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The vloggers are mostly influencers, who are always striving to create the best possible content to improve their channel and earnings. A good camera is a must have but it also needs to be lightweight and versatile, to be used in almost all outdoor and indoor applications. Because of this, many vloggers are now substituting their mobile phone cameras with a vlogging camera, this is an ongoing trend and could also be a potential risk to the vlogging camera market.
Future growth of vlogging cameras will also be closely linked to drone camera sales as many vloggers have both.
The average selling price of a mirrorless camera’s body preferred for vlogging is $943 in 2019 and this is ~20% higher than the average mirrorless camera body’s selling price ($720). The market share of mirrorless cameras in global vlogging cameras will increase from 18% in 2019 to 35% in 2025.
The vlogging camera market size is derived from two set of buyers, 1) who are new to vlogging and buying their first camera with a lower budget and limited features 2) experienced vloggers who understand the nuances of advanced cameras, related tech and the impact it has on their content.
We talked to 14 celebrity vloggers (>1M subscribers) and found that their average cost of camera ranged between $1,300-$1,900. But there are more than 100,000 aspiring vloggers (20k-100k subscribers) who have varying needs, budget and are always on the lookout to upgrade their equipment. Something the vlogging camera manufacturers will have to pay very close attention to.
Mirrorless and DSLR cameras will have a slower replacement period (~2-2.5 years) compared to action cameras (~1-1.5 years). USA currently has 23% of the global market share (by volume) and this will grow to 25-26% by 2025, USA will remain the biggest market in terms of a single country for Vlogging cameras.
“The global vlogging camera market size is estimated at $486M in 2020, growing at 18% CAGR till 2026”.
The vlogging camera market is dominated by Asian manufacturers. 6 out of 9 manufacturers profiled in this report belong to Japan and it is because of their long-proven expertise in building all form of cameras over past many decades. Olympus has the highest gross margin among all manufacturers.
The vlogging camera market is highly concentrated with just four players accounting for ~77% market share So far, Sony and Cannon have emerged as the top choice brands by vloggers and they cumulatively account for a substantial market share.
Nikon is willing to expand their base of younger customers by introducing entry-level models that are more affordable while still featuring improvements to video and other functions and by supplying software that supports expression through imaging.
Sony is actively engaging in acquisitions, joint ventures, capital expenditures and other strategic investments to acquire new technologies. Sony invested in Bilibili Inc. and Epic Games, Inc. (“Epic”), and acquired minority interests in both companies, with the goal of accelerating business expansion in the area of entertainment in the fiscal year ending March 31, 2022.
GoPro’s sales through GoPro.com represent an increasing percentage of revenue and are focused on continuing to accelerate the growth of e-commerce sales. Revenue from GoPro.com represented 33% of revenue in the fourth quarter of 2020.
Canon is accelerating the promoting and marketing sector to boost the sales of the products such as “EOS R5” and “EOS R6” full-frame mirrorless models.
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