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 driven by the rise in demand for smart homes, higher investment in infrastructure, and the growing technology growth for raising safety concerns. Apart from this, the growing demands for the affordable camera to meet the needs of the photography industry, and rising digital photography industry. Nonetheless, the factors that impede the expansion of the global panoramic camera market are its limited software support availability, high price than standard IP cameras and poor image quality. These cameras are used for many applications, in particular for area, rail, metro, surveillance, airport terminals, industrial sites, school halls, university campuses, outdoor including and shopping mall security, car parking, and many more.
Global Panoramic Camera Market has been segmented on the basis of type, application and region.
The market was classified by type into the industrial camera and commercial camera.
The market involves traffic control, grid layout, aerial scenery and others dependent on use.
Panoramic camera technology enables the segmentation into single-sensor cameras and multi-sensor cameras. Single sensor camera uses only one image sensor and they are well equipped to track retail stores, hotels, schools and offices indoors. A multi-sensor camera allows for a higher pixel density or resolution for the same area coverage and is ideal for stadiums, schools, parking lots and shopping malls.
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The key players of global panoramic camera market report include Sony Corporation (Japan) , Ricoh Company Ltd. (Japan), Samsung electronics Ltd. (Korea), Nikon Corporation (Japan), Roundshot (Switzerland), Canon Inc. (Japan), Panono GmbH (Spain), D-Link Corporation(Taiwan), Panasonic Corporation (Japan) , Immer Vision, Inc. (Canada) and others.
North America, Asia Pacific, Africa, and the RoW have been geographically studied.
Over the 2016-2022 forecast span North America is predicted to dominate the panoramic camera market. The U.S. is expected to contribute significantly to the global panoramic camera market, owing largely to growing crime in the region. Furthermore, the high adoption of cameras featuring high image quality and low power consumption also fuel the panoramic market in the North America region.
It is predicted that European countries, especially the United Kingdom, Germany and others, will develop at a steady pace mainly due to increasing government measures to ensure public safety, Increasing numbers of stadiums and university campuses in the area often demand high-security solutions, thus boosting the development of the region’s panoramic market.
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