This paper summarized the research status, imaging model, systems calibration, distortion correction, and panoramic expansion of panoramic vision systems, pointed out the existing problems and put forward the prospect of future research. According to the research status of panoramic vision systems, a panoramic vision system with single viewpoint of refraction and reflection is designed. The systems had the characteristics of fast acquisition, low manufacturing cost, fixed single-view imaging, integrated imaging, and automatic switching depth of field. Based on these systems, an improved nonlinear optimization polynomial fitting method is proposed to calibrate the monocular HOVS, and the binocular HOVS is calibrated with the Aruco label. This method not only improves the robustness of the calibration results, but also simplifies the calibration process. Finally, a real-time method of panoramic map of multi-function vehicle based on vcam is proposed.