Global Underwater Camera Market: Asia Pacific to Remain at the Forefront of Demand During the Forecast Period

ALBANY, USA, 2018-Apr-11 — /EPR Network/ —A new research study offering market forecast and analysis on the global underwater camera market has been added to the vast repository of Market Research Reports Search Engine (MRRSE). The report titled “Underwater Camera Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” projects the global underwater camera market to grow at a staggering 15.63% CAGR and reach nearly US$ 9 billion in terms of revenues by 2025.

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According to the report, demand for underwater cameras is likely to be influenced by recovery in global economy, and rising popularity of underwater activities as a leisure activity. As more youngsters take up underwater sports at amateur and professional level, demand for advanced and cost-effective underwater cameras is likely to witness an increase.

The demand for underwater cameras is also expected to witness an increase on account of growth in the global tourism sector. The interests of the tourism industry were hurt as the economy made a slow recovery after the global financial crisis. However, as consumer confidence has increased, and major economies are on a solid footing, the number of international tourist arrivals has also witnessed an increase. These factors are likely to promote the growth of the underwater camera market during the assessment period.

On the basis of end-users, the global underwater camera market is broadly classified into personal and commercial. Between these, demand for underwater cameras from the personal segment is higher than demand from commercial segment. The lure of sharing underwater experiences on social media is a key factor that is influencing demand for underwater cameras positively.

By sales channel, demand for underwater cameras is also likely to remain steadfast through the offline channel. This segment accounts for over 85% revenue share of the global market. However, sales are growing at a steady pace through the online channel as well. Availability of a wide range of underwater cameras on various e-commerce platforms has opened up new avenues of opportunities for manufacturers. Delivery of underwater cameras to tier II and suburban areas, especially in developing countries has led to an increase in overall sales. The report opines that further proliferation of online channel will provide a further impetus to the growth of the market during the assessment period.

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On the basis of region, Asia Pacific is likely to remain the largest market, with total sales of underwater cameras pegged to reach 5.9 million units by the end of 2025. The demand for underwater cameras in Asia Pacific is likely to remain robust in China and India. The Asia Pacific underwater camera market is likely to grow at 16.89% CAGR throughout the forecast period.

The report also profiles some of the leading players in the global underwater market. Some of the key players profiled in the report include Nikon Corporation, Canon Inc., GoPro Inc., Brinno Inc., Garmin Ltd, Sony Corporation, Contour LLC., Fujifilm Corporation, Ricoh Company Limited, Olympus Corporation, Panasonic Corporation.

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