Action Camera Market Overview:
Action Camera just as the name suggests is the camera specially designed to capture action activities/ sports. These Cameras are attached (mounted) either on the sports equipment such as Ski-boards, Surfboards, Bike/ Car/ Bicycle OR are body-worn (body mount) or attached to the helmet/cap/ tide to the neck. Small, light-weight yet, sturdy Action Cameras come with a lens that can capture HD videos with extended ‘point of view’ (POV) film in a fish-eye view (wide angle).
Attributing to these dynamic features, they make the best choice for action sports. Action Cameras also find extensive uptake in some burgeoning industries like media & entertainment, healthcare (for surgeries), mining, engineering & archaeology coupled with the field of panoramic activities & research & development activities. However, extreme (power) sports is the all-time biggest market for these cameras. Besides, augmenting uptake of Action cameras in diversified industry verticals worldwide coupled with the burgeoning power sports market escalates the market of Action Cameras to extreme heights on the global platform.
Recognizing the exponential expansions the Action Camera Market is perceiving currently, Market Research Future (MRFR) recently published a study report giving out the complete market insight up till 2023. MRFR in its analysis, confirms that the global Action Camera market will ascend to USD 7.64 billion by 2023 registering a double digit CAGR of 13.87% during the assessment period (2017-2023).
In addition, factors that contribute the market growth include increasing industrialization, urbanization along with the improving economy worldwide which is resultantly fuelling consumer’s affordability. Significant investments made by the camera manufacturers to bring more innovations in the features of these cameras, are in turn paying off well by fostering the market growth. This, in turn, contributes to the market growth & proliferation of Action Camera, worldwide. Growing tourism industry coupled with the growing number of travel & sports enthusiastic fosters the market growth to an extent.
Some pet lovers use a body mount or collar mounted camera to monitor their pet’s activities. While, military, law enforcement, public safety agencies/ private security companies use pet mounting action cameras to monitor the activities of their sniffer dogs. Similarly in media/ TV shows it is used to cover extreme activities of a performer or to shoot congested areas where a normal (Handheld) cameras can’t reach such as abyss, apertures or underwater.
On the other hand, the augmented market proliferation of smartphones with the high-end camera is a factor restricting the market growth up to some extent. Adversely, the convenience of ‘hands-free’ that Action Camera offers is a major factor that will foster the market growth.
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Major Key Players:
Rollei (Germany), Garmin (US), GoPro (US), Veho (England), Sony (Japan), Drift (US), iON (US), Olympus (Japan) and TomTom (the Netherlands) are some of the leaders driving the Global Action Camera Market. Profiling those in its analysis MRFR finds out their strategies placing them at the forefront of completion.
Worldwide Action Camera Market Competitive Landscape:
The Action Camera market is fiercely competitive & fragmented owing to the several matured, small players along with the new entrants forming a competitive edge. Product Launch, Agreement & Partnership, Acquisition, and expansion are the key strategies of the key players traced from the recent developments.
They invest heavily in the R&D to develop a technology that is completely on a different level compared to their competition. Manufacturers strive to deliver power-efficient & lightweight cameras capable of producing pristine imagery in a variety of demanding situations.
Industry/Innovation/Related News:
March 30, 2018 – GoPro (US) a global leading maker of Action Cams, launched its latest product – the GoPro Hero Sports & Action camera in India. Listed on ‘Flipkart’ as a Flipkart exclusive device, the camera will be available to buy from April 2nd, 2018.
March 26, 2018 – Pica-Gear (Hong Kong) a leading global provider of mini Tripod / Gear organizers etc. launched its new product – Modular Snap-Grip Handle especially designed for Action Cameras & Smartphones. The new grip boasts three mounting options, has an extendable handle and can be unfolded into a mini tripod.
February 14, 2018 – Skydio, Inc. (US) a leading global maker of flying tools launched its R1 Flying Action Cam – a flying camera. This camera promises to be the smartest flying 4K camera utilizing a Nvidia Jetson chip mainly used in autonomous cars and around 13 cameras to capture a wide range.
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Action Camera Market Segments:
For the convenience of the report and enhanced understanding the report is segmented in to 4 key dynamics;
By Technologies: Includes HD action camera, Ultra HD action camera, &SD action camera among others.
By End Users : Professional & Personal.
By Distribution Channels: Retail Sales &Online Sales among others.
By Regions: North America, Europe, APAC & RoW (Rest of the World).
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Action Camera Market Regional Analysis
North America accounts for the largest market share in the global Action Camera Market. The outstanding growth attributes to the presence of successful brands (camera manufacturers) in the region. Moreover, the growing demand for futuristic technology solutions coupled with the increasing popularity of social networking sites fuels the regional market growth. Continuing with the same trends, the market is expected to lead the global market in the future as well.
The Asia Pacific market, on the other hand, emerging as the fastest growing market for the Action Cameras, is expected to become the second largest market, in terms of value & volume both.
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