The global wearable camera market has been projected to ride on a splendid double-digit CAGR over the period 2017 to 2025, according to a new research study recently added to Market Research Reports Search Engine’s (MRRSE) vast repository. The report, titled “Wearable Camera Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025”, covers all major technologies and trends impacting the market expansion throughout the forecast period. Revenues from the global wearable camera market are estimated to surpass US$ 8 Bn by 2025-end.
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Increased Adoption of Wearable Cameras in Healthcare Sector to Complement Market Growth
According to the report, several factors are influencing expansion of the global wearable camera market, such as surging popularity of social networking websites where people parade their pictures, increasing interests in adventure tourism and sports, and soaring number of internet users. Apart from these factors, the market’s growth is also being complemented by increased adoption of wearable cameras in the healthcare sector. Compact sizes, simple mechanisms, 360 degree technology, and superior design of wearable cameras make them ideally suitable for recording surgeries or carrying out dental treatments.
Various types of wearable cameras are available in the global market, ranging from low-resolution compact cameras to full-HD meant for professionals. Availability of wide range of products, coupled with rapid technology advancements that lead toward more sophisticated development has been propelling demand for wearable cameras worldwide. However, surging popularity of smartphones will continue to be a major factor hindering adoption of wearable cameras in the upcoming years.
Online Sales Channel to Outpace Offline Sales Channel in the Market
On the basis of sales channel, sales in online channel will continue to outpace that in offline channel over the forecast period. This can be mainly attributed to increasing penetration of the internet, along with the booming ecommerce sector.
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The report anticipates North America to remain the largest market for wearable cameras, in terms of revenues. Growing interest in adventure sports and expanding tourism sector in the region will drive demand for wearable cameras. In addition, the market in North America will also be influenced by stiff competition between small and big players, which in turn has led toward development of advanced products equipped with enhanced features such as GPS connectivity, water-resistance, internal storage, and high-resolution recording. Players in North America are providing products at competitive prices for boosting their sales.
Global Wearable Camera Market likely to Witness Foray of New Entrants in the Upcoming Years
The report offers key insights on the global wearable camera’s competitive landscape, positioning major market participants in terms of key recent developments and presence across various regions included in the report. Presence of numerous players, international as well as regional, has made the market’s nature to be highly fragmented. The market is likely to witness a foray of new entrants, which in turn will intensify the competition.
Leading players in the market are shifting their focus toward development of innovative products comprising better quality image capturing capability and unique features. For example, Xiaomi introduced a new wearable camera in 2016, with 360 degree and GPS technology, which delivers an 85-degree wide vertical angle view. Key market players profiled in the report include Vievu LLC, Contour, LLC, Rollei GmbH, Axon Enterprise Inc., Pinnacle Response Ltd., Narrative AB, Sony Corporation, Xiaomi, Garmin Ltd., and GoPro Inc.
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