Shashie Pawar

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Panoramic Camera Market: Top 3 Trends Impacting The Industry Expansion Through 2023

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 2020 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.

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