Technavio, a tech-focused market research firm, has published a new report on the global wearable cameras market, which is expected to grow at a CAGR of close to 17% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global wearable camera market into the following key regions:
Source: Technavio
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Top three contributors for the global wearable camera market are elaborated below
Wearable camera market in North America: The high adoption rate of wearable cameras in North America is accreditable to the concentration of adventure enthusiasts and adventure destinations in the region. The high per capita disposable income of the population is yet another key driving force behind the growth of the wearable camera market in North America. According to Technavio’s industry analysts, the wearable camera market in North America is projected to account for a revenue of more than USD 2,109 million by 2021.
According to Ujjwal Doshi, a lead analyst at Technavio, specializing in research on consumer electronics, “high spending ability of consumers in North America, especially in the US, has led to the region being the early adopter of wearable cameras. A large segment of the population can easily afford wearable cameras, supported by the fact that most vendors are based in this region.”
Wearable camera market in Western Europe: Western Europe is projected to be the slowest growing geographical segment of the global wearable camera market owing to market maturity. Furthermore, the market in this region is one of the early adopters of wearable cameras. With wearable cameras being used for professional sports and adventures, the market in the region is expected to enter new fields. The rising use of drone cameras and spider cameras for sporting events, such as the EPL, will also facilitate market growth.
Wearable camera market in APAC: APAC is the fastest-growing market for wearable cameras. The fastest growth is attributed to the increased demand for wearable cameras in emerging countries such as Indonesia, China, and the Philippines. The growth of the market in the APAC region during the forecast period is likely to be driven by its large population and rising disposable incomes. The wearable camera market in APAC is projected to register growth at a CAGR of more than 23% between 2017 and 2020.
The leading vendors operating in the global wearable camera market are:
- Drift
- Garmin
- iON
- Rollei
- Sony
Other prominent vendors in the market include BRAUN PHOTO TECHNIK, Brinno, Chilli Technology, Delkin Devices, Hitachi, iSAW, JVC, Liquid Image, Looxcie, Mobius ActionCam, Pivothead, Pyle Audio, Toshiba, VIOFO, and VIEVU.
A more detailed analysis is available in the Technavio report titled, ‘Global Wearable Camera Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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