Action Camera Market

Action Camera Market Size

Action Camera Market size was USD 4.17 billion in 2021 and projected to grow from USD 5.7 billion in 2023 to USD 22.7 billion by 2032, exhibiting a CAGR of 16.7% during the forecast period.

Action cameras aka action cams are digital cameras mainly designed for capturing action while being immersed. These type of cameras are usually rugged, compact, and waterproof at any given surface level. They normally employ CMOS image sensors that proficiently record high-definition video besides clicking images in burst and time-lapse modes. One of their common features is slow-motion video recording at 240 or 120 fps.

Market Highlights

Action Camera Market is expected to project a CAGR of 16.7% during the forecast period, 2022-2032

Action Camera Market is expected to reach USD 22.7 billion, growing at a CAGR of 16.7% during the forecast period owing to growing viewers of video content, expanded use of smartphones, availability of low-cost data, and growing internet penetration. Also, the rising participation of youngsters in creating video content to gain fame on various social media platforms like Facebook, Instagram, Tik-Tok, and YouTube are expected to boost the growth of Action Camera Market over the forecast period.

Action Camera Market Segmentation:

Ultra HD segment is expected to dominate in the forecast period

Action Camera Market is classified based on the Resolution into Ultra HD, Full HD, HD, and Standard Resolution. The High Definition (HD) segment held a major market share and is estimated to continue dominance in future as well. The HD action cameras are compact and portable cameras offering wide-angle lenses. They enable users to capture images and movies of the desired quality. The Ultra HD category is anticipated to develop the fastest. The increase in professional demand is a major contributor to the segment's growth. Also, owing to the sophisticated functions included in the top-tier action cameras, the adoption of actionable cameras is expanding commercially.

Sports segment is expected to dominate in the forecast period

Action Camera Market is classified based on the Application into Sports, Recreational Activities, Emergency Services, and Others. The Sports segment registered a major market share in 2022 and will lead in the coming years as well. The expanding global demand for action cameras is being driven by the increasing popularity of sports like riding, skiing, skydiving, racing, climbing, surfing, skateboarding, and more, and the habit of videography. In addition, a growing number of sports leagues like Cricket and Football, are anticipated to drive the product demand in the sports market.

Market Dynamics:                                                    

Growth Drivers

Rising Popularity of Action Cameras in Growing Number of Uses are Expected to Boost the Market Growth

The main factors boosting the Action Camera Market are the rise in holidays, sporting events, music festivals, and seasonal cycles. The global Action Camera Market is also rising as action cameras become more and more common in both professional and outdoor activities. Contrarily, technological developments in consumer electronics domain like the inclusion of Al and VR methods in cameras, are significantly boosting the market growth.

Increasing Number of Sports Enthusiasts and Attractive Features of Action Cameras are Expected to Boost the Market Growth

Significant increase in the number of adventurers and sports fans throughout the world is having an effect on the rise of the global Action Camera Market. The criteria for photography are accurately met by actions cameras since they are light, portable, and available in a unique designs and sizes and designs that often work in any setting. Moreover, the camera's 4k resolution and superb image quality allow the capturing of crystal-clear videos. Ruggedness and a long battery life are two more key attributes that help the market grow.

Restraint

Increasing Use of Smartphones (Substitute) and Growing R&D in Mobiles for Better Quality Cameras to Restrain the Market Growth

The market growth is expected to be constrained by the development of smartphones having high-quality cameras, their longer life cycles, and expensive prices of action cameras. There are several smartphones with high-quality cameras on the market. It is envisaged that ongoing R&D would lead to the creation of cellphones with significantly higher quality. Also, mobile phones are more budget-friendly than action cameras.

Recent Developments:

• Insta360 debuted its "ONE RS" anti-shake multi-lens sporting camera in 2022, March. The company claims that by changing lenses, the device can accommodate different shooting requirements. The second flexible action camera from the firm, the ONE RS, has a new 4K wide-angle boosting lens, an upgraded processor, and a bigger battery.
• The Osmo Action 3 was introduced in September 2022 by DJI, a Chinese manufacturer of drones and action cameras. This product, which was introduced to compete with GoPro's offerings, is a throwback to the first DJI Action camera. Two touch-sensitive screens on DJI's most recent action camera can be operated with wet hands. Voice control is also available on the gadget.

Action Camera Market

Key Players Covered:

• Panasonic Corporation
• Sony Corporation
• Garmin Ltd.
• Nikon Corporation
• SZ DJI Technology Co. Ltd.
• TomTom
• Eastman Kodak Company
• GoPro Inc.
• YI Technology
• Insta360
• Rollei GmbH & Co. KG
• Akaso
• Smartprix
• SJCAM
• Drift Innovation
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Action Camera Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America owned a majority of the market share in the past years. This is due to the earlier adoption of newer technology. In addition, there are now a lot more content creators who specialize in creating action and adventure-related content. As per forecast, Europe will account for the second-largest share for Action Cameras Market. The region's increasing number of independently owned brand shop brands would help in the growth of the sector in the coming years.

Impact of Covid-19 on Action Camera Market

Action camera sales were significantly disturbed by the COVID-19 pandemic. Due to stringent lockdowns enforced in some countries and the cessation of travel and adventure sports, the demand and use of action cameras was low in all regions at the beginning of 2020. To stop the spread of the disease, businesses temporarily stopped producing cameras and accessories. Action camera firms worldwide were negatively impacted by the implementation of strict lockdowns and the temporary suspension of leisure and sporting activities like rafting, mountaineering, skiing, boating, and underwater sports.

Action Camera Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Action Camera Market Scope and Segments:

Frequently Asked Questions (FAQ):