Trend of underwater photography, rise in usage in media and entertainment, and emergence of camera rental services drive the growth of the global underwater camera market. North America accounted for the largest share in terms of revenue in 2020, contributing to nearly two-fifths of the global underwater camera market.
According to the report published by Allied Market Research, the global underwater camera market generated $5.65 billion in 2020, and is projected to reach $18.81 billion by 2030, witnessing a CAGR of 13.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Avinash Savekar, a Lead Analyst, Semiconductor and Electronics at Allied Market Research, stated, “The underwater camera market is expected to grow at the highest rate during the forecast period, owing to rising trend toward underwater photography and growing popularity of smart action underwater camera. Moreover, economically developed nations tend to witness high penetration of advanced technology in underwater camera, which is projected to significantly contribute toward the growth of the underwater camera market.”
- Electronics manufacturing hubs have been closed down temporarily to restrict the spread of the Covid-19 among employees and workers. This led to shortage of components and finished goods.
- Electronic components and other devices have been majorly imported from China. Owing to the closedown of manufacturing units and ban on import-export activities, the prices of components used in manufacturing underwater cameras raised with shortage of supplies.
- Owing to restrictions on travel during lockdown restrictions, the demand for underwater cameras reduced considerably. However, the demand is expected to rise during the post-lockdown.
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The report offers detailed segmentation of the global underwater camera market based on type, industry, and region. Based on type, the digital single-lens reflex (DSLR) segment contributed to the highest share in 2020, accounting for more than half of the global underwater camera market, and is expected to maintain its lead position during the forecast period. However, the mirrorless segment is projected to manifest the highest CAGR of 16.6% from 2021 to 2030.
Based on distribution channels, the offline segment accounted for the largest share in 2020, holding more than two-thirds of the global underwater camera market, and is projected to continue its leadership status throughout the forecast period. However, the online segment is expected to witness the highest CAGR of 15.0% from 2021 to 2030.
Based on region, North America accounted for the largest share in terms of revenue in 2020, contributing to nearly two-fifths of the global underwater camera market, and is expected to maintain its dominant share in terms of revenue by 2030. However, Asia-Pacific is expected to grow at the largest CAGR of 15.9% during the forecast period.
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Leading players of the global underwater camera market analyzed in the research include Canon Inc. (Japan), GoPro Inc. (U.S.), Nikon Corporation (Japan), OM Digital Solutions Corporation (Japan), Panasonic Corporation (Japan), Sony Corporation (Japan), Fujifilm Holdings Corporation (Japan), Ricoh Company Ltd. (Japan), Scale Aquaculture AS (Norway), and Shenzhen Zhiyong Industrial Co. Ltd (China).
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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