Underwater Camera Market: Introduction
Transparency Market Research delivers key insights on the
global underwater
camera market. In terms of revenue, the global underwater
camera market is estimated to expand at a CAGR of ~9% during
the forecast period, owing to numerous factors regarding which TMR offers
thorough insights and forecasts in the global underwater camera market report.
In this market report, TMR predicts that increasing
popularity of marine tourism is one of the prime reasons for the growth of the
underwater camera market. Increasing number of people are opting to experience
new adventures which has propelled the tourism industry. Of late, underwater
tourism has experienced immense popularity, as oceans are becoming new areas of
exploration. Furthermore, growth of marine exploration by marine researchers
are gradually gaining traction worldwide in the quest to find new discoveries.
All these factors are anticipated to boost the underwater camera market.
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Another prime factor for the growth of the underwater camera
market is the increasing popularity of broadcasting channels. Television
channels as well as live streaming platforms such as National Geographic
Channel, Discovery Channel, and Animal Planet are creating awareness about the
marine environment by continuously broadcasting and livestreaming underwater
videos. This is anticipated to boost the underwater camera market.
However, presence of rental underwater camera service is a
restraining factor for the growth of the underwater camera market. Rental
services in tourist destinations restrains the purchasing frequency of
travelers, as they are being provided underwater cameras by rental service
providers. This restrains the overall volume of underwater cameras in the
residential user segment, which ultimately impacts the overall underwater
camera market.
However, rising millennial population in emerging economies
preferring adventure is anticipated to create lucrative opportunities for the
growth of the underwater camera market. Young millennial population are
choosing underwater tourism, especially in Southeast Asian countries where
tourism is expanding at an unprecedented rate. Therefore, the growing young
population is anticipated to offer lucrative opportunities for the underwater
camera market during the forecast period.
In terms of type, compact camera is anticipated to dominate
the underwater camera market during the forecast period. Affordability, easy
availability, as well as convenience in carrying are some of the prime reasons
for growth of compact cameras. DSLR as well as mirror-less cameras are ideal
for professionals and hence are anticipated to see slow growth during the
forecast period.
In terms of application, the commercial segment dominated
the underwater camera market. Underwater cameras have extensive applications in
undersea exploration, water based sports, as well as education and research,
etc. The segment is further anticipated to have the strongest growth during the
forecast period.
In terms of distribution channel, offline channels are still
preferred for purchase of underwater cameras. Specialty stores, malls, as well
as hypermarkets are some of the preferred options of offline distribution
channels.
Underwater Camera Market: Prominent Regions
North America and Europe dominated the underwater camera
market in 2018 and are further anticipated to dominate the market for the next
couple of years. Presence of some of the popular beach side tourist
destinations, relevance of underwater photography, etc., are the main reasons
for the dominance of the region in the underwater photography market. However,
Asia Pacific is experiencing exponential growth in underwater photography due
to a growing tourism industry.
Underwater Camera Market: Key Players
Key players operating in the global underwater camera market
include Canon Inc., FUJIFILM Corporation, Nikon Corporation, Ocean
Systems, Inc., Olympus Corporation, Sony Corporation, GoPro, Inc., Garmin Ltd.,
Ricoh Company Ltd., Steinsvik, and Subsea Tech.
Global Underwater Camera Market: Segmentation
Underwater Camera Market, by Type
- Digital
Single Lens Reflex (DSLR)
- Mirrorless
- Compact
Underwater Camera Market, by Application
- Individual
- Commercial
- Education
& Research Institutes
- Entertainment
& Broadcasting
- Underwater
Sports
- Others
(Security, Aquaculture, etc.)
- Industrial
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Underwater Camera Market, by Distribution Channel
- Online
- Company-owned
Portals
- e-Commerce
Portals
- Offline
- Hypermarkets/Supermarkets
- Specialty
Stores
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