The difference between binocular and panoramic vision is that binocular vision has an overlap, whereas panoramic vision does not. The binocular overlap is said to be at 60 degrees in each eye. Animals with binocular vision can see only about 160 to 190 degrees, while those with panoramic vision can see up to 360 degrees.
In the animal world, most creatures with binocular vision are predators. This means their eyes are positioned in front of their heads, allowing them to use both eyes and focus on what's in front of them. Humans, eagles, tigers, polar bears and lions all have binocular vision. Binocular vision maximizes the ability to see in leafy environments, such as jungles and forests, thus allowing these animals to spot prey through the clutter of their environments.
Almost all prey, on the other hand, have panoramic vision, or eyes on the sides of the head that allow them to see in front and behind. A chameleon, for example has a panoramic view, and can literally see everything around its body. Goats can see up to 340 degrees. Rabbits, cows and horses also have panoramic vision. Panoramic vision is a boon to prey animals, who need to be aware of predators to survive.