Demand for wearable cameras has surged owing to the rising popularity of adventure sports such as hiking, mountain biking, trekking, skiing and sky diving among other. Participants use wearable cameras to record and live stream their experience. In addition, the expansion of the travel and tourism industry is also influencing the global wearable cameras market. Many broadcasting studios are now using wearable cameras during live telecast of sporting events to provide exclusive player perspective or viewpoint. Players are mounted with wearable cameras during the game to offer an infield view to viewers. Use of wearable cameras has also increased in the defense sector due to their efficiency and high performance. Moreover, growing attraction towards outdoor activities and higher emphases on improving safety measures is also expected to make a positive impact on the global sales of wearable cameras over the next couple of years. On the other hand, the small size of wearable cameras makes them fragile and expensive, which to an extent has been deterring the prospects of the global wearable cameras market. According to the latest report published by Fact.MR, the global wearable cameras market will surge at a staggering CAGR of 13.4% during 2017 to 2022.
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Wearable cameras can be worn or attached to a part of the body. The designs of wearable cameras often incorporate practical features and functions. Wearable cameras are head mountable, ear mountable and body mountable. These cameras can be used for recording and broadcasting real time incidences, without having to hold a camera in hand.
North America to Spearhead the Global Wearable Cameras Market
The wearable cameras market in North America is expected to remain highly lucrative during the forecast period (2017-2022) and is projected to exhibit a double-digit CAGR. This is primarily owing to the presence of a large number adventure seekers and outdoor sport enthusiasts who prefer to use wearable cameras to monitor and capture their field experience. Further, rise in disposable income and availability of cutting-edge wearable cameras in the region is also driving the growth of the market in the North America region.
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Head Mount Wearable Cameras Top Selling Product Type Segment
On the basis of product type, preference for head mount wearable cameras is significantly high and the trend is expected to continue over 2022. In terms of revenue, global sales of head mount wearable cameras currently account for more than 52% market share. Towards the end of the assessment period, around US$ 4,800 Mn worth head mount wearable cameras are anticipated to be sold globally.
Key market players profiled in Fact.MR’s report include Digital Ally, Inc., Garmin International, Inc., GoPro, Inc., iON America LLC, Narrative, Pinnacle Response, Axon Enterprise, Inc., VIEVU, Hitachi, Ltd., and General Electric Company.
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