According to the latest market research study released by Technavio, the global 360-degree camera market is expected to grow at a CAGR of close to 35% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global 360-degree camera market based on technology adopter:
Global 360-degree camera market share by technology adopter 2015
|
Innovators |
50.47% |
|
Early Adopters |
30.27% |
|
Early Majority |
19.26% |
Source: Technavio
Global 360-degree camera market by innovators
The global 360-degree camera market by innovators was valued at almost $103 million in 2015 and is predicted to grow at around CAGR of 2% by 2020. Innovators are venturesome people that are obsessed with innovation. These people have varied interests in innovating new products and equipment the encourages them to participate in research and development activities to launch new products. The market segment includes technical experts that have in-depth knowledge of the technology. The US is the largest country in terms of sales of 360-degree cameras.
“The innovators in the US are investing in the development of 360-degree cameras for VR applications which in turn will lead to the growth of this market segment. The first 2.5% of the population in China that invested in the technology for applications in security are also categorized as innovators. It is estimated that 360-degree cameras will be used for security and surveillance in China during the forecast period,” says Ujjwal P Doshi, a lead analyst at Technavio for research on consumer electronics.
Global 360-degree camera market by early adopters
The global 360-degree camera market by early adopters was valued at close to $62 million in 2015 and is expected to grow at a CAGR of more than 20% by 2020. This market segment consists of the integrated part of the local community that includes opinion leaders and business leaders. These people provide advice and information about different innovations to the general population and serve as role models. These adopters have the knowledge about the product and have the ability to make and pass on investment-related decisions wisely.
Global 360-degree camera market by early majority
The global 360-degree camera market by the early majority was valued at around $39 million in 2015 and is expected to grow at a CAGR of almost 75% by 2020. This market segment consists of people who adopt new technologies just before innovations become mainstream. These adopters are part of the average society and include tech-savvy consumers and small businesses. The segment accounts for one-third of the total individuals in the market that has reached saturation. The segment accounts for one-third of the total individuals in the market that has reached saturation.
The top leading vendors operating in the global 360-degree camera market are:
- LG Electronics
- Nikon
- GoPro
- Samsung Electronics
Other prominent vendors in the market include 360fly, Bublcam, Facebook, GIROPTIC, IC Real Tech, Immersive Media Company, Eastman Kodak, LucidCam, Nokia, Ricoh, and Sphericam.
A more detailed analysis is available in the Technavio report titled, ‘Global 360-Degree Camera Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Digital Impression Standalone Scanners Market 2016-2020
- Global Digital Camera Market 2016-2020
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