Global Wearable Camera Market Overview
Modernization and penetration of social networking sites changed the way of using cameras. Wearable camera allows capturing moments related to adventure, sports, functions, etc. due to availability of hands-free functionality.
Technological advancements in camera technology offer the advantages in terms of camera quality and durability of wearable cameras. Increase in funding in research and development will raise the popularity of wearable camera among the population. Increasing urbanization across the globe and growing preference of consumer towards wearable devices and rise in adoption of advanced and high quality cameras are likely to spur the demand for wearable camera in near future.
Moreover, importance of wearable camera is growing in healthcare industries and government organizations. Growing trend of wearable camera among the youth is driving the growth of wearable camera market. Wide-scale applications and numerous wearable camera options such as body worn, cloth clipping cameras are some of the vital features of wearable camera which are expected to establish importance in various end use industries.
Market size and forecast
The global wearable camera market is anticipated to account for USD 3.8 Billion by 2023 by registering a promising CAGR over the forecast period i.e. 2016-2023. The wearable camera shipments are expected to increase from 5.8 Million in 2015 to 33.2 Million by 2023 on account of rising adoption of wearable cameras in sports and adventure field.
Regionally, Europe is expected to showcase a tremendous growth in the market of wearable cameras across the globe in near future. The market is driven by rising installation of wearable cameras on federal security forces for public safety. Factors such as government initiatives towards public safety and increasing adoption of wearable cameras in sports such as sky diving; mountain cycling, etc. are expected to boost the demand for wearable camera over the forecast period i.e. 2016-2023.
Our in-depth analysis segmented the global wearable camera market in the following segments:
Global Wearable Camera Market is further classified on the basis of region as follows:
Growth Drivers and challenges
The market is majorly driven on the back of factors such as availability of wearable cameras with high resolution which has increased popularity among the population. Rising adventure and sport activities and growing demand of wearable cameras in such activities owing to hands-free functionality is swelling the demand for wearable camera. Additionally, rising adoption of advanced technology devices in urban regions on account of rising personal disposable income are accepting the relative new technology of wearable cameras.
Moreover, wearable cameras have gain acceptance for public safety purposes. Installation of wearable cameras on the helmet of various task forces to capture spontaneous incidents is likely to bolster the demand for wearable cameras in near future. Furthermore, availability of small and light weight wearable cameras provides the opportunity to adopt for various spying purposes by the federal security forces. However, wide-scale application of wearable cameras in defense sector is expected to trigger the demand in near future.
Rise in technological advancements in wearable cameras enhanced the battery life and memory storage is likely to gain traction in near future. Continuous development and introduction of user-friendly interfaces in wearable cameras is expected to foster the growth of wearable cameras market over the forecast period i.e. 2016-2023.
Conversely, high cost of wearable cameras, poor battery life of earlier wearable cameras and slow adoption of wearable cameras in enterprise and healthcare sector are some of the key factors which are curbing the market of wearable cameras across the globe.
The key players of wearable camera market as follows:
Scope and Context
Overview of the Parent Market
The Global Wearable Camera Market is segmented as follows:
Supply and Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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