Market Insights & Analysis: Global Action Camera Market (2023-28):
The Global Action Camera Market is estimated to grow at a CAGR of around 10.42% during the forecast period, i.e., 2023-2028. These cameras are designed to use for recording high-paced activities. These cameras are small in size, rugged, & waterproof for capturing immersive action shots. They allow you to capture adventure photos & videos & can be mounted on helmets, handlebars of motorcycles, chests, as well as tripods. The market is projected to witness considerable growth owing to various advantages offered by these cameras than either DSLR or standard point-and-shoot ones, like top-notch quality 4K recording without any inconvenience, compact size, and the ability to capture different angles in action or extreme sports, such as skydiving & scuba-diving, alongside their use as a car dash-cam.
These cameras are designed in such a way that all the videos shot on them provide a first-person perspective to viewers. This generates interest among viewers as they can develop their personal views on surfing, rock climbing, and skiing activities. Being small in size and having excellent ‘point of view’ features, these cameras have enabled people to capture their adventures & instantly share them on social media platforms.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy, Rest of Europe|
|Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific|
|South America: Brazil, Argentina, Rest of South America|
|Middle East & Africa: UAE, Egypt, Qatar, South Africa, Saudi Arabia , Rest of Middle East & Africa|
|Key Companies Profiled||Nikon Corporation, Sony Corporation, GoPro, Insta360, SAMSUNG Electronics Co., Olympus Corporation., Xiaomi Corporation, SZ DJI Technology Co., YI Technology., Drift Innovation., Rollei GmbH & Co. KG., Garmin Ltd., TOSHIBA, World Wide Lances, Others|
|Unit Denominations||USD Million/Billion|
Moreover, the rise in sports events, adventure activities & music shows, the increasing consumer demand for gadgets integrated with advanced technologies, growing trends of sharing content on social websites, and the booming consumer electronics sector are several other notable factors projected to stimulate the market in the coming years.
Global Action Camera Market Key Drivers:
Ever-increasing Penetration of Social Media Worldwide - The rising popularity of social media & various short video platforms has positively impacted the demand for action cameras in recent years. Ever-increased adaption of smartphones, advancing usage of the internet, the emerging trends of vlogs, and affordable internet plans are the prime aspects projected to drive the market through 2028. For the purpose of gaining popularity on social media platforms like Instagram, Facebook, Tik-Tok & YouTube, there is a huge participation of youth in video content creation. Consequently, the growing interest of the current generation in becoming social media influencers & content creators, as well as gaining popularity on social media platforms is spurring the growth of the market overall.
Global Action Camera Market Key Trends:
Advent of Wi-Fi Connectivity in Action Cameras - The use of action cameras is widespread among vloggers, video producers, and content creators for their live & cinematic productions. The content is stored & shared using a Micro USB C or Micro-USB cable, which increases the hassle of sharing. To meet the consumer's desire to easily share content, many companies have begun to include Wi-Fi sharing options in the cameras. The Wi-Fi feature also allows control through smartphones & tablets via an app. The new features facilitate the wireless sharing of content between devices, which has made them attractive to many consumers, hence making these cameras trending in the market.
Global Action Camera Market Possible Restraint:
Short Battery Life to Impede the Market - With the growing storage as well as high frame rate & resolution recording option the limited battery life capacity as posed a serious challenge for the global action camera manufactures. As more & more features are being incorporated, even on flagship GoPro devices like the Hero 10. Most of them have a battery life of about 120 minutes at max. Due to the shorter battery life of these cameras, it can be difficult to record sports activities that require rigorous use. In light of the limited battery concerns among individuals, their market demand could be affected.
Global Action Camera Market Growth Opportunities
Enhancement of Action Camera with Evolving Features - Dual base ISO is a new feature that some companies are introducing in new launches with other additional features, which come with two native ISO settings, 800 & 5000. Simply put, having two film stocks in a single camera is advantageous. Since its introduction, modern cameras can film in extremely low light with minimal noise. Another key area of focus for the companies is enhancing the file-sharing capabilities of action cameras. With the availability of large sensor sizes and resolutions, such as 4K and above files, size has heightened, necessitating the need for wireless data transfer options. Many businesses have chosen to include Wi-Fi sharing to attract a diverse range of consumers who require fast transfer rates via wireless connections.
Global Action Camera Market (2023-28): Segmentation Analysis
Global Action Camera Market report by Markntel Advisors includes segmentation analysis based on Type, Resolution, Distribution Channel, and End-User. This breakdown allows businesses to identify specific market segments and tailor their marketing and product strategies accordingly, maximizing their chances of success in the Global Action Camera Market.
Based on Type:
Of them all, the 360-degree camera holds a prominent share of the market, as it eliminates all blind spots completely. These cameras become more useful in extreme activities because they can record a 360-degree view of any event in a more immersive manner. Additionally, they are handy & easy to carry for off-road activities to achieve a clear view of the objects & obstacles around the vehicle, thereby witnessing high demand & augmenting the overall market growth.
Besides, Cube & Box style are other prominent categories grabbing a sizeable market share globally. Regardless of the camera style, both provide compact and easy-to-use action cameras for fast-moving activities such as sports. With the advent of higher frame rate recording & Ultra HD capability, both box & cube style would portray huge gains in market share in the forecast years, i.e., 2023-2028.
Based on Resolution
Ultra HD segment has acquired a noticeable market share in the Global Action Camera market in the historical years, i.e., 2018-2022. Ultra HD (4k & above) provides a high pixel density with the image produced, as well as a higher resolution on large screens. Higher pixel density, such as 4K, also provides better image quality for professional content creators who need videos and images for post-processing.
Various resolutions of videos above 4k, such as 6K & 8K, are also rapidly gaining popularity among many brands. GoPro, Sjcam, DJI, and Arashi Vision Inc. are some prominent companies that have included many of the bundled features to attract a wide variety of customers. For instance,
With the growing demand for immersive cameras with improved sensor size & resolution, the demand for the 4k & above camera market is expected to exhibit considerable growth during 2023-2028.
Based on Distribution Channel:
The offline segment held a sizeable market share in the Global Action Camera market during 2018-2022. With the ease of availability in offline stores as well as in-hand & physical check of the product, a large number of customers have opted for the offline platform to purchase the products.
However, the Online distribution channel exhibited a noticeable growth in share in the market during 2018-2022. With the boom in online transactions and shopping, as well as the easier availability of a large number of brands for comparison on e-commerce platforms, a large number of customers have opted for online channels for purchase.
Online channels also provide cashback and other payment solutions, which provide customers with attractive prices. The extra services offered on e-commerce platforms, like long-term membership, coupons, gift vouchers, etc., are other benefits that incline customers toward buying products, including action cameras, online. With the wide availability of brands & ease of delivering the product with growing distribution & supply chain, the online segment is further expected to increase its share in the during the forecast period.
Based on End User:
Here, the Personal category is anticipated to hold a significant market share in the global market in the coming years. This category of action cameras includes low-end specifications in terms of picture quality, image sensor, shooting fps, ISO & exposure control, due to which, the prices are kept low to offer introductory & economical pricing. Furthermore, many personal category cameras include high-end features such as Wi-Fi & Bluetooth, which aid in connecting peripheral devices to improve handling & usability as well as ease of data sharing.
Moreover, owing to the emerging trends of social media and the increasing number of opportunities for earning from online platforms, such as Instagram, YouTube, Reddit, etc., have encouraged the young-age customers to buy these cameras for posting live-action photos & videos for online paid promotion purposes through content creation.
Global Action Camera Market Regional Projection
Geographically, the market expands across:
Of all regions globally, North America is anticipated to hold a significant share of the Action Camera market during 2023-28, owing to significant technological advancements in consumer electronics & the high per-capita income of people. Moreover, the ever-increasing social media penetration & the presence of leading manufacturers such as GoPro, Nikon Corporation, Garmin Ltd., etc., in the US are other notable aspects contributing to the regional market growth.
Moreover, other regions such as Asia-Pacific & Europe are some of the fast-growing markets for this product. Owing to the growing consumer inclination toward extreme sports & adventure tourism, content creation, coupled with the mounting awareness among people of the advanced features, has generated lucrative prospects for the market in the respective regions.
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Frequently Asked Questions
A. The Action Camera market is expected to grow with a CAGR of around 10.42% in the forecast period.
A. Ultra HD & Full HD are expected to hold a leading position in the Action Camera market.
A. The rising usage of social media platforms, owing to the trends of sharing each & everything online is the prime aspect projected to drive the Action Camera Market through 2028.
A. The key companies operating the Action Camera Market include Nikon Corporation, Sony Corporation, GoPro, Insta360, SAMSUNG Electronics Co., Olympus Corporation, Xiaomi Corporation, SZ DJI Technology Co., YI Technology, Drift Innovation, Rollei GmbH & Co. KG., Garmin Ltd., TOSHIBA, and World Wide Lances.
A. The advent of Wi-Fi connectivity & 4k recording features in action camera is boding well for the Action Camera Market growth.
A. The major growth restraint for Action Camera Market is the short battery life of action camera, owing to increasing number of high-end features in them.
Global Action Camera Market Research Report (2023-2028) - Table of Contents