The Global Action Camera Market was valued at USD 2.2 Billion in 2020 and is expected to reach USD 4.1 Billion by 2027, with a growing CAGR of 8.7% during the forecast period.
The action camera is a digital camera that is used to record action sequences while been completely immersed in it at the same time. The action camera can be mounted on caps, bikes, vehicles, surfboards, and unique objects to capture photographs of top quality with a wide-angle. It is usually used to capture sports activities, adventures, or varieties of activities. The small size and incredible 'perspective' component of action cameras have made them incredibly mainstream among easygoing customers and sports lovers who want to capture their adventures and share them through the social media platform.
The increasing use of social media platforms such as Facebook, Instagram, Twitter, Whatsapp has positively impacted the action camera market growth. In these platforms, sharing live videos and pictures are the key trend among the population especially among developing countries such as India, China. For instance, according to Facebook, it had 1,562 million active users daily, as of the first quarter of 2019. Moreover, Twitter stated that 500 million Tweets are reportedly sent each day and 9% more people are using Twitter every day, reinstating the growing penetration of social media networks at a global level.
In addition, increasing disposable income coupled with rising adventurous activities such as surfing, skydiving, caving, and snorkelling is the essential factor for the increase in demand for action cameras by both professional and personal users to capture memories and experiencing these exciting recreational activities. Moreover, the travel & tourism sector plays an important role in the growth of the action camera market. For instance, according to the World Tourism Organization (UNWTO), in 2019, there were about 1.5 billion international tourist arrivals across the globe. Tourists prefer to carry compact action cameras that ensure hassle-free travel. The U.S. is anticipated to host more than 95.5 million international visitors annually by 2023. The expanding tourism industry will surge the demand for robust action cameras as travellers are enthusiastic about recording HD videos and high-quality pictures during the time of traveling, proliferating the action camera market.
By Distribution Channel
By End User
Based on the resolution, the ultra HD segment in action camera market is expected to grow at the highest CAGR during the forecast period due to the advantages such as high flexibility in standard definition and high definition
Based on the resolution, the action camera market has been segmented into ultra HD, full HD, HD, and standard resolution. The Ultra HD segment in the action camera market is projected to grow at the highest CAGR during the forecast period owing to the advantages to the user such as high flexibility in standard definition and high definition. Moreover, commercial availability for advanced devices with UHD features is significantly driving the demand of the action camera market. Furthermore, consumer preference for shooting in 4K/UHD over 1080p or 720p contributing the segment growth in the action camera market.
Based on distribution channel, the retail segment holds the largest market share in the action camera market in 2020 due to consumer behaviour such as more preference of consumers towards checking the device and its features in person
Based on distribution channel, the global action camera market has been segmented into online and retail. The retail segment in the action camera market holds the largest market share and is projected to register its dominance during the forecast period. The growth in the segment is attributed to consumer behaviour such as more preference of consumers towards checking the device and its features in person. However, the online channels is expected to be the fastest-growing segment in action camera market during the forecast period due to the rising penetration of the e-commerce industry and the increasing popularity of online purchases among the population.
Based on the application, the sports segment accounted for the largest market share in the global action camera market in 2020, followed by the recreational activities owing to the increase in the number of adventure sports and high exposure from media
Based on application, the action camera market is segmented into sports, recreational activities, emergency services, and others. The sports segment is accounted for the major market share in the action camera market. The growth in the segment is attributed to a rise in the number of adventure sports and high exposure from media. The sports industry is booming with major investments currently taking place from renowned athletes and other celebrities. The growing number of investments in the sports industry offers lucrative opportunities for the growth of the action camera market. For instance, in July 2021 Bruin Capital acquired Oddschecker, a sports betting affiliate for USD 27.7 million from Irish playing massive Flutter Entertainment. This deal additionally included Vime, CasinoSmash, and WhoScored brands. Oddschecker has around 120 clients throughout the U.S., the U.K., Spain, and Italy.
Based on region, North America accounted for the largest market share in the action camera market in 2020, followed by the Asia Pacific and Europe owing to the increase in the popularity of adventure activities such as bungee jumping, skydiving, and paragliding
North America accounted for the largest market share in the action camera market due to rising disposable income in the region and the growing popularity of adventure activities like bungee jumping, skydiving, and paragliding within the region. Media inclusion for adventurous sports is a roaring industry inside the U.S. as the regional market is witnessing a rise in demand for professional cameras with extensive storage facilities. Moreover, high expenditure in R&D activities for the development of innovative products is also contributing the regional growth in the action camera market. For instance, in January 2021, GoPro launched the advanced features for the GoPro camera such as camera motion triggers, USB power triggers, motion detection enhancements and others. This product launch will create brand awareness in the region.
The report also provides an in-depth analysis of action camera market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Action Camera Market Analysis:
The COVID-19 pandemic has negatively impacted the action camera market due to the imposition of lockdown measures in several countries across the globe. Travel restrictions and therefore the temporary closure of industries & manufacturing facilities to make sure social distancing and stop transmission have hampered the action camera market growth in 2020. However, with the gradual reopening of factories & industries and therefore the relaxation on travel restrictions, the action camera market will gain traction in the coming years.
*Note: A detailed analysis specific to action camera market will be provided in the report.
The report also provides an in-depth analysis of key trends in the action camera market:
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Market Overview & Competitive Landscape
Market Segmentation (Market Size and Share Analysis)
COVID – 19 Opportunity Mapping
Regional Market Analysis