunity Forecast 2033” which provides a detailed overview of the global 360° Cameras Market in terms of market segmentation By resolution, connection type, camera type, portrait, application, and region.

Moreover, for in-depth analysis, the report includes industry growth indicators, restraints, and supply and demand risks, along with a detailed discussion of current and future market trends associated with the market growth.

The global 360° camera market is expected to grow at a CAGR of approximately 20% during the forecast period i.e. 2023-2033. The market is vertically segmented into media and entertainment, consumer, military and defense, travel and tourism, automotive, commercial, healthcare and more. Of these, the media and entertainment sector is expected to generate the largest revenue by the end of 2033 due to the acceleration of the media and entertainment (M&E) industry. According to estimates, the Indian M&E industry is expected to grow between 50-70 billion US dollars by 2030.

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It is estimated that the global 360-degree camera market will generate significant revenue by the end of 2033, up from modest revenue in 2022. Increasing automobile production, growing preference for cameras for sports activities, rising incidences of security breaches, and rapid expansion of the commercial and healthcare sectors along with Along with rising personal disposable income are some of the key factors that are expected to drive the growth of the market during the forecast period.

Geographically, the global 360° Cameras market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these, the North American market is expected to generate the largest revenue by the end of 2033 supported by the growing number of VR users. For example, more than 50 million VR users in America have consumed VR content in 2020. Moreover, the growing demand for VR headsets and advanced technology infrastructure is expected to drive the regional market during the forecast period.

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The research is global in nature and covers detailed market analysis in North America (US and Canada) and Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands, Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific), Middle East & Africa (Israel, GCC) [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, the rest of the Middle East and Africa). In addition, the analysis comprising market size, annual growth, opportunity analysis, competitive study of market players, investment opportunities, demand, future forecast, etc. are also covered and presented in the research report.

Increase automatic vehicle sales to drive market growth

Global sales of automatic cars increased by 61 million units from 2020 to 65 million units in 2021.

360-degree cameras are rapidly growing in popularity in the automotive industry. In addition, 360-degree cameras can help drivers understand their surroundings, detect obstacles, and enhance vehicle safety. The LCD screen in the car displays all angles of the images captured by the 360-degree cameras. With the increasing popularity of 360-degree cameras as part of the automobile and its increasing sales, the market for 360-degree cameras is expected to grow during the forecast period.

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However, the high cost of 360° cameras are expected to act as major restraints for the growth of the global 360° cameras market during the forecast period.

This report also presents the current competitive scenario of some of the major players in the global 360° camera market which includes the Samsung Electronics Co. Ltd. and Canon India Pvt Ltd. and LG Electronics and Nikon Corp. and GoPro Inc. and 360fly Inc, Bubl Technology Ltd. , Spherical Inc. RICOH COMPANY, LTD, and Insta360. The profiling includes basic corporate information that includes an overview of the business, products and services, key financial data, and recent news and developments. Overall, the report depicts a detailed overview of the Global 360 Degree Cameras Market which will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

Do you have any questions or specific requirements? Ask our expert: https://www.researchnester.com/ask-the-analyst/rep-id-385

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