Camera Straps Market Size, Share, Growth, Trends and Industry Analysis Report, 2019 to 2025
by Susan Hill Business ConsultantThe
global camera straps market size is expected to reach USD
329.8 million by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 3.7% over the forecast period. Rising scope for
photography in various sectors such as entertainment and media, tours and
travel, wedding, and sports is expected to promote the scope for straps.
Furthermore, growing demand for the premium camera at the global level as a
result of new product launches by camera manufacturers including Canon and
Nikon is expected to promote the utility of straps for providing fall
protection over the next few years.
The
commercial segment was the largest application segment with a revenue of USD
148.8 million in 2018. Professionals prefer to use high quality straps for
comfortable photoshoots. Increased deployment of professional photographers for
wedding, party, and birthday is expected to play a crucial role in promoting
the use of camera straps. Additionally, increasing number of free-lance
photographers at the global level is expected to expand the scope for various
accessories including straps over the next few years.
Online
channel is expected to be the fastest growing segment with a CAGR of 4.7% from
2019 to 2025. These channels are providing huge discounts, cash on delivery
options, and doorstep delivery services. Amazon and Flipkart are some of the
e-commerce portals that offer a wide range of products to the consumers. Moreover,
some online retailers are providing membership plans for ensuring the long term
engagement with the customers.
Asia Pacific
is the fastest growing region, expanding at a CAGR of 5.1% from 2019 to 2025.
Growing disposable income of the middle class population in India and China is
expected to drive the consumers to spend on camera and accessories during tour
and travels. Shifting trend towards pre-wedding and post-wedding photoshoots
among millennials’ in countries including China and India is expected to expand
the utility of camera straps over the next few years.
Some of the
key players operating in camera straps market are SAMSUNG, Fujifilm Holdings
Corporation, BlackRapid, gordy's camera straps, Tethys, Altura Photo,
BESTTRENDY, Clo's General Leather Co., Movo Photo, and OP/TECH USA. Major
companies are focusing on product innovation and development to cater to the
dynamic requirements of the buyers. The industry participants are providing
leather, nylon, and fabric straps, which are comfortable and provide strong
grips to the consumers.
Further key
findings from the report suggest:
- The commercial
application segment of camera straps market generated a revenue of USD
148.8 million in 2018 owing to demand for professional photographers in
wedding, sports, and small events. The personal segment is expected to
register a CAGR of 4.1% from 2019 to 2025
- Offline channel
generated a revenue of USD 203.3 million in 2018. Online channel is
expected to expand at a CAGR of 4.7% from 2019 to 2025
- Asia Pacific is the fastest growing region with a CAGR of 5.1% from 2019 to 2025 as a result of increasing sales of premium digital cameras in countries including China and India.
Access full
research report on global camera straps market:
www.grandviewresearch.com/industry-analysis/camera-straps-market
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Created on Oct 17th 2019 09:14. Viewed 439 times.