Camera Stabilizer Market to Reach $5.3 Bn, Globally, by 2026
Surge in growth of the entertainment industry, increased investment by online content creators, rise in availability of low-cost camera stabilizers, and usage of camera stabilizers in event industry propel the growth of the global camera stabilizer market
PORTLAND, Ore., Aug. 18, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Camera Stabilizer Market by Type (Body Mounted and Hand Held) Application (Cinema Camera, DSLR, Action Camera, and Smartphones), and Sales Channel (Offline Channels and Online Channels): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report published by Allied Market Research, the global camera stabilizer market generated $ 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.
Drivers, restrains, and opportunities-
Surge in growth of the entertainment industry, increased investment by online content creators, rise in availability of low-cost camera stabilizers, and usage of camera stabilizers in event industry propel the growth of the global camera stabilizer market. Nevertheless, integrated camera stabilization in modern cameras restrains the market growth. Moreover, innovations and technological development offer new opportunities in the near future.
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- Manufacturing procedures for camera stabilizers have been disturbed during the lockdown phase. Also, the supply chain disruptions resulted in shortage of raw materials, thereby slowing down the business.
- The demand for camera stabilizers has also been declined to certain level due to restrictions on outing activities and shut down of the cinema industry. However, the relaxations imposed by the government bodies have allowed the companies to restart manufacturing with concern to precautionary measures.
The hand held segment contributed to the largest share in 2019-
Based on type, the hand held segment contributed to the largest share in 2019, accounting for more than three-fifths of the global camera stabilizer market, and is estimated to maintain its dominant position during the forecast period. Furthermore, the segment is expected to register the highest CAGR of 5.3% from 2019 to 2026. This is attributed to rise in the number of content creators and small filmmakers utilizing hand held stabilizers to produce content all around the world.
The offline segment to dominate the market in 2019-
Based on sales channel, the offline market segment accounted for the largest share in 2019, holding more than four-fifth of the global camera stabilizer market, and is expected to maintain the largest share throughout the forecast period. This is attributed to the fact that offline sales channel is more convenient provides immediate gratification to the cuswhich tomer. On the other hand, the online channel segment is estimated to portray the highest CAGR of 6.4% during the forecast period. This is attributed to growing popularity of mobile shopping and rise in the affinity of consumers for e-commerce websites.
North America to rule the roost throughout the forecast period-
Based on region, North America contributed to the highest share, accounting for more than one-third of the global camera stabilizer market in 2019, and will maintain its dominance throughout the forecast period. This is attributed to high level of ownership of digital cameras and smartphone feature among consumers. In addition, large number of small film makers present in this region and growing trend of video logging among consumers drives the growth of the market in North America. On the other hand, Asia-Pacific is expected to grow at the highest CAGR of 6.0% from 2019 to 2026. This is owing to growth in purchasing power of consumers in this region. Furthermore, presence of a large population with growing affinity toward video logging, online content creation and social media fuel the market growth in this region.
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Leading market players-
- 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.
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