An action camera is a digital camera that has been designed to record action sequences while being completely immersed in them at the same time. In recent years, the growing popularity of social media platforms, the massive increase in the creation and consumption of video content on platforms such as YouTube, and digitization are some of the key factors driving the market. The growing popularity and user base of social networking sites such as Twitter, Facebook, and Instagram, coupled with the tendency to share photos and videos with followers and friends, have captured the attention of users. People now tend to post aesthetic and high-quality videos.
The Action Camera Market is expected to grow at a steady rate of around 11.1% owing to the high disposable incomes. Major companies in the market offer the best action camera for social media and firm applications with technologically advanced features. For instance, In September 2022, Insta360, a Shenzhen-based camera company, introduced a new 360-degree action camera called the X3. The cost of this product in China is 2,998 yuan (USD432). The latest gadget can capture 5.7K 360-degree videos, and matter can later be edited through AI tools in the Insta360 app, with automatic reframing methods for creating magic out of the action.
According to UnivDatos’ research report “Global Action Camera Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the rising consumption of video content, availability of cheap data, and increased adoption of smartphones coupled with the launch of the high-definition camera with advanced features.
Based on type, the market is categorized into box type, cube type, bullet type, periscope 360°, and others. Among these, the bullet type to hold a significant share of the market in 2020. This is mainly due to the advantages such as long-range visions and designed for security applications. Thus, bullet cameras are intended to stick out and be noticeable. The main benefit is that they act as a visual deterrent for potential thieves. Though indoor use is feasible, their deterring properties and long-range capabilities make them the perfect outdoor security measure.
Access sample report (including graphs, charts, and figures): https://univdatos.com/reports/action-camera-market?popup=report-enquiry
Based on the resolution, the market is categorized into the 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 shooting in UHD offers the flexibility of standard and high definition. Commercial accessibility of advanced devices with UHD capabilities is driving demand significantly. In addition, Consumer preference for recording in his 4K/UHD over 1080p or 720p has contributed significantly to the growth of the segment.
North America to witness extensive growth
For a better understanding of the market adoption of the Action camera industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing demand for smart video cameras is also driven the market growth. Moreover, the increasing popularity of adventure activities such as skydiving, bungee jumping, and other activities increases the demand for action cameras in the region. In addition, heavy investment in research and development activities by market players involved in product development to create durable and inexpensive action cameras is expected to boost the growth of the market. Moreover, the rapid consumer shift from digital to action cameras is expected to further stimulate product demand in the region.
According to UnivDatos, the key players with a considerable market share in the Action camera market are 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.
“Global Action Camera Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
1. By End Use (Professional, Personal)
2. By Type (Box Type, Cube Type, Bullet Type, Periscope 360°, And Others)
3. By Resolution (Standard Definition, High Definition, and Ultra HD)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (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.)
Key questions answered in the study:
1. What are the current and future trends of the global action camera industry?
2. How the industry has been evolving in terms of end use, type, and resolution?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global action camera industry?
What is the customer orientation, purchase behavior, and expectations from the global action camera suppliers across various region and countries?
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