Market Synopsis
As per the analysis by Market Research Future Reports (MRF), the global panoramic camera market is estimated to value USD 36 billion, with a CAGR of 31% during the review period from 2016 to 2022.
The global Panoramic Camera market is majorly influenced by the increase in demand for smart homes, higher investment in infrastructure, and the increasing technology development for raising safety concerns. Apart from this, the increasing demand for the affordable camera to meet the needs of the photography market and increasing digital photography market. However, the factors obstructing the expansion of the global panoramic camera market is its limited availability of software support, high price than the regular IP cameras, and low image quality. These cameras are used for several applications, particularly for surveillance in cities, railway, metro, airport terminals, industrial sites, school halls, university campuses, outdoor including car parking, and shopping mall security, and many more. Moreover, 360˚ photography, along with virtual reality, which is a segment of the panoramic camera, has propelled from the last few years. The established organizations have been investing an enormous amount for advancing the virtual reality. With the large exposure to virtual reality headsets and the development of platforms for distributing and sharing, the content is likely to propel the demand of panoramic camera during the review period.
Key Players
The forefront players of the global panoramic camera market are Immer Vision, Inc. (Canada), Samsung electronics Ltd. (Korea), Nikon Corporation (Japan), Ricoh Company Ltd. (Japan), Canon Inc. (Japan), Panono GmbH (Spain), Roundshot (Switzerland), Panasonic Corporation (Japan), Sony Corporation (Japan), D-Link Corporation(Taiwan), and others.
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Market Segmentation
The global panoramic camera market can be segregated based on application, type, technology, and region.
On the basis of application, the global Panoramic Camera Market can be divided into aerial scenery, traffic monitoring, grid layout, and others.
On the basis of type, the global panoramic camera market can be divided into commercial camera and industrial cameras.
On the basis of technology, the global panoramic camera market can be segregated into multi-sensor cameras and single-sensor cameras.
On the basis of region, the global panoramic camera market can be segregated into North America, Asia Pacific, Europe, and the Rest of the World (RoW).
Regional Analysis
The geographical analysis of North America, Asia Pacific, Europe, and the RoW has been performed.
Among all, the North American market is estimated to lead the panoramic camera market during the review period from 2016 to 2022. The US is likely to make a significant contribution owing to the rising crime in the region. Moreover, the increased adoption of cameras possessing the characteristics of low power consumption and high image quality is propelling the market in the North American region.
The APAC region consists of the fastest-growing nations like India, Japan, and China. The region is likely to expand at the highest CAGR during the forecast period from 2016 to 2022. The major factor of the expansion is due to the increased growth in the market of surveillance, and the rising concern of the government against the terrorist attacks in the region.
The European nations like Germany, UK, and among few others are estimated to expand at a moderate growth owing to the increased initiatives taken by the government to offer security to their citizens, increasing the number of university campuses and an increasing number of stadiums. The factors all together play a significant role in the expansion of the market in the region.
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