Bike Camera Global Market Report 2024

A bike camera is a compact video recording device designed to be mounted on a bicycle or helmet, capturing real-time footage of rides and surroundings for various purposes such as safety, documentation, or entertainment. These cameras are known for their lightweight design, durability, and features such as high-definition video recording, image stabilization, and wide-angle lenses.

The main categories of bike cameras include 4K, 1080P, 720P, and others. A 4K bike camera specifically offers high-resolution video recording at 3840 x 2400 pixels, providing detailed and immersive footage of cycling adventures. These cameras are available through both online and offline sales channels and find applications in personal and commercial use.

The bike camera market research report is one of a series of new reports from The Business Research Company that provides bike camera market statistics, including bike camera industry global market size, regional shares, competitors with a bike camera market share, detailed bike camera market segments, market trends and opportunities, and any further data you may need to thrive in the bike camera industry. This bike camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future- scenario of the industry.

The bike camera market size has grown strongly in recent years. It will grow from $1.86 billion in 2023 to $2.03 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to the increasing popularity of cycling, growing concerns for cyclist safety, trends in adventure and sports cycling, community and social media engagement, as well as considerations related to legal and insurance aspects.

The bike camera market size is expected to see strong growth in the next few years. It will grow to $2.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to the integration with smart cycling accessories, the rise in bike commuting and urban cycling, the influence of cycling events and competitions, environmental advocacy, and bike tourism. Major trends in the forecast period include the emergence of 360-degree cameras for comprehensive coverage, integration with navigation and GPS systems, the rise of subscription-based cloud services, a focus on rugged and weather-resistant designs, and the incorporation of voice control features.

The burgeoning trend of bike commuting is anticipated to drive the expansion of the bike camera market in the foreseeable future. Bike commuting involves using bicycles as the primary mode of transportation for daily travel, promoting healthier and more sustainable urban mobility. The growing adoption of bike commuting encourages safety-conscious cyclists to invest in bike cameras, aiming to document their rides and safeguard themselves in case of accidents or untoward incidents. This shift has resulted in an uptick in bike camera sales. For instance, data from May 2023 by the UK-based charitable membership organization Cyclist's Touring Club Company Ltd. revealed that in 2021, approximately 315,000 individuals (7% of those 16 or older) used bicycles for transportation, marking an increase from 227,000 (5%) in 2019. Furthermore, around 10% of the population (5.7 million people) cycled at least a few times in 2021, showcasing growth from 8% in 2020. Consequently, the rising preference for bike commuting is poised to significantly influence the bike camera market.

The escalating demand for bicycles is projected to fuel the expansion of the bike camera market in the coming years. Bicycles, whether human-powered or motor-powered, serve as pedal-driven, single-track vehicles featuring two wheels attached to a frame. Bike cameras play a crucial role in providing evidence for accidents or incidents on the road, thereby aiding in insurance claims or legal proceedings. As per data from the US-based government agency, the Bureau of Transportation Statistics, the value of non-motorized bicycles imported surged from 0.5 million in March 2020 to 1.0 billion in February 2023, signifying an exponential increase of over 18,000%. This surge in bicycle demand is directly contributing to the heightened demand for bike cameras in the market.

The anticipated limitations on the growth trajectory of the bike camera market primarily revolve around the costs associated with installation and maintenance. The installation of a bike camera necessitates additional components such as mounts and cables, resulting in increased expenses for the camera system. Moreover, advanced camera systems often incur high maintenance and repair costs. For instance, according to Autotrader, a US-based online marketplace for car buyers and sellers, the installation cost of a 360-degree camera in a bike kit alone can range between $200 to $900 in September 2023, with additional labor costs if a third party handles the installation. Hence, the expenses linked to installation and maintenance pose a significant hindrance to the growth potential of the bike camera market.

Prominent players within the bike camera market concentrate their efforts on innovating their product offerings to secure a competitive edge. Notably, companies such as INNOVV Tech Co. Ltd. have introduced cutting-edge products such as the INNOVV H5 Helmet Camera. The INNOVV H5 stands out for its compactness, durability, and exceptional features, including a 360-degree panoramic view and real-time stabilization. Designed to be affixed to helmets or headgear, this device captures hands-free, high-quality video footage, catering to action sports, adventure travel, and safety documentation. Launched in May 2022, this portable, modular system integrates a high-performance Sony 4K sensor, image stabilization technology, and a diverse range of user-selectable imaging capabilities, optimizing video recordings across various resolution settings, including 4K, 2.7K, 1080, and 720P. Its versatility extends to mount compatibility, automatic recording functionality, user-friendly controls, and a dedicated mobile application, enhancing its usability.

In August 2023, GoPro Inc., a leading US-based manufacturer of wearable action cameras and accessories, forged a partnership with Grand Prix Motorcycle Racing (MotoGP) operated by Dorna Sports, S.L. This collaboration establishes GoPro as the official wearable action camera for MotoGP events starting from 2023. This partnership represents the amalgamation of the most adaptable camera technology with one of the most thrilling sports globally. The collaboration entails the dissemination of GoPro footage across MotoGP's extensive social media platforms and motogp.com, showcasing exclusive content such as the GoPro onboard lap preview of each track and other engaging content. Dorna Sports SL, a Spain-based sports management entity responsible for overseeing the promotion, marketing, and organization of MotoGP races and events, facilitates this partnership.

Major companies operating in the bike camera market report are Sony Corporation, Garmin Ltd., Shimano Inc., Nikon Corporation, SZ DJI Technology Co Ltd. (Dajiang Innovations), GoPro Inc., Coleman Company Inc, TomTom N.V., Polaroid Corporation, Sena Technologies Inc., SJCAM Ltd., Mio (MiTAC Europe Limited), RevZilla Motorsports LLC, Insta360 (Arashi Vision Inc.), Cycliq Products Pty. Ltd., Veho Tech Inc., Contour LLC, SVP, Drift Innovation Ltd, MOHOC Inc., Runcam, Sound Around Inc, Campark, Dargon Touch, YI Technology Inc., INNOVV Tech Co. Ltd.

North America was the largest region in the bike camera market in 2023. The regions covered in the bike camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the bike camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The bike camera market consists of sales of action cameras, helmet cameras, rear-view cameras, cycling camera apps, and 360-degree cameras. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Bike Camera Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on bike camera market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for bike camera? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bike camera market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: 4K; 1080P; 720P; Other Types
• 2) By Sales Channel: Online; Offline
• 3) By Application: Personal; Commercial
• Companies Mentioned: Sony Corporation; Garmin Ltd.; Shimano Inc.; Nikon Corporation; SZ DJI Technology Co Ltd. (Dajiang Innovations)
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.