DUBLIN--(BUSINESS WIRE)--The "Underwater Camera Market By Type, Distribution Channel and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global underwater camera market was valued at $5.65 billion in 2020, and is projected to reach $18.81 billion by 2030, registering a CAGR of 13.90% from 2021 to 2030.
Compact underwater cameras are some of the best cameras for shooting underwater, as they are often easy to learn, easy to dive and travel with, and less expensive than their SLR counterparts while still yielding outstanding image results and fast shooting speeds. Underwater photographers use macro lenses or wide-angle lenses to allow close focus and get a short distance between them and the subject to avoid loss of clarity to scattering.
One of the major uses of underwater cameras is the production of marine documentaries. In addition, mirrorless cameras have created a lot of buzz in the diving community as they seem to offer two very distinct advantages such as they bridge the price gap between digicams and DSLRs in a very attractive manner by offering a very cost-effective way to increase photographic capability underwater and they are small & light, which really helps to address the travel problem.
The global underwater camera market is anticipated to witness significant growth during the forecast period. Factors, such as rising trend towards underwater photography, growing use of underwater cameras in media & entertainment, and emergence of camera rental services, drive the growth of the underwater camera market. Underwater cameras are automated and can be easily lowered from the water surface to capture images and videos. The travel & tourism sector, craze of individuals to click underwater, traveling, pictures and blogs, and underwater photoshoots are in trend now-a-days.
In addition, there is growing trend of scuba diving and photography of biodiversity using underwater photographs as records. Such growing trend toward photography boosts the growth of the underwater camera market. However, high cost of the product restraints the global underwater camera market. In addition, the growing popularity of smart action underwater camera is expected to create opportunities for the underwater camera industry.
The global underwater camera market is segmented into type, distribution channel, application, and region. By type, the market is divided into digital single lens reflex (DSLR), mirrorless, and compact. By distribution channel, it is bifurcated into online and offline. Depending on application, it is separated into personal use and commercial (education & research institutes, media & entertainment, underwater sports, commercial photography, and underwater research).
Region-wise, the underwater camera market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is dominating the underwater camera market, due to rising trend towards underwater photography, and growing use of underwater cameras in commercial sector is expected to offers growth opportunities for underwater camera market. Asia-Pacific is projected to register significant growth rate during the forecast period. Furthermore, Europe holds a subsequent position and is expected to increase its growth rate by the end of the forecast period.
Market Dynamics
Drivers
- Rising trend towards underwater photography
- Growing use of underwater cameras in media and entertainment
- Emergence of camera rental services
Restraint
- High cost of the product
Opportunity
- The growing popularity of smart action underwater camera
Key Players
- Canon Inc.
- GoPro Inc.
- Nikon Corporation
- Panasonic Corporation
- Sony Corporation
- OM Digital Solutions Corporation
- Fujifilm Holdings Corporation
- Ricoh Company Ltd.
- Scale Aquaculture AS
- Shenzhen Zhiyong Industrial Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/vcq3cy
