With 6.9% CAGR, Mobile Gimbal Market Growth to Surpass USD 951.6 Million by 2031

According to a new report published by Allied Market Research, titled, "Mobile Gimbal Market," The mobile gimbal market was valued at $490.12 million in 2021, and is estimated to reach $951.6 million by 2031, growing at a CAGR of 6.9% from 2022 to 2031.

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A gimbal is a pivoting support that allows an object to rotate around an axis. It can be mechanical or motorized, and it is utilized in stabilization systems to give camera operators the freedom to capture without shaking the camera.

Over the past few decades, the worldwide entertainment and media sector has experienced enormous expansion. The surge can be ascribed to the uptick in the creation of various types of video content for social media, television, and the big screen. Due to features like quality, several modes, filters, and others provided by mobile manufacturers, mobile phones are employed in the entertainment business. The media and entertainment sector, for example, is growing. According to a forecast by the International Trade Administration, the U.S. media and entertainment (M&E) industry will be the largest in the world in 2020, with a market value of $660 billion (of the $2 trillion total). The huge size of the media and entertainment industry coupled with the rising usage of mobile phones in the industry is expected to boost the mobile gimbal market size.

Since gimbals enable vloggers to record more steady and clear videos to upload on their channels so they can offer a decent video and draw in more viewers, the unexpected increase in vloggers is predicted to boost the growth of the mobile gimbal market. As more people chose to turn to vlogging as a career during COVID-19 because they had lost their jobs and had nothing to do, there has been an increase in the number of daily vloggers. Over 44% of internet users watch vlogs every single month, claims a vlogging pro article. Because of the vast audience, more individuals are turning to vlogging, which is projected to increase demand for mobile gimbals.

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Mobile gimbal market growth may be hampered by smartphone manufacturers' integrated camera stabilization since many smartphones already have built-in motion stabilization features. Optical image stabilization (OIS), which lessens blurriness in photos and videos caused by erratic motion, is frequently employed by smartphone cameras. (EIS) Another method for mitigating hand tremors that cause disturbing video shakes during playback is electronic picture stabilization. Numerous smartphone applications have also been created to deal with blurry photographs. The development of the gimbal market may be hindered by the range of less expensive alternatives to gimbals.

The mobile gimbal market is segmented into stabilization type, price point, distribution channel, and region. By stabilization type, the market is bifurcated into 3-Axis Stabilization and 2-Axis Stabilization. By price point, the market is classified into a premium, mid-range, and low/economic. By distribution channel, the market is bifurcated into offline channels and online channels. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of stabilization type, the mobile gimbal market is further bifurcated into 3-Axis Stabilization and 2-Axis Stabilization. The two-axis segment dominated the mobile gimbals market owing to its lightweight, longer-lasting battery, and cost-convenience. The two-axis gimbal is more suitable for the person who is new to videography and is looking for something to practice because humans have better control on lateral (left and right) hand movements. The segment is expected to witness higher growth owing to the rise in the number of content creators.

On the basis of price-point, the mobile gimbal market is further segmented into premium, mid-range, and low/economic. The low/economic segment dominated the global mobile gimbal market and is expected to retain its dominance during the mobile gimbal market forecast period. The mobile gimbals from this segment are expected to have great growth opportunities mainly in developing economies such as China, India, and Brazil. These developing nations are characterized by the rising number of vloggers, and content creators coupled with rapid urbanization and rising disposable income. Moreover, the trend of content creation among the youth of developing nations will further boost the growth of the mobile gimbal industry.

On the basis of distribution channels, the mobile gimbal market is categorized into offline and online distribution channels. The offline segment is further divided into hypermarkets, convenience stores, and mobile stores whereas the online segment is further segmented into direct and indirect distribution. The online segment is projected to witness the highest growth during the forecast. The online sales channel has increased consumer reach owing to which it has evolved as a key source of revenue for many companies. Consumers are becoming aware of the many purchase patterns that exist in society as technology advances and internet services become more widely available. The technology attracts millennials and generation Z and is expected to influence the buying pattern of products.

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For the mobile gimbal market analysis, on the basis of region, the market is further segmented into North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, India, Japan, Australia, New Zealand, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and the rest of LAMEA). North America is one of the largest consumer goods markets in the world that comprises the U.S., Canada, and Mexico. It is a mature region where consumers have high purchasing power. The consumers in this region focus more on the quality of the products and are somewhat less price sensitive than the consumers in the Asia-Pacific. The mobile and mobile accessories market is rapidly maturing owing to the high level of ownership of smartphones and their accessories. The demand for mobile gimbals in the current scenario is highly influenced by a rise in the number of small filmmakers and content creators in this region.

The key leading players operating in this market include Glidecam Industries, Inc., Gudsen Technology Co., Ltd., Flyfilms, Shape, Letus Corporation, Ikan Corporation, Tilta Inc., Ningbo Eimage Studio Equipment Co., Ltd., SZ DJI Technology Co., Ltd., and Rhino.

Key findings of the study

According to the mobile gimbal market demand, by stabilization type, the two-axis segment was the highest revenue contributor to the market and is estimated to reach $575.5 million by 2031, with a CAGR of 6.7%.

By price-point, the mid-range segment accounted for the highest global mobile gimbal market share and is estimated to reach $351.8 million by 2031, with a CAGR of 6.6%.

By distribution channel, the offline segment was the highest revenue contributor to the market.

According to the mobile gimbal market trends,region-wise North America was the highest revenue contributor to the global mobile gimbal market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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