Report : Electronic Camera Stabilizer Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Body Mounted and Hand Held); Distribution Channel (Offline and Offline); Application (Cinema Camera, DSLR, Action Camera, and Smartphones)
Increasing Demand for HandheldStabilizers to Lead Electronic Camera Stabilizer Market Growth at 8.0%CAGR during 2020–2027
According to our latest market study on “Electronic Camera Stabilizer Market to 2027 – COVID-19 Impact and Global Analysis and Forecast –by Type (Body Mounted and Handheld); Distribution Channel (Offline and Online); Application (Cinema Camera, DSLR, Action Camera, and Smartphones), and Geography” the market was valued at US$ 917.3millionin 2019 and is projected to reach US$ 1,627.7millionby 2027; it is expected to grow at a CAGR of 7.6% from 2020 to 2027.The report highlights the key factors driving the market growth, and prominent players and their key developmentsin the market.
Over the past few decades, the global entertainment and media sector has experienced significant growth, which can be attributed to the increased production of different genres of video content on both TV and big screen. Rapid technological changes, consumer behavior, and business models have changed the consumer preference pertaining to experience and payment for entertainment and media channels. The leaders in this industry thus concentrate on establishing consumer-oriented businesses and brands to produce content in outstanding quality. As a result, they spend/invest on technologies and equipment such as computer generated image (CGI) and visual effects (VFX), as well as on different cameras and peripherals, including camera stabilizers. There has been an increase in the amount of online content in the past few years. This is due to the increased penetration of the Internet and the impact of social media on consumers. The surge in the average surfing time has made platforms such as YouTube and Instagram profitable, and this has led to a huge competition among content creators. To stay ahead in the competition, content creators have started investing heavily in cameras and peripherals, such as camera stabilizers, to deliver high-quality content. Nevertheless, the use of camera and camera peripherals is not limited to the entertainment and media sector; camera stabilizers are being profoundly used in the event industry owing to the increased affordability of cameras and their accessories, and growing consumer expectations for superior video quality. People are spending heavily on capturing wedding ceremonies with high-quality video recordings. Therefore, the event management industry players have started investing in high-quality camera equipment to address this demand. This is, in turn, driving the growth of the global camera stabilizer market.
The global market for electronic camera stabilizers is inherently highly fragmented. The presence of well-established players, coupled with the entry of new players from emerging economies such as India, is expected to intensify the competition in the electronic camera stabilizer market. edelkrone, Glidecam Industries, Inc., Gudsen Technology Co., Ltd., Ikan Corporation, Letus Corporation, NINGBO EIMAGE STUDIO EQUIPMENT CO., LTD, Rhino Camera Gear, SZ DJI Technology Co., Ltd., Tilta Technology Co., Ltd, and Zhiyun are the key vendors operating in this market. In addition, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the global electronic camera stabilizer market and its ecosystem.
The US ha the world’s largest media and entertainment (M&E) industry. This industry in the US comprises of television programs, motion pictures, and commercials; music and audio recordings; streaming content; broadcast; video games; and ancillary services and products. As per the Entertainment & Media Outlook by PriceWaterhouseCoopers (PwC),for the period 2018–2023, the US M&E industry revenue is anticipated to be more than US$825 billion by 2023. Such predicted development in the M&E industry in the US is likely to boost the electronic camera stabilizer market during the forecast period.
COVID-19 Impact on Electronic Camera StabilizerMarket
The US, Brazil, Russia, India, Spain, Italy, Germany, the UK, and China are among the worst-affected countries due to the COVID-19 outbreak. The outbreak first began in Wuhan (China) in December 2019, and it has now spread across various countries in the world. As per the latest WHO figures, there are total 7.27 million confirmed COVID-19 cases globally with ~413,000 total deaths, and the number is growing at varying rates in different countries. The COVID-19 crisis has affected various industries worldwide, and the global economy is anticipated to face a slump in 2020, which isalso likely to continue in 2021. The effect of COVID-19 on various economies differs on the basis of the spread of infection in those particular countries. As a result, the prevalence of nationwide lockdowns to minimize the transmission of virus has significantly disrupted the supply chain activities as well as production of components, equipment, controller, and raw materials related to electronic camera stabilizers. The lockdown has also imposed restrictions on the shooting schedules in the film and entertainment segment to maintain social distancing. Moreover, the disrupted tourism industry has also imposed limitations on bloggers and content creators.
The report segments the global electronic camera stabilizer market as follows:
By Distribution Channel
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