Pre and Post COVID-19 Market Analysis: Action Camera & Accessories Market Worth $6.58 billion by 2027 at a CAGR of 13.5%

According to a new market research report titled, "Action Camera & Accessories Market by Product Offering (Action Camera, Accessories), Technology (Full HD, Ultra HD), Frame Rate (31-60, 61-120 fps), Distribution Channel, End User (Personal, Professional), and Application– Global Forecast to 2027", the action camera & accessories market is expected to grow at a CAGR of 13.5% from 2020 to 2027 to reach $6.58 billion by 2027 from $2.7 billion in 2020. In terms of volume, the action camera market is estimated to grow at a CAGR of 12.1% from 2020 to 2027 to reach 29.9 million units by 2027 from 13.4 million units in 2020.

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The action camera & accessories market is driven by factors, such as the innovation of cameras with the integration of sensors, water & shockproof features, and AI technology. These cameras can capture optimized photos & videos with image quality, further increasing their demand in the entertainment & media, travel & tourism, and sports industries. AI-based features improvise the camera positioning, coverage, and accuracy of action cameras to gain high consumer attraction. The development of cameras with biometric sensors and the trend of miniaturization in the camera industry globally has resulted in the rapid growth of the action cameras market in recent years.

Consumers in the action camera industry prefer small, miniaturized, and easy-to-carry cameras over the huge SLRs to efficiently capture ongoing activities, such as travel blogs, underwater sports, air sports, and recreational activities. These factors and the increased consumer awareness for adopting advanced wide-angle view cameras will support the action camera demand over the forecast timeline. The availability of advanced substitute products such as smartphones & 360-degree cameras and data security concerns associated with the action cameras & applications are expected to hinder the market growth.

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Impact of COVID 19 on the Action Camera & Accessories Market

The effect of COVID-19 had a significant impact on the action camera & accessories market. Governments of various countries-imposed lockdown to minimize the spread of the virus. This resulted in disruption of the supply chain due to the shutdown of manufacturing facilities and trade restrictions. The application sectors for action cameras, including travel & tourism, sports, and entertainment & media, were temporarily closed in the first, second, and third quarters of 2020 globally. However, the market is slowly gaining its tracks, with the slow and steady opening of adventure sports, travel & tourism, and entertainment sectors in some countries. The consumers are restarting their travel blogs, sports & adventure blogs, and online video showcasing channels after the global pandemic in 2020, which is expected to support the recovery of the action camera & accessories market.

Based on product offering, the action cameras segment is expected to witness the highest CAGR in terms of revenue and volume over the forecast period due to increased purchases of these cams in the automotive & adventure tourism sectors to record high quality, stable, and uninterrupted videos. Action cameras and accessories are gaining demand across young consumers who are majorly using cameras for performance tracking and online showcasing of adventure sports, such as biking, recreational activities, racing, and underwater & air sports. Consumers in the professional end-user sector pose a need for various advanced accessories, such as mods, protectors, and mounts to place cameras at bikes, bicycles, helmets, pets, dashboards, and smartphones to capture videos while performing the ongoing tasks.

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Scope of the Report

Action Camera & Accessories Market, by Product Offering

Action Cameras
Action Camera Accessories
Batteries
Mounts
Mods
Protectors
Other Accessories
Action Camera & Accessories Market, by Technology

Full HD
Ultra HD
SD
Action Camera & Accessories Market, by Frame Rate

31-60 fps
15-30 fps
61-120 fps
121-240 fps
Action Camera & Accessories Market, by Distribution Channel

Online
Offline
Action Camera & Accessories Market, by End User

Personal
Professional
Action Camera & Accessories Market, by Application

Sports
Travel & Tourism
Recreational Activities
Entertainment & Media
Automotive
Emergency Services
Other Applications
Action Camera & Accessories Market, by Geography

North America
U.S.
Canada
Europe
U.K
Germany
France
Italy
Spain
Switzerland
Russia
Rest of Europe
Asia-Pacific (APAC)
China
India
Japan
South Korea
Australia
Singapore
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of the Middle East and Africa

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This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S., and Canada), Europe (UK, Germany, France, Italy, Spain, Switzerland, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Singapore, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East and Africa (UAE, Saudi Arabia, South Africa, and Rest of the Middle East and Africa). Asia-Pacific region is expected to gain the fastest growth from 2020-2027 due to the increasing adoption of advanced electronic products and cameras in the travel & tourism and sports sector. Also, the presence of several major manufacturers in Asian countries, such as China, Japan, and South Korea, is a major factor for the development of the action camera & accessories market. The availability of action cameras at low costs compared to the North American and European markets gains high consumer attraction in low-income countries.

The key players operating in the global action camera & accessories market are GoPro, Inc. (U.S.), Sony Corporation (Japan), Insta360 (Arashi Vision Inc.) (China), SJCAM (China), JVCKENWOOD Corporation (Japan), TomTom International BV (Netherlands), Garmin Ltd. (U.S.), SZ DJI Technology Co., Ltd. (China), Drift Innovation (U.K.), YI Technology (China), Eastman Kodak Company (U.S.), Nikon Corporation (Japan), Rollie (Germany), Panasonic Corporation (Japan), and Xiaomi (China) among others.

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