Wearable cameras are commonly used to capture user-centered data that is used to analyse a scene, to classify physical activities and to recognize interactions. Moreover, a wearable camera is equipped with multiple sensors such as inertial measurement units and microphone along with imager.
Wearable camera is gaining traction in sports industry as wearable camera offers various benefits. For instance, wearable camera offers hands-free recording and capturing of moments linked to sports, adventures, events and any tourism activity. Also, it offers the ability to keep the hands and vision free to focus on the task at hand. Moreover, wearable cameras are commonly used by referees and umpires in sports industry to record various sports events. For instance, skydivers or underwater divers commonly record experiences and an emerging trend of vlogging is witnessed.
Emerging trend of vlogging is expected to push the adoption of wearable cameras during forecast period
Vlog is a shortened name for video blogs and is a term used to define any form of blogging that uses video as the main medium. Moreover, vlogging has been many influencers to narrate a visual story. Rapid usage of social media platforms and the emerging trend of vlogging is expected to push the adoption of affordable and lightweight wearable cameras. Various lightweight wearable cameras such as GoPro are gaining traction across the globe.
Rise in need of wearable camera from sleep tracking to stress management is expected to push the growth of wearable camera market
Medical and Fitness industry has been witnessing growing need for digital medical records and fitness tracking among individuals. Fitness applications hold substantial share of the global market. Growing use of connected wearables and the high demand to track various healthcare parameters are expected to drive the growth of the market during the forecast period. Various leading brands such as Fitbit, Garmin and Apple are offering various fitness trackers with many varied options. Moreover, consumer’s growing desire to digitize their medical records is expected to drive the wearable cameras market during forecast period.
Growing prevalence of chronic diseases is expected to push the demand for wearable cameras during the forecast period
Growing prevalence of chronic diseases is expected to push the growth of wearable cameras market as this is frequently used to capture health-related behaviours. Moreover, these are widely used to track parameters such as diet, exercise, and sedentary behaviours. In addition to this, data collected from these cameras is used effectively to analyse various healthcare parameters and understand the self-management of chronic diseases. Also, other factors such as rapid urbanization and rise in per capita income levels are expected to push the adoption of wearable cameras across the globe.
Key players in the market are raising significant funds to offer new upgraded variants in the market
Key market players are raising millions in funding rounds to offer upgraded variants in the market. Also, the market has been witnessing recent technological developments such as surge in use of artificial intelligence and automation.
- In 2021, Dublin-based tech Company RedZinc had raised €300,000 through Spark Crowdfunding to expand its wearable camera technology for the healthcare industry.
- This camera can be worn by medical professionals and paramedics to livestream video to remote experts
- Similarly in 2022, Veo, AI sports camera start-up based in Denmark had raised US $ 80 million in a series C funding round. Moreover, the company
Also, the key companies are focusing on upgradation of existing cameras available in the market. Also, market players are launching innovative cameras such as a three-axis brushless gimbal camera with an ultra-light wearable, built-in speaker, face tracking, and five-way joystick.
- For instance, Ulefone had launched a new Night Vision Camera. This is a highly portable device which comes as an accessory to the smart phone. This can be used as a wearable body camera that can be easily fitted into the jacket or belt, back pocket, etc.