The global camera straps market size is expected to reach USD 329.8 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.7% over the forecast period. Rising scope for photography in various sectors such as entertainment and media, tours and travel, wedding, and sports is expected to promote the scope for straps. Furthermore, growing demand for the premium camera at the global level as a result of new product launches by camera manufacturers including Canon and Nikon is expected to promote the utility of straps for providing fall protection over the next few years.
The commercial segment was the largest application segment with a revenue of USD 148.8 million in 2018. Professionals prefer to use high quality straps for comfortable photoshoots. Increased deployment of professional photographers for wedding, party, and birthday is expected to play a crucial role in promoting the use of camera straps. Additionally, increasing number of free-lance photographers at the global level is expected to expand the scope for various accessories including straps over the next few years.
Online channel is expected to be the fastest growing segment with a CAGR of 4.7% from 2019 to 2025. These channels are providing huge discounts, cash on delivery options, and doorstep delivery services. Amazon and Flipkart are some of the e-commerce portals that offer a wide range of products to the consumers. Moreover, some online retailers are providing membership plans for ensuring the long term engagement with the customers.
Asia Pacific is the fastest growing region, expanding at a CAGR of 5.1% from 2019 to 2025. Growing disposable income of the middle class population in India and China is expected to drive the consumers to spend on camera and accessories during tour and travels. Shifting trend towards pre-wedding and post-wedding photoshoots among millennials’ in countries including China and India is expected to expand the utility of camera straps over the next few years.
Some of the key players operating in camera straps market are SAMSUNG, Fujifilm Holdings Corporation, BlackRapid, gordy’s camera straps, Tethys, Altura Photo, BESTTRENDY, Clo’s General Leather Co., Movo Photo, and OP/TECH USA. Major companies are focusing on product innovation and development to cater to the dynamic requirements of the buyers. The industry participants are providing leather, nylon, and fabric straps, which are comfortable and provide strong grips to the consumers.
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Further key findings from the report suggest:
- The commercial application segment of camera straps market generated a revenue of USD 148.8 million in 2018 owing to demand for professional photographers in wedding, sports, and small events. The personal segment is expected to register a CAGR of 4.1% from 2019 to 2025
- Offline channel generated a revenue of USD 203.3 million in 2018. Online channel is expected to expand at a CAGR of 4.7% from 2019 to 2025
- Asia Pacific is the fastest growing region with a CAGR of 5.1% from 2019 to 2025 as a result of increasing sales of premium digital cameras in countries including China and India.
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com