Press release
Action Camera Market Achieved USD 4.1 billion in 2021, and will increase at a CAGR of 13.1%, to reach USD 11.0 billion in 2029| Size, Share, Research Report
Action Camera Market
The Action Camera Market projected at USD 4.1 billion in 2021 and to register a double digit CAGR of 13.1% during the period, 2022-2029 and is expected to reach USD 11.0 billion in 2029.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/action-camera-market-analysis-industry-research/
The factors driving the growth of Action Camera Market includes growing internet penetration rates, rise in the sales of consumer electronics such as smartphones and tablets, availability of cheap data and increase in the consumption of video content around the world. According to the report published by Statista, around 56% of the global population were using social media platforms in 2021 and is expected to rise to 74% by the end of 2026, reaching 4.59 billion, which will accelerate the Action Camera Market share in the approaching years. Moreover, increase in youth's participation for creating video content, rapid growth in the tourism industry, integration of advanced technologies such as Augmented Reality (AR), Virtual Reality (VR) and Artificial Intelligence (AI) with action cameras, are some of the additional factors supplementing the Action Camera Market size. In addition, the increasing investments by leading players on research and development, growing importance of social media marketing, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Action Camera Market is hindered attributed to high cost of procuring action cameras.
The prominent players operating in the market are Sony Corporation, SJCAM, Rollei, GoPro, Inc., Nikon Corporation, Garmin Limited, TomTom International BV, Drift Innovation, OM Digital Solutions Corporation, and insta360.com among others.
Based on Distribution Channel, Online segment is predicted to expand at a significant CAGR during the forecast period
Online stores offer wide range of camera products, provides attractive discount options and are open 24*7 along with rising trend of online shopping, are some of the factors responsible for growth of the segment
Based on Application, the Sports segment is projected to grow at a remarkable CAGR over the forecast period
As per the Action Camera Market Analysis, rise in the number of sporting tournaments such as biking, skateboarding, and skydiving, across the globe, is pushing growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to capture a sizeable market share during the forecast period
According to the Action Camera Market Forecast, expansion of the Travel and Tourism industry, rise in the number of sporting events across India, China, and Japan, technological advancements in action cameras, rapid urbanization, increasing per capita income and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Development
In 2020, Insta360 introduced One R Convertible Action Camera at CES, which is waterproof, supports voice commands, can be tied together using the included mounting base, and it can be used as a standard action camera or as a 360-degree capture device.
Market Segmentation
Segmentation by Resolution
Ultra HD
Full HD
Others
Segmentation by Distribution Channel
Online
Retail
Segmentation by Application
Sports
Recreational Activities
Emergency Services
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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