Growing investment in mobile and camera accessories, an increase in the number of vloggers globally, rise in internet penetration, and a rise in the number of social media platforms and e-commerce channels drive the global mobile gimbal market.
PORTLAND, Ore., Feb. 16, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Mobile Gimbal Market by Stabilization Type (3-Axis Stabilization, 2-Axis Stabilization), by Price Point (Premium, Mid-Range, Low/Economic), by Type (Foldable, Wireless remote control, Bluetooth enabled), by Distribution Channel (Offline, Online): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global mobile gimbal industry was valued at $490.1 million in 2021 and is estimated to generate $951.6 million by 2031, witnessing a CAGR of 6.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, Restraints, and Opportunities
An increase in the number of vloggers globally, rise in internet penetration, the increased impact of social media on consumers, and a rise in the number of social media platforms and e-commerce channels fuel the growth of the global mobile gimbal market. However, the integrated camera stabilization offered by smartphone manufacturers and the availability of less expensive alternatives to gimbals hinder the global market growth. On the other hand, the rise in expenditure on mobile phone accessories by the global population presents new growth opportunities for the global mobile gimbal market in the coming years.
Covid-19 Scenario
- The COVID-19 pandemic had a positive impact on the mobile gimbal market.
- The period witnessed a sudden rise in the number of vloggers because many people lost their jobs and had nothing to do. So many of them chose the vlogging profession and this raised the demand for mobile gimbals, thereby contributing to the growth of the market.
- The growth of the mobile gimbal market is expected to continue during the forecast period.
The 2-axis stabilization segment to grab the largest revenue during the forecast period
Based on stabilization type, the 2-axis stabilization segment contributed to the largest share of more than three-fifths of the global mobile gimbal market in 2021 and is expected to maintain a noteworthy revenue growth during the forecast period. This is owing to its lightweight nature, long-lasting battery coupled with cost-convenience. However, the 3-axis stabilization segment is projected to witness the fastest CAGR of 7.1% from 2022 to 2031, owing to the rising number of vloggers globally coupled with the increased penetration of social media.
The wireless remote control segment to maintain its leadership in terms of revenue during the forecast period
Based on type, the wireless remote control segment contributed to the largest share of nearly half of the global mobile gimbal market in 2021 and is expected to maintain its leadership in terms of revenue during the forecast period. This is owing to the convenience offered by it such as easy control. However, the foldable segment is projected to witness the fastest CAGR of 7.5% from 2022 to 2031. The segment is driven by a rise in the number of travel vloggers worldwide and the convenience of carrying foldable gimbals.
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The offline segment to dominate in terms of revenue during the forecast period
Based on distribution channel, the offline segment contributed to the largest share of nearly three-fourths of the global mobile gimbal market in 2021 and is expected to maintain its leadership in terms of revenue during the forecast period. This is owing to the greater prevalence of such channels among buyers. However, the online segment is projected to witness the fastest CAGR of 7.7% from 2022 to 2031. Easy availability of information about a mobile gimbal, time-saving features, and the facility of home delivery contribute to the growth of online sales.
North America to achieve the highest revenue by 2031
Based on region, the market in North America was the largest in 2021, accounting for more than one-third of the global mobile gimbal market and is likely to maintain its dominance during the forecast timeframe. This is owing to the huge disposable income of the consumers and the high level of ownership of smartphones and their accessories in the region. However, the market in Asia-Pacific is likely to show the fastest CAGR of 7.9% during the forecast period. This is due to the growing adoption of high-quality mobile accessories, the rising disposable income, and the rising prevalence of social media in the region.
Leading Market Players
- SZ DJI Technology Co., Ltd.
- EVO Gimbals
- FeiyuTech
- Shenzhen Douying Technology Co., Ltd.
- Gudsen Technology Co., Ltd.
- Kaiser Baas
- Movo Photo Group LLC.
- Rollei GmbH & Co. KG
- Shenzhen Snoppa Technology Co., Ltd.
- SwiftCam Technologies Group Company Ltd.
- VanTop
- SHAPE WLB Inc.
- Guilin Zhishen Information Technology Co. Ltd.
- Hohem Technology Co., Ltd
- Zhongshan Kingjoy Photographic equipment Co. Ltd.
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The report analyzes these key players of the global mobile gimbal market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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