Market Overview
The Camera Tripods Market Share will reach approximately USD 407.2 Million by 2027 and a CAGR of 2.94 % from 2020 to 2027.
Tripods come in various sizes and are used depending on the weight of the camera you hold. For example, if the tripod is too small, it will not be able to hold and support the camera properly. The main parts of the camera tripod include the legs, head, and plate. The head helps move the camera while the plate is in a place where the camera is mounted. The legs evenly distribute the weight to balance the camera. The main reasons for the demand for camera tripods are the growing tendency towards professional photography and the popularity of social media.
Consumers use social media to post and upload creative photos of landscapes and portraits on their blogs. This will drive the sale of camera accessories such as tripods. Most camera tripods are inherently portable and convenient to carry while traveling. This will further support the sale of camera tripods worldwide. However, high product costs and an increase in counterfeit and substandard products from local brands can hinder the growth of the Camera Tripods Market Share during the forecast period.
Market Segments
The Camera Tripods Market Share is segmented into product type and distribution channel.
The product type segment is categorized into Travel, Studio, Pocket, and Others.
The studio segment holds the largest market share and is expected to reach a moderate pace in the forecast period. Photography as a profession and constant demand for photos like wildlife, sporting events, celebrities images, landscapes, and other human activities. Studio tripods are used for this photography. However, its lack of portability is lowering its sales numbers across the globe.
The distribution channel is categorized as store-based and non-store-based. The store-based segment is further sub-divided into Supermarkets & Hypermarkets, Specialty Stores, and Others.
The majority of the tripods are sold in store-based retailers as they offer the facility of touch and feel followed by a product demonstration. This segment is categorized into supermarkets & hypermarkets, specialty stores, and others. The supermarkets & hypermarkets segment dominates under the distribution channel.
Regional Analysis
North America is dominating due to product awareness and the inclination to capture landscapes, moments, and portraits with the requirement of camera accessories. The higher rate of media and entertainment industry, photoshoots, and rise in sales of professional cameras are driving the market of this region.
The Asia-Pacific market is noticing higher growth due to expanding populations of China and India. This is further generating market opportunities for the players. The market in the region is expanding to increase consumer awareness of personal hygiene and product benefits. In addition, celebrities displaying their photographic skills on social media, and the region's developing tourism business, is driving the regional market.
Industry News
In May 2022, the new VEO 3 263CB/AB is a mid-weight tripod designed for general use, available in carbon or aluminum. The 263CB is a full-height tripod that balances weight and strength to offer optimal support without hurting your back and transporting it to the site.
Vanguard has invested extensively in CNC, so the company's tripods' metalwork and design are constantly upgraded. The quality is excellent, and strength and quality stood out in this test.
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