India – March 16, 2022 —
Action Camera Market Research Report- Forecast till 2030
The global action camera market is poised to create a value of USD 23.33 billion by 2030, growing at 14.4% CAGR throughout the assessment period (2020-2030). In 2019, the market valuation had reached USD 4,237.9 million, due to the camera segment of consumer electronics increasing with evolution in terms of product size, quality, and efficiency. Due to the increasing usages of social media platforms such as Instagram, WhatsApp, and Facebook, the trend of sharing live videos and pictures is increasing.
The lack of investments is set to affect the global market during the forecast period 2020 to 2030. The report also provides the market’s performance forecasts till 2023. Analysts have studied the strategy of cameras segment based organizations to help new entrants and established businesses. The cameras sector itself is supported by the changing social behaviour as well as the increasing demand from various industry verticals. During the forecast period 2020 to 2030, the action camera market is set to witness a health growth across distribution channel, end-user, technology, and type segments as well as regional markets.
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The cameras sector has seen growth across distribution channel, end-user, technology, and type segments owing to favorable policies across regional markets and the growing application areas. To study the market, analysts have further segmented distribution channel, end-user, technology, and type into box style, bullet-style, cube-style, periscope & 360°, and others on the basis of type. The market is further segmented into technology sub segment which is split into full HD, HD, SD, Ultra HD, and others. Additionally, the action camera market on the basis of distribution channel is segmented into online and brick & mortar stores. The market is further segmented into end-user sub segment which is split into professional and personal.
The segmental analysis presented in the report provides cameras field based organizations insights into key growth factors such as the increasing spending power of consumers as well as challenges such as the lack of skilled human resource the market will face from 2020 to 2030. The availability of many untapped opportunities and the increasing preference of consumers are some of the key factors having an influence on cameras industry based companies, suggest analysts as per the action camera market report. But the report also identifies the lack of skilled human resource and the lack of investments in R&D as major threats companies in cameras will face till 2030.
North America leads the global action camera market. The largest market share attributes to the presence of notable industry players and well-established Powersports & extreme sports industry in the region. Besides, high industry standards and substantial investments by makers to design technologically advanced action cameras drive the growth of the regional market. The North American action camera market is expected to retain its dominance, registering 11.16% CAGR throughout the assessment period.
The Asia Pacific region stands second in the global action camera market, growing rapidly. The greater adoption of action cameras drives the market, and increasing Powersports in the region boost the growth of the market. Besides, the rapidly growing extreme sports in the region act as a key tailwind for the development of the market. Japan, South Korea, China, and India are key growth contributors to the regional market. The APAC action camera market is forecasted to create a substantial revenue pocket, growing at 17.39% CAGR throughout the estimated period.
The Europe action camera market is emerging as a promising space. Factors such as the vast contributions from well-defined markets such as the UK and Germany drive the market growth. Moreover, increasingly stringent industry standards impact market growth positively. Additionally, rising technology upgrades and increasing productivity, maintaining the quality and reducing the time required, foster the regional market growth. The European action camera market is expected to witness remarkable developments, posting 15.13% CAGR throughout the assessment period.
Global Action Camera Market – Competitive Landscape
Highly competitive, the global action camera market appears fragmented due to the presence of several well-established players. To gain a larger competitive advantage, players incorporate strategic initiatives such as mergers & acquisitions, expansion, collaboration, and product/ technology launch.
These players invest substantially to transform the consumer and business landscape. Also, industry players make substantial R&D investments in developing the product and technology. To widen their reach t customers, they offer discount offers, such as the end of season sale offerings.
Players leading the action camera market include Garmin Ltd. (US), Sony Corporation (Japan), GoPro, Inc. (the US), SZ DJI Technology Co., Ltd (China), Olympus Corporation (Japan), Veho World (UK), TomTom NV (Netherlands), SJCAM Limited (China), PLR Ecommerce, LLC (US), Nikon Corporation (Japan), Panasonic Corporation (Japan), and YI Technology (China), among others.
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Action Camera Market Research Report: By Type (Box Style, Cube-Style, Bullet Style and Periscope and 360°), By Technology (Full HD, Ultra HD, HD and SD), By Distribution Channel (Online and Brick & Mortar Stores), By End-User (Professional and Personal) – Forecast till 2030
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