Market Analysis
The waterproof camera market will touch USD 10.4 billion at a whopping 18.5% CAGR between the forecast period 2017- 2023, states the recent Market Research Future (MRFR) analysis. Waterproof cameras, simply put, are cameras that offer the option of capturing photos or videos in any weather irrespective of the place. Normal waterproof cameras and disposal waterproof cameras are the two types of waterproof cameras that come in a various range, such as 80m and above, 60-80m, 30-60m, and 10-30m. Owing to its alluring features and multiple perks, waterproof cameras have wide applications in travel and tourism, security and surveillance, and media and entertainment, and other end use industries.
Various factors are propelling the waterproof camera market growth. According to the recent MRFR report, such factors include the booming travel and tourism industry, growing inclination of travelers towards water sports and adventure, focus of industries for products with lower prices, technological advances and developments in the field of cameras, demand for consumer electronics, the growing popularity of waterproof cameras among tourists and travelers, growing popularity in developing regions, the growing popularity of broadcasting channels and marine tourism, heavy investments to develop new products, high disposable income, rise in social media users, and increasing internet penetration.
On the contrary, high product cost and the ongoing COVID-19 impact may limit the global waterproof camera market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global waterproof camera market based on types, range, and application.
By application, the global waterproof camera market is segmented into travel and tourism, security and surveillance, and media and entertainment.
By range, the global waterproof camera market is segmented into 80m and above, 60-80m, 30-60m, and 10-30m.
By type, the global waterproof camera market is segmented into normal waterproof cameras and disposal waterproof cameras.
Key Players
Key contenders profiled in the global waterproof camera market report include Olympus (Japan), FLIR Systems (U.S.), Robert Bosch Gmbh (Germany), Panasonic Corporation (Japan), Honeywell International Inc. (U.S.), Kodak (U.S.), Canon (Japan), Go-Pro (U.S.), Nikon (Japan), and Fujufilm (Japan). Industry players have incorporated several strategies to stay at the forefront and also cater to the consumers' burgeoning needs comprising of strategic alliances, geographic expansions, contracts, new product development, and new product launches, mergers and acquisitions, extensive research and development activities, partnerships, joint ventures, collaborations, and others.
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Regional Analysis
By region, the waterproof camera market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). In North America, the waterproof camera market will have a maximum share over the forecast period. The high disposable income of consumers in Canada and the US is adding to the global waterproof camera market growth in the region. Canada and the US have the utmost share in the market.
In Europe, the waterproof camera market will have the second-largest share over the forecast period. The booming travel and tourism industry, a large number of tourists coming every year, and trend to share travel photos on social media are adding to the global waterproof camera market growth in the region. In Europe, waterproof camera revenue is the maximum in France for tourists finding it thrilling to share photos in underwater or river on social media.
In the APAC, the waterproof camera market is predicted to have healthy growth over the forecast period, and in the RoW is predicted to have sound growth over the forecast period.
