The global wearable camera market is anticipated to account for USD 3.8 Billion by 2023 by registering a promising CAGR over the forecast period i.e. 2016-2023.
The global wearable camera market is segmented into application such as industrial, healthcare, sports, corporate enterprises, public safety, defense and others. Among these segments, sports segment is expected to dominate the overall wearable camera market during the forecast period. Increasing popularity of sports and adventures activities such as sky diving, mountain bike ride coupled with rising trend of recording is expected to drive the growth of wearable camera market. On the other hand, public safety segment is expected to create substantial demand for wearable camera in the upcoming years.
Global wearable camera market is expected to register a significant CAGR over the forecast period. Moreover, the global wearable camera market was valued at USD 3.8 Billion in 2016. Increasing penetration of wearable camera in adventure tourism industry is expected to drive the growth of Wearable Camera Market during the forecast period. Further, rising trend of photo & video sharing on social media sites are anticipated to fuel the growth of wearable camera market.
The head mounted wearable camera segment by product is estimated to register a noteworthy CAGR during the forecast period. Moreover, head mounted wearable camera segment is expected to account for the largest share of revenue across the globe. Rising utilization of head mounted wearable camera in sports for live recording purposes is likely to foster the growth of wearable camera market. Further, advancement in head wearable cameras such as 3RDi is anticipated to retain the growth of head mounted wearable camera market.
Rising Adoption among End users
Increasing adoption among various end users such as healthcare, sports, public safety, defense and others is anticipated to foster the growth of wearable camera market. Moreover, rising popularity of wearable cameras in sports such as cricket and Formula 1 are expected to increase the market size of wearable camera over the forecast period.
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Technological Advancement & Enhancement in Wearable Cameras
Technological advancement associated with wearable cameras such as Wi-Fi connectivity, increased memory storage, GPS integration are expected to intensify the growth of wearable camera market during the forecast period. Moreover, continuous technological innovation and expansion of product portfolio is expected to substantially increase the demand for wearable cameras. Although, high cost of wearable cameras and poor battery life are some of the major factors that are likely to hamper the growth of the wearable camera market in the near future.
The report titled “Wearable Camera Market : Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the global wearable camera market in terms of market segmentation by product, by application and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global wearable camera market which includes company profiling of Digital Ally, Garmin Ltd., GoPro, Inc., Narrative, Pinnacle Response Ltd., Vievu LLC, Axon Enterprise, Inc, Drift Innovation Ltd., JVCKenwood Corporation, Xiaomi Inc. and Sony Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global wearable camera market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: EIN Presswire