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The global underwater camera market size is estimated to grow by USD 3.65 billion declining at a CAGR (Compound Annual Growth Rate) of 11.68% between 2022 and 2027.
The tourism industry is rapidly driving market growth. The adventure tourism sector was worth more than USD 747.47 billion in 2022. Recreational activities such as swimming, diving, water aerobics, and Waboba attract tourist. Furthermore, adventurous sports like deep-sea diving and ice diving are some trending activities loved by many. Therefore, the demand for underwater cameras is rising as tourists are increasingly using them to capture moments of their adventure. More than 30% of the US's population participated in water sports in 2021. Additionally, factors such as technological advancement, and an increase in applications of underwater cameras are driving the market growth.
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The market is experiencing significant growth due to the increasing popularity of water sports and scuba diving. Cameras designed for underwater use are in high demand, as they enable individuals to capture stunning images and videos of marine life and underwater landscapes. These cameras come with various features such as waterproof housing, high resolution, and advanced imaging technologies like infrared and low light capabilities. The market comprises several key players, including Canon, Nikon, Sony, and Panasonic, among others. The competition is fierce, with companies constantly innovating to offer superior products and features. The market is also driven by the rising trend of live streaming and social media sharing, which has led to an increase in demand for compact, portable underwater cameras. Additionally, the growing popularity of virtual reality and 360-degree video technology is expected to further fuel the market's growth in the coming years.Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The advances in technology are notably driving market growth. The advent of digital technology in image processing has revolutionized underwater photography. Modern waterproof digital cameras do not necessarily use waterproof housing. In addition, digital photographs have higher image quality, due to which even amateur photographers can capture great underwater images. The market is experiencing significant growth, driven by the surge in adventure tourism and the increasing participation in water sports. With over 30% of the US population engaging in water activities in 2021, the demand for underwater equipment, including cameras, is on the rise. Advancements in product design, such as wide-angle lenses and sensors, have been facilitated by microelectronics. Specific businesses catering to underwater use have seen increased revenue due to the immersive experience offered. Regular digital cameras require waterproof housing for underwater use, which exposes their internal components to water and high water pressure. Adventure tourism activities like kayaking and exploration of coral reef coasts have fueled the need for advanced underwater equipment. Content sharing on social media platforms and the disposable income of travelers have further boosted market growth.
Despite the advances in technology, small-sized underwater digital cameras are becoming bulky. This can be attributed to their increasing functionality, where users can capture high-detail images using 3D technology. To implement this technology, two digital cameras are joined in order to provide a stereo-capturing range. Underwater images have been captured for over 50 years all over the world. However, the quality of the images captured using digital 3D technology is better than before. Therefore, such factors are expected to drive the growth of the market during the forecast period.
The advent of smart underwater cameras is one of the major market trends. Underwater cameras are likely to become smart during the forecast period with enhanced connectivity. With a built-in communication interface, smart underwater cameras can wirelessly transfer pictures using Bluetooth, Wi-Fi, and NFC. They also can interact with PCs and smartphones. The market is experiencing significant growth due to bundle packaging strategies. Companies like GoPro and Canon offer underwater cameras with accessories such as mounts, casings, and lenses at affordable prices. This approach increases sales of both cameras and accessories. Advancements in underwater camera technology include improved sensors and microelectronics. Specific businesses catering to adventure tourism, water sports, and kayaking benefit from these devices. Regular digital cameras lack the necessary features for underwater use, making waterproof housings essential. Underwater equipment is in high demand due to the immersive experience it provides. Exposure to water and water pressure are critical factors in underwater camera design. Content sharing on social media platforms and travel experiences are major drivers for this market. Consumers with disposable income seek unique experiences, making underwater cameras an attractive investment.
People prefer purchasing smart cameras because they can directly transfer photos and videos on social networking sites. These cameras avoid the trouble of transferring photos to another device before uploading them on social media platforms. Smart underwater cameras will likely have the ability to Tag and go, which can be done by simply touching a smartphone to the smart underwater camera. Users can directly upload pictures to social networking sites and quickly geotag the images using built-in NFC. Such factors are expected to drive the growth of the market during the forecast period.
The increase in vendor competition is a major challenge in market growth. Companies in the global market are witnessing a decline in their profit margins because of the rising prices of raw materials. Companies such as Canon, Nikon, Panasonic, and Sony enjoy a substantial market share. Many new Companies are also entering the market because they are attracted by the huge potential for growth.The market is experiencing a shift due to rising raw material costs, leading to decreased profit margins for vendors. Major players, including Canon, Nikon, Panasonic, and Sony, dominate the market. New vendors are entering, drawn to the market's growth potential. Vendors focus on creating affordable options for consumers in developing countries, impacting sales and revenue. Price wars ensue, forcing vendors to lower product prices. Advancements in underwater camera technology include wider angle lengths, improved sensors, and microelectronics. Specific businesses catering to adventure tourism, water sports, and kayaking seek out these devices for immersive experiences. Underwater equipment, such as waterproof housings, protect internal components from water pressure and exposure. Content sharing on social media platforms and travel fuel demand. Consumers with disposable income seek unique experiences at coral reef coasts.
The emergence of local players has also resulted in price wars that are compelling market Companies to reduce the prices of their products. This is leading to a reduction in profit margins. The increasing competition may also lead to the manufacture and introduction of low-quality products in the market. This will affect the market adversely during the forecast period. Major consumer electronics Companies such as Sony, Olympus, and Ricoh are entering the market with featured underwater cameras, threatening the market share of the existing players. Therefore, such factors are expected to hinder the growth of the market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Brinno Inc. - The key offerings of the company include underwater cameras.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market share growth by the residential segment will be significant during the forecast period. The demand is expected to grow significantly among residential users, as these cameras are widely used for capturing photos and recording videos of underwater sports and leisure activities.
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The residential segment was valued at USD 3.12 billion in 2017 and continued to grow until 2021. Water sports, such as scuba diving, snorkeling, surfing, and water rafting, are popular among people of different age groups. In North America, several US states, including Hawaii, Virginia, California, Ohio, and Georgia, are known for their water sports. Annual events such as the East Coast Surfing Championships, the Reno River Festival of rafting, and the Vans Triple Crown promote active participation from national and international candidates. The market is experiencing substantial growth, driven by increasing demand from residential users for capturing images and videos of water sports and leisure activities. Advanced products with wide angle lengths and enhanced sensors are gaining popularity. Microelectronics and waterproof housings enable underwater use, withstanding water pressure and exposure to water. Adventure tourism, including water sports such as scuba diving, snorkeling, surfing, and kayaking, fuel market expansion.
Coral reef coasts and specific businesses catering to underwater equipment and content sharing on social media platforms and travel websites contribute to market growth. The immersive experience offered by underwater cameras appeals to those with disposable income seeking unique outdoor activities.Furthermore, the growing per capita income and the increasing popularity of water sports, such as rafting, surfing, jet-skiing, snorkeling, and scuba diving, have driven the growth of water tourism globally, which, in turn, has propelled the demand from sports enthusiasts. Thus, owing to such factors, the segment is expected to grow during the forecast period.
By Distribution Channel
The market has experienced growth due to the rise of product-specialty and brand-specific stores. Consumers seek these outlets for expert advice and high credibility. Underwater cameras are essential devices for capturing images and videos during swimming, snorkeling, and various water activities. Automated cameras, action cameras, compact digital cameras, Digital single-lens reflex (DSLR) camera, and housings cater to diverse needs. Image quality and performance levels are crucial factors, with manual control options, mirror mechanism, autofocus, and phase detection enhancing user experience. Smartphones have limited capabilities, making dedicated underwater cameras preferred. Studio photographers utilize underwater photoshoots for media & entertainment, dry work cameras water surface while scuba divers and photography of biodiversity explorers benefit from this technology. Opportunities exist in action movies, underwater videography, and various extreme sports like surfing, rock climbing, and skiing. High cost underwater cameras offer advanced features, while camera rental services cater to those with lower consumer spending capacity. Waterproof features are essential for underwater photography and videography.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is thriving due to the region's popularity for water sports and adventure activities. Swimming, snorkeling, and scuba diving are among the most common water activities driving the demand for camera device that can capture high-quality images and videos underwater. Automated cameras, housings, and both action and compact digital cameras are popular choices for underwater photography and videography. Performance levels, manual control options, and image quality are key considerations for consumers. Smartphones with mirror mechanisms, autofocus, and phase detection also offer underwater capabilities. Opportunities exist for underwater photoshoots, action underwater photography, and videography in media & entertainment. High-cost underwater camera rentals cater to studio photographers and those engaging in extreme sports like surfing, rock climbing, and skiing. The market is fueled by the region's high consumer spending capacity and the growing popularity of water sports.
Furthermore, the market is also driven by the high per capita disposable income of the population in the region. The high spending power of consumers in North America, especially in the US, has led to the region being an early adopter of cameras. A high percentage of the population can easily afford underwater cameras. In addition, the rising penetration of social media platforms, such as Facebook and Instagram, with its rising trend of taking underwater photos and uploading them on social networking sites, has further influenced the growth of the market in the region. Therefore, these factors are expected to drive the market in the region during the forecast period.
The market is witnessing significant growth with the rising trend toward underwater photography, fueled by a surge in activities like scuba diving and snorkeling. Waterproof digital cameras, including action cameras and compact models, cater to diverse videography needs, offering performance levels ranging from entry-level to professional-grade DSLRs with manual control options and advanced autofocus systems. Key sectors driving demand include media & entertainment, travel & tourism, and education & research institutes. The Market has witnessed significant growth in recent years due to the increasing popularity of underwater photography and videography. The market comprises of various components such as housing, lights, and accessories. The market is driven by factors like the rising demand for adventure tourism, increasing awareness about marine life, and advancements in technology. The market is segmented based on the type of camera, which includes compact underwater cameras and DSLR underwater cameras. Compact underwater cameras are popular among beginners and hobbyists due to their affordability and ease of use. On the other hand, DSLR underwater cameras are preferred by professionals and enthusiasts for their superior image quality and advanced features. The market is also segmented based on the application, which includes recreational use, scientific research, and commercial use. The recreational use segment dominates the market due to the growing popularity of scuba diving and snorkeling. The market is expected to grow at a steady pace in the coming years due to the increasing demand for high-quality underwater images and videos. The market is also expected to be driven by the development of advanced technologies like 4K video recording and wireless connectivity.
The market has experienced significant growth in recent years due to the increasing popularity of underwater photography and videography. Photographers and videographers seek high-quality equipment to capture the beauty and mystery of the underwater world. The market is driven by several factors, including technological advancements, rising disposable income, and growing tourism industry. Underwater photography requires specific features such as waterproof housing, high resolution, and low light capabilities. Manufacturers like Canon, Nikon, and Sony offer a range catering to different needs and budgets. These cameras use technologies like infrared focus, image stabilization, and wide-angle lenses to enhance the underwater photography experience. Moreover, the underwater videography market is also growing rapidly, with applications in scientific research, filmmaking, and recreational activities. The use of underwater drones and ROVs Remotely operated underwater vehicle equipped with cameras is becoming increasingly common for capturing footage in hard-to-reach areas. In conclusion, the market is a dynamic and growing industry, driven by the demand for high-quality underwater photography and videography equipment. Technological advancements, rising disposable income, and the growing tourism industry are key factors fueling the market's growth.
The market research report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Decelerate at a CAGR of 11.68% |
Market growth 2023-2027 |
USD 3.65 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.23 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, Germany, France, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Brinno Inc., Canon Inc., Drift Innovation Ltd., FUJIFILM Corp., Garmin Ltd, GoPro Inc., Innovations Australia, Marine Imaging Technologies, MOBOTIX AG, Nikon Corp., Ocean Systems Inc., Olympus Corp., Panasonic Holdings Corp., RED Digital Cinema LLC, Ricoh Co. Ltd., Rollei GmbH and Co. KG., Scale Aquaculture AS, Sony Group Corp., Subsea Tech, and Ultramax Enterprises Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market forecasting report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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