Selbyville, Delaware, Sept. 01, 2020 (GLOBE NEWSWIRE) --
According to latest report “Underwater Camera Market by Product (Digital Single Lens Reflex (DSLR), Mirrorless, Compact), Application (Personal, Commercial[Education & Research Institutes, Media & Entertainment, Underwater Sports]), Distribution Channel (Online, Offline), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of underwater cameras will cross $8 billion by 2026. Surge in sporting activities, such as scuba diving and snorkelling, will boost the demand for underwater cameras that capture high-quality images.
High demand for compact cameras that enable to capture high-quality images in versatile subaquatic conditions will drive the underwater camera market growth. Beginners in diving or snorkeling use compact cameras as they are affordable compared to DSLRs and mirrorless cameras. These cameras are small sized and enable enhanced portability in underwater photography without drag issues. Travelers also prefer compact cameras as they are lightweight and easy to carry, making the checkout process at airports easy. Compact cameras with smaller sensors have more depth of field at the same aperture as that of a DSLR.
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The increasing usage of these cameras in commercial applications, such as underwater sports, media & entertainment, and education & research, is being witnessed. Media companies are using these cameras for capturing high-quality videos for films. Large aquarium owners also deploy high-performance cameras to shoot short films of rare species in oceans to attract tourists by providing a glimpse of their offerings to enhance marketing. The developing media & entertainment industry globally will provide several growth opportunities to the market.
Some of the prominent players operating in the underwater camera market are Ocean Systems, Inc Brinno Inc., Canon Inc., Fujifilm Holdings Corporation, Garmin Ltd., GoPro Inc., Nikon Corporation, Olympus Corporation, Panasonic Corporation, Ricoh Company Ltd., Sony Corporation, Steinsvik, and Subsea Tech. These companies are focusing on launching new innovative solutions to strengthen market presence. They are offering robust cameras with rugged features that enable to take crisp and clear images in tough underwater conditions.
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The Asia Pacific underwater camera market is projected to witness 12% growth through 2026, owing to the tourism industry in countries, such as Taiwan, Australia, Singapore, and Japan, which are attracting scuba diving enthusiasts. Government organizations in countries, such as Japan and Australia, are focusing on utilizing high-performance cameras for studying marine life. Taiwan has five major diving regions with varied marine life throughout the year, enabling divers to capture versatile pictures under the water. Taiwan offers diving opportunities with its diverse array of corals and fish species and establishment of three marine parks.
Some major findings of the underwater camera market report are:
- Demand for robust underwater cameras that can be deployed in hard to reach places in the ocean for the research of marine geology and ecology. These cameras capture high-quality images and aid researchers and educational institutes to assess underwater species, habitat, and the impact of human intervention in water bodies on the marine ecosystem.
- Divers also use underwater cameras in search & rescue operations to assess the underwater situation before diving and to trace the exact location of the victim. Locating the exact spot reduces the time spent in searching for the victim manually.
- The underwater camera market is observing growth as the tourism industry uses sharp and clear underwater images to post attractive pictures on its portals to enhance marketability. Popular tourist destinations employ professional divers to enable tourists to experience a safe diving experience.
Table of Contents (ToC) of the report:
Chapter 3. Underwater Camera Market Insights
3.1. Industry segmentation
3.2. Impact of coronavirus (COVID-19) pandemic
3.2.1. Global outlook
3.2.2. Regional outlook
3.2.3. Industry value chain
3.2.3.1. Component suppliers
3.2.3.2. Manufacturers
3.2.3.3. Distributors
3.2.4. Competitive landscape
3.2.4.1. Strategy
3.2.4.2. Distribution network
3.2.4.3. Business growth
3.3. Industry ecosystem analysis
3.3.1. Raw material suppliers
3.3.2. Component suppliers
3.3.3. Technology providers
3.3.4. System integrators
3.3.5. Manufacturers
3.3.6. Distribution channel analysis
3.3.7. Aftermarket
3.4. Technology & innovation landscape
3.4.1. Unmanned Underwater Vehicles (UUVs)
3.4.2. Autonomous Underwater Vehicles (AUVs)
3.4.3. AI and AR, VR
3.4.4. Live streaming technology
3.5. Regulatory landscape
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.2. Pitfalls and challenges
3.7. Growth potential analysis
3.8. Porter’s analysis
3.8.1. Buyer power
3.8.2. Supplier power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Industry rivalry
3.9. PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.