Mobile Gimbal Market Research, 2031
The global mobile gimbal market was valued at $490.1 million in 2021, and is projected to reach $951.6 million by 2031, growing at a CAGR of 6.9% from 2022 to 2031.
A gimbal is a pivoting support that allows an object to rotate around an axis. It can be mechanical or motorized, and it is utilized in stabilization systems to give camera operators the freedom to capture without shaking the camera.
The global entertainment and media industry has witnessed significant growth in the past few decades. The growth can be attributed to the increased production of various genres of video content on television, the big screen, and social media. Mobile phones are being used in the entertainment industry owing to the features offered by mobile manufacturers such as quality, various modes, filters, and others. There is a rise in the media and entertainment industry for instance, according to the report of the International Trade Administration, the U.S. Media and Entertainment (M&E) industry is the largest in the world at $660 billion (of the $2 trillion global market) in 2020. The huge size of the media and entertainment industry coupled with the rising usage of mobile phones in the industry is expected to boost the mobile gimbal market size.
The sudden rise in the number of vloggers is expected to boost the growth of the mobile gimbal market since gimbals help vloggers to record steady and clear videos to post on their channels so they can present a good video and attract more viewers. There is a surge in the number of daily vloggers as many people opted for vlogging as a profession during COVID-19 as they have lost their jobs and have nothing to do. According to an article by vlogging pro over 44% of internet users watch vlogs every single month. The large audience is luring people to shift towards vlogging which is expected to boost the mobile gimbal market demand.
The amount of online content available today has soared over the years. This has been due to increased internet penetration and the impact of social media on the consumer. The increase in growth and rise in the average surfing time among the populous today has made platforms such as YouTube and Instagram very profitable and this has attracted a lot of competition among content creators. To overcome competition, content creators have started investing heavily in mobile and camera accessories such as mobile gimbals to provide higher-quality videos. This growing investment has driven the sales of mobile and mobile accessories and has indirectly influenced the growth of mobile gimbals in the global market.
The integrated camera stabilization being offered by smartphone manufacturers can hamper the growth of the mobile gimbal market since many smartphones are having inbuilt motion stabilization options. Smartphone cameras often utilize Optical Image Stabilization (OIS), which reduces the blurriness in images and videos caused by irregular motion. (EIS) Electronic image stabilization is another technique used to compensate for hand jitters that manifest themselves in distracting video shakes during playback. Many smartphone apps have also been developed to overcome blurriness in images. Given the variety of cheaper options available over gimbals, the growth of the gimbal market can hamper.
The rise in expenditure on mobile phone accessories by the global population is expected to create a growth opportunity for the market. According to the report of the National Library of Medicine, U.S., mobile phone accessories sales have more than 74 billion U.S. dollars which are expected to cross 93 billion U.S. dollars in 2023. Such a rise in the mobile phone accessories market is expected to create an opportunity for the growth of the mobile gimbal market at a significant rate. The rise in the number of social media platforms fuels the demand for mobile accessories. For instance, according to an article by The Economic Times in 2019, the Popularity of the Chinese social media app, TikTok which lets people record short videos and post them online, has boosted sales of mobile phone tripods and accessories up to 10 times in a year.
E-commerce has boomed as a sales channel. International Telecommunication Union (ITU) estimates that approximately 4.9 billion people – or 63% of the world’s population were using the Internet in 2021. This represents an increase of 17% since 2019, with 782 million people estimated to have come online during that period. Owing to the rising penetration of smartphone users and the increasing number of internet users the e-commerce platform is expected to boom as a sales channel. Along with this, there is a rise in the number of online sales channels like Amazon, Flipkart, and others. Such a rise in the e-commerce channel is expected to increase the sales of mobile gimbals during the forecast period since the rise in the number of internet users will result in a rising awareness of the product among consumers. Such rising awareness among consumers is expected to create an opportunity for the mobile gimbal market growth.
The mobile gimbal market is segmented into stabilization type, price point, distribution channel, and region. By stabilization type, the market is bifurcated into 3-Axis Stabilization and 2-Axis Stabilization. By price point, the market is classified into a premium, mid-range, and low/economic. By distribution channel, the market is bifurcated into offline channels and online channels. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of stabilization type, the mobile gimbal market is further bifurcated into 3-Axis Stabilization and 2-Axis Stabilization. The two-axis segment dominated the mobile gimbals market owing to its lightweight, longer-lasting battery, and cost-convenience. The two-axis gimbal is more suitable for the person who is new to videography and is looking for something to practice because humans have better control on lateral (left and right) hand movements. The segment is expected to witness higher growth owing to the rise in the number of content creators.
On the basis of price-point, the mobile gimbal market is further segmented into premium, mid-range, and low/economic. The mid-range segment dominated the global mobile gimbal market and is expected to retain its dominance during the mobile gimbal market forecast period. The mobile gimbals from this segment are expected to have great growth opportunities mainly in developing economies such as China, India, and Brazil. These developing nations are characterized by the rising number of vloggers, and content creators coupled with rapid urbanization and rising disposable income. Moreover, the trend of content creation among the youth of developing nations will further boost the growth of the mobile gimbal industry.
On the basis of type, the mobile gimbal market is segmented into foldable, wireless, and remote control. The wireless remote control accounts for the largest mobile gimbal market share owing to the convenience being offered by it such as easy control and rest to the hand coupled with easy control of wireless remote control attracting consumers towards it.
On the basis of distribution channels, the mobile gimbal market is categorized into offline and online distribution channels. The offline segment is further divided into hypermarkets, convenience stores, and mobile stores whereas the online segment is further segmented into direct and indirect distribution. The online segment is projected to witness the highest growth during the forecast. The online sales channel has increased consumer reach owing to which it has evolved as a key source of revenue for many companies. Consumers are becoming aware of the many purchase patterns that exist in society as technology advances and internet services become more widely available. The technology attracts millennials and generation Z and is expected to influence the buying pattern of products.
For the mobile gimbal market analysis, on the basis of region, the market is further segmented into North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, India, Japan, Australia, New Zealand, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and the rest of LAMEA). North America is one of the largest consumer goods markets in the world that comprises the U.S., Canada, and Mexico. It is a mature region where consumers have high purchasing power. The consumers in this region focus more on the quality of the products and are somewhat less price sensitive than the consumers in the Asia-Pacific. The mobile and mobile accessories market is rapidly maturing owing to the high level of ownership of smartphones and their accessories. The demand for mobile gimbals in the current scenario is highly influenced by a rise in the number of small filmmakers and content creators in this region.
The key leading players operating in this market include Glidecam Industries, Inc., Gudsen Technology Co., Ltd., Flyfilms, Shape, Letus Corporation, Ikan Corporation, Tilta Inc., Ningbo Eimage Studio Equipment Co., Ltd., SZ DJI Technology Co., Ltd., and Rhino.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mobile gimbal market analysis from 2021 to 2031 to identify the prevailing mobile gimbal market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the mobile gimbal market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the mobile gimbal market analysis of the regional as well as global mobile gimbal market trends, key players, market segments, application areas, and market growth strategies.
Mobile Gimbal Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 951.6 million |
 Growth Rate | CAGR of 6.9% |
 Forecast period | 2021 - 2031 |
 Report Pages | 254 |
 By Stabilization Type |
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 By Price Point |
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 By Type |
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 By Distribution Channel |
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 By Region |
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Analyst Review
According to the CXO, the factors such as the rise in the global entertainment and media industry coupled with the surge in the number of vloggers are expected to drive the growth of the mobile gimbal market. However, integrated camera stabilization being offered by smartphone manufacturers can hamper the market growth during the forecast period.
CXOs further added that the rise in expenditure on mobile accessories by the global population is expected to further propel the growth of the market and the increase in investment by online creators is expected to propel the demand for the mobile gimbal market.
The global mobile gimbal market size was valued at $ 490.1 million in 2021 and is projected to reach $951.6 million by 2031.
The global mobile gimbal market registered a CAGR of 6.9% from 2022 to 2031.
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The forecast period in the mobile gimbal market report is from 2022 to 2031.
The major players operating in the global mobile gimbal industry are Glidecam Industries, Inc., Gudsen Technology Co., Ltd., Flyfilms, Shape, Letus Corporation, Ikan Corporation, Tilta Inc., Ningbo Eimage Studio Equipment Co., Ltd., SZ DJI Technology Co., Ltd., and Rhino. These market players are constantly engaged in various developmental strategies such as acquisitions, mergers, and product launches to exploit mobile gimbal market opportunities and gain market share.
The mobile gimbal market is segmented on the basis of stabilization type, price-point type, distribution channel, and region.
COVID-19 has a significant impact on the market since it causes industries to close and humans to stop moving. Both the manufacturing and entertainment industries were in decline. Lockdown gave vloggers and independent filmmakers, who were the device's most popular users, the chance to shoot fresh ideas. In contrast, vloggers who shot outside reported lower consumption. So, it makes sense that the industry's performance throughout the pandemic was inconsistent.
North America will dominate the mobile gimbal market by the end of 2031.
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