Published on : Feb 27, 2018
Albany, New York, February 27, 2018: The advanced technology has opened wonderful avenues for people to learn about the planet. One such amazing technology is an underwater camera, which is designed to capture the beautiful life that exists beneath the oceans. In the present time, the growing popularity of the social media platforms is impacting the underwater camera market positively. To elaborate further, Market Research Hub (MRH) has recently publicized a new study, titled “Underwater Camera Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” to its mega-repository, which provides comprehensive insights on the current as well as future growth prospects for the particular market. Apart from that, the study highlights the drivers, restraints, and opportunities expected to influence market’s growth during the forecast period.
An increasing number of individuals especially the young population is taking adventure trips in order to experience nature closely. They are keen to observe as well as capture the underwater elements such as shipwrecks, sponges and fishes, among others while experiencing the underwater life. Today, robust designs of these underwater cameras have enabled several end users to capture high-quality images despite the poor natural light. They are available in different designs and styles, with their rates depending upon the quality.
According to the study key findings, the global underwater camera market was valued at US$2109.9 mn in 2015 and is further expected to reach up to US$8946.1 mn by the end of 2025. During the forecast period of 2017 and 2025, the global market is expected to exhibit at a weighty CAGR of 15.63%. Analysts also found that due to the addition of features such as Wi-Fi, built-in GPS, compass, 4-K video recording, and Bluetooth, the demand of underwater camera market in the forthcoming years will augment speedily.
Geographical Expansion & Segmental Analysis
In order to provide a comprehensive view of the global market, the study highlights market growth in some prime regions including North America, Europe, APAC, South America and MEA. According to the study outcomes, Asia Pacific is poised to do outstandingly well as it is expected to register a CAGR of 16.89% during the forecast period. An increasing number of population in the region is willing to spend on adventure trips and dedicated cameras which can capture underwater experiences.
Moreover, the report has been segmented on the basis of end user and sales channel. On the basis of sales channel, the online segment is expected to grow at a faster CAGR through 2027. Major end user includes commercial and personal purpose.
Another fact about underwater cameras is that they serve an important purpose of surveillance of the underwater life, which has increased its demand all over the world.
At last, the report comprises a detailed company profiles section including a synopsis of the key players functioning in the global underwater cameras market. The key players profiled in the study are Nikon Corporation, Garmin Ltd, Contour LLC., Olympus Corporation, Ricoh Company Limited, Canon Inc., GoPro Inc., Brinno Inc., Sony Corporation, Fujifilm Corporation and Panasonic Corporation.
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