ACTION CAMERAS MARKET REPORT OVERVIEW
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The global action cameras market size was USD 2104.4 million in 2019 and will touch USD 3199.9 million by 2026, exhibiting a CAGR of 6.1% during the forecast period.
Action cameras are small, rugged units developed for taking capturing well-detailed video and photos in harsh environments. The sports enthusiasts and the outdoors persons employ them for filming the exciting scenes of the activities they involve themselves, because the cameras have wide angle, water resistant body and shock resistant properties. Nowadays, action cameras have become extremely popular too, because they feature hands-free operation. This characteristic makes it possible to record all the adventures during skiing, biking, surfing and so on. These cameras are equipped with highly performing gimbals to provide smooth recordings, as well as features such as slow motion and time lapse modes. The versatility and compactness of action cameras makes them indispensable for those who value capturing epic moments no matter what the conditions are.
The action cameras market has witnessed considerable growth in recent period as a result of the rapid technology development, the growing influences of sporting and performing outdoor activities, as well as the wide application of social networks. The key factor contributing to further development of the market is the progress of the camera technology, cameras with more clear images, stabilized images and tougher materials. 4K resolution, waterproof and image stabilization functions are some of the features that the producers consider to design for the travellers that are very adventurous. Another fact is that the rise of social media that is the Instagram, the YouTube, and TikTok as platforms for media content has generated a groundswell in the need for of action cameras as the content creating tools. Individuals are nowadays recording their happiness and sharing it as a brand identity with the world in video, and photos; as a result, aspiring adventurers with higher needs for capture of ecstasy have more reason to adopt action cameras.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The advent of the covid-19 pandemic had a lot of negative implications for the action cameras market, as people's spending on non-essential things went down, suppressed further, with the fact that countries' travel restrictions caused individuals to remain in one place, and no longer spent time outside. Supply chain problems and production hiccups drove to lowering sales and revenue resulting in industry's downfall. In turn, a fall off of disposable incomes and mindfulness about the future job security resulted in tackling down of high-end consumer electronics buyers such as action camera. But the market displayed its inner strength due to innovative marketing that came along with the idea of action cameras being great for streaming or taking photos during virtual events as well as they can be used for making some content for the online use, partially getting over the destruction made by the pandemic.
LATEST TRENDS
"Rising Demand for Better Image Quality to Drive Market Growth"
There are several important trends that influence the action cameras market and these trends determine its progress and direction. One of the major developments is the growing customer base wanting clear and smooth images, which is often to enhance the quality of the images and provide smooth video actions especially when capturing a lot of motion. Producers are on their way by improving their devices with latest picture sensors and system on chip. Besides, a shift is being observed towards of the use of being compact and lightweight in the manufacturing. With the trend of portability and flexibility growing, users are looking to buy an action camera that is easily portable and offers a universal mounting arrangement to enable it to be used on different surfaces and accessories, thus providing variety in things to shoot. Therefore for technology manufacturing firms the design manufacturing of compact cameras is the key issue to address since they do not want to compromise on performance and durability. Furthermore, there is an increasing need for advanced stabilization technologies for reducing the shaky footage, so spectator get high-quality and flawless video form.
ACTION CAMERAS MARKET SEGMENTATION
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By Type
Based on type the global market can be categorized into Consumer (Outdoor Pursuits and Evidential Users), Professional (TV Shipments, Emergency Services and Security).
- Consumer (Outdoor Pursuits and Evidential Users): Consumer-grade action cameras turned into a valuable tool among a variety of outdoor sports and surveillance users. These kind of cameras are specially made in such a way that they are lightweight, tough and have impressive capability of shooting good footage in different open environments. Many of these cameras are used by evidence users such as tourists, adventurers and hobbyist persons due to their smallness and usability therefore they use them effortlessly for documenting their experiences.
- Professional (TV Shipments, Emergency Services and Security): Professional- grade action cameras have been customized to serve particular purposes like filming television programs, securing emergency services, and tracking down security cases. Security cameras in nowadays are designed to have the most advanced features which include ultra HD recording, live streaming, compatibility with professional accessories such as attaching systems or stabilizing gears. Besides protecting emergency premises, security concerns are another common application of surveillance cameras.
By Application
Based on application the global market can be categorized into Outdoor Pursuits, Evidential Users, TV Shipments, Emergency Services, Security.
- Outdoor Pursuits: Action cameras are beloved among outdoor enthusiasts who film themselves exploring the wilderness or engaging in adventure sports like hiking, mountain biking or skiing, or surfers who record their time on the waves.
- Evidential Users: It is common for law enforcement authorities, military personnel, and others in the same profession to use action cameras, as it helps them gather information for their trial.
- TV Shipments: The action cameras are the essential tools in the production process, which are mainly applied in the exploration of action-packed scenes in reality shows, documentaries, and sports broadcasts.
- Emergency Services: Firefighters, paramedics, and other emergency workers effectively document their work performance through action cameras, not only in actual operations but also during training drills.
- Security: With action cameras now becoming integral parts of security systems as monitoring and surveillance tools, they have unlocked a huge number of opportunities.
DRIVING FACTORS
"Rise of Adventure Sports and Outdoor Activities to Boost the Market"
Action cameras are highly popular in the adventure sports like rock climbing, mountain biking, surfing, and skiing among others which have undoubtedly boosted the market of action cameras. People that have participated in these activities want to make their memory in high range of quality and they want to share it on social media platforms. It also drives demand for resistant cameras that suit in the wild environment. Increasing number of social media platforms like Instagram, YouTube, and TikTok have driven the sales for this category. Consumers are getting more inclined to generate a nice and engaging content involving vlogging and action-filled videos. The action cameras are very easy and popular devices with intriguing footage that is helpful to the filmmakers and aligns well with the future audiences. Action cameras not only provide a means for capturing exhilarating moments, but they also play a crucial role in personal safety and security. People are often found using these devices as cameras in their cars while driving or as cameras on their bodies for outdoor activities such as recording incidents and holding themselves accountable. The increase of the importance of safety and the accountability have developed the need for action cameras driving action cameras market growth.
"Technological Advancements to Expand the Market"
The ongoing improvement of the camera technology has provided action cameras with the features, thus making them more desirable to consumers. Advanced functions like 4K video shooting, image stabilization, waterproofing, and connectivity have developed not only the quality of user experience, but also diversified the fields of application. Action cameras are acknowledged for their minimalist weighted design that brings flexibility to frame various on-site brief situations without using hefty machinery. Their portability and easy operation are critical factors for their popularity among enthusiasts for outdoor activities and travellers seeking quick recording on the go, as well as average individuals who just want no hassle solution.
RESTRAINING FACTORS
"Price Sensitivity to Impede Market Growth"
Action cameras are often being viewed as high-end products rather than essential need, making prices vulnerable to the market conditions. High-end versions of leading brands can be too expensive for most consumers and therefore result in lower rates of adoption. With many purchasers being sensitive to the market prices, some prefer to go for the cheaper alternatives or for the older models instead of purchasing the new technology appears. Nowadays, every smartphone comes packed with an advanced camera and this is a vital issue for action cameras as a product. Consumers may not want a separate action camera and may regard smartphones as more convenient and flexible in recording routine use cases, thus limiting the likelihood to buy an action camera.
ACTION CAMERAS MARKET REGIONAL INSIGHTS
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"North America Dominating the Market due to Presence of a Large Consumer Base"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
North America has emerged as the most dominant region in the global action cameras market share. Action cameras are popular in the region as they are used by a large number of outdoor sports enthusiasts and sports enthusiasts to capture their adventures. Another factor adding to the market expansion is the presence of influential companies such as GoPro Inc., headquartered in the U.S. that has brought advanced products and aggressive marketing to the market. Furthermore, the region's strong economy and high disposable income levels render it suitable for consumers to rustle out the savings for buying up market action cameras.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The action cameras market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in action camerass, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- GoPro (U.S.)
- Garmin (U.S.)
- Sony (Japan)
- SJCAM (Hong Kong)
- Panasonic (Japan)
- RICOH (Japan)
- iON (U.S.)
INDUSTRIAL DEVELOPMENT
November 2022: GoPro Inc. declared that the GoPro Hero 11 Black series cameras would be available worldwide. The Hero 11 Black, the Hero 11 Black Creator Edition, and the Hero 11 Black Mini are the three versions in the Hero 11 Black camera line. The three cameras include the widest field of view for a GoPro Hero camera, an upgraded larger sensor with 10-bit colour depth, and improved video stabilisation.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 2104.4 Million in 2019 |
Market Size Value By |
US$ 3199.9 Million by 2026 |
Growth Rate |
CAGR of 6.1% from 2019 to 2026 |
Forecast Period |
2022-2026 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the Action cameras market expected to touch by 2026?
The Action cameras market is expected to reach USD 3199.9 million by 2026.
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What CAGR is the Action cameras market expected to exhibit by 2026?
The Action cameras market is expected to exhibit a CAGR of 6.1% by 2026.
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Which are the driving factors of the Action cameras market?
Advancements in technology, increasing consumer interest in outdoor activities, and the rising popularity of social media platforms are some of the driving factors of the Action cameras market.
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What are the Action cameras market segments?
The Action cameras market segmentation that you should be aware of, which include, Based on type the action cameras market is classified as Consumer (Outdoor Pursuits and Evidential Users), Professional (TV Shipments, Emergency Services and Security). Based on application the action cameras market is classified as Outdoor Pursuits, Evidential Users, TV Shipments, Emergency Services, Security.