Action Camera Market: Current Analysis and Forecast (2022-2028)
Emphasis on End Use (Professional, Personal); Type (Box Type, Cube Type, Bullet Type, Periscope & 360°, And Others); Resolution (Standard Definition, High Definition, And Ultra HD); and Region/Country
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:
The global action camera market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Action Camera Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global action camera market were the three major steps undertaken to create and analyze the adoption of action cameras in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global action camera market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the action camera market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the action camera market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as end use, type, and resolution. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the action camera market. Further, we conducted factor analysis using dependent and independent variables such as various rising uses of social media as a platform for various promotional & marketing activities. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the action camera market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global action camera market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the action camera market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global action camera market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global action camera market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of end use, type, and resolution in the global action camera market.
The main objective of the Global Action Camera Market Study
The current & future market trends of the global action camera market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the action camera market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of end use, type, and resolution.
- Define and analysis of the regulatory framework for the action camera
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the action camera market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the action camera market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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