Action Camera Market: Current Analysis and Forecast (2022-2028)

Global Action Camera Market is expected to grow at a significant rate of around 11.1% during the forecast period. An action camera is defined as a digital camera designed for recording action while being immersed in it. In recent years, the demand for the action camera has risen dramatically due to the growth of the global action camera market sector due to various advantages that allow standard comparison of multiple shooting points by DSLR. The action camera includes many features such as B. Record 4K video recording. Thus, the growing focus and investment of key stakeholders in the research and development of technologically advanced action cameras is further expected to support market growth. For instance, In January 2020, Insta360 introduced One R Convertible Action Camera. It was waterproof that can be used as a 360-degree capture device and can be also used as a standard action camera.

Nikon Corp, GoPro Inc, Olympus Corp, Garmin Ltd., Rollei GmbH & Co. KG, Sony Group Corp, SZ DJI Technology Co., YI Technology, Drift Innovation, Eastman Kodak Co. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst End Use, Personal category to witness significant CAGR during the forecast period"

Based on end use, the market is segmented into professional, and personal. Personal category to witness significant CAGR during the forecast period. This is mainly due to the rapid growth in the adoption of social media platforms by younger generations. Many amateurs as well as professionals have started uploading and posting videos of their adventures and life experiences, fueling the growth of the segment. As stated by Cisco Systems, Inc. by 2021, social networking will account for 22% of traffic within data centers.

"Amongst resolution, the ultra HD to hold a significant share in the market in 2020"

On the basis of resolution, the market is categorized into standard definition, high definition, and ultra HD. Among these, the ultra HD to hold a significant share of the market in 2020. This is mainly due to the Ultra HD delivering flexibility in standard definition and high definition. Major companies are developing new products with 4K & 5K resolution, wide-angle lenses, and water-resisting features. According to the Diving Equipment and Marketing Association (DEMA) statistics, there were around 2.5 to 3.5 million active scuba divers in the U.S. and around six million active scuba divers globally as of 2019.

"North America to hold a significant share in the market"

In 2020, North America held a significant share of the global action camera market. This is mainly attributed to the increasing recreational expenditure and the rising number of social media events driving the region's action camera market. Moreover, the growing preference of the youth toward adventure and off-road events and the availability of a wide range of products across varied prices are the factors that drive the growth of the industry. In addition, action cameras are very useful in activities, such as nature exploration, hiking, skydiving, and other outdoor exploration. Thus, growing participation in outdoor recreational activities has been a major driving factor in the market. Moreover, substantial investments in R&D activities for the development of advanced versions are also supporting regional growth. Moreover, it is expected that the market will continue to grow at a steady rate during the forecast period owing to the high-income levels of the consumers in the region.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

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