A 4K live streaming is a technology that allows a person to record, watch and share the video with the display resolution of 4,000 pixels in real-time. Streaming is the way of data transmission in real-time without being pre-recorded or edited. 4K live-streaming wearable cameras are widely being used in the sports and adventure, security, and healthcare sector. The demand for these cameras has been boosted since 2016, as the live streaming activities have exponentially increased from the mid of 2015. The social media platform became one of the biggest sources for live streaming content.
Public figures and Big brands started interacting and promoting themselves through live streaming on the platforms such as YouTube, Facebook, and Instagram. The 4K live-streaming wearable camera seems to be in demand in the upcoming years. As the wearable cameras deliver a better experience with features such as hand-free operations, which is one of the factors driving the growth of the 4K live-streaming wearable camera market.
The availability of internet connectivity all over the world and the massive number of people using the different online platforms and apps, motivating the consumer to appreciate the 4K live-streaming wearable camera technology. Establish players of the market are spending a huge amount on the R&D for the advancement of the products as convenience and responsiveness are the major factors driving the demand for 4K live-streaming wearable cameras.
The interest in live streaming is increasing among people, as today’s generation prefers watching live videos over reading posts or blogs. Brands have started promoting their products with live streaming recently. Adding to this, the major events and show got canceled that led them to live streaming options increasing the huge number of the activities globally.
During the lockdown period, the OTT users and the content creators have also been increased significantly. As wearable cameras provide a unique first-person video it has been in demand by these content creators also, which is expected to propel the growth of 4K lives streaming wearable camera market.
The demand for the live-streaming wearable camera is rising in the industries such as travel and tourism industry, and the sport and adventure industry. The travel and tourism companies are using the live streaming wearable camera to broadcast live experiences of place/destination with the first-person view to attracting more customers. The first-person view of the photo/video is more appreciated by the viewers.
The live-streaming wearable camera has a great scope in hidden surveillance which is why its demand is increasing among security agents, law enforcement agencies, and private investigators. The emerging trend of using body wearable live streaming cameras by police authorities is one of the key factors raising the demand for 4K live-streaming wearable cameras.
The 4K live-streaming wearable camera has the limitation of battery life. As the battery power drains much faster and does not hold the charge for a longer time. This is one of the major factors holding the growth of the wearable camera market.
People are more concerned about the battery backup offered by the live streaming wearable camera and the time duration of the performance in a single charge. Some of the device manufacturers set vague policies that allow the manufacturer to get full authority over the consumer’s data. This is also restraining the growth of live streaming wearable cameras.
Internet connectivity has reached almost all the countries over the world, tapping the potential customers from developing countries. The rise of the live streaming platform is offering marketers opportunities to interact with potential buyers from an untapped market. The live streaming industry is growing at a faster rate in the developing countries which offers good opportunities for the major market player as well as the new entries in the 4K live-streaming wearable camera.
As per the product, the market for 4K live-streaming wearable cameras is segmented into three main groups, head-mounted, body-mounted, and ear-mounted or smart glass. Research shows that the head-mounted segment is most such asly to dominate the market during the forecasted period. The demand for the head-mounted camera is rising from adventure sports streaming. The head-mounted cameras have also been used in industrial applications, which are also driving the demand for this segment.
The body-mounted wearable camera will also witness significant growth in the upcoming years as this segment is more appreciated by law-enforcing authorities and security applications. For example, the body-worn camera used by the security agents can be hidden which allows recording the public interaction, collecting the video information from the crime scene, etc.
Based on the application the market is divided into four segments, sports and adventure, security, healthcare, and industrial. Among which the sport and adventure are predicted to dominate the market in the forecasted period. The 4K live-streaming wearable camera is being popular in the various applications of sports and adventure. For example, goalies, referees, catchers, and umpires are wearing live streaming cameras to record the game from various angles.
The demand for the 4K live-streaming wearable camera is increasing in adventure sport also as the skydivers, surfers, riders, and skiers are using this camera to share their experience through the first-person view video. Healthcare is also one of the emerging sectors to appreciate the live-streaming wearable camera and more such asly to grow the demand of the market.
Wearable cameras are being used in chronic disease management by providing the contextual data and insights of everyday helps in a critical component of this disease such as self-management. As an example, a wearable camera can provide the nutritional details of the various types of food with the help of image processing. The security industry can also witness significant growth as the wearable camera is because of the increasing demand by the law-enforcing authorities and private investigators.
COVID-19 has affected the global economy by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. But in the case of live streaming, the outbreak of the coronavirus had a positive impact on the industry. As a result of lockdown to avoid the spread of COVID-19 implemented by many countries, live streaming activities have increased by nearly 50% during the quarantine period than the pre-quarantine.
As people started accepting social distancing, live streaming became the preferred option for social interaction. The big events and concerts started streaming live which indirectly increase the demand for the 4K live-streaming wearable cameras with all the other equipment. For example, the major sports leagues such as the UEFA football league and Indian Premier League were played without the audience. The adventure sports organized by companies such as Redbull also streamed live without the actual audience.
The global photo booth market has been analyzed across four key regions – North America, Europe, Asia-Pacific, and LAMEA. Among all countries across regions, the North America region is expected to ample the growth of the market as many wells establish players of the market and the huge consumer base comes from the same region.
North America has contributed the largest share of the total revenue generated globally and is predicted to grow further in the forecasted period. Along with North America, the Asia-Pacific and Europe region are expected to hold a large share of revenue generated in the upcoming years.
Asia-Pacific region has been witnessing significant growth in disposable income, which is allowing the region to own lesser commodity prices. China is emerging with the innovative solution for the 4K live-streaming wearable camera at a lower price compared to other countries, which is also driving the growth of the market in the Asia-Pacific region.
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In August 2020, GoPro launched a live streaming service for plus subscribers. With the launch, the GoPro action camera users can now stream their treks, diving live on the website rather than using third-party platforms such as YouTube.