Sports, Consumer, Public Safety, Enterprise, Industrial, Healthcare, and Other Applications for Body-Worn and Mounted Cameras: Global Market Analysis and Forecasts
The wearable camera market today includes cameras used for sports and adventure activities, public safety, and consumer applications. Wearable cameras have targeted specific niche use cases for capturing moments, whether they be thrill seeking or security related, where hands-free usage is a key requirement. In places where there is a clear and well-defined use case, like in the case of sports or public safety, wearable cameras have gained acceptance, but in the case of consumer lifelogging where there is continuous capture of a person’s day, wearable cameras have found it difficult to gain traction. Along the same lines, wearable camera usage in industrial, enterprise and healthcare applications remains limited.
Sports and adventure cameras, also known as action cameras, remain the biggest driver for wearable camera adoption, although the market is entering an uncertain phase. GoPro is one of the most well-recognized and successful wearable camera companies today, responsible for introducing the action camera. However, GoPro has seen declining sales over the last three quarters with Chinese companies like Xiaomi catching up in terms of quality, while also competing aggressively on price. Tractica believes that there will always be demand for alternative “moment capture” devices like the wearable camera, that are separate from the smartphone. GoPro’s weakness will translate into an opportunity for other vendors, as the market continues to grow, albeit at a slower pace. New exciting technologies like 360 vision, virtual reality (VR), artificial intelligence (AI), deep learning, and computer vision will enhance the wearable camera experience, expanding the devices’ use cases and applications.
This Tractica report examines the market opportunity for wearable cameras, providing insight into the drivers and barriers that impact this relatively new product category, in addition to shedding light on some of the technology issues being faced by industry participants. The study provides detailed forecasts and analysis of how wearable cameras are being adopted in sports, public safety, consumer, enterprise, industrial, healthcare, and other applications, and how the market will grow between 2015 and 2021. The report also provides strategic recommendations for the value chain with a strengths, weaknesses, opportunities, and threats (SWOT) analysis of the key players in this market.
Key Questions Addressed:
- What are the primary use cases for wearable cameras today and how will they evolve over the next few years?
- What are some of the key learnings from GoPro and its domination of the wearable camera market?
- Does GoPro’s recent downturn suggest a shrinking action camera market? Is this a cause for concern?
- Who are some of the key players in this market and what strategies should they adopt to ensure long-term success?
- With the negative press around police body cameras in the United States in light of the recent police tensions, what is the future for public safety body cameras?
- Similar to smart glasses, will privacy be a major issue in how wearable cameras are adopted?
- How will 360 vision impact usage of wearable cameras?
- What are the implications of improved artificial intelligence and computer vision techniques on wearable cameras?
Who Needs This Report?
- Wearable device manufacturers
- Consumer electronics vendors
- Digital camera vendors
- Wearable camera vendors
- Smartphone vendors
- Photo and imaging software companies
- Wearable software and application developers
- Semiconductor and component companies
- Mobile network operators
- Investor community