New York, USA, May 29, 2023 (GLOBE NEWSWIRE) -- Market Research Future (MRFR) 's report highlights “Camera Tripods Market Research Report: Information By Product Type, Distribution Channel and Region - Forecast till 2027”, the market size is anticipated to reach USD 407.2 million by 2027, registering a CAGR of 2.94% during 2020-2027.
Market Scope:
A camera tripod, which has three legs, is used to stabilize and hold cameras in place. Tripods are utilized according to the weight of the camera to be held and available in a variety of sizes. For instance, a tripod that is too tiny won't be able to appropriately support and hold a camera. Legs, a head, and a plate are the three main components of a camera tripod. The plate is where the camera is mounted, while the head aids in moving the camera. To balance the camera, the legs equally divide its weight among them.
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Competitive Dynamics:
The major companies in the organized tripod market have increased sales of tripods by providing feature-rich products for consumers' convenience, creating growth potential for camera tripods. Key Players of the Camera Tripods Market are:
- The Vitec Group plc (Italy)
- Really Right Stuff (US)
- Induro Gear (US)
- Feisol Inc. (US)
- Gradus Group LLC (US)
- 3 Legged Thing LTD (UK)
- in (India)
- Vanguard World, LLC (US)
- SLIK Corporation (Japan)
- Zomei (China)
Report Scope:
| Report Attribute | Details |
| Market Size | USD 407.2 Million |
| CAGR | 2.94% (2020 to 2027) |
| Base Year | 2019 |
| Forecast Period | 2020–2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | High Influence of Social Media and Blogging |
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Market Drivers:
The popularity of social media and the rising interest in professional photography are the main factors influencing the demand for camera tripods. Social media is used by customers to publish blogs and share artistic photos of landscapes and people. Sales of tripods and other camera equipment are being driven by this. The fact that the majority of camera tripods are portable and simple to transport when traveling is further boosting their popularity worldwide.
Over the past five years, social media has expanded quickly. The most popular social media sites, including Facebook and Instagram, have had a significant impact. Professional photographers utilize social media to advertise their work, keep their creative side exposed in the online community, conduct online exhibits, and draw customers for increased business. The market for camera tripods is expanding to some extent because to the rising usage of social media to advertise photographic talents.
Market Restraints:
However, the expansion of the Camera Tripods Market during the projection period may be hampered by high product costs and the expanding number of local businesses selling knockoffs and subpar goods. Additionally, it is anticipated that a number of private labeling advantages, including decreased competition and higher margins, would restrain market expansion throughout the evaluation period.
COVID-19 Analysis:
The influence of COVID-19 has had a direct impact on the sales and distribution of many items across sectors. To stop the virus from spreading, several nations have put themselves on lockdown and barricaded their borders. Because to COVID-19's effects on logistics, the supply of raw materials has been interrupted, which has further led to decreased manufacturing capacity and, as a result, product shortages. In the short term, it is anticipated that these variables will increase the cost of camera tripods. Additionally, in an effort to stop the virus from spreading, several governments throughout the world are restricting entry to popular tourist destinations and meeting areas. This situation has made outdoor photography difficult, which has hampered the sale of camera tripods across the world. But in the near future, the easing of government regulations will enable customers to resume travel and outdoor photography, driving up sales of camera tripods.
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Market Segmentation:
By Product Type
The studio sector held the greatest market share in 2019 and is anticipated to expand moderately over the next several years. Since the late 19th century, photographers have been in high demand to capture the world's events and activities, including athletic events, landscapes, wildlife, and celebrities. This is fueling the growth of commercial photography. The workspace used for taking, developing, printing, and duplicating pictures is called a studio. In studios, tripods are often robust, weighty, and powerful. The greatest tripods for photography are studio tripods. However, the lack of mobility is affecting its global sales figures.
By Distribution Channel
Since stores allow customers to touch and feel products before seeing them in action, they account for the majority of the camera tripod market sales. Supermarkets & hypermarkets, specialty shops, and other outlets make up this section. In 2019, the supermarkets and hypermarkets sector dominated the market.
Regional Analysis:
In 2019, North America led the world market for camera tripods. The demand for camera accessories has been impacted by a high level of product knowledge and a strong preference for capturing landscapes, moments, and portraits. The region's expanding media and entertainment sector, celebrity photo sessions, and rising professional camera sales have all contributed to the region's rising need for camera tripods. The growing desire for high-quality gadgets and other accessories among the populace has affected the price of camera tripods. The demand for tripods has increased as a result of the increase in the number of travelers and their rising interest in photography and videography. Furthermore, the market expansion in North America has been greatly aided by the notable companies' technological and service advancements.
Asia-Pacific is a brand-new source of revenue for the market for camera tripods. The expanding populations in China and India have given the market's current participants some favorable conditions. Growing consumer knowledge of personal hygiene and the advantages of products is what is fueling market expansion in the area. In 2019, the region's market development has also been assisted by celebrities showcasing their photographic abilities on social media and the region's expanding tourist sector.
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