South Korea Underwater Camera Market Share, Size, Growth, Analysis, Forecast: By Type: Digital Single Lens Reflex (DSLR), Compact, Mirrorless; By Application: Individual, Commercial; By Distribution Channels: Online, Offline; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

South Korea Underwater Camera Market Outlook

The South Korea underwater camera market size reached a value of more than USD 336.20 million in 2022. The South Korea underwater camera industry is expected to grow at a CAGR of 12.4% between 2023 and 2028, reaching a value of USD 675.60 million by 2028.

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Key Trends in the South Korea Underwater Camera Market

In essence, an underwater camera is a camera with the ability to record both still and film clips while submerged. It may be used for underwater video shoots while swimming, snorkelling, or with a remotely controlled underwater vehicle. Some of these cameras can even be readily lowered from the water's surface and are automated to take pictures and films on their own.

Marine Documentaries and Fictional Movies are Majorly Driving the Underwater Camera Market in South Korea

Marine documentaries covering a rich marine biodiversity are shot using underwater cameras. Deep sea exploration has been done with the use of underwater cameras. Unknown marine life is found using underwater cameras, which are also used to record underwater expeditions and demonstrate to people what the deep sea is comprised of. Films on the secrets of the deep, such as those about renowned shipwrecks or the finding of caverns close to the ocean's bottom, are also made with the use of these cameras. When shooting underwater scenes for a movie, a director also employs an underwater camera. 

Moreover, photographers use such cameras for underwater photography for their photoshoots, and the increasing popularity of social media platforms like Instagram, YouTube, and TikTok, among others, also bolsters the market for underwater cameras in South Korea. With the rising disposable income and high living standards more general population now buys such professional cameras.

The Sports Competitions Employ Underwater Cameras to Capture Different Angles to Conduct the Competition Fairly

During a water-based athletic event, an underwater camera offers a distinctive angle and point of view. A specialised underwater camera is needed to capture the swift moments of sports like surfing which involves strong tides under strong tides. The Olympics and other well-known swimming tournaments frequently use underwater cameras to record the athletes from below. During an Olympic swimming competition, for example, the camera can catch the swimmers' form as they sprint from one end of the swimming pool to the other. An underwater camera allows the photographer to go underneath the waves during surfing competitions to capture the manoeuvres of the competitors. 

The Ongoing Research Work Related to Marine Life is Augmenting the South Korea Underwater Camera Market

An underwater camera is a useful tool to have for researchers, especially if they are studying marine species. For instance, a drop camera makes it simple for a research team to monitor the growth and health of a school of fish under investigation. Equipment that is immersed in water may be easily inspected to make sure it is still in excellent working order using underwater research cameras. If the study activity must adhere to rules or adhere to local laws, the camera enables the research team or investigators to check compliance as needed. Such technological advancements and research augment the development of the market in South Korea. 

Market Analysis

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Based on type, the South Korea underwater camera market is segmented into Digital Single Lens Reflex (DSLR), compact, and mirrorless. Based on application, the underwater camera market of South Korea is divided into individual and commercial. The commercial segment is sub-segmented into media and entertainment, underwater sports, commercial photography, and underwater research, among others. On the basis of distribution channels, the South Korea underwater camera market is bifurcated into online and offline. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea underwater camera market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• Canon Inc.

• Nikon Corporation

• Panasonic Corporation

• Sony Corporation

• FUJIFILM Corporation

• GoPro, Inc.

• GVS Co., Ltd

• Others

Market Share by Type

A sophisticated digital camera called a digital single-lens reflex (DSLR) offers higher picture quality, performance levels, and manual control choices than a fixed lens camera on a smartphone, generally by a significant margin. It focuses using a mirror mechanism and frequently employs phase detection autofocus. It's popular among studio photographers. For amateur photographers, mirrorless cameras are advertised as an alternative to premium compact cameras. The smaller camera bodies are made possible by the absence of an internal mirror. Mirrorless cameras support a variety of lenses, unlike compact cameras. The market for underwater cameras is expanding as a result of several factors, including the rising popularity of underwater photography and the expanding usage of underwater cameras in entertainment and media. Moreover, due to the surge of social media, where everyone wants to post aesthetic pictures and video clips, the market of DSLR, mirrorless, and compact camera segments is increasing in the country.

Market Share by Application

Intense focus, clear pictures, and image-mapping capabilities have been made possible by the development of 3D laser underwater cameras. Marine researchers will benefit from improvements in the AI system that produces ultra-high-definition, vivid photographs. Due to their low-light picture capture feature, the navy and military defence systems rely on these cameras to identify underwater threats. Growing demand for underwater tourism has created attractive prospects for companies that sell underwater cameras as a service. Today's trends include the travel and tourist industry, the growing trend and preference for taking underwater photographs, video clips, vacationing, pictures and blogs, and underwater photoshoots. Additionally, scuba diving and the documentation of biodiversity through underwater photography are developing trends. The market for underwater cameras is expanding as a result of this expanding demand in photography.

Market Share by Distribution Channels

The South Korea underwater camera industry is divided into offline and offline channels and both segments are expected to perform well in the coming years. Due to the high penetration of the internet and e-commerce platforms, the online segment will experience significant growth in the market. The offline segment secures a big share of the market but the online segment allows customers to choose from numerous brands and models which is aiding the development of online channels.

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Competitive Landscape

Canon Inc.- Canon Inc. is a manufacturer of consumer and professional imaging products and a digital image technology patent holder. Networked multifunction devices, digital and analogue copiers, computer peripherals, facsimile machines, image file systems, camcorders, cameras, and lenses, semiconductors, broadcast equipment, and medical equipment are among the goods offered by the company. The company was established in 1933 and has its headquarters in Tokyo, Japan.

FUJIFILM Corporation- Beginning as Japan's first photographic film manufacturer in 1934, Fujifilm has grown to be a worldwide force recognised for innovation in high-tech fields such as healthcare, graphic systems, optical devices, and highly functional materials. Fujifilm has also used its imaging and information technologies to develop a variety of high-tech products. The headquarters of the firm is situated in Tokyo.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.