Is this type of rendering possible?

Dear Team of Unreal
My good friend has been using your program for modelling and architectural work for quite some time now, and has been really loving it.
The other day, when he showed me your program and the renders he made with it (with their quality so high, if they were real, my phone would have made worse pictures) we talked about a possible feature, that we never saw anywhere before, that would be lovely.
It is possible to create panorama and 360 degree pictures, where the camera is in a fixed position, and we wondered, if it was possible to create a program or file type, that allowes the user to see a fixed 3d model and have the camera spin around it in a circle or sphere, just like how while modeling you can do that.
My question is that, is such a render possible and if it is, could it be transported to other devices, like a video, gif or an ordinary jpeg?