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Camera Tripods Market Scenario
Camera Tripods Market size is projected to reach approximately USD 407.2 Million by 2027, at a CAGR of 2.94% from 2020 to 2027. A camera tripod has three legs and is used to hold cameras in position and keep it steady. Tripods come in various sizes and are used with regard to the weight of the camera to be held. For instance, if the tripod is too small, it will not hold and support a camera adequately. Major parts of a camera tripod include legs, head, and a plate. The head helps in moving the camera while the plate is where the camera is mounted. The legs distribute the weight evenly among them to balance the camera. The prime factors driving the demand for camera tripods are the growing inclination for professional photography and the popularity of social media. Consumers use social media to write blogs and upload their creative photographs of landscapes and portraits. This is driving the sales of camera accessories, including tripods. Most of the camera tripods are portable in nature and provide ease of carrying while traveling is further aiding to the sales of camera tripods across the world. However, high product cost and the growing number of local brands offering counterfeit and inferior quality products may hinder the Camera Tripods Market growth during the forecast period.
The impact of COVID-19 has directly affected the distribution and sales of different products across industries. Many countries are under lockdown and have sealed their borders to curb the spread of the virus. The impact of COVID-19 on logistics has disrupted the supply of raw materials, which has further resulted in reduced production capacity and, thus, product shortages. These factors are expected to cause a price rise in camera tripods in the short run. Moreover, different governments worldwide are limiting access to tourist spots and public gathering places to control the spread of the virus. Due to this scenario, outdoor photography has become a challenge leading to hindered sales of camera tripods globally. However, the gradual relaxation of government norms will encourage consumers to restart tourism and outdoor photography and increase the sales of Camera Tripods Market in the near future.
Global Camera Tripods Market has witnessed high growth in recent years. The growing adoption of photography as a profession has majorly boosted the global camera tripods market in 2019. Camera tripods offer a pool of benefits to consumers. A few of the benefits associated with camera tripods are that it helps in absorbing vibration while clicking pictures and defines different camera angle shots. However, the presence of the unorganized retail sector in emerging economies is projected to curb market growth. Also, various advantages of private labelings, such as reduced competition and increased margins, are expected to hamper market growth during the assessment period.
Camera tripods are portable and can be carried on-the-go.
- High Influence of Social Media and Blogging: The growth of social media has been rapid over the last five years. The majorly used social media platforms such as Facebook and Instagram have influenced to a great extent. Professional photographers use social media for marketing their work, ensure that their creative side is visible within the online community, host online exhibitions, as well as attract clients for business growth. Increasing use of social media to promote photography skills is pushing the growth of the camera tripods market to an extent.
- Convenient Usage
- Growth of the Organized Retail Sector in Developing Countries
By Product Type
- Studio: This segment accounted for the largest market share in 2019 and is projected to grow at a moderate pace during the forecast period. Photography as a profession dates back to the 19th century and the constant demand for photos around the world, images of celebrities, landscapes, ildlife, sporting events, and all other human activities. This is driving the popularity of professional photography. Professional photographers have studios which is a workspace to take, develop, print, and duplicate photographs. Tripods used in studios are generally strong, sturdy, and heavy. Studio tripods are the best tripods to be used for photography. However, its lack of portability is lowering its sales numbers across the globe.
By Distribution Channel
- Store-Based: The majority of the Camera Tripods Market are sold through store-based retailers since stores offer the facility of touch and feel followed by a product demonstration. This segment has been further divided into supermarkets & hypermarkets, specialty stores, and others. The supermarkets & hypermarkets segment dominated the market in 2019.
- North America: North America dominated the global camera tripods market in 2019. High product awareness and a strong inclination for capturing landscapes, moments, and portraits have influenced the need for camera accessories. The growing media and entertainment industry in the region, photoshoots of popular personalities, and increasing sale of professional cameras in the region have further aided the growing demand for camera tripods in the region.
- Asia-Pacific: Asia-Pacific is a new revenue pocket for the camera tripods market. The growing population in China and India has created an opportunistic market for the existing players. Increasing awareness among consumers about personal hygiene and product benefits is driving the growth of the market in the region. Moreover, Celebrities flaunting their photography skills on social media followed by the growing tourism industry in the region have further aided the regional market growth in 2019.
- Rest of the World
Key Players Camera Tripods Market
- The Vitec Group plc (Italy)
- Really Right Stuff (US)
- Induro Gear (US)
- Feisol Inc. (US)
- Gradus Group LLC (US)
- 3 Legged Thing LTD (UK)
- in (India)
- Vanguard World, LLC (US)
- SLIK Corporation (Japan)
- Zomei (China)
USD 407.2 Million
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Product Type, Distribution Channel, and Region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
The Vitec Group plc (Italy), Really Right Stuff (US), Induro Gear (US), Feisol Inc. (US), Gradus Group LLC (US), 3 Legged Thing LTD (UK), in (India), Vanguard World, LLC (US), SLIK Corporation (Japan), and Zomei (China)
Key Market Opportunities
Growing adoption of photography as a profession
Key Market Drivers
High Influence of Social Media and BloggingConvenient UsageGrowth of the Organized Retail Sector in Developing Countries
Camera Tripods Market Highlights:
Frequently Asked Questions (FAQ) :
The Vitec Group plc (Italy), Really Right Stuff (US), Induro Gear (US), Feisol Inc. (US), Gradus Group LLC (US), 3 Legged Thing LTD (UK), in (India), Vanguard World, LLC (US), SLIK Corporation (Japan), and Zomei (China) are some of the top players in the global camera tripods market.
Camera tripods market CAGR would be 2.94% during the forecast period.
Camera tripods market is estimated to reach USD 407.2 million by the year 2027.
North America holds the largest share in the global camera tripods market.
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