USD 6.28 Billion
Report ID: SQMG20D2006 | Region: Global | Published Date: September, 2022 | Pages: 157
The Global Wearable Camera Market was valued at USD 6.28 Billion in 2021, and it is expected to reach a value of USD 17.07 Billion by 2028, at a CAGR of 15.3 % over the forecast period (2022-2028).
A wearable camera is a camera that can be worn as an extension or as part of a costume to record media in the first person. A wearable camera has multiple sensors such as a microphone, inertial measurement units, and an imager, making it a viable alternative to cameras operated by another person for recording media. Because of their ease of use and portability, wearable cameras have found widespread application in a variety of industries such as sports/fitness, crime control, healthcare, and so on.
Furthermore, recent advances in lifelogging, primarily due to the rapid development of wearable cameras, have enabled us to continuously capture moments from our lifestyles from a first-person perspective. Extraction and re-experimentation of moments illustrated by autobiographic images are of specific interest for boosting episodic memory in patients with neurodegenerative diseases such as Alzheimer's, mild cognitive impairment, and so on. The wearable camera Wearable Camera Market includes a variety of products that can be mounted on the head, body, or ear. Among these, head mount wearable cameras have gained enormous popularity among global users, owing to large applications in outdoor activities, such as underwater recording.
Along with that, the travel and tourism industry and the sports industry made significant strides, providing a strong impetus to the wearable cameras market. Wearable cameras have gained traction among broadcasting studios for live streaming of sporting events from the various vantage points of the players on the field, fueling the evolution of the wearable cameras market. While wearable cameras are more commonly used in industries such as sports and entertainment, they are also increasingly being used by law enforcement officers to record footage while in danger zones, which can then be used to strategize and plan specific events, among other applications. As a result of increased applications and technological advancements in wearable cameras, the market is expected to grow exponentially in the coming years.
Global Market Size
USD 6.28 Billion
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The Global Wearable Camera Market is segmented Based on Type, Application and Region. Based on Type it is categorized into Head Mount, Body Mount, Ear Mount, and Smart Glass, Based on Application it is categorized into Sports & Adventure, Security, Healthcare, Military & Defense, and Other. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Application
Based on application, the sports and adventure segment are expected to hold a significant market share in the wearable camera industry. This increase can be attributed to the increased use of wearable cameras in a variety of sports and adventure events. For example, sports referees and umpires wear it during games to record play-by-play of the sport being played. Furthermore, extreme sports enthusiasts such as skydivers and underwater divers are increasingly using it to record the entire experience without any hassle. Furthermore, as sports and adventure activities such as hiking and river rafting become more popular, people are increasingly investing in wearable cameras. These factors are expected to have a positive impact on Wearable Camera Market growth during the forecast period.
Analysis by Type
In 2021, Head Mount segment has dominated the market. Rapid technological advancements in wearable camera technology are expected to drive industry growth during the forecast period. Furthermore, with the advent of social media platforms, people are more interested than ever in sharing their lives and special moments online. Furthermore, wearable cameras are becoming increasingly popular in the broadcasting industry because they allow for the first-person point of view shot, allowing for autobiographical capturing of daily life, which is an opportunity for liveblogging enthusiasts. Other advantages of wearable cameras include a compact and sturdy body that is suitable for all terrains, self-adjusting focus, automatic lighting adjustment, large storage, and incredible portability with hands-free recording capability. These factors are expected to have a positive impact on the wearable camera market's growth.
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North America is expected to account for a large segment of the wearable camera market during the forecast period. This increase can be attributed to the region's law enforcement agencies' increased use of wearable cameras. The possible explanation for this is to increase transparency in the police investigation process, increase officer accountability, and reduce instances of misconduct while also recording the citizen's behavior, such as during a suspect interview or a sobriety test. Furthermore, these recordings could be used as evidence in court, such as in cases of domestic violence. These factors are expected to catalyze the global wearable camera industry's growth during the forecast period.
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Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Global Wearable camera Market. Many major firms are shifting their focus to the introduction of new products into the market. Digital Ally, Panasonic, Garmin, GoPro, and Narrative are among the prominent/major key Wearable Camera Market players in the Global Wearable Camera Market. To gain a competitive advantage over their competitors in this market, players in the Global Wearable Camera Market are implementing various growth strategies. Major market players have been covered, as have their relative competitive strategies, and the report also mentions recent deals and investments made by different Wearable Camera Market players over the last few years.
Top Players Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, the growing demand for convenience and exceptional experience of cameras has increased the growth and penetration of wearable cameras. The growing demand for smartphones, easy accessibility to the internet, and high-speed data networks have resulted in the increasing usage of these cameras. The growing adoption of wearable cameras in the security and medical sectors is anticipated to revolutionize the Wearable Camera Market by 2028.
|Market size value in 2021||USD 6.28 Billion|
|Market size value in 2028||USD 17.07 Billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Wearable Camera Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Wearable Camera Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Wearable Camera Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Product ID: SQMG20D2006