Gorillapod Market to Reach $240.6 Million, Globally, by 2032 at 7.8% CAGR: Allied Market Research
The global gorillapod market growth is attributed to the rise in the developments of smartphone photography and increased focus on social media influencer marketing.
PORTLAND, Ore, Sept. 12, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "GorillaPod Market by Product Type (Original GorillaPod, Focus GorillaPod, SLR Model, Others), By Application (Residential, Commercial), By Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global gorillapod industry generated $115.0 million in 2022 and is anticipated to generate $240.6 million by 2032, witnessing a CAGR of 7.8% from 2023 to 2032.
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Gorillapod is a brand of flexible camera tripods manufactured by Joby. The Gorillapod tripod stands out from traditional tripods due to its unique design, featuring flexible legs made up of several interconnected ball-and-socket joints. These flexible legs allow the Gorillapod to be wrapped around various objects, such as tree branches, poles, or uneven surfaces, providing stability and support for cameras or other devices.
Prime Determinants of Growth:
The global gorillapod market growth is attributed to the rise in the developments of smartphone photography and increased focus on social media influencer marketing. On the other hand, the increase in competition may limit the market growth to some extent. Furthermore, the rise in demand for vlogging and content creation, and advancement in technology will create lucrative opportunities during the forecast period.
Report Coverage & Details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Product Type, Application, Distribution Channel, and Region
Developments in Rise of Smartphone Photography
Increased Focus on Social Media Influencer Marketing
Rise in Demand for Vlogging and Content Creation
Advancements in Technology
Rise in Competition
The original gorillapod segment to maintain its leadership status throughout the forecast period-
Based on product type, the original gorillapod segment held the highest market share in 2022, accounting for more than two-fifths of the global gorillapod market revenue and is estimated to maintain its leadership status throughout the forecast period. This is due to the unique and innovative design that sets it apart from traditional tripods, offering users a creative and flexible shooting experience. However, the SLR model segment is projected to manifest the highest CAGR of 8.4% from 2023 to 2032. The demand for the SLR Model GorillaPod is driven by the popularity of SLR cameras and the need for a reliable and portable tripod solution that can support the weight and specific requirements of SLR camera systems.
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The commercial segment to maintain its lead position throughout the forecast period-
Based on application, the commercial segment held the highest market share in 2022, accounting for more than two-thirds of the global gorillapod market revenue and is expected to maintain its lead position throughout the forecast period. The surge in the importance of content marketing and social media platforms has fueled the demand for gorillaPods in commercial applications. However, the residential segment is projected to manifest the highest CAGR of 8.3% from 2023 to 2032. The increase in popularity of social media platforms and content creation has fueled the demand for tools that can help individuals produce high-quality visuals.
The offline segment to rule the roost by 2032-
Based on distribution channel, the offline segment held the highest market share in 2022, contributing to more the two-thirds of the global gorillapod market revenue, and is projected to rule the roost by 2032. Specialized photography stores, such as camera shops and professional equipment retailers, continue to be important offline channels for gorillaPods. However, the online segment is projected to manifest the highest CAGR of 8.4% from 2023 to 2032. Online shopping offers convenience, allowing customers to browse and purchase gorillaPods from the comfort of their homes. The 24/7 availability of online stores allows buyers to make purchases at their preferred time, without the limitations of physical store hours.
Asia-Pacific to maintain its dominance by 2032-
Based on region, Asia-Pacific held the highest market share in 2022, holding around two-fifth of the global gorillapod market revenue, and is expected to maintain its dominance by 2032. The Asia-Pacific region has witnessed substantial economic growth, leading to an increase in disposable income and the expansion of the middle-class population. The demand for high-quality camera accessories like GorillaPods has increased as more people have the means to pursue hobbies like photography and content creation. On the other hand, the LAMEA region is expected to witness the fastest CAGR of 8.4% from 2023 to 2032. Social media platforms play a crucial role in shaping consumer behavior in the LAMEA region. The influence of social media influencers and content creators is on the rise, driving the popularity of GorillaPods as an essential accessory for capturing high-quality photos and videos.
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Leading Market Players: -
- PHOTRON LIMITED
- VIDENDUM PLC
- HAMA GMBH AND CO KG
- ANDOER INC.
The report provides a detailed analysis of these key players in the global gorillapod market. These players have adopted different strategies such as collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Country Reports We Have in this Industry:
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SOURCE Allied Market Research
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