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Global Action Camera Market Was Valued At US$ XX Bn In 2019 And It Is Expected To Reach More Than US$ 14.11 Bn By 2028, Likely To Grow At A CAGR Of 15.3% During The Forecast Period.
An action camera is a small camera, which can be mounted on helmets, motorcycles, cars, surfboards, and other objects to capture images in high definition and in a wide-angle perspective. Extreme sports events, holidays, seasonal cycles, and music festivals are the key factors driving the demand for action cameras across the globe.
The Rising Popularity Of Action Cameras In The Professional Activities Along With Outdoor Adventures Is Also Fueling The Demand For Action Cameras
The rise in the number of adventurists and sports enthusiasts across the globe as travel and exploration has been a major trend. The Actions cameras fulfill the photography needs as they are lightweight, compact and come in a variety of size and shapes that normally suits any environmental conditions. The action cameras majorly attached to surfboards, handlebars, and helmets, and are also an integral part of extreme sports such as wing-suit flying and base jumping.
The ability to capture high-speed action scenes and the capability to withstand extreme rugged conditions such as heavy rain and wind may positively impact action camera market share over the forecast period. Furthermore, features offered such as lightweight, compact size, and high amount of convenience while mounting on a vehicle is forecast to drive demand.
The Popularity Of Social Networking Sites And Technological Advancements In Electronics Are The Major Drivers In The Global Action Camera Market
The major factors driving the global action camera market include the rising popularity and user-base of social networking sites such as Twitter, Facebook, and Instagram, the trend of sharing photos and videos with followers and friends, and the increasing number of vendors in the market.
In addition, the technological progress in the consumer electronics domain such as the inclusion of AI and VR techniques in cameras is contributing significantly to the growth. Evolution in the consumer electronics industry such as miniaturization of sensors and extensive use of smart gadgets is anticipated to positively impact the market growth. The new generation of action cameras often have add-ons that allow for Wi-Fi and other functions that connect action camera users with other devices.
However, the rising popularity of smartphones with high-end cameras an declining prices of smartphones in-built with excellent-quality cameras are also expected to limit the growth of the global action camera market to a certain extent.
Sports Application Is Expected To Dominate The Action Camera Market
The sports application segment is projected to capture major industry share over the forecast period. An increase in the number of sports enthusiasts such as surfing, skiing, skateboarding, climbing, skydiving, biking, bicycle, and racing, among other sports is further propelling the market demand. Furthermore, the use of digital technology with advanced lens and resolution contributes significantly to capturing excellent quality images and videos in action. In addition, the growing number of sports leagues and activities across the globe is also supporting segment growth.
While the retail channels hold the largest share of the action camera market as consumers prefer checking the equipment and its features in person. The growing need for channel partners in order to streamline sales strategy exhibits a great impact on the business. Also, retail business involves high customer retention owing to aftermarket service at a nominal charge. The retail channels may also have a mix of accessories and cameras or deal individually in both segments.
North America To Dominate The Action Camera Market During The Forecast Period
North America is expected to hold a significant market value share in the global action camera market. The market is anticipated to register a CAGR of xx% throughout the forecast period. The growth in the population of sports enthusiasts, availability of technologically advanced and latest product varieties with easy access to high spending connection are the key factors making North America the leading regional market for action cameras. The increasing popularity of adventure activities such as bungee jumping, skydiving, and paragliding in the region. Media coverage for adventure sports is a booming industry in the U.S. as the regional market is witnessing an increase in demand for professional cameras with extensive storage facilities. Moreover, substantial investments in R&D activities for the development of advanced versions is also supporting regional growth.
Europe is anticipated to gain significant traction in the global market as several big players are launching their products mainly for European markets. For instance, Motorola One Action launched a 117-degree wide action camera in August 2019.
However, the Asia Pacific region is also expected significant growth in the action camera market. The rising disposable incomes with rising expenditure on leisure in developing countries, adventure, and sports activities, and the popularity of social media channels are the major factors triggering this trend in the APAC region.
Some of the major players in action camera market are GoPro, Garmin, iON, Sony, Panasonic, Drift, Polaroid, Rollei, Contour, JVC Kenwood, and Veho
These companies are effectively launching new products with low costs for their customers to strive in the competitive market of an action camera.
Other prominent partners are EyeSee360, Geonaute, GoPole, Hitachi, Chilli Technology, HEDCAMz, iSAW, Liquid Image, Mobius, Oregon Scientific, PAPAGO, RePlay XD, Pyle Audio, Toshiba, Delkin Devices, Shimono, Brinno, Braun Photo Technik, Vievu, Viofo, VIO POV and Xsories.
Action Camera Market Key segments:
Action Camera Market, By Resolution
- Ultra HD
- Full HD
- Standard Resolution
Action Camera Market, By End-use Outlook
Action Camera Market, By Distribution Channel
Action Camera Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America