Driven by the changing demand for professional and user-generated 360 video content, the current state of VR cameras, spatial audio, and specialized production software will experience dramatic upheaval in 2018, according to a new analysis from Greenlight Insights, the top market research and analyst firm dedicated to the virtual and augmented reality industry.
“The VR cameras and related tools markets are quickly evolving as new competitive offerings enter and gain market share,” says Alexis Macklin, Analyst at Greenlight Insights. “Newcomers like Insta360 and Z Cam are making a big splash in the consumer segment, while custom rigs are hitting home with professional VR filmmakers. Overall, the market for VR cameras and related tools is no longer being driven by a few publicly-traded companies. This is an important and healthy development.”
In its latest VR/AR Research Note, which is set to be released February 15, Greenlight Insights identifies four key drivers that will impact the VR Camera and Software Tools market in 2018 and beyond:
- Early market leaders such as Nokia and GoPro are scaling back or discontinuing their 360-video offerings, while upstarts are gaining traction, quickly moving upmarket, and becoming a competitive threat to industry mainstays.
- The VR opportunity has attracted numerous duplicative and overlapping camera solutions such as 4K resolution, mobile editing, live-streaming, social media publishing, and others. Consolidation of standard features lies ahead, but confusion and fragmentation will dominate in the near term.
- Financing options are increasingly important to the high-end equipment market. Studio buyers currently are opting to rent higher-quality rigs at a premium than purchase equipment that does not meet their specifications.
- Significant innovation in VR video production will occur when studios can leverage data from light field and LiDAR sensors to create more immersive, six degree-of-freedom (6DoF) video content. The standardization of the creation pipeline and reduction in volumetric video data storage will usher a key inflection point for VR video and cause the shift from spherical to volumetric.
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Greenlight Insights is the world’s leader in virtual and augmented market intelligence, and provides information solutions to global technology, entertainment, and marketing professionals to help them make strategic decisions about the future of immersive technology. Visit www.greenlightinsights.com for more information and follow @AskGreenlight on Twitter.