A 360° camera captures its image by utilizing one, or more, lenses. Image captured this way is not yet full blown 360° video, to get to a full 360 result the different “pieces” of image need to be “Stitched” together. This process is called “Video Stitching”.
In this process the parts of image are being “molded” together using special sofware (and sufficient calculation power), the end result is full 360° video or image.
The need to perform this kind of action on video and photo material is rapidly decreasing, “2nd generation” 360 Camera’s (like Samsung Gear 360) execute the process on board and “on the fly”.