Wildlife Monitoring and Hunting Activities to Hold 80% Share of Trail Camera Market: Fact.MR
Published : 10 Feb 2021 Industry: Consumer Goods
Rise in biological research and wildlife management projects to capture images that will help in making evidence-based decisions is pushing demand for trail camera northwards. Another major growth factor is consumers prioritizing security across different industries and even residential buildings. Activities such as large-scale farming require these trail cameras to keep an eye on potential threats and take preventive measures accordingly.
The market is witnessing immense competition among prominent companies involved in product innovation and development. Developments such as camouflaged farm gate hunting cameras aid the farming industry, while programmed trail cameras are gaining significance in residential security to identify and prevent crimes, along with portability features and capturing videos in darkness.
Fact.MR’s study points towards steady growth of the global trail camera market at a CAGR of more than 4% over the next ten years.
Key Takeaways from Trail Camera Market Study
Over the past 5 years, the global trail camera market registered a growth of 3.3? in terms of value.
- Market outlook continues to remain steady over the next 10 years, and will register over 4% CAGR in terms of value from 2021 to 2031.
- North America leads the market and will hold over one-third share through 2031.
- The trail camera market in the U.K. will register a growth of over 4% YOY.
- Germany and France will be stable in terms of demand, while Japan and Korea will continue to be a bright spot in Asia.
- Wireless trail cameras will hold over two-third market share over the next ten years.
- 8 to 12 MP cameras are the most preferred across regions and sectors.
- Hunting and wildlife monitoring will account for over 80% demand for trail cameras through 2031.
- Direct to customer and third-party sales channels will hold close to two-third market share.
Important Market Movements
- Snapshot Wisconsin, a statewide management initiative started in 2016 by the Wisconsin Department of Natural Resources in the U.S., invited volunteers to host trail cameras in Wisconsin for efficient monitoring of wildlife resources.
- Researchers at the Mississippi State University developed an infrared trail camera survey technique capable of providing accurate analysis of the local deer population.
- In 2017, Wildgame Innovations launched a new range of trail cameras with zero detection, silent shield, Tru-Dual Cam, and Airborne features. The company also offered online interactive access for seamless operation of its trail cameras.
- Boly Inc., launched the ‘Boly 4G MG984G Series’ with super-fast 4G data transmission speed and economic price ranges.
What Does the Future Hold?
Leading companies such as Wildgame Innovations LLC, Boly Inc., Browning Arms Company, Vista Outdoor Inc., G. Telecom, Reconyx, Cuddeback, and Covert Scouting Cameras have been found to foray into untapped opportunities across Asia Pacific and the Middle East & Africa, in a bid to expand their services and tap into new customer segments.
Penetrating into markets and breaking away from traditional CCTV surveillance systems has been hampered by a limited customer base. Lack of awareness and high cost are two major factors that hinder the growth and feasibility of trail cameras. Consumers’ incline more towards CCTVs or smartphones, and hesitation in utilizing other alternatives hinders adoption, limiting the consumer base in the trail camera market.
Valuable Insights on Trail Camera Market Report
The study contains a comprehensive review of key participating companies in the development and administration of trail cameras. Key companies have been listed in the market study. Competitive fields include SWOT analysis, analysis of product portfolio, main developments of trail cameras, strategic alliances, strategies, and finance. The report provides vital insights into the regional trends that influence the sales of trail cameras, along with macroeconomic and industry-specific elements that influence market growth. The trail camera market report offers an overview of historical evidence, current scenario, future trends, and estimates on sales and demand, all bifurcated under segments - product type (standard and wireless [cellular and Wi-Fi]), pixel size (less than 8 MP, 8 to 12 MP, and more than 12 MP), trigger speed (up to 0.25 sec, 0.25 sec to 0.75 sec, and above 0.75 sec), application (hunting, wildlife monitoring, and others [residential, utility, and commercial]), and sales channel (modern trade channels, independent/brick and mortar outlets, direct to customer, and third-party online channels), across 7 major regions of the world.
About the Retail & Consumer Goods Division at Fact.MR
Retail and consumer goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio.
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Shambhu Nath Jha
Sr. Consultant – Retail & Consumer Goods