Action Camera Market Analysis Report By Resolution, By Distribution Channel, By Application, By End Use, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global action camera market size was valued at USD 3.3 billion in 2018 and is expected to grow with a CAGR of 16.7% over the forecast period, from 2019 to 2025. The key factors driving the growth of the market are music festivals, seasonal cycles, holidays, and sports events globally. Additionally, the growing popularity of these cameras in outdoor activities along with professional activities is boosting the demand for action cameras. Moreover, technological development in the consumer electronics sector such as the integration of virtual reality and artificial intelligence technologies in cameras is projected to further surge the market growth during the forecast period.

Development in the consumer electronic industry like the adoption of sensors and the increasing adoption of smart gadgets is expected to drive the market growth. Features like compact size, versatility, portability, and convenience have resulted in fueling product demand. Moreover, action cameras shoot videos with first-person personal views into activities like skiing, rock climbing, and surfing, which is making these cameras popular in the market.

There is a significant growth in the number of adventurists and sports enthusiasts worldwide as exploration and travel have become a major trend. Action cameras help to fulfill adventurists and sports enthusiast demand, as they are compact, available in different sizes, shapes, and lightweight that suits any environmental conditions. Furthermore, high image quality and 4K resolution offer high-end quality videos. In addition, prolonged battery life and ruggedness are key features that are positively influencing market growth.

Waterproof casings for action cameras have generated new opportunities for market growth. For example, Nikon KeyMission360 offers an in-built waterproof casing, wherein customers have to buy aftermarket casings for Veho K2Pro 4K. In addition, features like compatibility worth mobile apps and Wi-Fi and network connectivity through the internet have created ample opportunities for market growth. Hence, manufacturers are focusing on developing these cameras with advanced technologies to attract maximum customers.

However, the complexity in handling these cameras with several accessories for first-time users can hamper market growth, as complexity can decrease the users' interest to explore such gadgets. High cost is another factor that influences users to adopt smartphones with advanced features and the latest versions. Hence, market players are engaged in introducing waterproof, durable, compact design, low cost, and weather resistance actin cameras to attract the consumer’s attention

Resolution Insights

On the basis of resolutions, the market is fragmented into ultra HD (UHD), full HD, HD, and standard resolution. Action cameras comprise a wide-angle lens in order to capture the desired view since 4k resolution provides high-end quality videos. The correctness of video resolution highly relies on cameras as well as devices used for capturing images. Additionally, the presence of sensors and semiconductors in camera units improves product quality. Chips miniaturization influences the format and type of resolution for action cameras.

The UHD resolution segment is anticipated to exhibit the highest CAGR during the forecast period as it offers various advantages to users. For example, shooting in USD offers flexibility in high definition and standard definition. Growing commercial adoption for advanced cameras along with the UHD feature is majorly driving the product demand. In addition, increasing consumer preference to shoot in 4K/UHD more than 1080p or 720p is expected to propel the segment growth over the forecast period.

Distribution Channel Insights

By distribution channel, the market is segmented into retail and online. The retail segment is projected to hold the largest market share. People who are proficient with the application of the latest technology prefer to check products and their features physically. In addition, retail sales comprise high customer loyalty due to their aftermarket services with nominal charges.

The online channel is projected to grow at a faster CAGR over the forecast period. This growth is attributed to increasing consumer preference for online shopping and the growth of the e-commerce industry. Attractive web graphics, online offers, and discounts are major factors that influence buyers purchasing decisions. Moreover, many consumers prefer to purchase lenses through the e-commerce portal which is expected to augment the segment growth during the forecast period.

Application Insights

On the basis of application, the market is segmented into recreational activities, sports, emergency services, and others. In 2018, the sports segment held the largest market share due to growth in adventure sports along with large exposure from media. In addition, a growing number of sports fans such as skiing, climbing, biking, racing, bicycle, skydiving, surfing, and skateboarding are expected to further drive the segment growth during the forecast period. Moreover, technological advancement in resolutions and lenses is enhancing the quality of videos and images in action. Additionally, a rising number of sports leagues across the world will support the growing demand for action cameras in the sports segment.

Recreational activity is expected to emerge as the fastest-growing application during the forecast period. This growth is attributed to the growing interest in adventure sports and fitness across the world, especially in developing nations. In addition, outdoor activities including sea-surfing, scuba diving, and mountaineering have currently taken professional form in developing economies. For scuba diving, around 1 million certificates are issued every year across the globe. Therefore, the robust growth of the scuba diving industry is expected to witness a positive impact on market growth.

Regional Insights

In 2018, North America dominated the global action camera market due to the increasing popularity of recreational activities such as skydiving, bungee jumping, and paragliding. In the U.S., media coverage for such activities is on the rise, thereby the demand for action cameras is expected to increase in this country over the forecast period. Further, high investments in R&D activities by the market players operating for product development to develop action cameras that are both durable and cheaper are expected to drive the market growth.  Moreover, the rapid shift of consumers towards digital to action cameras is expected to further boost the product demand in this region.

The European action cameras market is projected to gain traction as a large number of players operating in this region are launching new products. For example, in 2019, Motorola One Action introduced a 117-degree wide action camera, and the product mainly focuses on video recording via a wide-angle lens. This product has a primary camera with 12 MP that records up to 4K resolution and a secondary camera with 5MP.

Impact of COVID-19

Due to the outbreak of COVID-19, most countries have imposed lockdown, and even curfew which has huge impacts on lifestyles, health & wellbeing, and also effects on sports and outdoor activities, thereby it is affecting the growth of the action camera industry to some extent. The impacts on sport and adventurous activities have been complex and highly uneven. Sports leagues and sports mega-events have been postponed or canceled thereby are expected to adversely impact market growth during the pandemic situation.

However, leading players such as GoPro, DJI, Sony, and others have launched action cameras with plenty of advanced features, in 2020. Technological development and new product launch strategies implemented by key players are expected to strengthen their business in the COVID-19 outbreak.

Action Camera Market Share Insights

The global market is highly competitive due to the presence of a large number of market players. The key players have adopted a new product launch strategy in recent years. However, some players are offering cloud storage services for these cameras to tap a new customer base across the globe. For example, in 2019, GoPro launched a highly versatile with advanced features, HERO8 Black. This includes enhanced resolution, HyperSmooth 2.0, and high video stabilization. In addition, other features like ‘horizon leveling’ and ‘Boost mode’ are driving the product demand among consumers.

The major players include in this market are SZ DJI Technology Co., Ltd.; GoPro, Inc.; Nikon Corporation; SJCAM, YI Technology; Sony Corporation; Drift Innovation; and Garmin Ltd. These companies are engaged in launching new products at an affordable cost to gain maximum customer base and to sustain in a competitive market. Moreover, these key players are using both retail and online channels for action camera sales to spread their business across the globe.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global action camera market report on the basis of resolution, distribution channel, application, end-use, and region:

• Resolution Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
    • Ultra HD
    • Full HD
    • HD
    • Standard Resolution

• Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
    • Online
    • Retail

• Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
    • Sports
    • Recreational Activities
    • Emergency Services
    • Others

• End-use Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
    • Personal
    • Professional

• Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
    • Asia Pacific
        • China
        • Japan
        • India
    • Latin America
        • Brazil
    • Middle East & Africa