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The gyro cameras market size is forecast to increase by USD 4.19 billion at a CAGR of 14.28% between 2023 and 2028. The market has experienced significant growth in recent years, aligning with the increasing trends of adventure tourism and the widespread use of social networking sites. These technologies have revolutionized the way we capture and share experiences, leading to a surge in demand for gyro cameras. Gyro cameras offer advanced stabilization features, enabling users to record high-quality videos and images in extreme conditions or while engaging in adventurous activities. The integration of gyro cameras with social media platforms has further fueled their popularity, allowing users to share their experiences with a wider audience in real-time. As social networking continues to grow and adventure tourism becomes more accessible, the gyro camera market is poised for continued expansion.
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The market is witnessing rapid growth, driven by the integration of VR and optical image stabilization in electronic devices like portable devices and automobile rollover detection systems. Market expansion is supported by promotions and insights from market research reports, aiding vendor selection for manufacturers and the military sector. Innovations like MEMS gyroscope technology from Bosch Sensortec enhance precision in occupant detection and adventures tourism applications. Additionally, the market benefits from collaborations with ideation communities, catering to diverse sectors, including gaming, film and broadcasting, while also facilitating advancements in satellite navigation technology. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The popularity of social networking sites is a key factor driving the growth of the global market. One of the major drivers for the sales of gyro cameras is the growing popularity of social networking sites. Customers use social networking sites to share their experiences captured through these cameras. Over a billion unique users visit social media sites such as Facebook, Twitter, Instagram, and YouTube every month. The target audience is also growing with the growing number of social networking site users. Technological advances and online media communities have made digital photography and videography more accessible to consumers. The proliferation of social networking sites has changed the way customers interact with brands. The capability of smart cameras to instantly share media content on social networking sites and platforms has increased the demand for gyro cameras.
Various brands are taking advantage of the growing popularity of social media and are promoting their brands through content promotion. For instance, GoPro, a leading vendor, has partnered with Comcast to deliver GoPro content to a diverse audience ranging from adventure enthusiasts to animal lovers. GoPro has a dedicated YouTube channel to promote its content to connect with viewers. GoPro has multiple content delivery partners, which include Comcast and Watchable. Hence, the growing popularity of social media sites is driving the growth of the market during the forecast period.
The use of drone gyro cameras for sports is the primary trend in the global market growth. The use of consumer drones with gyro cameras for sports is increasing with its growing popularity. Mountain Dew, a carbonated soft drink brand produced and owned by PepsiCo, and DR1 Racing organized a drone race. The event used 12 of the world's top drone-racing pilots. The pilots controlled the drones from the top of the dam and maneuvered them around a large number of obstacles while flying them at speeds of more than 75 miles per hour. The race consisted of various heats, qualifiers, and finals over the course of two days.
The race was sponsored by Mountain Dew and was broadcast globally through international sports networks like ESPN and the International Drone Racing Association. They broadcast the event live on cable TV. A one-hour broadcast aired on Discovery Communication's Discovery and Science channels. With broadcast deals signed with renowned sports networks and cup competitions, drone racing has become one of the primary factors driving the demand for consumer drones with gyro cameras. These factors will positively impact the growth of the market during the forecast period.
The popularity of smartphones is a major challenge to the growth of the global market. The sales of mobile devices, such as smartphones and tablets, have increased because they have become more affordable for consumers. Consumer electronics manufacturers are selling smartphones that are integrated with high-end features at affordable prices. These smartphones are equipped with high-end cameras that act as easy replacements for gyro cameras. Such phones attract the middle-class population, especially in countries like China, India, and other developing countries. One of the important features of smartphones is their cameras.
End-users are increasingly using smartphones to capture images and videos because of features like better image quality and optimum audio and video quality. Though smartphones are not direct substitutes for gyro cameras, they pose a threat because they are used by the majority of the population. This has made gyro cameras a niche product in the image-processing technology market. The advanced features in smartphones are expected to negatively impact the sales of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ascent Vision Technologies LLC - The company offers gyro cameras such as CM142 ISR and Target acquisition. Also, they specialize in gyro-stabilized imaging systems, fully integrated solutions, and innovative software for ISR.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the media and entertainment segment will be significant during the forecast period. In the media and entertainment sector, gyro cameras are primarily used for filming and aerial photography. They are used to take photos and shoot videos and films from all possible angles, which would otherwise require multiple cameras. Gyro cameras have been used in Hollywood movies like Captain America: Civil War, Jurassic World, and Spectre. The gyro cameras are used in various shows as well. Such factors will increase the market growth during the forecast period.
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The media and entertainment segment was valued at USD 1.79 billion in 2018 and continue to grow by 2021. Gyro cameras are widely used for entertainment and photography. Broadcasting companies are introducing new ways to enhance the coverage of various events, especially sports events, and wildlife. In addition, many companies are willing to adopt the latest technologies to improve TV series, movies, games, and advertisements, which will increase the market growth during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market growth and trends that shape the market during the forecast period.
The market growth is driven by the high popularity of gyro cameras in North America. The growth in the region is also driven by the high per capita disposable income of the population. The increased spending capability of consumers in North America, especially in the US, has led to the region being an early adopter of gyro cameras. A large percentage of the population can easily afford gyro cameras, and the majority of the companies are based in this region.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market experiences significant growth, fueled by factors such as automotive electronics content integration in vehicles by automobile manufacturers, alongside advancements in automotive sensors like tire pressure monitoring and electronic stability. Collaborations with ideation communities drive innovation, catering to diverse outdoor activities like triathlon, adventure racing, and snowboarding. Additionally, the market benefits from the rising popularity of skincare products, including Gel beauty facial mask, enriched with nourishing ingredients like antioxidants for a cooling sensation and reduction of inflammation. Critical stakeholders assess the market's cost structure and gross margin, evaluating the feasibility of investments and its developmental scope amidst shifting macroeconomic factors and global military spending, as observed by organizations like SIPRI.
Furthermore, the Market thrives on innovation fostered by collaboration with the ideation community, catering to enthusiasts of outdoor activities such as freestyle skiing, climbing, trekking, and bicycling. In parallel, the market responds to the rising demand for skincare products, including gel beauty facial masks, offering nourishment through active ingredients. These trends reflect growing consumer interest in both adventure sports and skincare products, driving the development of gyro cameras
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Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.28% |
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Market growth 2024-2028 |
USD 4.19 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
12.2 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 35% |
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Key countries |
US, UK, China, Germany, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ascent Vision Technologies LLC, Axis Communications AB, DELAIR SAS, Foshvision Technology Co. Ltd., GoPro Inc., Guangdong Aircraft Industrial Co. Ltd., Gyro Stabilized Systems LLC, Infiniti Electro Optics, Israel Aerospace Industries Ltd., Kenyon Laboratories LLC, Leptron Unmanned Aircraft Systems Inc., Merio UAV Payload Systems, Parrot Drones SAS, PrecisionHawk Inc., Squadrone System, SZ DJI Technology Co. Ltd., Teledyne FLIR LLC, Udirc Inc., Walkera, and Yuneec International Co. Ltd. |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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