At 8.63% CAGR, Action Camera Market Size is Projected to reach USD 4116.2 Mn by 2027, Says Brandessence Market Research

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22 Nov, 2021, 11:30 GMT

LONDON, Nov. 22, 2021 /PRNewswire/ -- According to Brandessence Market Research, the global action camera market size reached USD 2310.4 million valuation in 2020.The action camera market size is likely to reach USD 4116.2 million by 2027 end, rising at 8.63% CAGR by 2027 end.  Growing enthusiasm for various types of photography including wild-life photography, nature documentaries, family memoirs, underwater photography, and selfies for social media remain key driver for popularity craze of action cameras. Earlier, the high-price points of action camera devices limited their reach to consumer markets. However, the growing availability of low-cost, and yet advanced devices for capturing unforgettable moments remain a major driver for action cameras globally.

Action Camera Market: Competitive Analysis

The action camera market is a fragmented and innovative landscape. Along with entry of GoPro, an essentially bootstrapped startup, many others have also jumped into the landscape, with relatively low barriers to entry. Collaborations and acquisitions remain key strategy focus for players in the action camera market, wherein 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 N.V., Olympus Corporation, Xiaomi Corporation, Nikon Metrology NV (Nikon Corporation), Panasonic Corporation, Sony Corporation, TomTom N.V., Drift Innovation Ltd., SJCAM Limited and others

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Action Camera Market: An Overview

Growing craze of photography, 360-degree camera surrounding technology, and increased advancements like Virtual Reality promise major growth for the action camera market. Action cameras today include promising technologies including 4k resolution, wide-angled lens, and high-quality video output, with rugged, waterproof, and small devices. Growing demand for photography due to social media, increased demand for travel after the coronavirus pandemic, growing popularity of photographic adventures remain key drivers to growth. The increased involvement of tech giants like Facebook, Google, and new offerings like GoPro, RealMe, and other brands also remain a major boost to growth of the action camera market.

Action camera, also known as action cam is a simple digital camera, which is known for its ability to capture adventure in action. These are same cameras that vloggers often install on their hats, or bikes to capture a biking or a mountaineering adventure. In order to undertake these expeditions, actions cameras are often built durable, with rugged, compact, and waterproof qualities. Furthermore, These usually also include features like slow motion video recording at 120 or 240fps, high-definition video, CMOS image sensors, and modes like time lapse, and burst mode for capturing live action. These cameras are usually supported by a mount like a hat, or helmet. Action camera manufacturers also design these cameras in such a way that they can capture action continuously once the recording begins, with very little interference. Micro SD is the most common form of storage on these cameras, with connectivity like USB ports to transfer data.

Action Sports Industry Analysis:

Extreme sports like base jumping, surfing, wing suit flying, among others are quickly becoming a trend among the current generation. These sports require a first-person approach to capturing action, as this is where the thrill in these sports lies.  Moreover, new action cameras offer this thrill by being mounted on surfboards, handlebars, wings, or wrist of the rider and record all video footage continuously. Companies like GoPro have infused a wave of enthusiasm among enthusiasts of extreme sports. Increasing number of new players like Sony, Panasonic, Ricoh, TomTom, Toshiba, Xiaomi, Garmin, among others continue to enter the market, diversifying product offerings, and taking action camera market growth to unprecedented heights. In 2014, when companies like GoPro made their mark, the camera sales increased by 44% globally, with new features like 4k or even 5.8k resolution making their way into the extreme sport world. With growing demand for adventures, and features like UltraHD, and growing demand for action cameras in key applications like surveillance and security, the action camera market is likely to witness robust growth during the 2021-2027 periods.

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Action Camera Market: Regional Analysis

The action camera 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 share of revenues during the forecast period. The high-demand for extreme sports, mountaineering, and other adventures, and high penetration of action camera devices remain key drivers to growth. The Asia Pacific region is expected to witness fastest growth during the forecast period, as increasing demand for wild-photography, selfie adventures, and family trips remain key attractions to end-consumers.

Action Camera Market: Notable Developments

In 2018, Sionyx –a player in the infrared imaging technology announced a HD action video camera, with 'true' day, and night day imaging. The camera is designed to be just 8 ounces, and can fit in comfortably in one hand for adventure action. The company claims that it has used its patented technology for highest night vision optics, while bringing the price down to $799, from thousands of dollars from its other models. The new feature that lets this camera shoot high-quality videos in both daylight, and at twilight. Continuous advancements in new features to make action cameras an enticing prospect to consumers remains a key necessity for growth in action camera market.

In November, 2021, the NFL and MLB broadcast deployed the Sony HDC-F5500 action camera for capturing live footage. The camera uses shallow depth of field to bring more liveliness into cinematic picture quality. The end-result is more realistic football, and baseball game action. The growth of action cameras in major leagues like NFL is a promising sign for the commercial growth of the action camera market. The growth of action camera in sports event coverage is likely to make way for higher sales of accessories, which remain key to improving margins, as despite the popularity of companies like GoPro, manufacturers in the action camera market continue to look for new ways like user-generated content to make way for new growth. This remains a potential restraint to growth in the action camera market.    

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

South America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

Action Camera Market Segmentation

By Distribution Channel:

  • Brand outlets
  • Supermarkets/Hypermarkets
  • E-commerce
  • Specialty stores

 By Resolution Type:

  • Full HD
  • HD
  • Ultra HD
  • Others

By Product Type:

  • Box type
  • Cube type
  • Bullet type
  • Periscope and 360 degree

By End-User:

  • Personal
  • Professional

By Application:

  • Sports
  • Travel & Tourism
  • Recreational Activities
  • Entertainment & Media
  • Automotive
  • Emergency Services
  • Other Applications

Key Benefits of Global Action Camera Market Report

  • Global Non Action Camera market report covers in-depth historical and forecast analysis.
  • Global Action Camera market research report provides detail information about market introduction, market summary, global market revenue (revenue USD), market drivers, market restraints, market opportunities, competitive analysis, regional and country level.
  • Global Action Camera market report helps to identify opportunities in marketplace.
  • Global Action Camera market report covers extensive analysis of emerging trends and competitive landscape.

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