Action Camera Market Size is expected to reach at USD 7,631
TOKYO, Dec. 29, 2022 (GLOBE NEWSWIRE) — The Global Action Camera Market Size accounted for…
TOKYO, Dec. 29, 2022 (GLOBE NEWSWIRE) — The Global Action Camera Market Size accounted for USD 2,951 Million in 2021 and is estimated to achieve a market size of USD 7,631 Million by 2030 growing at a CAGR of 11.3% from 2022 to 2030.
Action Camera Market Statistics
- Global action camera market revenue was worth USD 2,951 million in 2021, with a 11.3% CAGR from 2022 to 2030
- North America action camera market share gathered more than 38.9% in 2021
- Asia-Pacific action camera market growth is expected to expand at a CAGR of 12.1% from 2022 to 2030
- By type of synthesis, the synthetic APIs category capture over 73.8% of total market share in 2021
- Growing demand for video content, propel the action camera market value
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Action Camera Market Report Coverage:
|Market||Action Camera Market|
|Action Camera Market Size 2021||USD 2,951 Million|
|Action Camera Market Forecast 2030||USD 7,631 Million|
|Action Camera Market CAGR During 2022 – 2030||11.3%|
|Action Camera Market Analysis Period||2018 – 2030|
|Action Camera Market Base Year||2021|
|Action Camera Market Forecast Data||2022 – 2030|
|Segments Covered||By Resolution, By Distribution Channel, By End User, By Application, And By Geography|
|Action Camera Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Sony Corporation, YI Technology, GoPro, Inc., Nikon Corporation, SZ DJI Technology Co., Ltd., TomTom, Garmin Ltd., Panasonic Corporation, Drift Innovation, SJCAM, and iON Worldwide.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Action Camera Market Trends
Rising consumer demand for high-quality cameras and lenses, more research & improvement in action cameras, as well as a rise in disposable income are all projected to drive market expansion. Moreover, the increasing number of action camera companies, the expanding distribution channel, the expanding number of sporting and adventure sporting events, and the expanding consumer technology industry all contribute to the growing demand for action cameras over the projection period.
North America led the global action camera market in the year 2021. The existence of action camera companies such as GoPro, Inc., Garmin Ltd., and Nikon Corporation, among many others, has contributed to the region’s potential growth. The presence of a wide customer base, combined with rising demand for high-quality action cameras, is propelling the regional market’s growth. Furthermore, research and improvement in Action cameras, rising urbanization, and the increasing popularity of adventurous and recreational activities in the United States and Canada are predicted to boost market size. This is predicted to bring up investment prospects for companies in the global industry over the next few years. Europe is predicted to have the second-largest share of the action camera market. The region’s growing number of privately owned brand shop brands is predicted to contribute to industry growth.
Rising Sales Of Box-Style Action Cameras Are Propelling The Market Growth
In terms of type, the box-style segment led the action camera market in 2021. Growing demand for high-quality video and photos, rising consumer buying power, increasing applications of such a camera in different sporting events such as bungee jumping and water sports, accessibility in different resolutions, and increasing development and innovation from producers in box-style action cameras are all expected to drive the segment during the projected timeframe.
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Action Camera Market Segmentation
The global action camera market has been segmented by Acumen Research and Consulting based on resolution, distribution channel, end user, and application.
- Based on the resolution, the market is divided into full HD, ultra HD, HD, and standard definition. According to the action camera market forecast, the full HD activities category is predicted to develop significantly in the next years.
- Based on the distribution channel, the market is split into online, and retail. In terms of distribution channels, the retail segment controlled the action camera market in 2021. The primary factors driving the expansion of this segment are increased consumer recognition of verifying features and goods before purchasing, increased spending on sales channels, increased preference for value-added services, and increased demand for the accessibility of accessories in specialty stores. This is likely to increase the retail segment’s dominance in the global market throughout the forecast period.
- Based on the end user, the market is classified into personal, and professional.
- Based on the application, the market is categorized into sports, emergency services, recreational activities, and others. The sports category is predicted to lead the worldwide action camera market in 2021, based on application. The growing numbers of adventurous activities, the rising lot of sports hobbyists such as hiking, bungee jumping, roller skating, and water sports, the growing demands from media, as well as the increasing need for more sophisticated lenses & features to capture high-quality photographs are the key drivers of the increase of this segment. This is likely to increase the sports segment’s dominance in the worldwide market throughout the forecast period.
Action Camera Market Regional Overview
Based on the region, the worldwide action camera market segmentation is into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to an action camera industry analysis, Asia-Pacific is predicted to have the greatest CAGR in the global market throughout the projection year. The region’s demand for action cameras is expected to be boosted during the forecast period by the growing electronics industry, rising spending on leisure and sports activities, changing consumer lifestyles, and an increase in the number of people using social media as well as rapid urbanization.
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Action Camera Market Players
Some of the prominent action camera market companies are Nikon Corporation, Sony Corporation, GoPro, Inc., SZ DJI Technology Co., Ltd., Garmin Ltd., Drift Innovation, SJCAM, Panasonic Corporation, YI Technology, TomTom, and iON Worldwide.
Some of the action camera market strategies are:
- In October 2019, GoPro, Inc. released new models of its Hero series as well as its latest 360-degree ruggedized action cameras. The high-barrier polyolefin film used in this innovative product greatly reduced the carbon footprint of the packaging. This big action camera captures at resolutions ranging from 1080p to 4K and includes HyperSmooth 2.0.
- In February 2018, Sony Corporation introduced the RX0 action camera. This new camera has a 1-inch Exmor RS CMOS sensor, a high-speed (1/32000) anti-distortion shutter, and a ZEISS Tessar T 24mm lens with an f4.0 aperture.
Questions Answered By This Report
- What was the market size of Action Camera Market in 2021?
- What will be the CAGR of Action Camera Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Action Camera Market?
- Which region held the largest share in Action Camera Market in 2021?
- What are the key market drivers of Action Camera Market?
- Who is the largest end user Action Camera Market?
- What will be the Action Camera Market value in 2030?
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