Press release
Global Waterproof Camera Market Size To Grow At A CAGR Of 12.8% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Waterproof Camera Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 12.8%
The growing popularity for underwater photography is driving the demand for waterproof cameras. These cameras are equipped with a wide range which enables the image capturing of significant portion of an area. These cameras have a low requirement of any external gear and are water-resistant enabling their use in oceans, pools, beaches, lakes, and ponds, among others. The increasing demand for waterproof cameras among tech enthusiasts, professional photographers, students, travellers, and vloggers, among others, is adding to the waterproof camera market growth.
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The thriving media and entertainment sector across the emerging economies is playing a pivotal role in the market by escalating the sale of waterproof camera to generate underwater content. Over the forecast period, waterproof cameras are expected to gain traction on educational entertainment platforms by providing information about oceans and seas along with visuals.
The increasing emphasis on security of scuba divers and oceanographers are expected to augment the market for waterproof cameras in the forecast period. The thriving online segment is a crucial market driver which is fuelling the sale of waterproof cameras with diverse features and price ranges, providing enhanced buying experience to the consumers. Further, the rising disposable income and rapid urbanisation are infusing greater brand awareness, leading to an escalation in the waterproof camera market.
Waterproof Camera Industry Definition and Major Segments
Waterproof camera, also known as underwater camera, is defined as an image capturing device which can take photos and visuals inside water. These cameras are completely sealed with 100% locking mechanisms which do not allow water to penetrate. Waterproof cameras are manufactured differently and can come in varying depth ratings.
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Based on type, the market is segmented into:
• Digital Single Lens Reflex (DSLR)
• Action Camera
• Mirrorless
• Compact
• Others
On the basis of application, the market is bifurcated into:
• Personal Use
• Commercial Use
By distribution channels, the market is divided into:
• Offline
• Online
On the basis of region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Waterproof Camera Market Trends
The key trends in the global waterproof camera market include the increasing demand for waterproof cameras for kids. This can be attributed to the fact that these cameras provide the ability to be used anywhere, are budget friendly, low risk of breaking, enable instant memories, are lightweight, and long-lasting. The increasing tech awareness among children, owing to the greater exposure to gadgets are further fuelling the demand for waterproof cameras.
Heavy presence of millennials and working adults on social media platforms such as Facebook, Twitter, and Instagram, among others, is another crucial trend in the waterproof camera market. High quality pictures along with engaging content produced on social media can not only gain viewers but can also become a mode of passive income. Technological upgradations in waterproof cameras, enhancing picture quality and customisability, are anticipated to bolster the competition between the leading manufacturers, leading to an increase in investments towards product innovations.
In geographical terms, North America accounts for a significant share in the market, driven by the advanced digital infrastructure across strong economies such as the United States and Canada. The increasing sea exploration activities across the region is further generating the demand for waterproof cameras.
Key Market Players
The major players in the waterproof camera market report are:
• Canon Inc.
• Nikon Corporation
• Sony Electronics Inc.
• FUJIFILM Corporation
• Olympus Corporation
• Panasonic Corporation
• GoPro, Inc.
• Ricoh Imaging Company, Ltd
• Leica Camera AG
• Akasotech
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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