Action Camera Market Highlights:
According to a research report by Market Research Future (MRFR), the global action camera market is slated to attain a substantial market valuation of USD 9,382.5 Million by 2023, at a moderate 14.21% CAGR over the review period.
According to the action camera market analysis made by MRFR, various influential factors are fueling the growth of the global Action Camera Marketshare, such as the growing usage of smart devices, the booming consumer electronics industry, and the rising consumer trend of sharing content on social networking websites.
The continual technological advancements taking place in the consumer electronics industry has resulted in the miniaturization of several gadgets, along with cameras, improving their quality, and efficiency. These factors are anticipated to contribute towards the increasing demand in the action camera industry and action camera market growth over the review period.
Action Camera Market Competitive Analysis:
The leading market players identified by MRFR in the global market are Garmin Ltd. (US), Sony Corporation (Japan), Nikon Corporation (Japan), GoPro, Inc. (the US), SZ DJI Technology Co., Ltd (China), Olympus Corporation (Japan), Veho World (UK), SJCAM Limited (China), PLR Ecommerce, LLC (US), TomTom NV (Netherlands), Panasonic Corporation (Japan), and YI Technology (China).
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Action Camera Market Segmental Analysis:
The global action camera has been segmented on the basis of type, technology, distribution channel, and end-users.
- The types of action cameras available in the market are box style, cube-style, bullet-style, and periscope, and 360 degrees. The box style segment held the largest market share in 2017, with a market value of USD 1,765.7 million and is slated to register the highest CAGR of 15.00% during the forecast period. The cube style segment is projected to exhibit a significant CAGR during the forecast period. One of the growing trends in the market is the adoption of 360° cameras with the incorporation of VR, which provides the user with a life-like experience of any event.
- Based on the technology, the action cameras market is segmented into Ultra HD, Full HD, HD, and SD.
- The distribution channels used by market players are online, and brick and mortar stores.
- By the end-user, the market has been bifurcated into personal and professional.
Action Camera Market Regional Analysis:
On the basis of region, the global action camera market has been segmented into Asia-Pacific, Europe, North America, and the rest of the world. North America is expected to dominate the global action camera market with a CAGR of 11.16% during the review period. The presence of GoPro, Inc., which holds a leading spot and around half of the overall market share, is driving the growth of the action camera market in the region. The developed countries such as the US and Canada are both countries with high disposable income. Furthermore, the consumer electronics market in North America is significantly improved and mature.
Every major market player has a physical store in the US, which further contributes to the complete sales of action cameras in the region. additionally, higher competition from the new Asian companies offering cheaper products than the established players may pose as a challenge for the companies operating in North America over the assessment period. Asia-Pacific is projected to grow as the second-largest market exhibiting the fastest CAGR in the market of 17.39%. Innovation by companies such as Panasonic Corporation, Sony Corporation, and SJCAM, and their entry into the action camera market have risen the rivalry among the established market players. Another major factor that supports the growth of the action camera market is the cost-sensitive consumer base.
The domestic and regional companies offer action cameras with similar or advanced features at lower rates. The action camera market in Europe is expected to register a 15.13% CAGR. Moreover, the British government and other government authorities in countries are planning on investing in the use of action cameras for law enforcement and surveillance activities. The action camera market in the rest of the world is poised to register a CAGR of 8.64% during the forecast period. On the other hand, most of the Latin American and African countries are observing a relatively low demand for action cameras.
Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Network Technology Software
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
Continued…
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List of Tables
Table 1 Action Camera Market, By Technology
Table 2 Action Camera Market, By Distribution Channel
Table 3 Action Camera Market, By End-User
Continued…
List of Figures
Figure 1 Research Methodology
Figure 2 Action Camera Market, By Technology (%)
Figure 3 Action Camera Market, By Distribution Channel (%)
Continued…
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