Key Points
- Insta360 (Yǐngshí Chuàngxīn 影石创新)‘s A-share IPO highlights the booming panoramic camera market, securing its position as the global leader for six consecutive years with a 67.2% market share in 2023.
- Driven by the surge in content creation and short video formats, the global panoramic camera market is projected to grow from ¥2.51 billion RMB ($348.6 million USD) in 2017 to an estimated ¥7.85 billion RMB ($1.09 billion USD) by 2027 (over 10% CAGR).
- Panoramic cameras capture a full 360 degrees, offering high creative variability and seamless adaptation for various devices, aligning with modern consumer demands for capturing and sharing experiences quickly. Competition is intensifying with new players like DJI (Dàjiāng 大疆) reportedly entering the consumer market.
- Investors are highly optimistic, particularly noting the convergence of imaging tech and Artificial Intelligence (AI), which is expected to drive significant future growth through innovations like 3D imaging, spatial computing, and smart AI image generation.
The panoramic camera industry is officially on fire, and everyone’s taking notice.
With the recent blockbuster A-share market listing of Insta360 (Yǐngshí Chuàngxīn 影石创新), this niche yet powerful segment of the imaging world is squarely in the capital market’s spotlight.
And it’s no wonder why.
Insta360 isn’t just a player; they’re the player, commanding the global panoramic camera market share for an impressive six consecutive years, hitting a staggering 67.2% in 2023.
Want proof of the hype?
Before even hitting the IPO, Insta360 bagged eight rounds of financing.
We’re talking big names like:
- IDG Capital (IDG Zīběn IDG资本)
- Qiming Venture Partners (Qǐmíng Chuàngtóu 启明创投)
- CSC Group (Jīshí Zīběn 基石资本)
- China Merchants Capital (Zhāoshāngjú Zīběn 招商局资本)
- Xunlei (Xùnléi 迅雷)
Content Craze & Market Boom: Why Panoramic Cameras Are So Hot Right Now
So, what’s fueling this inferno?
Two words: content creation.
The demand for fresh, engaging content, especially with the diversification of short video formats, is sending the consumer imaging equipment market into overdrive.
The numbers don’t lie.
Industry data shows the global retail market for panoramic cameras is set to skyrocket from ¥2.51 billion RMB ($348.6 million USD) in 2017 to an estimated ¥7.85 billion RMB ($1.09 billion USD) by 2027.
That’s a compound annual growth rate (CAGR) of over 10%.
This isn’t just growth; it’s a burgeoning blue ocean market, and hardware manufacturers are diving in.
Whispers in the tech corridors (unconfirmed, but juicy!) suggest that drone behemoth DJI (Dàjiāng 大疆) is gearing up to launch its first consumer-grade panoramic camera next month.
The entire panoramic camera ecosystem is buzzing, and investment institutions are decidedly bullish, especially with Artificial Intelligence (AI) poised to unlock even more opportunities.
From Pro Gear to Viral Sensation: The Panoramic Camera Evolution
Let’s rewind a bit. What exactly is a panoramic camera?
Think of it as an intelligent imaging device using panoramic tech to slurp up scenes from every angle – a full 360-degree sphere.
It then cleverly stitches these perspectives together using algorithms to create those mind-bending 360-degree photos or videos.
The journey started back in 2015 when Japanese company Ricoh (Lǐguāng 理光) dropped the first 360-degree panoramic camera, officially kicking off the market.
Back then, especially in China, it was uncharted territory.
Panoramic cameras were:
- Highly niche, mainly for specific professional groups.
- Bulky and expensive.
- Lacking dedicated R&D and manufacturing.
- Facing significant technical hurdles.
But times have changed.
Driven by surging demand in outdoor sports and Virtual Reality (VR) scenarios, panoramic cameras have hit the mainstream.
Why the love?
It’s their ability to capture everything, offer insane creative variability, and seamlessly adapt content for mobile phones and other devices.
Traditional digital cameras? They’re struggling to keep up.
As one consumer electronics securities analyst put it, users today prioritize capturing and sharing life experiences – from real-time outdoor adventures to family moments – and they want to edit and share fast.
With rising disposable incomes and evolving consumer habits, the appetite for emerging imaging tech like panoramic cameras is only set to grow.
Imagine capturing a full 360 degrees – front, back, left, right, up, and down – with no blind spots.
After shooting, you just slide your screen to explore the entire environment.
This “magical” photo-taking has sparked viral trends, like the ‘travel transitions’ on social platforms in 2025, where users leverage Insta360’s “tiny planet” effect to seemingly globe-trot in seconds.
Global Buzz: The Insta360 X5 NYC Frenzy
And this isn’t just a China phenomenon. The global market is equally hyped.
Case in point: April 22nd.
Insta360 launched its latest beast, the Insta360 X5 panoramic camera, at New York’s iconic Grand Central Terminal.
The result? A “queue and rush to buy” scenario.
Videos showed lines snaking several hundred meters long.
The event kicked off at 9 a.m., but die-hards started lining up as early as 5 a.m., with some true fanatics arriving at 3 a.m. just to be first in line. That’s dedication!
New Kings of the Hill: How China’s ‘Intelligent Manufacturing’ Conquered the Globe
The global panoramic imaging market is currently a textbook example of the Matthew effect: the rich get richer, or in this case, the leader extends its lead.
Frost & Sullivan (Fúruòsītè Shālìwén 弗若斯特沙利文)’s latest data confirms Insta360 (Yǐngshí Chuàngxīn 影石创新) isn’t just leading; it’s dominating with a 67.2% market share in 2023.
This marks their sixth straight year at the top.
What about the old guard?
Traditional imaging giants like Japan’s Ricoh (12.4%) and action cam leader GoPro (9.2%) are seeing their market shares squeezed.
Beyond Insta360, Shenzhen, China’s consumer electronics powerhouse, is breeding more fierce competitors in the smart imaging space.
These companies are leveraging cutting-edge tech, diving deep into user needs, and pushing product functionalities to deliver superior gadgets and efficient smart imaging solutions.
Simply put, China’s ‘intelligent manufacturing’ is steadily taking the global crown.
And the competition is heating up.
As mentioned, DJI (Dàjiāng 大疆) is reportedly set to drop its first consumer panoramic camera, the DJI Osmo 360, in July.
DJI’s drones are already a creator favorite for their slick beauty effects and live streaming, making them a natural new entrant in action and panoramic cameras.
Then there’s Seeing Technology (Kàndào Kējì 看到科技), another player focusing on portable panoramic cameras.
They’ve already secured six rounds of financing, backed by names like:
- Alpha Group Entertainment (Àofēi Yúlè 奥飞娱乐)
- Foxconn (Fùshīkāng 富士康)
- Shenzhen SME Financing Guarantee Venture Capital Co., Ltd. (Shēnzhèn Shì Zhōngxiǎodān Chuàngyè Tóuzī Yǒuxiàn Gōngsī 深圳市中小担创业投资有限公司)
- Insta360 (Yǐngshí Chuàngxīn 影石创新): 67.2%
- Ricoh (Lǐguāng 理光): 12.4%
- GoPro: 9.2%
Investors Are All-In: AI Poised to Ignite Explosive Growth in the Panoramic Camera Industry
The growth trajectory is undeniable.
According to Frost & Sullivan, the global panoramic camera market hit ¥5.03 billion RMB ($698.6 million USD) in 2023.
That’s a solid 21.79% year-on-year growth.
And the forecast? It’s expected to reach ¥7.85 billion RMB ($1.09 billion USD) by 2027.
As these cameras further penetrate professional realms like outdoor sports, remote healthcare, and smart cities, the market size is only going to balloon.
Investment gurus are clearly seeing dollar signs, especially with the AI factor.
Ye Guantai (叶冠泰), a partner at Qiming Venture Partners (Qǐmíng Chuàngtóu 启明创投), sees massive future growth for Insta360 (Yǐngshí Chuàngxīn 影石创新) where imaging and AI converge.
He’s particularly excited about:
- 3D imaging
- Spatial computing
- Smart AI image generation
Ye envisions a future where Insta360 provides everyone with a “dedicated AI photographer,” truly freeing up users’ hands and unlocking a wave of new use cases.
Niu Kuiguang (牛奎光), a partner at IDG Capital (IDG Zīběn IDG资本), echoes this optimism.
He pointed out that panoramic cameras were once a “marginal innovation” needing time for market acceptance.
“Insta360 launched a landmark consumer product in 2018,” Niu recalls.
“This market-defining product achieved mass shipments, significantly boosted user reputation, and helped the company hit nearly ¥100 million RMB ($13.9 million USD) in profit that fiscal year. That gave us early investors strong confidence.”
Niu further highlights a new breed of young entrepreneurs.
These founders possess a global perspective and a keen eye for product aesthetics.
When new tech waves like AI roll in, they’re ready to dive deeper than established players.
Their lack of baggage from old experiences, Niu argues, actually fuels unique innovative momentum.
In an era of rapid AI iteration, this innate understanding often translates into more accurate tech judgment – something institutions are watching closely.
The future of the panoramic camera industry looks incredibly bright, and it’s clear that innovation and intelligent technology will continue to drive its exciting evolution.
- 2017: ¥2.51 billion RMB ($348.6 million USD)
- 2023: ¥5.03 billion RMB ($698.6 million USD)
- 2027 (Projected): ¥7.85 billion RMB ($1.09 billion USD)
- CAGR (2017-2027): Over 10%
- Year-on-Year Growth (2022-2023): 21.79%
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