PUBLISHER: Allied Market Research | PRODUCT CODE: 1365770
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365770
According to a new report published by Allied Market Research, titled, "GorillaPod Market," The gorillapod market was valued at $114.98 million in 2022, and is estimated to reach $240.6 million by 2032, growing at a CAGR of 7.8% from 2023 to 2032.
The GorillaPod industry has come a long way since it first started, and it's all because more and more people are looking for camera support systems that are both easy to carry around and versatile. The rise of social media and content creation has been a major driving force in this trend because everyone wants to capture awesome photos and videos these days.
GorillaPod has gained popularity for several reasons. Firstly, its portability and versatility make it a favorite among photographers and videographers. Unlike traditional tripods, which can be bulky and difficult to carry, the Gorillapod is compact and lightweight. Its flexible legs can be adjusted to fit various surfaces and angles, allowing users to capture shots from unique perspectives.
Secondly, the changing landscape of photography and videography, driven by social media, content creation, and vlogging, has created a demand for innovative tools that can help create visually appealing content. The GorillaPod's flexibility and ability to mount cameras or smartphones in unconventional positions cater to this need, enabling users to capture engaging shots that stand out.
The rise of smartphone photography is another factor contributing to the GorillaPod's popularity. A lot of people are using smartphones for photography, with advancements in smartphone camera technology. The GorillaPod offers smartphone-specific models that provide a stable platform for capturing high-quality photos and videos. The popularity of smartphone photography increases with the rise in demand for smartphone-compatible tripods like Gorillapod. Social media influencers and content creators cannot be overlooked. These individuals play a significant role in shaping consumer trends and preferences.
The GorillaPod's versatility and ability to capture unique shots align well with the needs of influencers, who rely on visually appealing content to engage their audience. The demand for tools like the GorillaPod is expected to increase, as influencer marketing continues to grow. One challenge is the presence of competition. Many other companies produce tripods, including flexible ones, offering customers a variety of options. Some competitors may have similar tripod solutions or alternative stabilizing systems, which can make it harder for the GorillaPod to maintain its dominance.
To stay ahead, Joby, the manufacturer of Gorillapod, needs to keep innovating and making their products unique. Counterfeit products pose a risk as the Gorillapod brand grows in popularity. These counterfeit items can damage the brand's reputation and erode customer trust. The Gorillapod market has several exciting opportunities for growth and expansion. Firstly, the rise in demand for vlogging and content creation provides a significant opportunity for Gorillapod. Vloggers and content creators need versatile and portable tools to capture unique shots and perspectives, and the Gorillapod's flexibility and ability to mount cameras or smartphones in unconventional positions make it a valuable accessory for the market growth.
The growing smartphone photography market is another promising opportunity for Gorillapod., as more people are embracing smartphone photography. Gorillapod's smartphone-specific models cater to this trend by providing a stable platform for capturing high-quality photos and videos with smartphones. Gorillapod can tap into this expanding market segment as smartphone camera technology continues to advance with the increase in number of smartphone users seeking better photography capabilities.
The Gorillapod market is segmented on the basis of product type, application, distribution channel and region. By product type, the market is divided into original gorillapod, focus gorillapod, SLR model, and others. In terms of application, the market is bifurcated into residential and commercial. By distribution channel, the market is segmented into online and offline. By region, the market is analyzed across North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA).
Some of the key players in the Gorillapod market include Hama GmbH & Co KG, Fotopro, Andoer Inc., Digitek, Photron Limited, Videndum plc, Yantralay, Adofys, and Tygot. The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have also been focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market.
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