360-Degree Camera Market to Witness Huge Growth by 2024 as VR Use Increases

The 360-degree camera market is expected to grow in double digits, according Pleasure-Seeker, a leading digital research and advisory company for Fortune 500 clients. Based on latest research report, they expect the 360-degree camera market to grow by $1.6 billion during the next four years.

Uses for 360-Degree Cameras

Not everyone needs a 360-degree camera. Some are mere toys for experimentation which has come and gone its course. However, there are some fields in the virtual reality that are going to stay and grow, for example:

1. The Online Gambling Industry

One of the difficulties of online casinos is in matching the excitement experienced sitting or standing next to each other, shoulder to shoulder while playing roulette, blackjack, or craps. Doing so in a real casino is immersive and captivating.

Using 360-degree cameras, online casinos can capture real-life action as the camera sees a roulette ball spinning and skipping across the wheel, almost as if the gambler were in the ball.

2. The Entertainment Industry

Virtual Reality animations and games have risen exponentially in the last few years. Early users of games using virtual reality technology began as far back as 2014. However, for a while, there was a definite hold back as consumers started to increasingly resist paying $400 for virtual reality headsets that were heavy and difficult to wear.

According to PleasureSeeker, there was an inflection point the adaption rate and virtual reality gaming made up between 8 and 10 percent of the market for 360-degree cameras in 2019. This trend is expected to continue and grow to between 15 to 17 percent within the next four years.

3. The Adult Industry

The global virtual reality adult sites industry is expected to exceed more than $1 billion by 2024. As virtual reality headsets have become lighter and easier to use, and as high-end virtual cameras have gotten much better, adult virtual reality industry has become one of the fastest growing areas on the virtual reality.

Since there is a vast demand for this type of content, several adult industry companies have decided that entering the VR market is now worth the extra cost and have announced their plans to immediately expand into the virtual and augmented reality markets.

The Future of 360-Degree Cameras and VR Headsets

People have been touting VR technology in education for quite a while. It’s envisioned that medical students, for example, will practice procedures virtually in doing things such as Lasik surgery, brain surgery, heart surgery, and others.

So far, this has been just a dream, as there are no medical schools or other institutions that publicly declare them to be adapting VR reality. However, as VR headsets become better and more essential for everyone, the VR industry could experience gains even further than what is anticipated in growth.

The future possibilities for 360-degree cameras and VR headsets are limitless. Trainees could be taught how to fix complicated automotive procedures and practice welding virtually. The tourism industry could replicate the museums and national landmarks and can people can get the visiting experience virtually. There are exciting developments ahead on 360-degree cameras market during the next years.

Pleasure-Seeker sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

About the Company

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source: pleasure-seeker