LONDON--(BUSINESS WIRE)--The gyro cameras market is expected to grow by USD 1.3 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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In 2018, Facebook had over 1.8 billion active monthly users, Twitter had 350 million monthly users, and there were more than 350 million people on Instagram. Similarly, over a billion unique users visit YouTube every month. People active on these social networking platforms create and share photos and video content, which has led to an increase in the use of gyro cameras. Also, technological advances and online media communities have increased the availability of digital photography and videography for consumers. Besides, the advent of smart cameras that can instantly share media content on social networking sites and other platforms has increased the demand for gyro cameras. These factors are fueling the growth of the global gyro cameras market.
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As per Technavio, the popularity of gyro cameras will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Gyro Cameras Market: Popularity of Gyro Cameras
Gyro cameras are portable, compact, aesthetically appealing, and easy to use in extreme conditions. These factors have increased their popularity among end-users such as athletes, adventure seekers, filmmakers, security agencies, and broadcasting companies. They also produce superior-quality images and videos and have a long battery backup, which has increased their penetration in popular racing events such as MotoGP. Besides, there is a wide availability of image editing tools that help users to customize their images in unique and innovative ways. These factors are positively influencing the growth of the global gyro cameras market.
“Growth in adventure tourism and the use of drone gyro cameras for sports will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Gyro Cameras Market: Segmentation Analysis
This market research report segments the gyro cameras market by type (drone gyro camera and regular gyro camera) and geography (North America, Europe, APAC, MEA, and South America).
The North America region led the gyro cameras market in 2019, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, North America is expected to register the highest incremental growth due to the presence of a mature and technologically advanced entertainment industry in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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