Action cameras are widely used to record extreme sports such as skiing and surfing, capturing sporting action from different angles. They consist of a wide-angle lens to capture desired wide and best possible view as clear as 4k resolution quality. Features such as portability, compact size, versatility, and convenience, and the launch of new products by market players with features such as Wi-Fi and the Internet of things (IoT) are boosting the demand for action cameras. For instance, in January 2019, Panasonic Inc. launched the HX-A1 action camera. The device can capture videos in total darkness with the help of an infrared torch. This waterproof to 1.5 meters, shockproof, and the dustproof camera can be used in capturing the behavior of nocturnal animals. Furthermore, the introduction of weather-resistant action cameras is expected to fuel the demand in the coming years. However, the high cost of action cameras may hamper the market growth during the forecast period.
Global Action Camera Market is valued approximately at USD 4.44 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 16.7% over the forecast period 2021-2027 and is estimated to reach USD 13.09 billion by 2027.
Asia Pacific, North America, Europe, Latin America, and the Rest of the World are considered for the regional analysis of the global Action Camera Market. North America is the dominating region among the above-considered regions in terms of market share due to high disposable income and growing popularity for adventure activities such as skydiving, paragliding, and others. Whereas Asia Pacific is anticipated to exhibit the highest CAGR over the forecast period 2021-2027 due to the rise in demand for various innovative and compact action cameras for outdoor activities.
Major market players included in this report are Drift Innovation, Garmin Ltd., GoPro Inc., Nikon Corporation, Olympus Corporation, Panasonic Corporation, Sony Corporation, SZ DJI Technology Co., Ltd, YI Technology, and The Ricoh Company.
The detailed segments and sub-segment of the market are explained below:
By Resolution: Ultra HD, Full HD, HD, Standard Resolution
By Distribution Channel: Online, Retail
By Application: Sports, Recreational Activities, Emergency Services, Others
By End-use: Personal, Professional
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