Shoulder Camera market will grow at a CAGR of 6.80% from 2023-2030: Cognitive Market Research
Introduction of?Shoulder Camera
The shoulder camera market refers to video cameras placed on the shoulder for flexible and dynamic filming. Its growth is propelled by the increasing demand for professional videography in events, news coverage, and filmmaking. The growing need for flexible and portable camera setups, which provide videographers greater flexibility and control, is a significant driver for this industry. As technology progresses, shoulder cameras continue to increase functionality, picture quality, and networking possibilities. These factors together contribute to the growing industry as professionals and enthusiasts seek innovative solutions for high-quality video creation.
For instance, in April 2019, Wooden Camera introduced the Shoulder Rig v3, a significant upgrade to Wooden Camera's well-received Shoulder Rig, now available at a reduced price.
Key Insights from Shoulder Camera Market Report
The Global Shoulder Camera market will grow at a CAGR of 6.80% from 2023 to 2030.
Expansion of Private Videography is Driving the Growth of the Market
The market for shoulder cameras is experiencing significant growth driven by the expansion of private videography. Individuals increasingly engage in personal video content creation for various purposes, such as blogging, events, and social media; there is a rising demand for versatile and user-friendly shoulder camera solutions. This trend is fuelling the market's expansion as consumers seek professional-grade equipment to enhance the quality of their video productions. The accessibility of shoulder cameras, their sophisticated features and comfortable designs, and the rising excitement for private filmmaking added to the shoulder camera market's overall favorable?trend.
For instance, in September 2019, Panasonic showcased its innovative AJ-CX4000GJ broadcast shoulder mount 4K camera at IBC 2019, introducing several PTZ camera milestones and a diverse range of 8K technological innovations.
The shoulder camera market is experiencing robust growth, driven by the growing popularity of live streaming and event coverage. As live streaming and event broadcasting become integral parts of various industries, the demand for high-quality shoulder cameras has surged. Content creators, broadcasters, and videographers seek versatile, portable solutions to capture dynamic and engaging footage. The shoulder camera market responds to this trend by offering advanced features, improved connectivity, and ergonomic designs. The growing preference for on-the-go and real-time content creation is a key driver propelling the market's expansion, reflecting the industry's dynamic evolution in response to changing consumer demands.
For instance, in April 2023, Axon introduced its next-generation body-worn camera, Axon Body 4, with key upgrades, expanded communications ability, more points of view, upgraded camera features, and more streamlined operations.
Market dynamics of the?Shoulder Camera Market
The shoulder camera market faced hindrances in its growth trajectory due to intense competition from mirrorless cameras and drones. As consumers and professionals increasingly explored alternative and technologically advanced options, the market experienced challenges maintaining its growth momentum. Mirrorless cameras and drones, offering compact designs and innovative features, emerged as formidable contenders, diverting market share. The demand for more portable and versatile solutions affected the traditional shoulder camera segment.
Impact of the COVID-19?on the?Shoulder Camera Market
The COVID-19 pandemic? had a significant effect on the Shoulder Camera Market. Due to global lockdowns, manufacturing halts, and limited gatherings, demand for shoulder cameras fell drastically. The film and television industries were impacted, resulting in project delays and decreased expenditures on?video production equipment. Furthermore, economic uncertainty caused many consumers and organizations?to cut down on non-essential spending, reducing total market demand for shoulder cameras. Supply chain interruptions and manufacturing issues compounded the effect, requiring product introductions and availability to be delayed. The market eventually regained when constraints were lifted, and material development began, but the initial impact of the pandemic was significant.
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Competitive Landscape of the Shoulder Camera Market
The major players rapidly evolve with new strategies to attain a competitive edge and capture significant market share. The major shoulder camera market participants emphasize expanding creative offerings to serve a large consumer base and gain a competitive benefit.
Shoulder Camera Industry news
In October 2021, Sony launched its AITRIOS? edge A.I. sensing platform in late 2021 in Japan, the U.S., and Europe. The company invited corporate partners to contribute to developing A.I. camera-driven and other sensing solutions using the platform.
Top Companies Market Share in Shoulder Camera Industry:
Shoulder Camera Market Analysis
Type Segment Analysis
According to Cognitive Market Research, FHD (Full High Definition) held the major market share over the forecast period due to lower cost, mature workflow, and sufficient quality. FHD cameras are generally affordable, making them accessible to a wider range of broadcasters, production companies, and independent creators. Infrastructure and FHD editing, broadcasting, and distribution procedures have already been developed, reducing possible technological challenges and expenses. FHD video provides acceptable clarity for various applications, especially when viewing distance and screen size are considered.
The UHD (Ultra High Definition) is the fastest-growing segment over the forecast period due to rising need for higher resolution. Viewers have become dependent on high-quality pictures, and UHD fulfills this growing demand. UHD camera prices are decreasing, and technological advancements are making them more user-friendly and efficient. Investing in UHD technology prepares companies for future broadcasting and distribution standards, likely to increasingly favor higher resolutions.
Application Segment Analysis
According to Cognitive Market Research, the commercial segment holds a prominent market share as broadcasters, production companies, and event organizers often need the stability, features, and image quality of high-end shoulder cameras for professional productions. Commercial entities typically have larger budgets dedicated to equipment than individual videographers, allowing them to invest in professional shoulder cameras. Shoulder cameras provide portability and flexibility for diverse shooting scenarios, making them well-suited for commercial projects.
The private segment is the fastest growing over the forecast period, as the increased popularity of travel filmmaking, blogging, and personal documentary-making has driven demand for high-quality cameras accessible to individuals. Smaller, lighter, and more affordable shoulder camera options are emerging, catering to the needs of private users. Online platforms showcasing stunning videography inspire individuals to invest in equipment replicating professional quality, driving the demand for private segment shoulder cameras.
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In terms of revenue, the North America Shoulder Camera Market share was 40% of the total market
According to Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue, owing to the region's burgeoning film and television industry, coupled with the rising trend of content creation for online platforms, has fueled the demand for advanced video production equipment. Additionally, the increasing adoption of shoulder cameras in news reporting, events, and documentary filmmaking has expanded the market. The region's technological infrastructure and the constant pursuit of high-quality video content have further propelled the growth of the shoulder camera market in North America.
Europe is the fastest-growing region in the shoulder camera market, driven by several key factors. The region's booming media and entertainment industry and rising demand for professional video production equipment have aided market development tremendously. The rising use of shoulder cameras for many purposes, such as sports coverage, broadcasting, and documentary-making, has fueled the expansion.
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