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The Global Action Camera Market size is forecast to increase by USD 3.66 billion at a CAGR of 16.47% between 2022 and 2027. The market is experiencing significant growth, driven by several key factors. The rising popularity of social networking sites and increasing demand for action cameras, particularly in adventure tourism, are driving market expansion. Additionally, the rapid shift in demand from developed to developing nations and the growing sponsorship of extreme sports events are further propelling market growth. Moreover, the rising popularity of online retail and smartphones is boosting consumer accessibility, while increasing competition among vendors is driving innovation and product development. However, challenges persist, particularly in low adoption rates in APAC countries, highlighting the need for targeted strategies to tap into these emerging markets. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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In the dynamic world of consumer technology, the Action Camera market continues to gain momentum. With keywords like GoPro, Hero, Actions Cameras, and Techno, it's clear that these devices are popular choices for capturing life's adventures. These compact, wearable cameras offer features such as high-definition video recording, waterproof capabilities, and mountable designs, making them ideal for extreme sports and travel. Brands like Montaigne, Rafting, Skydiving, and Underwater Technology provide a range of options for consumers seeking the best Action Camera for their needs. Whether you're into biking, climbing, or just want to document your daily life, an Action Camera is a must-have gadget. Boasting features like Wi-Fi connectivity, remote control, and advanced image stabilization, these devices offer unparalleled convenience and functionality. So, if you're looking to capture your next adventure, consider investing in a high-quality Action Camera.
The Action Camera market has seen significant growth in recent years, with devices like GoPro and Insta360 leading the charge. These devices, such as the 4K GoPro and the Insta360 One R, offer advanced features like high resolution, adjustable view angles, and image stabilization. Enthusiasts and professionals alike value their durability and portability, making them ideal for extreme sports and travel. Extreme sports technologies like Social Media Drones and Markertech's tracking technology have also integrated action cameras, expanding their use cases. Extreme sports enthusiasts can use these cameras to capture their adventures from unique perspectives, while tech-savvy marketers can leverage them for innovative content creation. The Extreme technology market is expected to continue growing, driven by the demand for immersive content and the increasing affordability of high-quality action cameras.
The increasing popularity of action cameras is a key driver boosting the market share. Some of the main reasons for the popularity of these are that they are compact, easy to use in harsh conditions, and portable. Most end-users are athletes, adventurers, filmmakers, security agencies, and insurance companies. These cameras offer high-quality images and have long battery backup and waterproof features.
They are also used in various sporting events. This offers a better viewing experience to viewers. In Doha, the Football World Cup 2022 is being displayed using HD during matches for an enhanced viewership of the game. The use of action cameras by various sporting events has promoted the use of action cameras and increased their popularity globally. Such factors are expected to drive the market in focus during the forecast period.
The rising popularity of online retail is one of the major market trends shaping the market growth. Online retail and e-commerce platforms have become pivotal sales channels for action camera manufacturers, including global industry leaders who now offer their products on platforms like Amazon. This online avenue proves highly profitable, allowing manufacturers to provide competitive pricing without significant geographical constraints.
Moreover, it enhances convenience for consumers, eliminating the need to visit physical stores. Online retail also offers robust promotional opportunities, leveraging search engine optimization tools and ad analytics for effective marketing. Leading camera and accessory manufacturers, such as Canon, Nikon, Samsung Electronics, and Panasonic, have embraced online distribution through their platforms or partnerships with e-commerce giants like Amazon, eBay, and Alibaba. The online retail channel is poised for substantial growth due to increasing global Internet access and the growing availability, affordability, and adoption of cameras, making it a significant trend driving the global market's expansion.
Increasing competition among companies is a key challenge hampering the growth of the market. The companies are experiencing a decline in their profit margins. This is primarily because the prices of raw materials are increasing. Due to the high market potential, several new companies have entered the market. companies are focusing on developing that are affordable for consumers, especially in developing countries. This hinders the sales potential and revenues of existing companies.
Additionally, companies are continuously offering new features to attract customers and differentiate their products. For instance, SJCAM has revamped its popular model, SJ4000X, with a waterproof treatment. In addition, the growing prominence of new companies has resulted in price wars, which has forced the existing companies to reduce the prices of their offerings, which has led to a reduction in profit margins. This leads to low reinvestments in the business, due to which companies might have to compromise on the quality of their offerings. This will adversely affect market growth during the forecast period.
The market is classified into Technology, Distribution Channel, and Geography. The end-user segment holds the largest market share. The action camera market experiences significant growth, driven by adventure enthusiasts' preference for 4K resolution devices during extreme sports events, holidays, and seasonal cycles. Reality shows and the film industry embrace these technologically advanced devices for innovations like bigger sensors, 10-bit color depth, enhanced video stabilization, and the broadest field-of-view. Social media platforms and IoT integration fuel market traction. Key players like GoPro offer touch-sensitive screens and voice control. Emerging trends include AI and VR techniques in mountaineering, rafting, boating, skiing, underwater sports, high-quality films, and photographs. Primary drivers include the youth population's disposable income and the global demand for action cameras in dashboard, ocean, surfing, climbing, skydiving, and bicycle racing applications.
The market share growth by the ultra HD segment will be significant during the forecast period. The demand for better viewing angles in the broadcast industry is a major factor propelling the growth of the segment. These cameras are used in most popular sporting events such as cricket and football World Cup, and the Olympics. The penetration of these cameras will grow during the forecast period as an increasing number of sporting events are expected to deploy. These factors will facilitate market growth during the forecast period.
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The ultra HD segment was valued at USD 1.21 billion in 2017 and continue to grow by 2021. Moreover, reality shows are one of the fastest-growing segments of the TV show industry. These shows have a high penetration as the shows require different viewing angles. The film industry is expected to adopt these to offer enhanced life-like experiences that engage audiences better. Driven by the availability of platforms such as YouTube and Facebook for filmmakers to showcase their work, the market will experience a significant growth momentum during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The action camera market in North America is experiencing significant growth due to the region's large population of adventure enthusiasts and the increasing popularity of extreme sports. The launch of technologically advanced devices, such as GoPro's Hero 11 Black series camera with 4K resolution, bigger sensor, 10-bit color depth, enhanced video stabilization, and the broadest field-of-view, caters to this market. The high disposable income of the youth population in North America, especially in the US, drives the early adoption of these devices. Emerging trends include IoT integration, social media platform compatibility, touch-sensitive screens, and voice control. Primary drivers include extreme sporting events, holidays, seasonal cycles, and music festivals. Global demand is fueled by innovations in AI and VR techniques, as well as applications in mountaineering, rafting, boating, skiing, underwater sports, high-quality films, photographs, dashboard cameras, and various outdoor activities such as surfing, climbing, skydiving, and bicycle racing.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Nikon- The company is one of the leading companies in commercial telematics for fleet management.
Technavio has detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Action Camera market has seen significant growth in recent years, with devices like GoPro and Drift innovating the field of portable video recording. Extreme sports enthusiasts and adventurists have embraced these devices for their ability to capture high-definition footage in challenging environments. Enthusiasts seek features such as 4K resolution, wide-angle lenses, and waterproof casings. Markets like Europe and North America are major contributors to the industry's growth, with big brands driving demand. However, emerging markets like India and China are also showing potential for growth. Tech companies like Sony, Insta360, and Garmin are also making strides in the market with their offerings. The market is expected to continue its upward trend, driven by advancements in technology and increasing consumer interest.
The market showcases a diverse range of offerings from leading brands like GoPro, known for its innovative GoPro offers. These cameras provide users with high-quality imagery and video recording capabilities, rivaling traditional DSLR (digital single-lens reflex camera) systems. Popular among enthusiasts of outdoor activities such as bicycling, action cameras come in various styles including Box Style, Cube Style, and Bullet Style, catering to different preferences and needs. With features like Full HD and Standard Resolution, users can capture stunning visuals in various environments. Brands like YI Technology incorporate cutting-edge AI technologies to enhance user experience and functionality. As the market continues to expand, action cameras remain a go-to choice for adventurers and content creators seeking portable and versatile recording solutions.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Action Camera Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.47% |
Market growth 2023-2027 |
USD 3.66 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.94 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
C and A Marketing Inc., Casio Computer Co. Ltd., Chilli Tech Europe Ltd., Drift Innovation Ltd., Eastman Kodak Co, Garmin Ltd, GoPro Inc., HTC Corp., iON America LLC, Nikon Corp., Olympus Corp., Panasonic Holdings Corp., Ricoh Co. Ltd., Rollei GmbH and Co. KG., Shenzhen Amkovery Tech. Development Co. Ltd., SJCAM Ltd., Sony Group Corp., Toshiba Corp., Veho, and Xiaomi Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by End-user
8 Market Segmentation by Distribution Channel
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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