Press Release
Press Release
According to a new report by EMR titled, ‘South Korea Underwater Camera Market Report and Forecast 2024-2032’, the market attained a value of about USD 377.89 million in 2023. The market is estimated to grow at a CAGR of 12.4% in the forecast period of 2024-2032 to reach a value of USD 1,078.34 million by 2032.
The South Korea underwater camera market growth can be attributed to a surge in underwater activities. South Korea is witnessing a surge in tourism. In January 2024, South Korea recorded a tourism revenue of USD 1.2 billion, a 33.9% increase from December 2023.
The coastline of South Korea consists of famous cities, such as Busan, Ulsan, Geoje-si, and others, that offer engaging water sports activities such as scuba diving, snorkelling, and kayaking to tourists. The need for top-notch underwater cameras is fuelled by these adventures, which frequently entail photographing the wonders of the underwater world. The underwater camera market in South Korea provides a range of choices, such as compact cameras, mirrorless cameras, and action cameras, to suit various requirements and price points.
In December 2023, GoPro, Inc. (NASDAQ: GPRO) launched the Extension Pole + Waterproof Shutter Remote, which makes it simple to start and stop filming when GoPro is out of reach and the pole is extended. The new 1/4-20 mounting threads on the HERO12 Black are specifically made to operate with the Extension Pole (but they can also be used with other industry standard mounts). In order to guarantee compatibility with all GoPro cameras, mounting fingers are also supplied.
Alternatively, users can adjust the angle according to their preferences with the 360° ball joint that comes with it. The waterproof remote has a straightforward, one-button design and can be submerged up to 16 feet (5 metres). Using the Bluetooth® Shutter Remote to start and stop video recording is simple.
Figure: Estimated Number of Tourists in South Korea (2019-2023)
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The major players in the South Korea underwater camera market are Canon Inc., Nikon Corporation, Panasonic Corporation, Sony Corporation, FUJIFILM Corporation, GoPro, Inc., and GVS Co., Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Distribution Channels |
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