According to a new report published by Allied Market Research, titled, "Camera Stabilizer Market by Type, Application and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global camera stabilizer market size was $3.7 billion in 2018, and is projected to reach $5.3 billion by 2026, registering a CAGR of 4.7% from 2019 to 2026.
Increase in demand for high-quality camera stabilizer in terms of axis stabilization and light weight has been witnessed across the globe. Consumers are shifting their preference from enhanced camera stabilizers particularly for smartphones, thereby fostering the rise in demand for camera stabilizer
The improvement in camera stabilization technology not only provides the base feature but also builds on the existing technology. It provides augmented features such as modular camera stabilizers and inclusion of gyroscope, which is expected to provide opportunities for growth in the coming years. Moreover, increase in the adoption of camera stabilizers for smartphones with feature cameras is also expected to create lucrative opportunities for the engaged stakeholders in the camera stabilizer industry.
A number of modern-day cameras and smartphones come with an inbuilt motion stabilization option. The smartphone cameras often utilize Optical Image Stabilization (OIS), which reduces the blurriness in images and videos caused by irregular motion. Optical Image Stabilization is also used in some compact cameras and SLR lenses as a method to have a clearer and sharper image. (EIS) Electronic image stabilization is another technique used to compensate for hand jitters that manifests itself in distracting video shake during playback. Many smartphone apps have also been developed to overcome blurriness in the images. Given the variety of cheaper options available over camera stabilizers, the sales of camera stabilizers may take a hit.
The global camera stabilizer market is segmented into type, application, sales channel, and region. Based on type, the global market is bifurcated into body mounted and hand held. By application, the global camera stabilizer market is segmented into cinema camera, DSLR, action camera, and smartphones. Based on sales channel, it is bifurcated into offline channels and online channels. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA
Key Findings of the Study:
- By type, the hand held segment was the highest contributor to the global camera stabilizer market, with $2.3 billion in 2018, and is estimated to reach $3.5 billion by 2026, at a CAGR of 5.3% during the forecast period.
- By application, the cinema camera segment accounted for about 51.8% of the global camera stabilizer market share in 2018, and is expected to grow at the CAGR of 3.9%.
- By sales channel, the offline channel leads in terms of market share; however, the online channel segment is expected to garner high market share through the forecast period.
- North America leads in terms of camera stabilizer market share and is expected to retain its dominance during the forecast period.
- By region, Asia-Pacific is anticipated to grow with a robust CAGR of 6.0% during the camera stabilizer market forecast.
Some of the key players in the camera stabilizer market analysis includes 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., Rhino among others