The global wearable camera market size is expected to reach USD 10.9 billion by 2025, at a CAGR of 18.2% according to a new report by Grand View Research, Inc. 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 of 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 market by 2025.
The market has been segmented based on varied types of wearable cameras, such as head mount, body mount, and ear mount & smart glass. Based on applications, the market has been segmented into sports & adventure, security, healthcare, and industrial. The sports & adventure sector is the largest application sector in terms of size and is expected to dominate the market over the forecast period, owing to the rising popularity of sports and adventure activities.
The growing popularity of wearable cameras is encouraging manufacturers to invest in research & development for creating better products. Manufacturers have been observed making significant investments to simultaneously develop new products in an effort to enhance user experience. Additionally, researchers are focusing on innovating reliable and cost-effective products.
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Further key findings from the report suggest:
- The global wearable camera market was valued $2.09 Billion in 2016 and is expected to grow at a 18.19% CAGR from 2017 to 2025
- The head mount segment dominated the overall market in 2016. A head mount wearable camera is often attached to the helmet of the user and generally used in sports and adventure activities such as wingsuit flying and base jumping.
- The growing demand for wearable cameras can be accredited to the growing popularity of sharing experiences on social networking sites.
- Wearable cameras offer exciting new applications in the medical field. For instance, they are used for surgical training where the first-person surgical video captured by the wearable camera is used as a training resource.
- The North American region dominated the market, accounting for the largest global market share in 2016 owing to its large consumer base.
- Key industry participants include GoPro Inc. (U.S.), Drift Innovation Ltd. (UK), Garmin Ltd. (U.S.), Xiaomi (China), and Sony Corporation (Japan).