A study by market researcher Fior Markets has predicted that the underwater camera market will grow from a value of $4.8 billion in 2019 to $15.3 billion by 2027. They identify a growing use of underwater cameras in media and entertainment, camera rental services, growth in aquatic sports, and underwater photography’s growth on social media feeds. Cost is listed as the primary impediment to growth.
They also forecast that the biggest market will be in the US, with significant growth in the Asia Pacific region. It also singles out the Maldives, Malaysia, and Indonesia as the venues that will “drive the market due to rising tourist destinations’ awareness.”