The waterproof camera market is growing rapidly. High development in the field of technology and heavy investment in the development of new product by the key players is driving the global market whereas the major challenges identified in the market are high cost and rising smartphones market. For the purpose of this study, the global Waterproof Camera Market has been segmented on the basis of type, range, application and region.
On the basis of type, normal waterproof camera is dominating the market with more than 60% of market share and is expected to grow with 20% of compound annual growth rate during the year 2017 to 2023 whereas on the basis of range, demand for 10-30m waterproof cameras are high and the market of 10-30m waterproof camera is expected to grow with 20% of CAGR. On the basis of application, the travel and tourism industry is dominating the waterproof camera market with more than 20% of market share. Government initiative around the world to promote the tourism industry is playing a key role in the growth of waterproof camera market. On the basis of regions, North America is dominating the waterproof camera market whereas Asia-Pacific has emerged as fastest growing market with 23% of compound annual growth rate.
The global Waterproof Camera market is expected to grow at USD 10.4 billion by the end of year 2023 with 18.5% CAGR during forecast period 2017-2023.
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North America is dominating the market of Waterproof Camera, with more than 40% of market share. high disposable income of North American countries such as U.S. and Canada is anticipated to be the major driving factor. Europe stands as second biggest market due to the growing travel and tourism industry. Europe attracts more than 100 million tourists every year and as the trend of social media is growing, people are carrying handheld devices to capture the moment and share it on social media platforms. Asia Pacific is growing with steady growth rate and is estimated to cross USD 2 billion market size by the end of year 2023.
The prominent players in the market of Waterproof Camera market are – Fujufilm (Japan), Nikon (Japan), Go-Pro (U.S.), Canon (Japan), Kodak (U.S.), Honeywell International Inc. (U.S.), Panasonic Corporation (Japan), Robert Bosch Gmbh (Germany), FLIR Systems (U.S.), Olympus (Japan) among others.
Global Waterproof Camera Market Structure
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