NEW
YORK, July 18, 2024 /PRNewswire/ -- The global
action camera market size is estimated to grow by USD 3.65 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
over 15.11% during the forecast period. Growing
popularity of social networking sites is driving market
growth, with a trend towards rapid shift in demand from
developed nations to developing nations. However, rising
popularity of smartphones poses a challenge. Key market
players include 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..
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Action Camera Market
Scope
|
Report
Coverage
|
Details
|
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 3657.3
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
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
|
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 Driver
The global action camera market is experiencing a significant
transition from developed to developing nations. This shift is
primarily due to the escalating popularity of adventure tourism and
improving sports facilities in emerging economies. The reach of
action cameras remains limited in countries like India and China, creating a vast business opportunity
for vendors. Key driving factors for sales in developing nations
include rising urbanization, increasing disposable income, growing
usage of social media, and a burgeoning interest in photography.
These trends are expected to boost the demand for action cameras
during the forecast period.
The action camera market is experiencing significant growth,
driven by primary drivers like voice control technology and extreme
sporting events. Global demand is high for these compact devices,
particularly during seasonal cycles such as holidays and festivals.
Consumers, both amateurs and professionals, are using action
cameras to capture life experiences in Full HD, HD, Ultra HD, and
standard resolution. Sports like mountaineering, rafting, boating,
skiing, underwater sports, and even bicycle racing are popular use
cases. Brands like YI Technology lead the market with innovative
features like AI technologies and VR techniques. Accessories like
dashboard mounts and underwater housings expand the market's reach.
Despite lockdowns, the market continues to thrive, with trends like
Periscope and 360-degree cameras gaining traction. Action cameras
offer a unique way to exploit life's adventures and create
high-quality films and photographs.
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Market Challenges
- The sales of smartphones have significantly increased since
their introduction to the mass market in 2009. This growth can be
attributed to the declining average selling price (ASP) and
advancements in communication network infrastructure. High-end
smartphones, such as the iPhone 11 Pro, Google Pixel 4, and Samsung
Galaxy Note 10 Plus, offer superior cameras capable of shooting
high-quality videos. As a result, smartphones have become an
essential device for many consumers. Global electronics
manufacturers are focusing on developing affordable smartphones
with advanced features, including high-end cameras, to cater to the
growing middle-class population, particularly in developing
countries like China and
India. This trend is expected to
hinder the growth of the global action camera market during the
forecast period.
- The Action Camera Market is experiencing significant growth due
to increasing demand from Recreational Activities, Emergency
Services, and Adventurous sports. Digital technology advances, such
as updated processors and 4K
resolution, are driving market traction. Market participants are
focusing on meeting Shooting needs with features like wide-angle
lenses, horizon leveling, and video stabilization. Sky diving,
bungee jumping, scuba diving, and extreme sports events are popular
use cases. Youth population and Social media platforms are key
drivers, with IoT integration enabling cloud storage services and
real-time sharing. Technologically advanced devices with bigger
sensors, 10-bit color depth, and enhanced video stabilization are
emerging trends. GoPro offers touch-sensitive screens and Boost
mode for improved user experience. Battery capacity is a challenge,
as is meeting the needs of Adventure Enthusiasts in various
shooting conditions.
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challenges - Request a sample report!
Segment Overview
This action camera market report extensively covers market
segmentation by
- Technology
- End-user
- 2.1 Commercial
- 2.2 Residential
- Distribution Channel
- Geography
- 4.1 North America
- 4.2 Europe
- 4.3 APAC
- 4.4 South America
- 4.5 Middle East and
Africa
1.1 Ultra HD- The action camera market has
experienced significant growth in recent years due to increasing
consumer interest in capturing and sharing adventures. These
compact, portable devices offer high-definition video and photo
capabilities, making them ideal for extreme sports and travel.
Major players in the market include GoPro and Sony, who
continuously innovate to meet consumer demands. Competition is
fierce, leading to affordable pricing and advanced features. This
market trend is expected to continue as technology advances and
consumers seek new ways to document their experiences.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global body-worn camera market is experiencing robust growth
driven by increasing adoption in law enforcement and security
sectors. These cameras enhance transparency, accountability, and
safety in operations, fueling demand worldwide.
Military adoption of body-worn cameras is rising, driven by
their role in enhancing situational awareness and operational
effectiveness. These ruggedized cameras offer real-time data
capture and analysis capabilities, supporting modern warfare
requirements.
The automotive dashboard camera market is expanding due to
growing vehicle safety concerns and insurance mandates. These
cameras provide crucial evidence in accidents and deter theft,
driving their integration into modern vehicles globally.
Research Analysis
The Action Camera Market is experiencing significant growth,
driven by the adventurous spirit of the youth population and the
desire to capture and share their experiences on social media
platforms. Technologically advanced devices with 4K resolution and IoT capabilities are primary
drivers of this market traction. Emerging trends include AI and VR
techniques, providing immersive experiences for users. Adventure
enthusiasts are increasingly using action cameras for extreme
sports events such as mountaineering, rafting, boating, skiing,
underwater sports, surfing, climbing, skydiving, bicycle racing,
and bicycling. Holidays and seasonal cycles also contribute to
market demand. Box Style and Cube Style cameras offer versatility
and compactness, making them popular choices for consumers. Global
demand for action cameras continues to rise, fueled by the growing
popularity of these devices in various industries and
applications.
Market Research Overview
The Action Camera Market is experiencing significant growth as
Adventure Enthusiasts seek to capture and share their extreme
experiences in 4K resolution on
Social Media Platforms. IoT technology and the Youth population's
affinity for tech-savvy gadgets are primary drivers. Extreme sports
events, holidays, and seasonal cycles continue to fuel market
traction. Technologically advanced devices with bigger sensors,
10-bit color depth, enhanced video stabilization, and the broadest
field-of-view are in high demand. Offerings from companies like
GoPro, with touch-sensitive screens and voice control, lead the
trend. Emerging trends include AI and VR techniques for immersive
experiences. Adventurous sports such as mountaineering, rafting,
boating, skiing, underwater sports, and high-quality films and
photographs are popular use cases. Accessories like dashboard and
ocean mounts expand the market, catering to consumers, amateurs,
and professionals alike. Lockdowns and holidays like Thanksgiving
have boosted sales. Periscope and 360-degree cameras are new
additions, offering unique perspectives. Market participants
include YI Technology and others, with updated processors and cloud
storage services. Shooting needs vary, from standard resolution to
Full HD, HD, Ultra HD, and Standard Resolution. The market is
diverse, catering to various shooting needs, from extreme sports to
emergency services and recreational activities.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- End-user
-
- Distribution Channel
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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