Core Viewpoint - The smart imaging device market is gearing up for a significant competition between two leading Chinese high-tech companies, DJI and Insta360, with their movements closely watched by the market [1]. Group 1: Company Developments - DJI announced the launch of its first 360-degree panoramic camera, Osmo 360, set for July 31, with the slogan "A Inch Sees the Universe" [2]. - DJI has completed its full-category layout in the smart imaging market, covering aerial drones, action cameras, handheld cameras, and panoramic cameras [3]. - Insta360, after four years of preparation, successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on June 11, with a market capitalization of approximately 65.6 billion yuan [6]. Group 2: Market Competition - DJI and Insta360 have a history of competition, with DJI entering the action camera market after GoPro faced challenges, while Insta360 focused on panoramic cameras [9]. - In 2023, Insta360 launched its first action camera, Ace Pro, indicating its expansion into the action camera market [9]. - DJI's Osmo 360 is equipped with a 1-inch CMOS sensor, supporting up to 8K/30fps panoramic video, which theoretically offers better image quality than Insta360's flagship product [11]. Group 3: Market Size and Trends - The global consumer drone market was approximately $4.85 billion in 2023, with DJI holding around 70% market share [21]. - The global handheld smart imaging device market was about 31.5 billion yuan in 2023, with action cameras accounting for over 85% and panoramic cameras for 25% [21]. - The traditional camera market is dominated by Canon, Nikon, and Sony, with stable market conditions persisting for nearly a decade [20]. Group 4: Financial Performance - Insta360 reported revenue of 1.355 billion yuan in Q1 2025, a year-on-year increase of 40.7%, but its net profit decreased by 2.5% [26]. - Analysts predict a compound annual growth rate of 11.8% for the global panoramic camera market from 2023 to 2027, with Insta360 expected to achieve over 30% revenue growth in the next two years [31]. Group 5: Future Outlook - Insta360's entry into the drone market may lead to increased R&D investments, potentially impacting short-term financial performance [27]. - The success of Insta360 in the drone market will depend on its ability to address unmet needs and improve user experience through patented technologies [29]. - DJI is also diversifying its product offerings, with plans to release a sweeping robot, ROMO, on August 6, further exploring cross-application of its technology [32].