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Pocket Video Camera Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends
Pocket Video Camera Global Market Report 2024
According to The Business Research Company's, The pocket video camera market size has grown strongly in recent years. It will grow from $3.44 billion in 2023 to $3.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to social media trends, price reductions, the rise of vlogging, travel and adventure trends, and consumer electronics convergence.
The pocket video camera market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to AI (aritificial intelligence) integration, AR/VR integration, 5G connectivity, environmental sustainability, health and fitness trends, remote work, and education. Major trends in the forecast period include remote work evolution, sustainability focus, digital health and wellness, e-commerce expansion, metaverse exploration.
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Market Drivers and Trends:
The growing utilization of social media is expected to propel the growth of the pocket video camera market going forward. Social media refers to online platforms and websites that allow users to create and share content, interact with others, and participate in virtual communities. Social media utilization is increasing due to factors such as growing internet access, the proliferation of smartphones, and the desire for connectivity. The rising use of social media leverages pocket video cameras for diverse content creation, live streaming, influencer marketing, community engagement, user-generated advertising, and trend participation. For instance, in March 2024, according to Made in CA, a Canada-based online magazine, 33.1 million Canadians used social media as of the beginning of 2023, and the majority of them had at least one account. In Canada, the penetration rate of social media is 91.3%, and the global penetration rate of social media is 59%. Therefore, the growing utilization of social media is driving the growth of the pocket video camera market.
Major companies operating in the pocket video camera market are focusing on product innovations, such as introducing palm-sized digital cameras, to cater to the growing demand for compact and convenient recording solutions. Palm-sized digital cameras are compact recording devices designed for portability and convenience in the realm of pocket video cameras. For instance, in February 2024, Fujifilm India Private Limited, an India-based imaging technology company, introduced INSTAX Pal, the stylish palm-sized digital camera, to the Indian market. This remarkable addition to the renowned INSTAX series of instant cameras and smartphone printers provides users with the ability to capture spontaneous moments anytime, anywhere. The camera has a regular mode that is triggered via the shutter button on the rear panel, and it uses a wide-angle lens to capture interesting photos from elevated or uncommon angles. With one-handed operation, users may shoot rich, dynamic shots with complicated backdrops, which is generally difficult for smartphones. Additionally, the remote mode enables seamless connectivity between the camera and a smartphone via Bluetooth, leveraging the dedicated INSTAX Pal App. This functionality allows users to remotely capture selfies or group photos and instantly view the results as they are taken.
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, Cisco Systems Inc., Canon Inc., FUJIFILM Holdings Corporation, Garmin Ltd., Nikon Corporation, Eastman Kodak Company, GoPro Inc., Blackmagic Design Pty Ltd., HTC Corporation, SZ DJI Technology Co. Ltd., Vivitar Corporation, SJCAM Limited, Rylo Inc., Insta360, ThiEYE, AEE Technology Inc., Kinemax Technology Co. Ltd., Mokacam Technology Co. Ltd.
Pocket Video Camera Market 2024 Key Insights:
• The pocket video camera market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
• Social Media's Impact On Pocket Video Camera Market Growth
• Key Players Innovations Redefining Pocket Video Camera Market Growth
• North America was the largest region in the pocket video 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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