- 27 June 2019 16:17
Impressive CAGR of 24.3% | Consistent Revenue Growth Projected for 360 Degree Panoramic Camera Market from 2019 to 2028
New York, Jun 27, 2019: The 360-degree panoramic camera is used to detect incidents and monitor activities in large areas, make better area management, track the movement of people, to stop theft or fraud activity by identifying correctly, helps to police or investigators for better investigation by footage, and have various image sensors for security and situational awareness. It is best for indoor and outdoor observation area applications in which these cameras are basically suited for many applications, such as installations of city surveillance like security for critical infrastructure, industrial sites, and monitoring public squares, video surveillance at railway & metro stations, and airport terminals, video surveillance of school halls, & university campuses and indoors & outdoor shopping mall security with the car parking. Just single camera plays different role so the system installation costs are kept low.
Growth of 360-degree panoramic camera market is driven by significant factors such as increasing urbanization as well as industrialization along with rising disposable income coupled with growing demand for cost-effective cameras with more resolution and highly dynamic range, and increasing growth in computerized, and digital photography market. Additional features such as increasing focus on equipment upgrades, and technological innovation to improve quality by reducing cost, rising awareness about the necessity for safety and security at corporate house as well as public places are some other factors driving the growth of 360-degree panoramic camera market.
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Comparing by conventional IP cameras, 360-degree panoramic camera is costly and more expensive in nature, and availability of inadequate software support services are major factors that hamper the growth of potential market. In addition, low quality images of panoramic 360-degree camera limit the market growth.
Moreover, lower power consumption, and high adoption of 360-degree panoramic camera introduced with high image quality drives the market growth and create productive opportunities for the 360-degree panoramic camera market.
360-degree panoramic camera product type is categorised by into commercial camera product type and industrial camera product type. Whereas, 360-degree panoramic camera application are aerial scenery, traffic monitoring, grid layout, and others.
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One of the leading player of the target market is North America owing to higher number of manufacturers of camera are presents in this region. U.S. is majorly contribute owing to increasing crime in this country. In Europe region, specially Germany, U.K. countries among others are grow at a steady pace owing to increasing government initiatives to provide security at public and commercial places. Europe and Japan regions mainly focused on manufacturing industries. In Asia-Pacific region countries specially India, China, and Japan have highest significant growth of the potential market owing to increasing number of stadiums and university campuses in the region is also demanding high security solutions, highly adoption of 360-degree panoramic camera in entertainment and gaming industry. In addition, taking security precautions by government against terrorist attacks driving the growth of 360-degree panoramic camera market in the region.
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