Westford, USA, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Global wearable camera market is growing rapidly and there are a number of reasons for this. First, wearable cameras offer a level of convenience that can be incredibly appealing to consumers. They can be worn discretely and capture footage without having to worry about bothering anyone. Additionally, wearable cameras provide an extra layer of security for users as they can keep an eye on their surroundings at all times.
As per SkyQuest’s latest findings, 21.5 million wearable camera units were sold in 2021 and the number is expected to surpass 30 million by 2025 in the global wearable camera market. This can be attributed to easy availability, declining prices, and increasing sales through online channel.
GoPro is the largest players in the global wearable camera market in the world, and its products are highly popular among consumers for a reason. Aside from its great technical performance, GoPro also offers a wide range of accessories and mounts to make capturing video and photos easy and fun. In 2021, GoPro's market share was 26.4%.
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There are a number of different types of wearable cameras available on the market and each offer its own unique advantages and disadvantages. As per SkyQuest analysis, consumers are increasingly buying mini portable camera since they are very small and lightweight, making them easy to carry around. It has also been found in a study that not all consumers like to prefer them as they don't offer the same level of features as some other types of cameras.
With the rapidly growing influence of social media, action camera and dash cam are witnessing a surging demand in the wearable camera market. Action cameras are particularly popular with sports enthusiasts, as they make great video footage of adventures outdoors. Dash cams are widely used by drivers to capture footage of traffic accidents, ensuring that they have proof if something goes wrong.
SkyQuest has published a report on global wearable camera market. The report provides a detailed market analysis, market segmentation, company profiles, SWOT analysis, value chain analysis, pricing analysis, supply chain, consumer behavior, and competitive landscape. The report would help the market participant in gaining valuable insights about market forecast, market dynamics, growth and marketing strategies of competitors, among other.
By 2028, 543 Million People to Own Wearable Camera, Says SkyQuest
Wearable cameras are gaining in popularity, and they are expected to become more popular in the coming years. As more people become aware of their right to privacy and security, they are also becoming more likely to invest in wearable cameras. This is because wearable cameras can be used for both personal and professional purposes.
According to a study by SkyQuest on wearable camera market, there are currently more than 410 million wearable camera owners worldwide and the number would grow to over 543 million by the year 2028. This is a 150% increase from 2016. The growth of wearable cameras is not only due to the advancements in technology, but also because people are more aware of their security and privacy rights.
The study found that the number of wearable camera users will increase even more in the coming years, with more than 1 billion people owning a wearable camera by 2050. This number is projected to increase to 543 million by 2028. It has also been found that the largest groups of wearable camera owners are from US (32%), followed by China (18%) and Japan (11%).
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The most popular types of wearable camera are action cameras and smartwatch cameras. Action cameras are especially popular among younger users that falls in the age group of 18–34-year-old.
SkyQuest has conducted a detailed market analysis and published a report on global wearable camera market. This report would help market participants in gaining insights on consumer preference, buying pattern by gender, ethnicity, demographics, factors influencing choices, brand selection, preference among consumers by features, prices, availability, among others.
58% Sales of the Wearable Camera Comes from Millennials
Recently SkyQuest had conducted a survey to know what motivates users to wear and use a camera on their bodies, as well as what they find most useful and engaging about footage captured using these devices. The survey, which was conducted online between January 10th and March 13th, surveyed 10,000 adults in the U.S., France, Germany, Italy, Spain and the United Kingdom. Here are some of the key findings in the global wearable camera market:
-A majority of global users say that wearing a camera helps them capture more memories (72%).
-Nearly two-thirds of global users say that footage captured using a wearable camera is helpful in reliving memories (63%).
-Users also find value in being able to share footage captured while traveling (59%), as well as sharing clips with friends and family (50%).
-Interestingly, women (92%) are more likely than men (81) to have used a wearable camera at some point in their lives.
-Respondents from all age groups across the wearable camera market were interested in using wearable cameras for various purposes – like capturing memories or documenting life events – millennials were the most likely group to report using them for video recording (44%).
Of course, what would a wearable camera survey be complete without some insight into who is actually buying these devices? The study further found that, 83% of all wearable camera buyers are male. And when it comes to age group distribution, millennials (aged 18-34) unsurprisingly lead the pack with 58% wearable camera market share and rest of buyers are falling in the age group of above 35 years.
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Key Players in Global Wearable Camera Market
- Reveal Media Limited (US)
- Axon Enterprises Inc. (US)
- Pinnacle Response Ltd. (Ireland)
- WatchGuard Technologies Inc. (US)
- GoPro Inc. (US)
- Panasonic Corporation (Japan)
- Coban Technologies Inc. (US)
- Transcend Information Inc. (Taiwan)
- Digital Ally (US)
- Panasonic (Japan)
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