Wearable Camera Market to Reach Valuation of USD 13.02 Billion by 2028 - Rising Disposable Income to Drive the Wearable Camera Market Growth

Vantage Market Research

May 17, 2022

From the period of 2022 to 2028, the Global Wearable Camera Market is expected to reach USD 13.02 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 18.4%.

Wearable Cameras are used to capture moments in sports or adventures where it’s not possible to physically hold a camera. These cameras are often strapped to the body of an individual and are highly durable and can withstand dirt, water, etc., and are capable of functioning in harsh environments as well. The increasing popularity of adventure sports and rising demand from the fitness industry are prominent trends that will drive sales of Wearable Camera over the forecast period. Rising disposable income and increased popularity of social media trends are major factors that will further boost Wearable Camera Market growth over the coming years. Especially in developed economies like the United States the sales of Wearable Camera are expected to perform well

Key Highlights from the Report

  • On the basis of the end user industry, the market is segmented into Sports and Fitness, Military and Defence, Manufacturing, Healthcare, and Others. The sports and fitness segment will emerge as the dominant segment over the forecast period and the increasing popularity of sports and fitness activities will further bolster growth in this segment. The demand in the military and defense sector is also expected to increase as investments in the defense sector increase across the world.

  • On the basis of product, the market is segmented into camera and accessories. The camera segment is projected to account for a dominant market share in this category in the Global Wearable Camera Market landscape. An increasing number of launches of novel Wearable Camera are also expected to boost the growth in this segment. However, the demand for accessories is also projected to rise at a steady pace through 2028.

  • Asia Pacific is the fastest regional segment in terms of growth. Asia Pacific region will register the fastest sales of Wearable Cameras owing to increasing disposable income and the rising popularity of adventure sports. Increasing smart penetration and developing internet infrastructure is also expected to boost the adoption of the Wearable Camera in this region over the forecast period. India and China are projected to be the most noteworthy markets in this region owing to rising disposable income and the high availability of Wearable Cameras.

Market Dynamics:

Increasing Popularity of Sports and Fitness Activities.

Sports and fitness activities have increased in popularity on a global scale and they are majorly driving the Wearable Camera Market demand. Further increase in popularity of the same is expected to prominently influence Wearable Camera Market potential through 2028. People are now indulging more in sports activities to stay fit as the trend of fitness takes over with the rising prevalence of lifestyle disorders. An increasingly sedentary lifestyle is also projected to boost outdoor activity demand and drive Wearable Camera Market growth.

Rising Disposable Income and Increasing Popularity of Social Media

Population across the world has seen an increase in their disposable income and this is projected to boost sales of Wearable Camera over the forecast period. The increasing popularity of social media and the trend of sharing videos and pictures on social platforms is also expected to favor sales of Wearable Camera over the forecast period.

Over the projection period, North America will hold a dominant stance in the Global Wearable Camera Market and is projected to maintain this over the forecast period. The Wearable Camera Market in North America accounted for a market share of 41.8% in 2021. The Wearable Camera Market sales revenues stood at a net valuation of US$ 1976.9 million in 2021. The growth in this region can majorly be attributed to the presence of key Wearable Camera manufacturers and high consumer spending potential. The rising popularity of sporting events and increasing awareness of fitness trends in this region is projected to favor Wearable Camera Market growth. The United States is expected to be the most lucrative market in this region through 2028.