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Global Bike Camera Market 2024 Competitive Landscape, Industry Analysis, Segmentation And Forecast To 2033 | Major Players AreSony Corporation, Garmin Ltd., Shimano Inc., Nikon Corporation, SZ DJI Technology Co Ltd.
Bike Camera Market
The Business Research Company presents an extensive market research report on the Bike Camera Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The bike camera market size has grown strongly in recent years. It will grow from $1.86 billion in 2023 to $2.03 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increasing popularity of cycling, rising concerns for cyclist safety, adventure and sports cycling trends, community and social media engagement, legal and insurance considerations..
The bike camera market size is expected to see strong growth in the next few years. It will grow to $2.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to integration with smart cycling accessories, rise in bike commuting and urban cycling, influence of cycling events and competitions, environmental advocacy and bike tourism.. Major trends in the forecast period include emergence of 360-degree cameras for comprehensive coverage, integration with navigation and gps systems, rise of subscription-based cloud services, focus on rugged and weather-resistant designs, incorporation of voice control features..
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Key Market Players:
Sony Corporation, Garmin Ltd., Shimano Inc., Nikon Corporation, SZ DJI Technology Co Ltd. (Dajiang Innovations), GoPro Inc., Coleman Company Inc, TomTom N.V., Polaroid Corporation, Sena Technologies Inc., SJCAM Ltd., Mio (MiTAC Europe Limited), RevZilla Motorsports LLC, Insta360 (Arashi Vision Inc.), Cycliq Products Pty. Ltd., Veho Tech Inc., Contour LLC, SVP, Drift Innovation Ltd, MOHOC Inc., Runcam, Sound Around Inc, Campark, Dargon Touch, YI Technology Inc., INNOVV Tech Co. Ltd. are prominent players in the industry.
Market Drivers:
The growing popularity of bike commuting is expected to propel the growth of the bike camera market going forward. Bike commuting refers to using a bicycle as the primary mode of transportation for traveling to and from work or other destinations, promoting a healthier and more sustainable urban mobility option. The rise in bike commuting encourages safety-conscious cyclists to invest in bike cameras for documenting rides and protecting themselves in case of accidents or incidents, leading to increased bike camera sales. For instance, in May 2023, according to Cyclist's Touring Club Company Ltd., a UK-based charitable membership organization, approximately 315,000 individuals (7% of those 16 or older) used bicycles for transportation in 2021, compared to 227,000 (5%) in 2019. Further, approximately 10% of the population (5.7 million people) cycled a few times or once or twice during 2021, an increase from 8% in 2020. Therefore, the growing popularity of bike commuting will drive the growth of the bike camera market.
Market Segments Include:
1) By Type: 4K, 1080P, 720P, Other Types
2) By Sales Channel: Online, Offline
3) By Application: Personal, Commercial
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https://www.thebusinessresearchcompany.com/report/bike-camera-global-market-report
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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