Action Camera Market size is set to grow by USD 3.65 billion from 2024-2028, Growing popularity of social networking sites boost the market, Technavio

NEW YORK, July 18, 2024 /PRNewswire/ -- The global action camera market size is estimated to grow by USD 3.65 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 15.11%  during the forecast period. Growing popularity of social networking sites is driving market growth, with a trend towards rapid shift in demand from developed nations to developing nations. However, rising popularity of smartphones  poses a challenge. Key market players include C and A Marketing Inc., CASIO Computer Co. Ltd., Chilli Tech Europe Ltd., Drift Innovation Ltd., Eastman Kodak Co., Garmin Ltd., GoPro Inc., HTC Corp., iON America LLC, Nikon Corp., Olympus Corp., Panasonic Holdings Corp., Ricoh Co. Ltd., Rollei GmbH and Co. KG., Shenzhen Amkovery Tech. Development Co. Ltd., SJCAM Ltd., Sony Group Corp., Toshiba Corp., Veho, and Xiaomi Communications Co. Ltd..

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Market Driver

The global action camera market is experiencing a significant transition from developed to developing nations. This shift is primarily due to the escalating popularity of adventure tourism and improving sports facilities in emerging economies. The reach of action cameras remains limited in countries like India and China, creating a vast business opportunity for vendors. Key driving factors for sales in developing nations include rising urbanization, increasing disposable income, growing usage of social media, and a burgeoning interest in photography. These trends are expected to boost the demand for action cameras during the forecast period. 

The action camera market is experiencing significant growth, driven by primary drivers like voice control technology and extreme sporting events. Global demand is high for these compact devices, particularly during seasonal cycles such as holidays and festivals. Consumers, both amateurs and professionals, are using action cameras to capture life experiences in Full HD, HD, Ultra HD, and standard resolution. Sports like mountaineering, rafting, boating, skiing, underwater sports, and even bicycle racing are popular use cases. Brands like YI Technology lead the market with innovative features like AI technologies and VR techniques. Accessories like dashboard mounts and underwater housings expand the market's reach. Despite lockdowns, the market continues to thrive, with trends like Periscope and 360-degree cameras gaining traction. Action cameras offer a unique way to exploit life's adventures and create high-quality films and photographs. 

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Market Challenges

• The sales of smartphones have significantly increased since their introduction to the mass market in 2009. This growth can be attributed to the declining average selling price (ASP) and advancements in communication network infrastructure. High-end smartphones, such as the iPhone 11 Pro, Google Pixel 4, and Samsung Galaxy Note 10 Plus, offer superior cameras capable of shooting high-quality videos. As a result, smartphones have become an essential device for many consumers. Global electronics manufacturers are focusing on developing affordable smartphones with advanced features, including high-end cameras, to cater to the growing middle-class population, particularly in developing countries like China and India. This trend is expected to hinder the growth of the global action camera market during the forecast period.
• The Action Camera Market is experiencing significant growth due to increasing demand from Recreational Activities, Emergency Services, and Adventurous sports. Digital technology advances, such as updated processors and 4K resolution, are driving market traction. Market participants are focusing on meeting Shooting needs with features like wide-angle lenses, horizon leveling, and video stabilization. Sky diving, bungee jumping, scuba diving, and extreme sports events are popular use cases. Youth population and Social media platforms are key drivers, with IoT integration enabling cloud storage services and real-time sharing. Technologically advanced devices with bigger sensors, 10-bit color depth, and enhanced video stabilization are emerging trends. GoPro offers touch-sensitive screens and Boost mode for improved user experience. Battery capacity is a challenge, as is meeting the needs of Adventure Enthusiasts in various shooting conditions.

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Segment Overview 

This action camera market report extensively covers market segmentation by  

1. Technology 
• 1.1 Ultra HD
• 1.2 HD
2. End-user 
• 2.1 Commercial
• 2.2 Residential
3. Distribution Channel
• 3.1 Online
• 3.2 Offline
4. Geography 
• 4.1 North America
• 4.2 Europe
• 4.3 APAC
• 4.4 South America
• 4.5 Middle East and Africa

1.1 Ultra HD-  The action camera market has experienced significant growth in recent years due to increasing consumer interest in capturing and sharing adventures. These compact, portable devices offer high-definition video and photo capabilities, making them ideal for extreme sports and travel. Major players in the market include GoPro and Sony, who continuously innovate to meet consumer demands. Competition is fierce, leading to affordable pricing and advanced features. This market trend is expected to continue as technology advances and consumers seek new ways to document their experiences.

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The global body-worn camera market is experiencing robust growth driven by increasing adoption in law enforcement and security sectors. These cameras enhance transparency, accountability, and safety in operations, fueling demand worldwide.

Military adoption of body-worn cameras is rising, driven by their role in enhancing situational awareness and operational effectiveness. These ruggedized cameras offer real-time data capture and analysis capabilities, supporting modern warfare requirements.

The automotive dashboard camera market is expanding due to growing vehicle safety concerns and insurance mandates. These cameras provide crucial evidence in accidents and deter theft, driving their integration into modern vehicles globally.

Research Analysis

The Action Camera Market is experiencing significant growth, driven by the adventurous spirit of the youth population and the desire to capture and share their experiences on social media platforms. Technologically advanced devices with 4K resolution and IoT capabilities are primary drivers of this market traction. Emerging trends include AI and VR techniques, providing immersive experiences for users. Adventure enthusiasts are increasingly using action cameras for extreme sports events such as mountaineering, rafting, boating, skiing, underwater sports, surfing, climbing, skydiving, bicycle racing, and bicycling. Holidays and seasonal cycles also contribute to market demand. Box Style and Cube Style cameras offer versatility and compactness, making them popular choices for consumers. Global demand for action cameras continues to rise, fueled by the growing popularity of these devices in various industries and applications.

Market Research Overview

The Action Camera Market is experiencing significant growth as Adventure Enthusiasts seek to capture and share their extreme experiences in 4K resolution on Social Media Platforms. IoT technology and the Youth population's affinity for tech-savvy gadgets are primary drivers. Extreme sports events, holidays, and seasonal cycles continue to fuel market traction. Technologically advanced devices with bigger sensors, 10-bit color depth, enhanced video stabilization, and the broadest field-of-view are in high demand. Offerings from companies like GoPro, with touch-sensitive screens and voice control, lead the trend. Emerging trends include AI and VR techniques for immersive experiences. Adventurous sports such as mountaineering, rafting, boating, skiing, underwater sports, and high-quality films and photographs are popular use cases. Accessories like dashboard and ocean mounts expand the market, catering to consumers, amateurs, and professionals alike. Lockdowns and holidays like Thanksgiving have boosted sales. Periscope and 360-degree cameras are new additions, offering unique perspectives. Market participants include YI Technology and others, with updated processors and cloud storage services. Shooting needs vary, from standard resolution to Full HD, HD, Ultra HD, and Standard Resolution. The market is diverse, catering to various shooting needs, from extreme sports to emergency services and recreational activities.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Technology
• Ultra HD
• HD
• End-user
• Commercial
• Residential
• Distribution Channel
• Online
• Offline
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio