Global Wearable Camera Market was valued US$ 2.11 Bn in 2017 and is expected to reach US$ 10.02 Bn by 2026, at a CAGR of 21.5 % during a forecast period.
The wearable camera market is segmented into application, type, product, sales channel, and region.
In terms of application, wearable camera market is segmented into sports & adventure, security, healthcare, and industrial.
Based on type segment, wearable camera market is classified into head mount, body mount, and ear mount & smart glass.
Further product, wearable camera market is divided into cameras, and accessories.
In terms of sales channel, wearable camera market is classified into online, and offline.
Based on regions, the global wearable camera market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.
Based on product, cameras segment is anticipated to dominate the wearable camera product market during forecast period, operational efficiencies associated with a wearable camera device, such as embedding GPS and enhancing video stabilization, are expected to drive the market growth. The ability of wearable cameras to capture life experiences is expected to improve the product demand.
The increasing demand for connectivity between devices in order to share information and data online, and store them on the cloud is led to the growth of the wearable camera technology in the cameras segment.
Based on type, head mount segment is anticipated to dominate the wearable camera type market during forecast period. The body mount segment is expected to witness a significant growth rate owing to the high demand originating from security applications. Body mount cameras are gaining popularity in security applications.
Rapid adoption across residential and commercial applications is key drivers for boosting the global wearable camera market growth. The increasing demand for features such as the convenience of a hands-free operation and unique experience offered by wearable cameras is likely to propel the global market growth over the forecast period. The main features leading to the growth of wearable camera technology are convenience, responsiveness, and security.
High cost of wearable cameras, poor battery life of earlier wearable cameras and slow adoption of wearable cameras in enterprise and healthcare sector are some of the key factors which are curbing the market of wearable cameras across the globe.
The rising popularity of sharing experiences through photos and videos on social media sites presents a significant opportunity for the growth of wearable camera market.
On the basics of region, North American region is estimated to be the key regional segment over the forecast period owing to well-established manufacturers and large consumer base. The region accounted for largest revenue share and is expected to grow at a CAGR of 14% during forecast period. The North American, European, and Asia Pacific regions are anticipated to remain the key revenue generating segments over the forecast period.
The key market players of the global wearable camera market are Garmin, GoPro, Narrative, Xiaomi, Pinnacle Response, VIEVU, and Digital Ally.