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The Global Action Camera Market size is forecast to increase by USD 3.66 billion, at a CAGR of 15.11% between 2023 and 2028. 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 2018 to 2022.
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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. Moreover, in the dynamic world of consumer technology, the Action Camera market continues to gain momentum.
The action camera market has experienced significant growth due to the increasing usage of social networking sites. With over a billion unique users visiting platforms like Facebook, Twitter, Instagram, and YouTube monthly, the target audience for action cameras has expanded. Brands are capitalizing on this trend by promoting their products through content marketing.
Further, the key features driving sales include advanced shooting needs met by updated processors and sufficient battery capacity to capture extended periods of action. Such factors will increase the market growth during the forecast period.
The action camera market is experiencing a significant transition from developed to developing nations, shaped by the surge in popularity of adventure tourism and improving sports infrastructure. In emerging economies like India and China, the penetration of action cameras is relatively low, presenting a substantial business opportunity.
Moreover, the key factors fueling sales during the forecast period include increasing urbanization, rising disposable income, and the growing trend of social media usage. For vendors, meeting the shooting needs of this new customer base through the use of updated processors and sufficient battery capacity will be crucial to success in the developing market.
Action camera vendors are experiencing a decline in their profit margins, which hinders the growth of the market. This is primarily because the prices of raw materials are increasing. Due to the high market potential, several new vendors have entered the market. Vendors are focusing on developing action cameras that are affordable for consumers, especially in developing countries. This hinders the sales potential and revenues of existing vendors.
Additionally, vendors 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 vendors has resulted in price wars, which has forced the existing vendors 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 vendors might have to compromise on the quality of their offerings. This will adversely affect market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Market Customer Landscape
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 Corp. - The company offers action cameras and photography equipment.
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 witnessed significant growth since 2011, with the segment expanding due to the adoption by sports events and broadcasting companies. Three primary styles include Box, Cube Style, and Bullet designs. Action cameras offer Full HD, HD, and Ultra HD resolutions, with market leaders like YI Technology integrating AI technologies. Such factors will increase the market demand during the forecast period.
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The ultra HD segment was valued at USD 1.28 billion in 2018. Moreover, the market's expansion is driven by lockdowns and holidays, increasing demand from consumers for Periscope and 360-degree experiences. Amateurs and professionals alike use these cameras for films, exploits, and life experiences in sports and recreational activities. Emergency services and adventurous sports also benefit from this digital technology. Accessories such as lenses, resolution enhancements, and accessories cater to various needs. Market participants offer cloud storage services, video stabilization, Boost mode, and Horizon leveling. Sports leagues and extreme activities like sky diving, bungee jumping, and scuba diving are popular use cases. The youth market is a significant demographic. Such factors will drive the market growth during the forecast period.
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North America is estimated to contribute 35% 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.
Moreover, 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 platforms 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.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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The 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 growth potential. 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.
Additionally, with key players 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.
Market Scope |
|
Report Coverage |
Details |
Page number |
185 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.11% |
Market growth 2024-2028 |
USD 3.66 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.8 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
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 Communications Co. Ltd. |
Market dynamics |
Parent market analysis, 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 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 Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
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