It was announced earlier this week that iON and Contour, two American wearable camera companies, are merging and would be known as Ion Contour.
Giovanni Tomaselli, CEO of iON Cameras will remain the CEO of the co-joint company, whilst Contour’s present CEO James Harrison will become a president within the organisation.
iON Contour is estimated to be worth approximately $100 million, and Valour Consultancy calculates the combined companies accounted for approximately 6.6% of action camera shipments in 2014.
The overall total point-of-view wearable camera market was worth $2.8 billion in 2014, and market revenues are anticipated to grow by 21.8% in 2015.
Ion Contour will keep its iON and Contour brands in the short-term.
Contour was one of the early pioneers in the point-of-view wearable camera market, almost rivalling GoPro, before it hit financial trouble. Contour, based in Utah, has been through a number of peaks and troughs, closing and re-opening in 2013 and 2014, respectively.
Nevertheless, the company has maintained a strong support for its camera products, particularly in the high-end segment of the markets in the US and Europe.
It is believe iON will continue pursuing the budget consumer wearable camera market, however, with a horde of Chinese companies like SJCam and AEE technologies; the market potential for the brand is relatively limited and extremely competitive. The recent launch of iON Snapcam, a lifelogger camera, does look interesting, with that segment of the market projected to grow substantially in the coming years.
One of the key message taken from the merger is its focus on live streaming, a feature that hasn’t yet really taken off in today’s wearable cameras. Giovanni stated he wanted to use the live streaming connectivity feature in other markets that iON operate within, such as home monitoring and in the car as black box monitoring.