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Action Camera Market Trends

ID: MRFR//3163-CR | 113 Pages | Author: Ankit Gupta| February 2020

Global Action Camera Market Overview:

Action Camera Market Size was valued at USD 3.5 billion in 2023. The Action Camera market industry is projected to grow from USD 4.1 billion in 2024 to USD 13.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.20% during the forecast period (2024-2032). Extreme sporting events, holidays, seasonal cycles, and music festivals are the primary drivers fueling the global demand for action cameras. Furthermore, the growing popularity of action cameras in professional activities as well as outdoor adventures is boosting the market for action cameras. On the other hand, technological advancements in the consumer electronics industry, such as the incorporation of AI and VR techniques in cameras, are considerably contributing to the expansion.

Action Camera Market Overview

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Covid-19 Analysis

The COVID-19 epidemic has hampered the growth of the Action Camera Market. Due to stringent lockdowns enforced in many nations and the cessation of tourism and adventure sports activities, adoption of action cams was limited in all regions. To prevent the spread of the virus, companies temporarily ceased production of cameras and equipment. Furthermore, COVID-19 reduced demand for and sales of basic and advanced consumer electronics items, including action cameras. The enforcement of stringent lockdowns and the temporary cessation of recreational and athletic activities such as mountaineering, rafting, boating, skiing, and underwater sports had a negative impact on action camera enterprises worldwide.

Action Camera Market Trends

  • Increasing number of extreme sports events, holidays, and music festivals

The increasing number of extreme sports events, holidays, and music festivals is one of the primary factors driving the growth of the action camera industry. Because of its fixed point-and-shoot model, an action camera is more approachable than a DSLR (digital single-lens reflex camera). They may be used to shoot high-quality films and photographs everywhere from the dashboard to the ocean. Action cameras are typically used to capture the excitement and adventure of sporting events, holiday musical events, and a variety of other activities such as surfing, skiing, climbing, skydiving, bicycle racing, bicycling, and other sports. There will be a large demand for action cameras as extreme sports events, vacations, and music festivals expand. According to the news, on November 20th, 2021, when the Thanksgiving travel period begins, more than 2.2 million travelers will be inspected at airport security checkpoints across the United States. This year's Thanksgiving holiday will see 53.4 million people travel, a 13% increase over last year's. As a result, a surge in extreme sports events, holidays, and music festivals is likely to support the growth of the action camera market.

Action Camera Market Segment Insights:

Action Camera Type Insights

The Action Camera market segmentation, based on Type, includes Box Style, Cube Style, Bullet Style and Periscope & 360 degree. Box-style action cameras are made of plastic or cardboard and have a lens on one end and film on the other. These action cameras are available in full HD, HD, ultra-HD, and various resolutions, and are distributed through channels such as brand outlets, supermarkets/hypermarkets, e-commerce, and specialized stores. Sports, travel and tourism, recreational activities, entertainment and media, automobile, emergency services, and other sectors all make use of action cameras.

September 2020: YI Technology launched two new advanced artificial intelligence home security solutions, i.e., Kami Mini Indoor Camera and YI Dome Camera U Debut. It pioneered the development of a series of AI-enabled camera processing integrated circuits (ICs), which power Kami Mini and YI Dome Camera U. It gives complete coverage with 360° tracking. 

October 2020: Insta360 revealed the launch date of its next action camera, which is October 28, 2020. 

October 2019: GoPro announced the arrival of a new 360-degree camera, i.e., GoPro Max. It is a waterproof twin-lens camera, which is one that should be far better and simpler to use. 

Action Camera Resolution Insights

The market is divided into HD, Ultra HD, Full HD, and Standard Resolution groups based on resolution. The Full HD segment is expected to have the most market share. This can be ascribed to an increase in the production of video material. There has been a huge surge in the number of influencers who have begun making daily vlogs and videos. Furthermore, users want to watch high-quality videos.During the projected period, the Ultra HD (UHD) Action Camera category is expected to rise rapidly. This segment's market expansion is being driven by enhanced features combined with high-quality resolution for video recording and image capture.

FIGURE 2: Action Camera Market SHARE BY RESOLUTION 2021 (%)

Action Camera Market SHARE BY RESOLUTION 2021Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Action Camera Deployment Insights

The Action Camera market is divided into Online and Brick & Mortar Stores based on Distribution Channel. Consumers prefer to see the equipment and its features in person, therefore brick-and-mortar stores have the highest share of the action camera industry. High consumerism is prevalent in consumer trends. The growing demand for channel partners to streamline sales strategy has a significant impact on the business. Furthermore, the Brick & Mortar Stores industry has a high customer retention rate due to the availability of aftermarket service at a low cost. Brick & Mortar Stores channels may also sell both accessories and cameras, or they may specialize on one or the other.

Action Camera End-User Insights

The market is divided into two areas based on end-use: personal and professional. Both segments are expected to experience significant growth. This is due to the increasing popularity of social media. Many amateurs and professionals have begun uploading and posting films of their exploits and life experiences, driving the growth of the segments.

Action Camera Application Insights

Based on Application, the AI market is segmented into Sports, Recreational Activities, Emergency Services, and Others. The sports section accounted for a larger market share, which can be attributed to a rise in the number of adventurous sports and increased media exposure. The growing popularity of sports such as surfing, skiing, skating, climbing, skydiving, riding, bicycle racing, and others is driving up market demand. Furthermore, the adoption of digital technology with better lenses and resolution contributes substantially to the capture of high-quality photographs and movies in action. Furthermore, the expanding number of sports leagues and activities around the world is fueling category expansion.

Action Camera Regional Insights

Geographically, North America is expected to have a significant share of the Action Camera Market during the projected period, owing to rising involvement in extreme sports events, rising adventure and sports activities, and rising demand for technologically advanced products. Individual involvement in extreme sports events is increasing, which is driving market expansion. Tennis participation in the United States climbed by 22% in 2020, with 21.64 million individuals hitting the courts, according to data from the Physical Activity Council's Participation report, created by Sports Marketing Surveys, according to news published on February 21st, 2021. Surveys and surveys measure the participation of Americans in over 120 different sports and activities. Therefore, increasing participation of individuals in extreme sports events has driven the market in the North American region.

Due to the launching of new products, increasing popularity of recreational and adventurous activities like as sky diving, bungee jumping, and scuba diving among the youth, and expanding disposable income, the Asia Pacific region is the fastest-growing region in the Action Camera Market. According to the news, Motorola One Action released a 117-degree wide action camera on August 24th, 2019, and the device is primarily focused on video recording using the wide-angle lens. As a result, several advancements in various action cameras drive the growth of the Asia Pacific action camera market.

FIGURE 3: Action Camera Market SHARE BY REGION 2021 (%)

Action Camera Market SHARE BY REGION 2021

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Action Camera Key Market Players & Competitive Insights

The worldwide market is distinguished by the presence of a high number of market participants. The major strategy adopted in recent years by the market's prominent players has been the launch of new products. However, in order to capitalize on the market opportunities, various competitors have begun providing cloud storage services for action cameras. For example, in October 2019, GoPro released the HERO8 Black, which is incredibly adaptable and combines capabilities from previous generations. Video stabilization, increased resolution, and HyperSmooth 2.0 in all frame rates are among the key features of the HERO8 Black. Other features, such as 'Boost mode' and in-app 'horizon levelling,' have increased the product's appeal.

GoPro, Inc., Sony Corporation, Nikon Corporation, Garmin Ltd., SJCAM, YI Technology, SZ DJI Technology Co., Ltd., and Drift Innovation are among the market's leading players. These companies are effectively offering new low-cost items for their clients to compete in the competitive action camera market. Furthermore, these businesses are selling action cameras in the global market through online and retail sales channels.

March 2022: Insta360 launched its multi-lens anti-shake sporting camera, the "ONE RS". According to the business, by swapping lenses, the device may meet a variety of shooting needs. The ONE RS, the company's second versatile action camera, includes a brand-new 4K wide-angle enhancing lens, an updated processor, and increased battery capacity.

Key Companies in the Action Camera market include

  • GoPro

  • DJI

  • Nikon

  • Sony

  • Panasonic

  • Olympus Corporation

  • Garmin Ltd

  • Akaso

  • Insta360


Action Camera Industry Developments

June 2023: Recently, Insta360 released its latest Go 3 action camera. The gadget claims to be the tiniest action camera ever made. In the US, prices start at $449.99. The 35-gram camera has gimbal-like stabilization and 360-degrees horizon leveling capabilities. The Insta360 Go 3 can record movies at a quality of up to 2.7K and operate for up to about 45 minutes that too on just a single charge. The camera and Action Pod may be connected so that users can obtain up to about 170 minutes recording time each charge. The removable multi-function action pod may be used with the camera to offer additional capabilities like remote control & live preview.

November 2022: Small Action Camera for the FPV Drones having 4K60 & Gyroflow Support, Caddx Walnut, Has Been Announced. A new, affordable, waterproof action camera designed for FPV pilots is called Caddx Walnut. It is 62.8g in weight, has a built-in battery, and has Gyroflow stabilization software. It can record at up to 4K 4:3 30fps, 4K 60fps, or 2.7K 4:3 60fps.The Chinese business CaddxFPV, which initially worked in the security surveillance industry, has been designing and producing camera systems for FPV drones since 2017 including FPV goggles, analogue & digital air units, and action cameras.

September 2022: Recently the Osmo Action 3 action camera, a brand-new creation from Chinese drone & action camera firm DJI, was released. This product, which was introduced to take on GoPro's products, is a throwback of the first DJI Action camera. The brand concentrated on the magnetic form factor for the Osmo Action cameras' second edition. However, the most recent introduction had a look similar to Osmo Action's 2019 iteration. The newest action camera from DJI has two touch-sensitive displays that can be used with wet hands as well. Voice control is also supported by the gadget. Osmo Action 3 has physical buttons to assist users choose between the numerous modes, which makes things even more practical. The shutter release button on the camera also serves as a record button both for still images and moving pictures.

Action Camera Market Segmentation:

Action Camera Type Outlook

  • Box Style

  • Cube Style

  • Bullet Style

  • Periscope & 360 degree

Action Camera Resolution Outlook

  • Full HD

  • Ultra HD

  • HD

  • SD

Action Camera Distribution Channel Outlook

  • Online

  • Brick & Mortar Stores

Action Camera End-User Outlook

  • Professional

  • Personal

Action Camera Application Outlook

  • Sports

  • Recreational Activities

  • Emergency Services

  • Others

Action Camera Regional Outlook

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • UK

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Rest of Asia-Pacific

  • Middle East & Africa

  • South America

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