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Body-Worn Camera Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Body-Worn Camera Market
According to The Business Research Company's, The body-worn camera market size has grown rapidly in recent years. It will grow from $0.82 billion in 2023 to $0.93 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to increasing high-profile incidents, government support and initiatives, rising civil rights concerns, increasing criminal investigations, and evidence collection.
The body-worn camera market size is expected to see rapid growth in the next few years. It will grow to $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to growing public awareness, demand for accountability in law enforcement, rising globalization, growing crime rates, and increasing hands-free recording tools. Major trends in the forecast period include law enforcement technologies, wearable technology, facial recognition, high-resolution cameras, advancements in camera technology, and the integration of artificial intelligence (AI) and advanced analytics.
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Market Drivers and Trends:
Rising demand for adventure tourism is expected to propel the growth of the body-worn camera market going forward. Adventure tourism refers to a type of tourism that involves exploration or travel with a certain degree of risk, requiring special skills and physical exertion. The rising demand for adventure tourism is due to several factors, including the desire for outdoor recreation, the growth of experiential travel, the rise of adventure travel companies, and the desire for unique experiences. Body-worn cameras enhance the adventure tourism experience by capturing unforgettable moments, promoting safety, fostering educational opportunities, and inspiring others to explore the world around them. For instance, in 2023, according to the Adventure Travel Trade Association, a US-based tour operator, the average number of travelers handled by respondents rose by 213% from 1,355 in 2021 to 4,243. Therefore, the rising demand for adventure tourism is driving the body-worn camera market.
Major companies operating in the body-worn camera market are developing innovative products, such as Axon Body Workforce to enhance the functionality and efficiency of these devices. The Axon Body Workforce camera is reliable and unobtrusive for everyday use, with a full-shift battery, secure mounting options, and a lightweight design. For instance, in January 2024, Axon Enterprise Inc., a US-based company that specializes in developing technology and weapons products, launched the Axon Body Workforce, a new generation of body cameras designed to protect frontline workers in retail stores and healthcare facilities. This innovative body camera is aimed at addressing workplace violence affecting frontline workers, providing a solution to enhance safety and security in these environments.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Sony Corporation, Panasonic Corporation, Motorola Solutions Inc., Garmin Ltd., NICE Systems Ltd., Axon Enterprise Inc., GoPro Inc., Hytera Communications Corporation Limited, Safe Fleet Acquisition Corp, Transcend Information Inc., WatchGuard Technologies Inc., CP PLUS International, Safety Vision LLC, Digital Ally Inc., Wireless CCTV LLC, Utility Associates Inc., Diamante Technology Co. Ltd., Veho (Muvi), Pro-Vision Solutions LLC, Reveal Media Ltd., VIEVU LLC, Wrap Technologies Inc., Pinnacle Response Ltd., LensLock Inc, Shenzhen AEE Technology Company, Excelerate Technology Limited, Getac Video Solutions Inc, COBAN Technologies Inc.
Body-Worn Camera Market 2024 Key Insights:
• The body-worn camera market size is expected to see rapid growth in the next few years. It will grow to $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%.
• High Demand From Adventure Tourism Growth In Body-Worn Camera
• Enhance Functionality With Innovative Evidence Management Technology
• North America was the largest region in the body-worn camera market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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