South Korea Underwater Camera Market to Reach Around USD 1,078.34 million by 2032, Driven by Increasing Interest in Water Sports Activities by Tourists

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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Market Analysis by Type, Application and Distribution Channels:

• The market, on the basis of type, can be divided into digital single lens reflex (DSLR), compact, and mirrorless.

• Based on application, the market can be divided into individual and commercial.

• The various distribution channels for underwater camera include online and offline.

Key Findings of the Report:

• The popularity of marine photography drives the South Korea underwater camera market expansion. Enthusiasts of marine photography are captivated by the alluring beauty and distinctive difficulties of shooting underwater sceneries.

• Technological advancements by manufacturers, such as improved image sensors, better low-light performance, a wider dynamic range, and more compact camera bodies, propel the market.

• In the entertainment industry, underwater cameras are extensively being used to offer viewers different experiences. Some of the popular K-pop music videos and dramas, such as Legend of the Blue Sea, Extraordinary You, and My Strange Hero, were shot using underwater camera technology.

• The growing demand for marine documentaries and underwater photoshoots further drives the demand for underwater cameras. Underwater cameras are a vital tool for scientists, researchers, and environmentalists who study and record marine habitats. The need for specialised gear fuels the market expansion in South Korea.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea underwater camera market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, and distribution channels of underwater camera in South Korea.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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.

Key Highlights of the Report

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