The global action camera market is expected to grow at a CAGR of 11.3% from 2019 to 2026 and expected to reach the market value of around US$ 10.5 Bn by 2026.
Action camera is special camera which is used to take or capture adventures, sports, and other activities featuring high speed actions. Action camera is designed is such a way that it can be mounted on car dashboards, helmets, cycles, or can be worn on body for capturing amazing photos and video. The action camera can be differentiated into various types including box style, cube style, bullet style, and periscope and 360 degree.
The growth of the action camera market is primarily driven by the rising popularity of adventure sports and growth in consumer electronics industry, increase in urban population which increases adoption of action cameras, growing number of action camera manufacturers and increase in popularity of action camera across the globe. Furthermore, rising user base of social media sites such as Instagram, Facebook, and twitter and sharing video and photos to friends and followers, increase in number of vendors in the market, and rising spending capacity of individuals on action camera is estimated to boost the market growth. Moreover, changing lifestyles of consumers across developed countries, growing consumer electronics industry, technological advancement in camera, and emergence of new product development in action camera are expected to create opportunities for the manufacturers in the global market over the forecast period. However, increase in demand for smart phones along with high end cameras and high costs of the products are expected to hamper the growth of the global action camera market in the coming years.
By technology, Ultra HD segment dominated the action camera market
Based on technology, the market has been segmented into ultra HD, full HD, HD, and SD. The ultra HD segment accounts of the largest share in the market and are expected to grow at a CAGR of around 15.8% during the forecast period.
Ultra HD offers high video resolution and has wide angle lens for capturing the view. The major factors that are driving the growth of this segment are increase in demand for detailed picture and increase in consumer preference towards shotting 1080p or 720p.
The manufacturers Sony Corporation, GoPro, Inc., Panasonic Corporation, and TomTom are the mainly investing in the development of ultra HD action camera, which expected the lead the market in the coming years.
Based on distribution channel, the retail segment is expected to dominate during the forecast period
Based on distribution channel, the market has been segmented into online and retail. The retail segment accounts of the largest share in the market and held for more than 52% of the total market in 2018. The major factors that are driving the growth of this segment are increase in consumer preference towards checking quality of the product in person and increase in concerns regarding aftermarket service. This expected to enhance the dominance of the retail segment in the global market over the forecast period.
The market research study on “Action Camera Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global action camera market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global action camera market, its type, technology, distribution channel, end user, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global action camera market size and volume, and segment markets by type, technology, distribution channel, end user, application, and geography along with the information on companies operating in the market. The action camera market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, North America dominated the regional market with a maximum market share
North America accounted for the high market share of the action camera market and the region is also expected to maintain its dominance over the forecast period. The rapid consumption of action camera in terms of volume, rising popularity of adventure sports such as scuba diving, sky diving, and bungee jumping, and rising disposable income are the major driving factor for the region in the global market. Moreover, the increasing demand for action cameras over digital cameras and increase in demand for professional cameras with extensive storage facility are expected to enhance the market growth in the global action camera market in future. Europe is expected to account for second largest in the global market during the forecast period. Growing availability of technically advanced and latest product varieties, growing disposable income of individuals, and rising sports enthusitics population are expected to enhance the regional market growth in the global action camera market during the forecast.
Asia Pacific is expected to hold the highest CAGR in the global market during the forecast period. The manufacturers are investing in developing countries to meet the demand for action camera. Moreover, changing lifestyle of consumers, increase in expenditure on adventure and sports activities, rising popularity of social media, and growing GDP, and strong economic growth in countries, such as China, Korea, Thailand, Japan, and India, are expected to enhance the market growth in the global action camera market during the forecast.
The players profiled in the report include Sony Corporation, GoPro, Inc., YI Technology, SZ DJI Technology Co., Ltd., and Nikon Corporation, Garmin Ltd., SJCAM, Drift Innovation, Panasonic Corporation, TomTom, and iON Worldwide. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.
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