Press release
South Korea Underwater Camera Market Size To Be Driven By Grow At A CAGR Of 12.4 % In The Forecast Period Of 2023-2028
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): USD 336.20 million
Forecast CAGR (2023-2028): 12.4%
Forecast Market Size (2028): USD 675.60 million
Post Covid-19, more people are exploring underwater photography and videography as their hobby and even pursuing a career in this field. Thus, the demand for sturdy and premium underwater cameras arises. With the growing influence of show business in South Korea, the use of underwater cameras to shoot beneath the sea is very common. Thus, the South Korea underwater camera market sector is projected to expand and diversify in the near future.
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The low-light image capturing features of these cameras help Navy officials track underwater threats and combat them. The Ultra-HD feature is used by researchers and is an added advantage as it helps to deliver detailed visuals of life underwater. Identification of shipwrecks and seabed mapping has further added to bolster this market.
The thriving e-commerce sector is one of the responsible factors for the growth of South Korea underwater camera market. The online segment has an edge over the offline market, as it provides its consumers a wide range of choices and ample discounts. The market is also foreseeing a rise in demand due to the development of camera rental services, which waives off the need to invest in a personal underwater camera.
South Korea Underwater Camera Industry Definition and Major Segments
An underwater camera is a type of camera having the ability to record underwater. This device is commonly used for shooting marine documentaries or for doing research work like monitoring the health of underwater species. Such cameras have macro or wide-angle lens, so that, the subject is captured clearly, without any difficulty.
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On the basis of type, the market is segmented into:
Digital Single Lens Reflex (DSLR)
Compact
Mirrorless
Based on application, the market is classified into:
Individual
Commercial
Breakup by type
Media and Entertainment
Underwater Sports
Commercial Photography
Underwater Research
Others
On the basis of distribution channels, the market is bifurcated into:
Online
Offline
South Korea Underwater Camera Market Trends
With the demand for marine-documentaries and underwater photoshoots on the rise, there has been increasing usage of underwater cameras in the entertainment industry. The well-being of the marine animals and unknown mysteries of the sea can be explored by deep-sea biologists using underwater cameras. The growing trend of tourism and travelling has also opened doors for the expansion of the South Korea underwater camera market.
Engagement of youth in recreational activities like scuba-diving, underwater vlogging and biodiversity photography has increased significantly, generating a huge market for underwater cameras. Social Media platforms like YouTube and TikTok further promote engaging content on marine life, propelling the market to expand. For capturing the movements of athletes in water-sports like swimming, underwater cameras are used.
The live telecasts of marine-life shoots on channels like Discovery and Animal Planet is encouraging the younger generation to explore the underwater life and capture the coral reefs and underwater creatures. South Korea underwater camera market players have launched new and improvised versions of these cameras, which are more budget friendly, compact and lightweight, making them travel-friendly and easy to carry. This can benefit travel vloggers, who shoot all year round, and thus require compact and sturdy, all-weather cameras to deal with environmental changes like rain and snow.
Key Market Players
The major players in the south korea underwater camera market report are:
Canon Inc.
Nikon Corporation
Panasonic Corporation
Sony Corporation
FUJIFILM Corporation
GoPro, Inc.
GVS Co., Ltd
Others
The report studies the latest updates in the market, along with their impact across the market. It also analyses 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.
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