LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global wearable camera market to grow to USD 5819.13 million by 2021, at a CAGR of close to 17% over the forecast period, according to their latest report.
The research study by Technavio on the global wearable camera market for 2017-2021 provides a detailed industry analysis based on the type (head mounted, body mounted, ear mounted, and camera glasses), end-user (residential and commercial), technology (ultra HD camera, full HD camera, HD camera and SD camera), distribution channel (offline and online channels), and geography (North America, Western America, APAC, South America, Eastern Europe, and MEA).
|The aesthetically appealing and practical wearable cameras are experiencing rapid adoption rates on a global scale. They provide a hassle free, easy, and efficient recording solution to all consumers who wish to capture photos and videos on-the-go. The advent of photo and video sharing platforms have only added to the popularity of wearable cameras.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global wearable camera market:
- Growing popularity of social networking sites
- High growth in adventure tourism
- Rapid advances in technology
Growing popularity of social networking sites
“The increase in social media activities is one of the major drivers for the sales of wearable cameras, due to the increase in the number of people who are keen to share photos and videos with their friends through these sites,” says Ujjwal Doshi, a lead analyst at Technavio for consumer electronics research.
The capability of smart cameras to instantly share media contents on social networking sites and platforms has increased the demand for wearable cameras. GoPro, a leading vendor in the market, has partnered with Comcast to deliver content captured on GoPro cameras to a diverse audience, ranging from adventure enthusiasts to animal lovers.
High growth in adventure tourism
Adventure tourism is growing quickly due to the rise in the number of people looking to experience adrenaline-filled activities. The popular outdoor sports activities include triathlon, adventure racing, freestyle skiing, climbing, trekking, snowboarding, and bicycling. Wearable cameras are used to capture these events with low distortion frames by both participants and viewers alike. The number of adventure tourists is increasing every year, which is contributing to the growing demand for wearable cameras.
Rapid advances in technology
“The advent of technology in the wearable camera market have paved the way for high-resolution videos, long battery lives, and increased durability. These factors are encouraging more users to choose these devices, thereby driving the market growth,” says Ujjwal.
Sony has recently introduced remote control capabilities to their wrist mounted cameras, which enables users to view various angles through the wearable camera when connected to Wi-Fi. Technological advances, rise in online photo sharing communities, and social networking sites have directly boosted the sales of wearable cameras.
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