Market Excerpt

"Increasing income level and rising popularity of adventure and sports activities are driving the demand for action camera"

Action cameras are becoming popular across the world to take pictures and videos especially during sports and adventure activities such as surfing, rock climbing, skydiving, paragliding, bungee jumping, scuba diving, snorkeling, caving, surfing and others. Action camera are easy to handle, compact in size and enables users to take high quality photos and videos which is motivating consumers to purchase these cameras over traditional cameras. In addition, increasing income level and trend of sharing videos and photos of adventure activities on social networking sites like Facebook, Instagram and others also supporting the demand of action cameras globally. In addition, manufacturers are focusing to introduce innovative products with enhanced quality and cloud integration which will further boost the demand for action cameras globally. Some manufacturers are offering package solution with necessary accessories required for action cameras at cost effective price, in order to attract customers to select their brands. All these factors influencing the demand for action cameras globally. The global market for action cameras is expected to cross US$ 10.25 Bn by 2026 at a CAGR of 12.6% throughout the forecast period from 2016 to 2026. 

"North America is early adopter of action cameras and accounted for the largest revenue share globally"

In terms of unit shipments, U.S. is the largest market for action cameras in 2017. Large number of sports and adventure enthusiast people along with considerable income level and spending capacity on these activities are major reasons for the dominance of U.S. in the global action camera market. The market for action cameras in the U.S. expected to witness significant growth with increasing spending on outdoor recreation activities by citizens. According to recent research study published by U.S. Bureau of Economic Analysis (BEA), U.S. citizens are increasingly spending on outdoor recreation activities in order to maintain work-life balance. The recent report by BEA on outdoor activities observed that spending on outdoor recreation activities was valued at US$ 412 Billion and accounted for the 2.2% of the total GDP.

Asia Pacific is expected to witness the fastest growth in the action camera market with increasing disposable income and rising spending on sports, adventure and leisure activities particularly in China, Japan, India, Australia and Southeast Asia.

"Rising number of sports events are increasing the demand for professional action cameras"

Professional cameras accounted for the largest revenue share in the global action camera market and expected to witness considerable demand in the future with increasing number of local as well as international sports events across the world. However, individual action camera segment expected to witness the fastest growth with increasing number of enthusiast people investing in sports and adventure activities and trend towards publishing photos and videos of recreational activities on social networking sites.

"Action Camera manufacturers continuously looking forward to increase their footprints in the global market with acquisitions and partnerships"

Manufacturers from North America and Europe have developed strong brand image in the global action camera market. Established players are continuously looking forward to increase their footprints in the global market with through partnerships, mergers and acquisitions, introducing innovative solutions and by increasing investment in R&D. Chinese action cameras which are available at cheaper price are becoming popular choice in personal use en-use segment as customers from this category are not willing to spend lot on action cameras. Some major action camera manufacturers in the global market include GoPro Inc, Sony Corp, Garmin Ltd, Olympus Corp, TomTom N.V., Rollei GmbH & Co. KG, Veho, Drift and others. Established players are looking forward to integrate cloud storage services in their product offerings in order to attract customers by providing cloud storage and file sharing services.

"Why it is recommended to invest in our action camera market research study?"

The research study on action cameras market includes comprehensive analysis of trends and dynamics in the global industry. The report also provides exhaustive analysis of different types of action cameras based on technology and end-users. The report also highlights primary driving and limiting factors affecting the growth of global action camera market. The report on action cameras also includes qualitative as well as quantitative analysis of segments covered in the scope of the study. The report also identifies key investment segments in the global action camera market. The report also provides high level analysis on the global action camera market including major players’ market positioning, attractive investment preposition and value chain analysis. The report also profiles major players in the global market including their financial overview, product offerings, major competitors, recent developments and regional presence.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Action Cameras market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Action Cameras market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Action Cameras market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Action Cameras market?
• Which is the largest regional market for Action Cameras market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Action Cameras market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Action Cameras market worldwide?