Global Wearable Camera Market 2017-2021
About Wearable Camera
Wearable cameras are worn on the body parts such as head, ear, and eye. Thus, users do not need to hold them by hands to record events.
Technavio’s analysts forecast the global wearable camera market to grow at a CAGR of 16.86% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global wearable camera market for 2017-2021. To calculate the market size, the report considers the revenue generated through sales of wearable cameras along with their respective mounts or straps which are used to wear them on the body.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Wearable Camera Market 2017-2021
Technavio recognizes the following companies as the key players in the global wearable camera market: Drift, Garmin, iON, Rollei, and Sony.
Other Prominent Vendors in the market are: BRAUN PHOTO TECHNIK, Brinno, Chilli Technology, Delkin Devices, Hitachi, iSAW, JVC, Liquid Image, Looxcie, Mobius ActionCam, Pivothead, Pyle Audio, Toshiba, VIOFO, and VIEVU.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing implementation of product bundling strategy. Vendors bundle cameras with a variety of accessories for consumers. This is economical for consumers as they do not need to spend separately on accessories. This marketing strategy has increased the sales of accessories alongside wearable cameras and is being used by companies such as Canon and GoPro, which manufacture both cameras and accessories.”
According to the report, one of the major drivers for this market is growing popularity of social networking sites. The increase in social media activities is one of the major drivers for the sales of wearable cameras. In 2016, Facebook had 1.8 billion and Twitter had 350 million monthly active users. Over a billion unique users visit YouTube every month. Google Plus has around 150 million active users monthly, and there are more than 350 million people on Instagram. The demand for wearable cameras is increasing as people are keen to share photos and videos with their friends through social networking sites. With the growing number of options available for social networking, the demand for these cameras is expected to increase during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is rising popularity of smartphones. The sales of mobile devices, such as smartphones and tablets, have increased because they have become more affordable for consumers. Consumer electronics manufacturers are selling smartphones that are integrated with high-end features at affordable prices. These smartphones are equipped with high-end cameras that act as easy replacements for wearable cameras. Such phones attract the middle-class population, especially in countries like China, India, and other developing countries.
Drift, Garmin, iON, Rollei, Sony, BRAUN PHOTO TECHNIK, Brinno, Chilli Technology, Delkin Devices, Hitachi, iSAW, JVC, Liquid Image, Looxcie, Mobius ActionCam, Pivothead, Pyle Audio, Toshiba, VIOFO, and VIEVU.