LONDON–(BUSINESS WIRE)–The demand for 360-degree cameras is on the rise as the popularity of virtual reality and the demand for virtual reality headsets increases globally. 360-degree cameras are essential for creating realistic scenes, videos, and images for virtual reality video games and applications. Virtual reality games, according to Infiniti Research is expected to account for 12% of the global gaming market by 2020; this growth will propel the demand for 360-degree cameras as well.
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Growing Popularity of 360-Degree Virtual Reality
The demand from video game players for realistic and immersive virtual reality games requires the use of 360-degree cameras in order to be satisfactorily met. 360-degree cameras are used to capture photos and videos for virtual reality video games and other virtual reality applications. Unlike traditional cameras, 360-degree cameras automatically stitch images and videos together to create seamless visuals that users can access via virtual reality headsets. 360-degree cameras are easy to use, making it accessible and convenient for game and application developers to adopt them and use them for development and production.
Virtual reality and virtual reality headsets are also increasingly being used in the medical, aviation, and military sectors to train students and employees and introduce new procedures and practices in a safe, risk-free environment. Additionally, 360-degree cameras are becoming popular in the real estate industry in India and other countries, where real estate websites are mimicking virtual reality experiences via online galleries and listings to show a comprehensive view of a property without the need to physically visit it. These cameras provide virtual reality users with a realistic and immersive visual experience.
Various Applications for Innovative Technology
According to Infiniti Research, the 360-degree camera market is expected to reach USD 908.3 million and is expected to ship 651 thousand units by 2020. 360-degree cameras are emerging and innovative technology, and the consumers who are adopting them are not limited to technological experts and industry professionals. A growing number of individual users have begun adopting 360-degree cameras for personal use. For vendors to remain competitive, they must fully understand the scope of possible applications for 360-degree cameras as well as the potential and how best to market to and reach particular consumer groups.
Virtual reality is still an emerging and evolving field. As virtual reality continues to become more advanced, market intelligence is essential for understanding the changing role and requirements that 360-degree cameras will have in this field. 360-degree cameras will also have a great number of applications outside of virtual reality in the near future as photography and technology undergo change to meet consumer demands and technological trends. Due to the fast pace of this industry, a Japanese multinational imaging and electronics company – approached Infiniti Research to assess the market and competitive dynamics to understand the marketability of their products in India. In just six weeks, the client was able to leverage the solutions provided from Infiniti Research and identify potential customers in the real estate industry who would pay for their products and services.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
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