At 8.63% CAGR, the Action Camera Market Size is Expected to Reach $ 411.2 Million by 2027, According to Brandessence Market Research
LONDON, 22 November 2021 / PRNewswire / – According to Brandessence Market Research, the action camera market size reached $ 2,310.4 million valuation in 2020.The market size for action cameras is expected to reach $ 411.2 million by the end of 2027, increasing to 8.63% of the CAGR by the end of 2027. The growing craze for various types of photography, including wildlife photography, nature documentaries, family memories, Underwater photography, and selfies for social media, remains the main driver of the popularity of action cameras. Previously, the high prices of action cameras limited their reach to consumer markets. However, the increasing availability of cheap yet advanced devices for capturing unforgettable moments remains a major driver for action cameras around the world.
Action Camera Market: Competitive Analysis
The action camera market is a fragmented and innovative landscape. Along with the entry of GoPro, a mostly seeded startup, many others have also leapt into the landscape, with relatively low barriers to entry. Collaborations and acquisitions remain a key strategic objective for players in the action camera market, where new players, despite major success, continue to struggle around pricing and global brand visibility. Some key players in the action camera market are Garmin Ltd, GoPro, Inc, TomTom NV, Olympus Corporation, Xiaomi Corporation, Nikon Metrology NV (Nikon Corporation), Panasonic Corporation, Sony Corporation, TomTom NV, Drift Innovation Ltd., SJCAM Limited and others
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Action Camera Market: An Overview
The growing craze for photography, the technology surrounding 360-degree cameras, and growing advancements such as virtual reality promise major growth for the action camera market. Action cameras today include promising technologies, including 4k resolution, wide angle lens and high quality video output, with rugged, waterproof and small devices. The growing demand for photography due to social media, the increased demand for travel after the coronavirus pandemic, the growing popularity of photographic adventures remain the main drivers of growth. The increased involvement of tech giants like Facebook, Google and new offerings like GoPro, RealMe and other brands also remains a major accelerator for the growth of the action camera market.
The action camera, also known as the action camera, is a simple digital camera, known for its ability to capture adventure in action. These are the same cameras that vloggers often put on their hats, or on their bikes to capture a biking or mountaineering adventure. In order to undertake these expeditions, action cameras are often built in a durable manner, with rugged, compact and waterproof qualities. In addition, these typically include features like slow motion video recording at 120 or 240 fps, high definition video, CMOS image sensors, and modes like time lapse and burst mode. to capture the live action. These cameras are usually supported by a mount such as a hat or helmet. Manufacturers of action cameras also design these cameras in such a way that they can capture the action continuously once recording has started, with very little interference. Micro SD is the most common form of storage on these cameras, with connectivity like USB ports for transferring data.
Action Sports Industry Analysis:
Extreme sports like base jumping, surfing, wetsuit flying, among others, are fast becoming a trend among the current generation. These sports require a first person approach to capture the action, because that is where the thrill of these sports lies. Plus, the new action cameras deliver that thrill by being mounted on the rider’s surfboards, handlebars, wings or wrist and record all video footage continuously. Companies like GoPro have instilled a wave of excitement among extreme sports enthusiasts. An increasing number of new players like Sony, Panasonic, Ricoh, TomTom, Toshiba, Xiaomi, Garmin, among others, continue to enter the market, diversifying the product offerings and bringing the growth of the action cameras market to new levels. unprecedented levels. In 2014, when companies like GoPro made their mark, camera sales rose 44% globally, with new features like 4k or even 5.8k resolve to find their way into the world of extreme sports. With growing demand for adventures and features like UltraHD, and growing demand for action cameras in key applications such as surveillance and security, the action camera market is expected to experience robust growth over the years. periods 2021-2027.
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Action Cameras Market: Regional Analysis
The Action Cameras market report divides the market into key regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the North America is expected to hold the highest revenue share during the forecast period. The strong demand for extreme sports, mountaineering and other adventures, and the high penetration of action cameras remain the main drivers of growth. The Asia Pacific The region is expected to experience the fastest growth during the forecast period as the growing demand for wild photographs, selfie adventures and family travel remain key attractions for end consumers.
Action Camera Market: Notable Developments
In 2018, Sionyx, a player in infrared imaging technology, announced an HD action video camera, with “real” day and night imagery. The camera is designed to be just 8 ounces and can fit comfortably in one hand for adventure action. The company claims to have used its patented technology for the highest night vision optics, while bringing the price down to $ 799, from thousands of dollars of its other models. The new feature that allows this camera to shoot high quality videos in daylight and twilight. Continuous advancements in new features to make action cameras an attractive prospect to consumers remain a key necessity for the growth of the action camera market.
In November 2021, the NFL and MLB broadcast deployed the Sony HDC-F5500 action camera to capture live footage. The camera uses a shallow depth of field to bring more vividness to the cinematic image quality. The end result is more realistic football and baseball game action. The growth of action cameras in major leagues like the NFL is a promising sign for the commercial growth of the action camera market. The growth of action cameras in sporting event coverage is expected to give way to increased sales of accessories, which remain critical to improving margins, as despite the popularity of companies like GoPro, manufacturers in the camera market Action continue to seek out new ways like user-generated content to make room for new growth. This remains a potential drag on the growth of the action camera market.
- The rest of europe
- South Korea
- Rest of the APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of the MEA
Segmentation of the action camera market
By distribution channel:
- Points of sale
- Supermarkets / Hypermarkets
- Specialty stores
By type of resolution:
- Full HD
- Ultra HD
By product type:
- Box type
- Cube type
- Bullet type
- Periscope and 360 degrees
By the end user:
- Travel and tourism
- Recreational activities
- Entertainment and media
- Emergency services
- Other applications
Main advantages of Global Action camera Marlet Report
- Global Non-Action Cameras Market report covers in-depth historical and forecasting analysis.
- The Global Action Camera Market research report provides detailed information regarding market introduction, market summary, global market revenue (revenue in USD), market drivers, market restraints, market opportunities market, competitive analysis, regional and national levels.
- The global Action Cameras market report helps in identifying opportunities in the market.
- The Global Action Cameras Market report covers an in-depth analysis of the emerging trends and competitive landscape.
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