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 Covid 19 Analysis on 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 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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The prominent players in 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.
The Waterproof Camera Market is segmented on the basis of application, range, and types.
The various applications of waterproof cameras include media & entertainment, travel & tourism, and security & surveillance. In media & entertainment, waterproof cameras are used to shoot underwater scenes in movies and TV shows. Whereas, in security and surveillance, these are used in water-themed amusement parks as well as swimming pools for ensuring that people who cannot swim or have restricted swimming skills do not drown in the water. Of course, the travel and tourism industry is expanding at a tremendous pace, which is increasing the product demand amongst the tourists who want to capture the view of every scenic beauty of nature without worrying about the weather.
Range-wise, the market is segmented into 10-30 m, 30-60 m, 60-80 m, and 80 m & above.
Type-dependent segments in the waterproof camera market are disposable waterproof cameras and normal waterproof cameras. The disposable underwater cameras are relatively cheaper, have a limited functioning span and are used for fun activities such as snorkeling. These can take pictures within 33 feet depth.
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).
Leading the pack in the global waterproof camera market is the region of North America that has amassed 40% share of the global market. The reasons behind this strong growth include high disposable income as well as the thriving travel & tourism industries. Moreover, countries in North America such as the United States of America (USA) and Canada are the biggest contributors to regional market growth.
Following suit is the region of Europe, which has established itself as the biggest market for waterproof cameras. The market is flourishing in the region, backed by the stronghold of the tourism industry in the region. Europe attracts almost 100 million tourists every year. As per a survey, the highest revenue from tourism is recorded in France, making the country the most important market in the region. Also, owing to the popular trend of sharing pictures on social media, a number of tourists choose posting pictures taken in rivers or underwater on social media. This is where a waterproof camera comes into play, which is a must buy for such tourists. Not to be left behind, Asia Pacific is noting a healthy growth rate in the waterproof camera market, with the estimation of USD 2 BN by the end of the forecast period.
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TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.1 Introduction 9
1.2 Scope Of The Study 9
1.2.1 Research Objective 9
1.2.2 Assumption 10
1.2.3 Limitation 10
1.3 Market Structure 10
1.3.1 Global Waterproof Camera Market Structure 10
2 RESEARCH METHODOLOGY
2.1 Research Process 11
2.2 Primary Research 12
2.3 Secondary Research 12
2.4 Market Size Estimation 12
2.5 Forecast Model 13
3 MARKET DYNAMICS
3.1 Introduction 14
3.2 Market Drivers 14
3.2.1 Growing Travel Industry 14
3.2.2 High Disposable Income 15
3.2.3 Rising Social Networking Demand 16
3.3 Market Challenges 16
3.3.1 High Development In Field Of Smartphones 16
3.3.2 Cost 16
3.4 Market Opportunities 17
3.4.1 Rising Trend Of 360-Degree Cameras 17
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