Engagement in Adventure Sports like Skydiving to Position Wearable Cameras Market at US$ 16.5 Billion by 2028

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Sep 22, 2022, 09:00 ET

Law Enforcement Officials to Embrace Smart Wearable Cameras to Capture Sobriety Tests and Traffic Stops

Fact.MR's latest research report on the wearable cameras market offers an elaborate analysis on the leading segments in terms of type, product, application, and region. It also provides detailed information about key players and vital strategies adopted by them to gain a competitive edge.

NEW YORK, Sept. 22, 2022 /PRNewswire/ -- The global wearable cameras market is expected to be valued at US$ 16.5 Billion in 2028 and exhibit steady growth at a CAGR of 14.8% in the forecast period (2022-2028). Wearable cameras are gaining immense popularity as more individuals are becoming conscious of their right to privacy and security. Thus, use of these cameras is increasing at a fast pace for both private and business needs.

Hands-free capability of wearable cameras is thought of as an adjunct to the smartphone camera, allowing users to snap images with the assistance of both body mounts and head mounts. At present, the market for wearable cameras includes devices that are mainly utilized for consumer, public safety, and adventure & sports activities. By application, sports and fitness is considered to be one of the largest segments in the global wearable cameras market.

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As wearable cameras are hands-free recording tools that enable users to capture and transmit a live event or circumstance, these are set to be extensively used by those individuals who engage in adventurous activities like skydiving. With their hands and eyes free, it enables users to focus on the work at hand while the recording continues through the camera they are wearing.

Law enforcement officials also use wearable cameras to capture any events they come across while on duty, including traffic stops, sobriety tests, and interviews, among other events. Increasing demand for these cameras among surgeons for usage in filming the entire surgical process for subsequent review is expected to push the market. Sales of head-mounted wearable cameras are anticipated to be boosted by increased demand from customers participating in adventure sports and rising need for social media recording.

Key Takeaways:

The global wearable cameras market is projected to reach a valuation of US$ 7.2 Billion by 2022.
The U.S. wearable cameras market is anticipated to generate the lion's share with their rising installation on police personnel for providing better transparency.
Based on type, the head mount segment is estimated to dominate the wearable cameras market on the back of surging demand for documentation on social media.
Body-mounted wearable cameras are projected to remain in the second position owing to their increasing use in the entertainment industry.
In terms of application, the military and defense segment is set to grow at a steady pace as wearable cameras are installed on soldiers' helmets to emphasize their training.

Growth Drivers:

Demand for wearable cameras is set to increase as a result of customers' growing desire to monitor their fitness activities and digitize their medical records.
Increasing number of music festivals, extreme sports events, and the trend of sharing unique content on social media platforms are likely to drive the market.

Restraints:

Wearable cameras often lead to social problems, including unauthorized media recording and monitoring, which might limit industry expansion.
Some of the newly launched affordable wearable cameras have very less battery capacity and storage space, which may hinder their sales.

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Competitive Landscape:

Some of the major strategies used by competitors in the global wearable cameras market are new product launches, mergers & acquisitions, joint ventures, and regional growth. Launch of new products into the market is now a primary emphasis for many large-scale companies. They are striving to compete with their rivals by diversifying the existing product portfolios.

For instance,

In July 2022, Qualcomm unveiled a glimpse of its next generation wearable with Snapdragon 4100+. It is developed on the 12nm process and consists of a new co-processor to aid users to handle more background tasks like sound and sensor input.
In May 2021, Ulefone introduced its latest night vision camera, which is a highly portable device that works as an accessory to smartphones. It can also be used as a wearable body camera that can be fitted onto a user's back pocket, belt, and jacket.

Key Companies Profiled by Fact.MR

Sony Corporation
Contour LLC
Garmin Ltd.
GoPro Inc.
Narrative AB
Pinnacle Response Ltd.
Axon Enterprise Inc.
Vievu LLC
Drift Innovation Ltd.
Xiaomi

More Valuable Insights on Wearable Cameras Market

In the latest study, Fact.MR offers a detailed study on global wearable cameras market for the forecast period of 2022 to 2028. This study also highlights key drivers promoting the sales of wearable cameras through detailed segmentation as follows:

By Type:

Head Mount
Body Mount
Ear Mount & Smart Glass

By Product:

Cameras
Accessories

By Application:

Sports & Fitness
Military & Defense
Manufacturing
Healthcare
Others

By Region:

North America
Latin America
Europe
APAC
MEA

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Key Questions Covered in the Wearable Cameras Market Report

What is the projected value of the wearable cameras market in 2022?
At what rate will the global wearable cameras market grow until 2028?
Which are the factors hampering the growth in the wearable cameras market?
Which region is expected to lead in the wearable cameras market during 2022-2028?
Which are the factors driving the wearable cameras market during the forecast period?
What is the expected market value of the wearable cameras market during the forecast period?

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