The analysts forecast the global wearable camera market to grow at a CAGR of 16.86% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global wearable camera market for 2017-2021. To calculate the market size, the report considers the revenue generated through sales of wearable cameras along with their respective mounts or straps which are used to wear them on the body. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is increasing implementation of product bundling strategy. Vendors bundle cameras with a variety of accessories for consumers. This is economical for consumers as they do not need to spend separately on accessories. This marketing strategy has increased the sales of accessories alongside wearable cameras and is being used by companies such as Canon and GoPro, which manufacture both cameras and accessories.
According to the report, one of the major drivers for this market is growing popularity of social networking sites. The increase in social media activities is one of the major drivers for the sales of wearable cameras. In 2016, Facebook had 1.8 billion and Twitter had 350 million monthly active users. Over a billion unique users visit YouTube every month. Google Plus has around 150 million active users monthly, and there are more than 350 million people on Instagram. The demand for wearable cameras is increasing as people are keen to share photos and videos with their friends through social networking sites. With the growing number of options available for social networking, the demand for these cameras is expected to increase during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is rising popularity of smartphones. The sales of mobile devices, such as smartphones and tablets, have increased because they have become more affordable for consumers.
Other prominent vendors
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Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by type
Part 07: Market segmentation by end-user
Part 08: Market segmentation by technology
Part 09: Market segmentation by distribution channel