Global Wearable Camera Market

Wearable Camera Market Size, Share, Growth Analysis, By Type(Head Mount, Body Mount, Ear Mount, Smart Glass), By Application(Sports & Adventure, Security, Healthcare, Military & Defense), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20D2069 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 66 | Figures: 75

Wearable Camera Market Insights

Wearable Camera Market size was valued at USD 4 billion in 2019 and is poised to grow from USD 4.73 billion in 2023 to USD 18.03 billion by 2031, growing at a CAGR of 18.2% in the forecast period (2024-2031).

A wearable camera is a camera that can be worn as an extension or as part of a costume to record media in the first person. A wearable camera has multiple sensors such as a microphone, inertial measurement units, and an imager, making it a viable alternative to cameras operated by another person for recording media. Because of their ease of use and portability, wearable cameras have found widespread application in a variety of industries such as sports/fitness, crime control, healthcare, and so on.

Furthermore, recent advances in lifelogging, primarily due to the rapid development of wearable cameras, have enabled us to continuously capture moments from our lifestyles from a first-person perspective. Extraction and re-experimentation of moments illustrated by autobiographic images are of specific interest for boosting episodic memory in patients with neurodegenerative diseases such as Alzheimer's, mild cognitive impairment, and so on. The wearable camera Wearable Camera Market includes a variety of products that can be mounted on the head, body, or ear. Among these, head mount wearable cameras have gained enormous popularity among global users, owing to large applications in outdoor activities, such as underwater recording.

Along with that, the travel and tourism industry and the sports industry made significant strides, providing a strong impetus to the wearable cameras market. Wearable cameras have gained traction among broadcasting studios for live streaming of sporting events from the various vantage points of the players on the field, fueling the evolution of the wearable cameras market. While wearable cameras are more commonly used in industries such as sports and entertainment, they are also increasingly being used by law enforcement officers to record footage while in danger zones, which can then be used to strategize and plan specific events, among other applications. As a result of increased applications and technological advancements in wearable cameras, the market is expected to grow exponentially in the coming years.

US Wearable Camera Market is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

Wearable Camera Market size was valued at USD 4 billion in 2019 and is poised to grow from USD 4.73 billion in 2023 to USD 18.03 billion by 2031, growing at a CAGR of 18.2% in the forecast period (2024-2031).

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Wearable camera Market. Many major firms are shifting their focus to the introduction of new products into the market. Digital Ally, Panasonic, Garmin, GoPro, and Narrative are among the prominent/major key Wearable Camera Market players in the Wearable Camera Market. To gain a competitive advantage over their competitors in this market, players in the Wearable Camera Market are implementing various growth strategies. Major market players have been covered, as have their relative competitive strategies, and the report also mentions recent deals and investments made by different Wearable Camera Market players over the last few years. 'Panasonic Corporation', 'GoPro', 'Garmin', 'Sony Corporation', 'Polar Electro', 'Xiaomi Corporation', 'Insta360', 'Contour LLC', 'Drift Innovation', 'Narrative AB', 'Vievu LLC', 'Looxcie Inc.', 'Taser International Inc.', 'Axon Enterprise Inc.', 'Recon Instruments Inc.', 'Hitachi Ltd.', 'Toshiba Corporation', 'Google LLC', 'Samsung Electronics Co., Ltd.', 'DJI Technology Co., Ltd.'

Consumers' increasing willingness to track their fitness and digitize their medical records has increased the demand for medical wearable camera devices. for instance, Wearable cameras embedded with other software and hardware, can determine nutrition facts and characterize different food types using image processing techniques. The device's features are expected to have a positive impact on the industry.

As an effect of the growing popularity of wearable cameras manufacturers is investing in R&D to create better products. Manufacturers have been observed making significant investments to develop new products and at the same time improve user experience. Furthermore, researchers are focusing on developing dependable and cost-effective products.

North America is expected to account for a large segment of the wearable camera market during the forecast period. This increase can be attributed to the region's law enforcement agencies' increased use of wearable cameras. The possible explanation for this is to increase transparency in the police investigation process, increase officer accountability, and reduce instances of misconduct while also recording the citizen's behavior, such as during a suspect interview or a sobriety test. Furthermore, these recordings could be used as evidence in court, such as in cases of domestic violence. These factors are expected to catalyze the wearable camera industry's growth during the forecast period.

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Global Wearable Camera Market

Report ID: SQMIG20D2069

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