-- Market Overview
As per the newly published report by Market Research Future (MRFR), the global waterproof camera market is expected to grow at a rapid pace over the forecast period between 2017 and 2023. The global market valuation is slated to reach USD 10.4 billion by the end of the forecast period. The market is further calculated to garner a projected CAGR of 18.5% over the same timeline.
Individuals or groups who trek or hike often encounter situations where their cameras are vulnerable to water. Hence, in order to tackle the issue, waterproof cameras are being increasingly used. The camera boasts the ability to click and capture a moment, irrespective of the weather condition. The booming travel industry is expected to considerably push the global waterproof market towards a positive direction.
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Industry Trend
July 2019, the largest manufacturer of cameras in the world, Canon, announced its plans of funding one of its latest innovations through crowdfunding site Indiegogo. The company aims at making the first action camera named Ivy Rec, which is a tiny shockproof and waterproof device, and can take stills as well as videos.
Market Segmentation
The global Waterproof Camera Market is segmented in terms of range, type, and applications.
• By applications, the market includes travel & tourism, media & entertainment, and security & surveillance. In the media & entertainment industry, waterproof cameras are used for shooting underwater scenes for TV shows and movies. In the security & surveillance sector, waterproof cameras find its use in water-themed amusement parks and swimming pools. This ensures safety for the people who are not well-versed with swimming and also enables protection in amusement parks to kids. The travel and tourism industry is expanding at a rapid pace, thereby increasing the demand for waterproof cameras among tourists who are unwilling to compromise with travel due to weather conditions.
• By range, the market segments into 60-80 m, 10-30 m, and 80 m & above.
• By type, the market comprises normal waterproof cameras and disposable waterproof cameras. The disposable waterproof cameras are comparatively cheaper and have limited functional span. However, these cameras are used for various fun activities like snorkeling as it can take pictures from within 33 feet deep.
Key Players
The prominent players in the market of Waterproof Camera market are – Fujufilm (Japan), Nikon (Japan), Go-Pro (U.S.), Canon (Japan), Kodak (U.S.), Honeywell International Inc. (U.S.), Panasonic Corporation (Japan), Robert Bosch Gmbh (Germany), FLIR Systems (U.S.), Olympus (Japan) among others.
Regional Analysis
The regional segmentation of the global waterproof camera market is done in the key regions of Europe, Asia Pacific, North America, and the rest of the world (RoW).
The global waterproof camera market is spearheaded by North America with the highest share percentage to its name. The regional market holds 40% of the global share and is expected to grow strongly in the coming years. The reason behind the growth of the market in this region is the thriving travel & tourism industry. Add to this, the presence of countries like Canada and the United States of America (USA) are contributing significantly to the overall growth of the regional market.
The European region stands next in the global waterproof camera market. Although behind North America, the region holds a massive share portion in the global market. The market is experiencing considerable success in terms of growth due to the booming tourism industry therein. Globally, the highest revenue generated in Europe is in France, which makes the country one of the most important regional markets. Additionally, due to the burgeoning popularity of social media platforms, tourists are posting pictures of them underwater or in rivers. This has immensely pushed the demand of waterproof camera in this region.
Lastly, the Asia Pacific regional market is experiencing a healthy growth period and is expected to continue doing the same in the forthcoming years. The Asia Pacific regional market valuation is expected to reach USD 2 billion by the end of the forecast period.
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Intended Audience
• Camera Manufacturers and Suppliers
• Distributors
• Waterproof Technology Solution Providers
• Research firms
• Consultancy firms
• Semiconductor Manufacturing Companies
• Stakeholders
• End-user sectors
• Technology Investors
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Release ID: 88897412
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