Action Cameras Market top key players - Sony Corporation, GoPro Inc., Garmin Ltd., Olympus Corporation, Veho World
The Action Cameras Market are digital cameras used for recording videos while doing activities, usually outdoor adventure sports. They are compact, portable, waterproof, shockproof and crushproof making them extremely suitable for capturing activities such as skiing and surfing.Download For Sample@ https://bit.ly/3xoIxpG
DRIVERS
The main factors that are helping this market to grow are:
• The trend to post pictures and videos on social media has helped the action camera market to grow. There are many promotional and marketing campaigns that also require the use of such cameras.
• The rise in the number of smartphone users and growing consumer electronics industry is also helping this market grow.
• There has been advancement in technology to improve the features offered in these action cameras which also make these cameras more attractive. 360 degrees cameras with virtual reality integration are helping capture events in a better way.
CHALLENGES
There are few challenges that may restrict the growth of the market:
• The action cameras are durable products and their replacement rate is very low.
• The cost to purchase action cameras is high which is why they do not appeal to the masses.
• Many smartphones today are providing good quality advanced cameras to capture various moments so the need for action cameras for personal use is not felt.
ACTION CAMERA MARKET SEGMENTATION
By Types
The different types of action cameras offered in the market are:
• Box style
• Cube style
• Bullet style
• Periscope and 360 degree
• Other
By End User
The market can be segmented as follows based on end users :
• Professional
• Personal
By Technology
The market can be segmented as follows based on technology offered via these cameras:
• Standard definition (SD)
• High definition (HD)
• Ultra high definition (Ultra HD)
By Distribution Channel
The different channels through which these cameras are being sold are :
• By brand outlets
• Supermarkets/Hypermarkets
• E-commerce
• Specialty stores
By Region
The regional segmentation can be done as follows:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa
IMPACT OF COVID-19
Like many other markets, the global action camera market had been negatively impacted during the coronavirus pandemic. There has been loss in revenue and many producers globally stopped their production completely. The main issues that this market faced were :
• The shortage in supply of raw materials due to the complete lockdown in many parts of the world.
• The shortage of human labour during this period.
• In many countries, there were several restrictions that were imposed on international trade which also affected the market.
COMPETITIVE LANDSCAPE
The market is fragmented with a few well known players. The key players in the action camera market are:
Sony Corporation
GoPro Inc.
Garmin Ltd.
Olympus Corporation
Veho World
TomTom NV
SJCAM Limited
PLR E commerce
LLC
Nikon Corporation
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