Wearable Camera Market Outlook - 2030
A wearable camera can be worn by a person as an extension or part of a costume for recording media in the first person. It is equipped with multiple sensors such as a microphone, inertial measurement units, and the imager which makes wearable cameras a suitable alternative to cameras operated by some other person for recording media. Body-worn cameras are used to capture video and audio data digitally.
It typically comprises a microphone, camera, battery, and data storage unit, which is either onboard or connected to a camera unit with a cable They are mainly used for surveillance purposes by police and special law enforcement agencies. It allows capturing evidence and recording the real-time data. The prime driving factor for the body-worn camera market's growth is the increase in demand for maintenance and accountability of a transparent approach during police conduct.
The global wearable camera market is segmented on the basis of type, application and region. Based on type, the market is divided into head mount, body mount, ear mount, and smart glass. In terms of application, the market is categorized into sports & adventure, security, healthcare, military & defense, and other. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
COVID-19 Scenario Analysis
- The global lockdown implemented in response to the COVID-19 outbreak has resulted in a financial collapse that has affected Wearable camera market size.
- As government of different provinces have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Wearable camera market opportunity globally.
- The COVID – 19 pandemic has affected the growth of the wearable camera market as due to the pandemic many sporting events, which extensively make use of body cameras, got canceled. Moreover, activities like lifelogging, etc. also came to a halt due to the restrictions on the movement of people across the globe, thereby reducing the usage and demand of wearable cameras.
Top Impacting Factors
The increase in need for consumers for tracking fitness and digitizing medical records has led to enhanced demand for medical wearable camera devices, increase in use of law enforcement and military are the key factors that are driving the market growth. However, high costs and social issues associated with wearable cameras like illegal surveillance, recording of media without permission, etc. can hamper the market growth. Furthermore, various factors, such as the increasing use of connected wearables, rise in extreme sports events, holidays, and music festivals, the growth in trend of sharing content on social networking websites, and the booming consumer electronics industry are creating the new opportunities for the market.
New Product Launches to Flourish the Market
The new products that contain improved capabilities have been launched by leading market players. They have taken necessary steps to improve accuracy of devices and overall functionality as well.
KC Wearable, the smart wearable technology, and innovation company announced significant partnerships with over 35 countries worldwide as authorities seek to control the spread of COVID-19 in June 2020. The KC N901 smart helmet, that employs a thermal camera, has been used to detect symptoms of COVID-19 in a range of different settings while working closely with police agencies and major transport hubs, such as airports and schools, and hospitals.
Panasonic public safety solutions division, which is a business unit of the newly formed Panasonic i-PRO sensing solutions Co., Ltd., showcased an innovative new compact and lightweight body-worn camera (BWC) at the IACP. The new BWC incorporates a unique combination of features, including a user swappable battery with up to 12 hours of life, enabling law enforcement agencies to focus on duties and not on charging batteries in October 2019.
Surge in Usage in Electronic Devices and Industrial Applications
The wearables cameras experience increased adoption in various applications in sports and adventure segments. They are being used by goalies, referees, catchers, and umpires for the live recording of the sport, as well as by skiers, skydivers, surfers, and riders for recording and sharing the adventurous moments with the rapidly increasing popularity of these cameras and the growing interest of people in sports and adventurous activities. Also, the increasing need for consumers for tracking fitness and digitizing medical records has led to enhanced demand for medical wearable camera devices. For instance, wearable cameras embedded with other software and hardware can determine the nutrition facts and categorize different food types through image processing techniques. These features offered by the device are expected to influence the industry in a positive manner.
Key Benefits of the Report
- This study presents the analytical depiction of the global wearable camera industry along with the current wearable camera market trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the wearable camera market share.
- The current market is quantitatively analyzed to highlight the wearable camera market growth scenario.
- The current Wearable camera market forecast is quantitatively analysed to benchmark the financial competency.
- Porter’s Five Forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global wearable camera market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Wearable Camera Market Research Report
- Who are the leading market players active in Wearable Camera Market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the future projections that would help in taking further strategic steps?
Wearable Camera Market Report Highlights
Key Market Players
Narrative, Xiaomi, AXON, Garmin, Sony Corporation and Contour, GoPro, Panasonic, Digital Ally, Pinnacle Response