Der Marktanteil von DJI-Panoramakameras wird behauptet, fast die Hälfte auszumachen, doch zwei Berichte geraten in Datenkontroversen.

Recently, a "data mystery" has emerged in the panoramic camera market, adding more fog to the already fiercely competitive consumer - grade imaging track.

Not long ago, the third - party institution, Jiqian Consulting, released a research report on the global action and panoramic camera market in 2025. The report shows that DJI's global revenue share in the action camera field has steadily climbed to 66%, ranking first in the global industry. In the brand - new panoramic camera track, less than three months after the launch of DJI's first product, the Osmo 360, it has captured 43% of the global market share, causing a sudden change in the landscape of track players.

A few days later, a report released by Frost & Sullivan presented a different picture - DJI's share in the panoramic camera field was 17.1%, and the data for action cameras was also "halved". What's even more puzzling is that, according to media reports, after the release of the report, due to reasons such as the so - called "internal data verification" during interviews, it was "taken offline" twice, and so far, there is no download entry on Frost & Sullivan's official channels.

Facing the controversy triggered by the market share data, 36Kr interviewed relevant insiders at DJI. It was revealed that "after seeing the two reports with huge differences, we traced and deduced the data statistical logics of both parties at the first time. Our shipment volume of panoramic cameras in Q3 did exceed 300,000 units. It is understood that Jiqian's report is based on the disclosed data of listed companies, the actual sales data of mainstream e - commerce platforms, and a large amount of social media listening as the information input basis."

To further verify the reliability of the data, we also checked the prospectus of Insta360. According to Insta360's prospectuses for 2024 and the first half of 2024, Insta360's revenue in the second half of 2024 was 1.65 billion yuan (annual sales in 2024 - sales in the first half: 2916.3689 million yuan - 1270.264 million yuan), and the sales volume was approximately 620,000 units (1.65 billion yuan / 2641 yuan per unit), which is basically consistent with the data in Jiqian's report.

In addition, Insta360 also responded externally during a recent earnings conference, stating that "the accuracy, completeness, and authority of some third - party data cannot be verified, and investors are reminded to pay attention to risks."

Behind the data differences between the two reports is a slice of the battle for industry discourse power. When the market enters the "China time", the competition is no longer limited to products and sales volume but extends to the formulation of standards and cognition.

In the action camera field, the long - term competition between DJI and the overseas giant GoPro is a typical case of "hard - core breakthrough". After about six years of technological iteration and market expansion, DJI gradually completed the role transformation from a "challenger" to a "leader".

However, when a company's long - term perseverance breaks through the critical point of quantitative change, the technological and brand potential it releases will far exceed the competition of a single product line and enter the stage of diversified product ecosystem layout. This qualitative change effect is particularly evident in DJI in 2025.

Reviewing DJI's journey in the action camera field, from patiently entering the market to efficiently breaking the situation, we will find that the growth potential of a technology company may not lie in its initial speed but in the acceleration of each "key entry".

Perhaps the answer to this battle for market share has already been written in consumers' cognition and choices.

Behind the "Blitzkrieg"

From the rapid breakthrough of the Osmo 360 and Osmo Nano, it seems like a successful "blitzkrieg" on the surface. However, if we examine the technological breakthrough process behind them, we will find that it is more of a result of long - term accumulation leading to qualitative change. The rapid commercial success of these two products is not an accidental outburst but is rooted in DJI's six - year continuous exploration and technological accumulation in the action camera field.

Osmo 360 Panoramic Camera, Osmo Nano Wearable Camera

The "quick" results seen in the market come from DJI's "slow" and steady approach in product iteration. The lightweight form and stable performance presented by the Osmo 360 and Nano did not happen overnight but matured gradually along a technological path of continuous trial - and - error and evolution. This also witnesses DJI's transformation from a "challenger" in the action camera market to a "definer".

Looking back at its development trajectory, a clear path from market entry to market definition can be seen.

In 2019, the first - generation Osmo Action product solved the core pain points of users in shooting scenarios with its front - facing color screen and stabilization algorithm, successfully opening a gap in the market. At that time, DJI was already thinking about a more future - oriented question: What should a truly simple and easy - to - use action camera look like?

The problems included how to break through the bottlenecks of existing action cameras, how to achieve dual - screens, better waterproof performance, and a more lightweight volume technically, and how to attract more high - quality users and lower the threshold for different user groups in terms of product ecosystem and market pricing.

The subsequent generations of products were continuous responses to this question. In 2021, the Osmo Action 2 did not follow the industry's traditional "integrated" design logic but adopted a magnetic snap - on architecture, enabling the quick disassembly and assembly of the main unit and accessories. This modular design greatly expanded the application scenarios and playability of action cameras.

However, although the highly innovative and breakthrough configuration design was very popular among users, limited by the hardware specifications of the Action 2 at that time, the overheating problem of the high - specification 4K120 could not be solved, resulting in continuous negative feedback. This made DJI decide to proceed steadily after painful reflection.

This setback became a crucial turning point. In the subsequent Osmo Action 3 and 4, DJI adopted a more pragmatic strategy and solved the pain point of stability during long - term recording. DJI did not give up innovation due to its double - edged nature but chose to find the best balance between "disruptive form" and "core user experience". In 2023, after the release of the Osmo Action 4, DJI finally achieved the same market share as GoPro. Two years later, the appearance of the Osmo Action 5 Pro further transformed the accumulated internal product iteration mechanism, that is, the ability to quickly and accurately identify user needs into product features. It also interconnected the accessories, quick - disassembly, and audio ecosystems. Since then, DJI has completed a magnificent counter - attack in the action camera field.

Osmo Action 5 Pro

Looking back at DJI's six - year breakthrough history, a principle can be found: True innovation often does not lie in showing off single - point technologies but in the systematic capabilities formed during continuous iteration. Not chasing short - term returns and daring to dig deep for long - term vision are signs of the maturity of a technology company's ecosystem. Therefore, what DJI has built in this process is not just a single - device product line but a complete, efficient, and low - threshold creative system, which is an ecological barrier that is more difficult to replicate than simply stacking parameters.

The "Compound Interest" of the Ecosystem and Integrated Experience

The systematic maturity has driven DJI to extend its product layout to more diverse scenarios. Today, whether it is the ultra - lightweight Osmo Nano or the panoramic Osmo 360 that breaks traditional perspectives, their success in the market no longer depends on the advantages of a single product but is rooted in the support of an entire ecosystem behind them.

The Osmo Nano can be regarded as a mature transformation of DJI's thinking about the magnetic architecture. It inherits the convenient concept of the Action 2 but is transformed into a "pocket professional camera" without any obvious weaknesses through its ultra - lightweight design, an imaging core comparable to that of flagship action cameras, and thoroughly optimized battery life and heat dissipation. In addition, four years after the "idealistic" innovation of the Action 2, DJI users finally welcomed a higher - level magnetic architecture experience. The snaps are firm, and problems such as overheating have been significantly improved.

Meanwhile, the Osmo 360 can share the batteries and accessories of the Osmo Action series, and the Osmo Nano re - uses the core sensor of the flagship product. From the UI interaction between devices to the operation logic of the editing software DJI Mimo and DJI Studio, DJI has built a highly unified usage and creative experience. Users can operate different devices under the same ecosystem to complete the entire process from shooting to final output.

It can be seen that DJI's product - defining ability has evolved from solving the pain points of a single scenario to a universality beyond scenarios. Achieving professional - level experience and cross - product - line collaboration in a compact space tests its ecosystem integration ability.

This kind of ecosystem collaboration not only enhances the user experience but also reduces R & D and supply - chain costs through economies of scale. Relying on the manufacturing capabilities and supply - chain advantages established in fields such as drones, DJI has gradually distanced itself from its peers in terms of customizing key components and production efficiency.

Furthermore, the cost advantage has been transformed into "user dividends", enabling more people to access innovative technologies at a lower threshold. And the wide - spread user recognition continuously feeds back into product iteration and category expansion, forming a positive cycle.

In essence, ecosystem collaboration has become a technological lever for DJI to expand its ability in in - depth scenarios, allowing its product layout to resonate in their respective "battlefields". It amplifies the advantages of a single product into a moat for the entire brand.

Breaking the Situation through "Redefinition"

After officially entering the panoramic camera field, DJI also launched the Osmo 360 with a 1 - inch sensor, directly addressing the balance problem between volume, power consumption, and image quality in traditional panoramic cameras.

From a technical logic perspective, the root cause is that the industry generally uses rectangular CMOS sensors designed for mobile phones to capture circular image fields, resulting in the waste of nearly a quarter of the sensor area. Before DJI's entry, this was not an unnoticed problem, but when panoramic cameras were still a niche category, the upstream supply chain lacked the motivation to customize core components for niche categories.

For supply - chain manufacturers, if they need to set up a separate production line for this, they first need to ensure a stable customer base and large - scale production demand. In this game at the back end of the market, DJI did not compromise but chose to push the supply chain one step further and proposed a solution of customizing square CMOS sensors. This decision fundamentally changed the technological path: the square CMOS allows the circular image field to fit perfectly inside, increasing the sensor utilization rate by 25% and enabling it to output native 8K panoramic videos directly without up - sampling. This can fundamentally solve the pain points of users in the traditional panoramic camera industry.

In addition, the Osmo 360 introduces the 10 - bit D - LogM color mode and seamlessly migrates the mature image stitching algorithm and intelligent tracking technology from the drone field to a handheld device, effectively solving the pain points of panoramic video in terms of natural stitching and editing efficiency. While achieving high performance, the product lowers the threshold for professional - level panoramic creation with a price of 2,999 yuan.

Osmo360

The market performance of the Osmo 360 quickly confirmed the success of this technological route. Looking at GoPro, which has a relatively single product line, it lost $432 million in 2024, and the downward trend continued in 2025.

However, DJI's ecosystem expansion, which involves both technological and aesthetic upgrades and the transfer of capabilities, did not stop there. The deeper logic is that through the integrated innovation of "sky" and "ground" technologies, it accurately captures and defines new market demands.

After the high - speed growth of the consumer - grade drone market, it is facing the dual challenges of homogeneous user experience and stricter regulatory requirements. Users are eager for more convenient, safer, and more socially - shareable creative tools. In this context, combining the immersive recording ability of panoramic cameras with the unique perspective of drones has become an inevitable technological direction.

Following the success of the Osmo 360, it is reported that DJI's first panoramic drone, the Avata 360, which was planned in 2022, has been spotted in multiple foreign media spy photos: This product has a similar fully - enclosed propeller arm design as the Avata series accumulated in the drone product line and the DJI O4 image transmission system; at the same time, it will most likely re - use the fisheye lens design