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Future of imaging business lies in underwater cameras: Report

There will probably be a massive boom in the underwater camera market in near future. The market is expected to reach a value of $15.3 billion by 2027, according to a report.

Pavni Jain | February 10, 2021 | Updated 21:51 IST
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Highlights

  • According to a report, there will be a massive boom in underwater cameras.
  • Right now, the most convenient method to shoot underwater footage is via action cameras.
  • The mirrorless underwater camera segment holds the largest market share due to the portability of the camera, as per report.

First things first, what is actually happening in the world of cameras? First the steady shift from DSLRs to mirrorless cameras. Then the mirrorless cameras notch up 8K video recording capabilities such as Canon EOS R5 and Sony Alpha 1. Second, camera makers coming up with vlog-specific cameras like Sony ZV-1 for content creators. Third, companies putting in efforts to manufacture drones due to its popularity. We earlier reported, Sony revealed the Airpeak drone at CES 2021.

So, what is next? Fior Markets is a self-described futuristic market intelligence company. According to its latest report, there will be a massive boom in underwater cameras. It is expected that the underwater camera market will reach a value of $15.3 billion by 2027.

It is not hard to imagine that the future of imaging business lies in underwater cameras. Many video content creators are always experimenting to bring something new on the table. Right now, the most convenient method to shoot underwater footage is via an action camera. Also, there is a reason why Geneinno, an underwater robotics company, launched its second underwater drone known as Geneinno T1 Pro.

Going back to the report, Fior Markets predicts that the global underwater camera market will grow from $4.8 billion (in 2019) to $15.3 billion (in 2027). "The factors driving the market are the growing demand for underwater cameras for personal use, the implementation of underwater cameras in media & entertainment applications, the emergence of camera rental services, the high demand for underwater sports, and the rising trend of underwater photography on social media feeds," Fior writes.

The one factor that refrain users from buying dedicated underwater cameras is the high cost. With time, camera makers could probably work around cost effective methods to make underwater cameras popular for both commercial and personal uses.

The underwater camera market study further reveals that "The mirrorless underwater camera segment holds the largest market share due to the portability of the camera; the absence of mirrors makes them lighter in weight and are cheaper than other cameras."

Fior says that the notable players in the market are Fujifilm, Olympus, GoPro, Sony, Ricoh, Canon, Panasonic, and Nikon as well as companies such as Brinno, Subsea Tech, Garmin, Steinsvik, and Ocean Systems. While technology is always evolving, even for the cameras, there is a possibility that reports may prove to be true.

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