Action Camera Market Size to Reach 4,372.7 Million in 2028 | Increasing Trend of Sharing Media Files on Social Media Portals, Rising Accessibility of Social Media Apps are Some Key Factors Driving Industry Demand, says Emergen Research

VANCOUVER, B.C., Aug. 25, 2021 /PRNewswire/ -- Emergen Research has published a latest report for the semiconductors and electronics market titled "Action Camera Market By Product Type (Box Type, Cube Type, Bullet Type, Periscope and 360°), By Resolution (Ultra-High Definition, Full High Definition, High Definition, Standard Definition), By Application (Sports, Emergency Services, Recreational Activities), and By Region Forecast to 2028 ."

According to a current analysis Emergen Research, the global action camera market size was USD 2,302.1 million in 2020 and is expected to reach USD 4,372.7 million in 2028 and register a revenue CAGR of 8.3% over the forecast period 2021-2028.

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Market Dynamics:

Growing trend of live streaming, increasing penetration of internet connectivity and social media apps, availability of wide range of smart gadgets, and rapid advancements in consumer electronics are key factors expected to drive market revenue growth over the forecast period. Rising popularity of social medial platforms such as Facebook, Snapchat, Instagram, TikTok, and YouTube Shorts and increasing trend of sharing digital content such as photographs and videos have created a robust demand for action cameras across the globe. Increasing demand for these cameras among social media influencers and younger generation has compelled manufacturers to develop advanced action cameras with add-ons features to enhance user experience. Introduction of action cameras with features such as panoramic recording, fast Wi-Fi connectivity, and easy connection with other devices for seamless data transfer has further boosted revenue sales of the action camera market, in turn, driving overall revenue growth of the market.

Action cameras are compact in size, durable and lightweight, and waterproof and are majorly used to capture clear, crisp, and high-definition images in rich color. Actions cameras are majorly designed to record actions while performing them and they use image sensors to take photos in burst mode, time-lapse mode, and HD video recordings. Action cameras require minimal interactions once the shooting begins and this enables a continuous capture of action, which is then recorded into microSD card. These camera are often associated with outdoor sports and are often attached to helmets or handlebars. Presence of advanced sensors in the cameras enhances the quality of the images and videos and this has boosted adoption of action cameras among social medial influencers, adventurists, and in surveillance and military personnel. 

However, increasing penetration of advanced smartphones with superior quality cameras and improved features and growing use of these cameras to capture images and videos can lower demand for action cameras and restrain market growth to a certain extent over the forecast period. In addition, availability of video and photo editing apps on smartphones, convenient sharing of videos and photographs across social media platforms, and cost-effectiveness of smartphones as compared to action cameras are expected to further hamper market growth going ahead.

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COVID-19 Impact Analysis

• The virus outbreak and social distancing norms and restrictions severely disrupted the overall business landscape and operations worldwide.
• COVID-19 pandemic and lockdowns have resulted in several countries shutting down airports, ports, and commercial and domestic transportation. This had impacted manufacturing activities and operations globally and took a toll on the economy of various countries.
• Sudden and drastic downturn in economic activity caused a slowdown in manufacturing, production, import/export, and other sectors and also resulted in employment loss to a major extent.
• Supply impacts were further compounded due to challenges on the demand-side owing to reduced disposable income, depleting savings, and increased concerns and uncertainties.
• Emergence of variants of the virus and rise in infection rates during the initial waves and subsequent lockdowns has severely impacted operations and disrupted supply chains.

Bullet segment to register robust revenue CAGR:

Bullet type segment is expected to register robust revenue CAGR over the forecast period owing to numerous advantages of bullet action cameras such as easy installation, longer range of recording, availability of a larger lens, and convenient usage during hiking, biking, and other outdoor activities.

High demand for action cameras in sports activities:

Sports segment is expected to account for largest revenue share in the global market attributed to increasing number of sports and adventure activities, growing number of sports enthusiasts opting for biking, hiking, climbing, and skateboarding, and increasing use of these cameras among athletes to enhance and improve game and sports performance.

North America to dominate other regions in the market:

North America is expected to account for a significantly large revenue share attributed to large number of extreme sports activities, rising demand for body wear action cameras owing to growing focus of government to improve firefighting, paramedical, and surveillance activities, growing penetration and popularity of social media platforms, and increasing investment in R&D activities to develop action cameras with advanced and innovative features. In addition, presence of key manufacturers and social media firms in the region is also contributing to the revenue growth of the North America market. 

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Major Companies in the Market:

• Eastman Kodak Company
• Olyumpus Corporation
• Toshiba Corporation
• CASIO Computer Co. Ltd.
• Panasonic Corporation
• Sony Corporation
• Garmin Ltd.
• SJCAM Ltd.
• GoPro Inc.
• TomTom International BV

For the purpose of this report, Emergen Research has segmented the global action camera market on the basis of product type, resolution, application, and region:

Product Type Outlook (Revenue, USD Million; 2018-2028)

• Box Type
• Cube Type
• Bullet Type
• Periscope and 360°

Resolution Outlook (Revenue, USD Million; 2018-2028)

• Ultra-High Definition
• Full High Definition
• High Definition
• Standard Definition

Application Outlook (Revenue, USD Million; 2018-2028)

• Sports
• Emergency Services
• Recreational Activities
• Others

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Regional Outlook (Revenue, USD Million; 2018-2028)

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K
• Germany
• France
• Italy
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• U.A.E.
• South Africa
• Rest of MEA

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