Global Underwater Camera Market 2017-2021
About Underwater Camera
Underwater cameras are used to take photos and shoot videos of underwater sports and activities. Regular cameras are not suitable for underwater photography and videos as their ICs have limited protection and are not designed for extreme conditions such as water or snow. Underwater cameras are compact, lightweight, designed for rugged conditions, and work efficiently in an industrial environment. They can be worn by a person under water. These cameras are used to take high-speed and high-quality images underwater.
Technavio’s analysts forecast the global underwater camera market to grow at a CAGR of 19.82% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global underwater camera market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of underwater cameras, excluding cameras that cannot be submerged in water.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Underwater Camera Market 2017-2021
Technavio recognizes the following companies as the key players in the global underwater camera market: Canon, Nikon, Panasonic, and Sony.
Other Prominent Vendors in the market are: Brinno, Drift Innovation, Fujifilm, Garmin International, GoPro, Olympus, Ricoh, Rollei, Samsung Electronics, and Toshiba.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is bundle packaging. Underwater cameras are bundled with a variety of accessories such as mounts, casing, and lenses. This strategy is adopted to make products and accessories more affordable for the middle-class population. Bundled offers are cost effective as consumers do not need to invest separately in accessories. A large number of users refrain from buying accessories separately. The bundle packaging strategy helps to increase sales of accessories and cameras.”
According to the report, one of the major drivers for this market is popularity of social networking sites. The increase in social media activities is one of the major drivers for the sales of underwater cameras. In 2015, Facebook in 2015 had 1.5 billion monthly active users and Twitter had 300 million monthly active users. Over a billion unique users visit YouTube every month. GooglePlus has around 120 million active users monthly, and there are more than 300 million people on Instagram. The demand for underwater cameras is increasing as people are keen to share photos and videos with their friends through popular social networking sites.
Further, the report states that one of the major factors hindering the growth of this market is underwater cameras are vulnerable to damage. The setup of an underwater camera is fragile, which makes it vulnerable to damage due to heavy usage. Low-cost underwater digital cameras are usually made of plastic due to which the cameras are prone to shocks when dropped. An underwater camera has a bulky design to protect it from shock and to protect ICs from being exposed to water. Its bulkiness hinders its usability and minimizes control.
Canon, Nikon, Panasonic, Sony, Brinno, Drift Innovation, Fujifilm, Garmin International, GoPro, Olympus, Ricoh, Rollei, Samsung Electronics, Toshiba.