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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