360° Camera Market Size to be Worth USD 4.8 billion by 2034, Growing at CAGR of 9.6% | Exclusive Report by Transparency Market Research, Inc.

An omnidirectional camera or a 360° camera is a tool that leverages the user to increase the vision across the object in all of its surroundings such that this vision can help the user get a better idea about events occurring in the environment. With the help of different lenses, magnification, and other tools, such cameras can give accurate images of their surroundings.

/EIN News/ -- Wilmington, Delaware, United States, Transparency Market Research, Inc. , July 15, 2024 (GLOBE NEWSWIRE) -- The estimated size of the global 360° camera market (360° 카메라 시장) will reach USD 4.8 billion by 2034, which was recorded at USD 1.8 billion in 2023. This progression in the valuation of the industry is expected to occur at a promising CAGR of 9.6% during the forecasted period.

The proliferation of various end-user industry segments is the foremost driver for the competitive landscape. Subject to the growing use of cameras for the upliftment of the user experience, prospects for the said market are expected to proliferate in the future.

To provide better driving assistance to users while driving and to ensure better safety standards, the use of such cameras can be made. To cater to the driver’s safety, leading manufacturers in the automotive sector are using such cameras, which drives the demand for such cameras in the industry.

The progression of the automobile industry is responsible for the surge in the demand for 360° cameras, thereby creating lucrative opportunities for leading players in the industry. With the elevated technological infrastructure, the possibility for innovation in the industry is growing. As a result, leading manufacturers of the industry are likely to augment product portfolios. Such augmented products help key players provide better facilities to users. As a result, this factor drives the said industry.

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With the spurring innovation, image sensing, recognizing, and image quality are expected to hit a new level. As a result, the user experience can be enhanced via such efforts. Hence, this is another important driver for the global 360° camera market. Integration of cutting-edge tools like artificial intelligence, IoT, and predictive analysis can help the user predict different patterns. This simplifies the user task, surging the popularity of such cameras.

The construction industry is using 360° cameras for detailed inspection of sites. Such an inspection can reduce the threat of loss of any resource. The growth of the construction industry is enormous due to the spurred population and the rate of urbanization. This growing sector drives the demand for the 360° camera market, enabling key manufacturers to expand more in the sector.

With the rising government investments in such ecosystems, the demand for cameras is proliferating in these respective markets. Due to this accelerated demand due to investments, the 360° camera market (360°カメラ市場) will gain more scope to expand across different landscapes.

Key Findings from the Market Report

• The vast landscape is segmented based on different parameters. Based on the category, the wireless segment is expected to gain traction due to the lesser tediousness of the setup.
• Based on the lens type, multi-lens cameras will gain rising popularity due to the growing use of such cameras in VR and AR sets.
• Based on the technology, due to the increasing gaming industry, virtual reality technology will gain the highest traction.
• Based on the end-user, the affordability of different technologies will spur the individual use of cameras.

Regional Profile

• Due to the progress of the gaming industry in North America, the 360° camera market is likely to propel in the region.
• Technological advancements in Europe will spur the scope of innovation in the industry, driving the market.
• With the growing automotive market in Asia-Pacific, the region will create many prospects for the sector.

Competitive Landscape

Mergers, partnerships, collaborations, and acquisitions are some key routes of expansion employed by leading players.

• Allied Vision Technologies GmbH is a key player in producing cameras like ALVIUM G1, ALVIUM G5, and many more.
• FLIR Machine Vision produces products like Teledyne FLIR Hadron 640R, fixed thermal cameras, handheld thermal cameras, and many more.
• IMPERX Inc. is known for automated imaging systems called EIPVR, CCD cameras, and various other image-sensing devices.

Key Players

• Allied Vision Technologies GmbH
• FLIR Machine Vision
• IMPERX, Inc.
• Industrial Video & Control Co.
• JAI
• Jenoptik
• Keyence Corporation
• PixeLINK
• Teledyne DALSA
• The Imaging Source

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Key Developments in the 360° Camera Market

• In April 2024, FLIR Machine Vision expanded its existence by announcing a new digital platform for its products.
• In April 2024, Allied Vision Technologies GmbH strengthened its ties with Avnet Silica. This strategic collaboration helped the business expand its product reach.

Market Segmentation

Category

• Wired
• Wireless

Lens Type

• Single lens
• Dual Lens
• Multi Lens

Technology

• Virtual Reality (VR)
• Augmented Reality (AR)
• Mixed Reality (MR)
• Extended Reality (XR)

Resolution

• VGA (640x480)
• HD (1280x720)
• Full HD (1920x1080)
• 4K (3840x2160)
• Others (8K, etc.)

End Use

• Individual
• Commercial

• Supermarkets & Retail Outlets
• Solar Farms
• Construction Sites
• Airports & Train Stations
• Warehouse and Industrial Site Perimeters
• Commercial and Office Car Parks
• Others (Safety training and simulations, etc.)

• Industrial

• Industrial Manufacturing
• Automotive
• Food & Beverages
• Oil & Gas
• Mining
• Others (Packaging & Printing etc.)

Distribution Channel

• Direct Sales
• Indirect Sales

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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