Market Highlights
The waterproof camera market is growing rapidly. High development in the field of technology and heavy investment in the development of new product by the key players is driving the global market whereas the major challenges identified in the market are high cost and rising smartphones market. For the purpose of this study, the global Waterproof Camera Market has been segmented on the basis of type, range, application and region.
On the basis of type, normal waterproof camera is dominating the market with more than 60% of market share and is expected to grow with 20% of compound annual growth rate during the year 2017 to 2023 whereas on the basis of range, demand for 10-30m waterproof cameras are high and the market of 10-30m waterproof camera is expected to grow with 20% of CAGR. On the basis of application, the travel and tourism industry is dominating the waterproof camera market with more than 20% of market share. Government initiative around the world to promote the tourism industry is playing a key role in the growth of waterproof camera market. On the basis of regions, North America is dominating the waterproof camera market whereas Asia-Pacific has emerged as fastest growing market with 23% of compound annual growth rate.
The global Waterproof Camera market is expected to grow at USD 10.4 billion by the end of year 2023 with 18.5% CAGR during forecast period 2017-2023.
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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.
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.
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.
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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