|Study Period:||2018 - 2026|
|Fastest Growing Market:||North America|
|Largest Market:||Asia Pacific|
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The Action Camera Market is expected to register a CAGR of approximately 18% during the forecast period (2021 - 2026). The market for action cameras is expected to witness substantial growth due to the various benefits it provides in comparison with either standard point and shoot or DSLR. The various benefits provided are the provision of recording 4k videos in top-notch quality without any hassle, compact size, provision to capture different angles extreme sports such as surfing and skiing, and ability to use as a car dashcam.
- Action cameras are designed such that the videos shot on these devices provide a first-person perspective to the viewers. This is generating interest among the viewers as they have can develop their personal view into activities such as surfing, rock climbing, and skiing. The small size and excellent ‘point of view’ feature of action cameras has made them capture their adventures and share them on social media platforms.
- Various factors such as the increasing use of smart gadgets, rise in extreme sports events, holidays, and music festivals, the growing trend of sharing content on social networking websites, and the booming consumer electronics industry are driving the growth of the action camera market.
- Further, in the age where smartphones with advanced lenses and features are available at an affordable price, the price of the action cameras could hinder the growth of the market. However, this challenge of a price war among the latest devices is handled with the players in the market introducing low cost, durable, waterproof, weather resistance, and compact design action cameras.
- The sudden outbreak of the COVID-19 pandemic had shown disruptions in import and export activities of Action Cameras. The imposition of stringent lockdowns and the temporary halting of recreational and sports activities such as boating, mountaineering, skiing, and underwater sports negatively impacted action camera businesses globally.
- But, the Action Cameras Market has adopted new strategies and development skills to recover. The market took different funding sources and business approaches to sustain on both the regional and global platform.
Scope of the Report
Action Camera is a digital camera designed for recording action while being immersed in it. They are typically compact and rugged, and waterproof at surface-level. Action cameras, in comparison with either standard point and shoot or DSLR, provides various benefits such as the provision of recording 4k videos in top-notch quality without any hassle, compact size, provision to capture different angles extreme sports such as surfing and skiing, and ability to use as a car dashcam.
|Rest of the World|
Key Market Trends
Increased Use of Action Cameras Amongst the Adventure Enthusiasts is Expected to Aid the Market Growth
- The growing popularity of sports events, outdoor adventure, and active lifestyle activity such as trekking, mountain racing, and ice skating at the domestic and regional levels and the increase in sports enthusiasts and adventurists are further supporting the growth of the market. The action cameras are designed in such a way that the videos shot on these devices provide the first-person perspective to the viewers.
- Demand for 4K resolution in action cameras is accelerating owing to the increased sale of Ultra HD variants in the past few years. It is also anticipated that the adoption of 4K display technology will outpace the demand for Ultra HD technology in the forthcoming years.
- Also, the increasing use of social media platforms for sharing live videos and pictures and for various promotional and marketing activities is augmenting the growth of the market studied. Developing countries such as India, China are observing an increasing trend of social media adoption among individuals.
- The introduction of miniaturization and the latest technologies such as IoT, AR, VR, Wi-Fi, and Bluetooth connectivity, and waterproof technologies has exponentially boosted the sales of various action cameras across the global markets.
- However, an incremental technological advancement in the smartphone cameras with the smartphone makers making heavy investments in the market is expected to hinder the market growth. Also, the affordable rate of smartphones with advanced camera features as compared to the action cameras is further expected to hinder the market growth of the action cameras in the forecast period.
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North America Region is Expected to Contribute Significantly
- The North American region is expected to contribute significantly to the market studied, over the forecast period, owing to the presence of a large number of vendors, who are also investing hugely in market innovation, coupled with the dominance of the United States in the global market. This is attributable to the increased participation of youth in sports and recreational activities.
- It is one of the leading markets owing to various factors such as the increasing trend of athleticism, rising concern for health, among others. The increasing participation of individuals in extreme sports events such as swimming, sky diving, scuba diving, hiking, and biking and rising emphasis by governments in countries in the region to improve emergency services such as paramedics and firefighting.
- Additionally, the presence of leading social media firms and increasing investment in R&D to integrate advanced functionality to action cameras are driving the robust market growth.
- The growing production volume of light commercial vehicles and the growing influence of the New Car Assessment Program (NCAP) is expected to drive the demand for action cameras in the North American region.
- Further, increased disposable income, higher demand for technologically advanced devices, and higher adoption rate of innovative technologies have positively influenced the region and augmented the growth of the North American action camera market.
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The competitive landscape of the global action camera market is moderately consolidated with few vendors available globally, with the majority of the market share. The market players are increasingly making significant investments in terms of new product launches while making various innovations in the existing products. This will help them gain maximum market traction, as the market is continuously evolving due to emerging trends.
- October 2021 - DJI announced the launch of its latest compact camera, the DJI Action 2, which is an update to the original DJI Action. DJI constructed the Action 2 with an interchangeable and adaptive magnetic design that can accommodate several accessories for framing, shooting, and monitoring. The Action 2 is smaller and more powerful than the original Action camera, weighing in at 56 grams.
- September 2021 - GoPro launched its HERO10 Black flagship camera globally. The new action camera comes with the latest high-performance GP2 processor. The device brings the capability to record 5.3K video at 60 frames per second, a higher resolution 23-megapixel sensor and improved low-light performance. It also brings in HyperSmooth 4.0 video stabilization.
October 2021 - AKASO Tech LLC has released the newest addition to its Brave line of action cameras: the Brave 8. Brave 8 series action camera is the first time to use innovative technology and top performance in AKASO to impact on high-end action camera market directly such as GoPro and DJI. The Brave 8 series will bring an innovative and hardcore brand image to consumers around the world.
August 2021 - FeiyuTech announced the FeiyuPocket 2S and FeiyuPocket 2, two new portable gimbal cameras for videographers with some attention-grabbing features. The FeiyuPocket2S is the showboat of the two, as it features a magnetically detachable head and handles, allowing users to experiment with a host of different shooting angles. Its magnetic also makes it wearable and mountable, opening up new possibilities for action camera-style POV shooting - making it a useful helmet camera option.
March 2021 - IInsta360 launched Insta360 Go 2 in the US at USD 299. The Insta360 Go 2 is not a 360-degree camera, as it is a part of the ‘Go’ series. The Insta360 Go 2 comes as the successor of the Insta360 Go and brings a slew of improvements and new features. The Insta360 Go 2 is a tiny action camera that can be attached to accessories magnetically. It also comes with a bunch of accessories inside the box, allowing creators to use the camera in different conditions and for different kinds of activities
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High-demand Markets Such as Aerospace & Automotive
4.2.2 Hardware Advancements Have Played a Role in Enhancing the Portability and Use in Rugged Environments
4.2.3 Increasing Use of Smart Devices and Advancements in Consumer Electronics
4.3 Market Restraints
4.3.1 Incremental Advancements in Smartphones
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Distribution Channel Analysis – Retail & Online Sales
4.6 Key Application Area Trends – Sports, Adventure, Emergency Services, etc.
5. MARKET SEGMENTATION
5.1 By Resolution
5.1.1 Ultra HD
5.1.3 Other Resolutions
5.2.1 North America
5.2.4 Rest of the World
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 GoPro, Inc.
6.1.2 Nikon Corporation
6.1.3 Garmin Limited
6.1.4 Olympus Corporation
6.1.5 Rollei GmbH & Co. KG
6.1.6 Sony Corporation
6.1.7 Drift Innovation
6.1.8 SZ DJI Technology Co., Limited
6.1.9 Yi Technology
6.1.10 TomTom N.V.
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Action Camera Market market is studied from 2018 - 2026.
What is the growth rate of Action Camera Market?
The Action Camera Market is growing at a CAGR of 18% over the next 5 years.
Which region has highest growth rate in Action Camera Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Action Camera Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Action Camera Market?
GoPro, Inc., Nikon Corporation, Garmin Limited, Olympus Corporation, Rollei GmbH & Co. KG are the major companies operating in Action Camera Market.