Global Underwater Fishing Cameras Market By Type (DSLR Underwater Cameras, Mirrorless Underwater Cameras, and Other Types), By Application (Personal, Commercial, and Other Applications), By Distribution Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Underwater Fishing Cameras Market size is expected to be worth around USD 18.10 Billion by 2032 from USD 5.1 Billion in 2022, growing at a CAGR of 13.90% during the forecast period from 2023 to 2032.

The underwater fishing cameras are specialized cameras that are waterproof and can be used beneath the surface of the water to capture images and videos of fish. In addition, underwater fishing cameras have several features, such as LED lights for illumination and high-resolution image and video capturing capabilities.

The market growth of underwater fishing cameras is mainly influenced by their increasing use in commercial applications such as shooting movies, documentaries, underwater sports, and education & research to capture the subject from underwater. Furthermore, the development of the travel & tourism sector is also anticipated to fuel the market growth of underwater fishing cameras.

Driving Factors

The increased popularity of underwater photography on social media platforms drives market growth

As social media is a great platform for photographers to share images and videos with people around the world, underwater photography has become a continuously growing trend. Instagram, Facebook, and social media platforms have significantly gained popularity among adventure enthusiasts. Moreover, underwater photography is most popular among scuba divers, snorkelers, and swimmers.

Also, these cameras are being used increasingly by marine scientists, photojournalists, and professional underwater photographers. Such factors are expected to boost market growth during the forecast period. Furthermore, the lifestyle of the consumer has changed to be more active, which can be seen through the significant increase in adventure sports.

Restraining Factors

High costs and limited battery life hamper the market growth

The higher costs limit the adoption of underwater fishing cameras as individuals are more budget-conscious. Moreover, the competitive pricing of underwater cameras among the key players makes the market highly competitive, thereby leading to poor quality offerings.

In addition, underwater fishing cameras require more battery life to operate, but as these cameras offer limited battery life, it can be a challenge for individuals who are highly involved in underwater fishing sessions and activities for a longer duration. These factors restrict the market growth of underwater fishing cameras.

Growth Opportunities

Rising demand for 3D underwater cameras

Rapidly increasing new innovative technologies such as 3D technology and integration of AI in underwater cameras are expected to offer several growth opportunities. In the fields of marine research, deepsea mapping, and 3D movies, the 3D underwater camera has gained huge popularity. The design of the 3D underwater camera is done in such a way as to operate in the 3D reconstruction of underwater scenes as well as objects for structural inspection, archeology, and seafloor mapping.

Moreover, the 3D underwater camera is largely used to map the sea bed, monitor fish stocks, and detect the marine population. Such features of 3D underwater cameras are expected to propel the market growth of underwater fishing cameras in the near future.

Trending Factors

New AI algorithms to provide distortion-free images for improved marine life research

The rising demand for underwater cameras that offer individuals distortion-free images is the key trend in the global underwater fishing cameras market. Therefore, researchers are constantly innovating AI algorithms that provide clear, colorful images in underwater cameras. This introduction of new algorithm systems is likely to generate curiosity among the marine life science community and marine life researchers.

Hence, the major companies are increasing the research and development activities in underwater cameras that offer photos with true colors helping marine life researchers to gain a lot more worth out of the current data sets. Thus, they are focused on increasing their efficacy in theoretical as well as experimental research activities.

Type Analysis

DSLR underwater cameras held the largest revenue share in 2022

Based on type, the market for underwater fishing cameras is segmented into DSLR underwater cameras, mirrorless underwater cameras, and other types. Among these types, the DSLR underwater cameras segment dominated the global market in 2022 owing to the rising demand for this product.

A DSLR camera is an advanced type of digital camera providing manual control options, better performance levels, and high-level image quality. In addition, the increasing trend toward photography positively drives segment growth.

Application Analysis

The commercial segment accounted for the largest market share in 2022

By application, the market is further divided into personal, commercial, and other applications. Among these applications, the commercial segment dominated the global underwater fishing cameras market with the highest revenue share in 2022.

This segment expansion can be attributed to the increasing demand for underwater sports, such as scuba diving, swimming, and snorkeling. Moreover, the shooting of documentaries on the surrounding environment of underwater species is expected to surge the market growth during the forecast period.

Distribution Channel Analysis

The offline stores dominated the global underwater fishing cameras market in 2022

Based on distribution channels, the market is segmented into online platforms and offline stores. Among these distribution channels, offline stores accounted for the largest market share in 2022. The major driver behind this growth is the camera professionals who prefer to buy these expensive and high-end gadgets from the offline store for better services, a guarantee of product quality, and reliability.

Moreover, the offline stores solely focus on underwater cameras that help the consumers to buy products that suit their individual needs. Furthermore, the product sold at offline stores limits the risk of fraud and the sale of duplicate products. They also offer more personalized services through sales staff appointed at the store.

Key Market Segments

Based on Type

• DSLR Underwater Cameras
• Mirrorless Underwater Cameras
• Other Types

Based on Application

• Personal
• Commercial
• Other Applications

Based on the Distribution Channel

• Online Platforms
• Offline Stores

COVID-19 Impact Analysis

COVID-19 negatively impacted the global underwater fishing camera market

COVID-19 has brought the effects such as restrictions on outdoor events, travel bans, quarantines, and other effects which limited the sales of underwater fishing cameras.

In addition, the travel restrictions, disruption of supply chain management, and slowdown in underwater sports and adventures also led to the decreased sales of underwater fishing cameras. However, the market potentially recovered after the world reopened from restrictions.

Regional Analysis

North America held the highest revenue share in 2022

Based on region, the market for underwater fishing cameras is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market with the highest revenue share in 2022. This significant market growth can be attributed to the supportive research & development and deployment of high-quality cameras. In addition, the market growth is also influenced by advanced technology in this region.

The United States has well-established technology in this region. Moreover, the growing installations in aquariums and natural water bodies are anticipated to boost the market growth of this region during the forecast period. For instance, the Seattle Aquarium uses the Splashcam range of underwater cameras for educating the students. This camera provides insights into the behavior of rare species.

Global Underwater Fishing Cameras Market Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis

Emerging key players in the global underwater fishing cameras market are highly focused on several strategic policies to develop their portfolio and increase their presence in foreign markets. Several underwater fishing market companies are concentrating on the expansion of their existing operations.

Furthermore, the businesses in the underwater fishing cameras market are involved in developing new products, increasing investments, collaborations, partnerships, new product launches, mergers & acquisitions, and competitive pricing. In addition, several key players are currently focusing on different marketing strategies to increase the sale of their target products, thereby propelling market growth.

Market Key Players

Listed below are some of the most prominent underwater fishing camera industry players.

• Canon Inc.
• Nikon Corporation
• GoPro, Inc.
• Panasonic Holdings Corporation
• Sony Group Corporation
• Fujifilm Holdings Corporation
• OM Digital Solutions Corporation
• The Ricoh Company, Ltd.
• Shenzhen Zhiyong Industrial Co., Ltd.
• Scale Aquaculture AS
• Other Key Players

Key Industry Developments

• In March 2023, Innovasea developed a New tagless fish detection technology based on Artificial Intelligence. This will help to bring the task of fish counting into the 21st century.
• In October 2019, the “FUJIFILM X-Pro” 3a mirrorless camera was launched by FUJIFILM Corporation, a Japanese multinational imaging company. It is lightweight and has both optical and electrical viewfinders.

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