This market research report presents a detailed analysis of the global action camera market by end-user (casual and professional) and by technology (ultra HD, Full HD, HD, and SD). It outlines the market shares for key regions such as APAC, Eastern Europe, Latin America, MEA, North America, and Western Europe. The key vendors analyzed in this report are Drift, Garmin, GoPro, iON, Rollei, and Sony.
Technavio has released updated information on the camera market, with the publication of its new market research report, global action camera market. The global action camera market is expected to grow at a CAGR of 22% between 2016 and 2020. An increase in the use of social networking sites such as Facebook, YouTube, and Instagram has boosted the demand for action cameras as they provide superior quality images and videos, which can be shared through these sites. North America is the largest revenue contributing region in the global action camera market, accounting for 40% of the total market revenue. A large percentage of the population here can easily afford an action camera, also aided by the fact that a majority of the vendors are based out of this region.
“Bundle packaging is one of the latest trend being witnessed in this market. Vendors bundle cameras with a variety of accessories for consumers. This is a cost-effective scheme for consumers as they need not spend additionally on accessories. This strategy has increased the sale of accessories alongside action cameras and is being used by companies such as GoPro and Canon, which manufacture both cameras and accessories,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research
Ultra HD action cameras dominate the action camera market, occupying around 46% of the overall market revenue. With the growing application of action cameras in global sporting events like Olympics, Football and Cricket World Cups, the market share of Ultra HD action cameras is expected to grow further during the forecast period.
The leading vendors in the global action camera market include Drift, Garmin, GoPro, iON, Rollei, and Sony. This market is one of the fastest growing markets and is highly competitive, with the presence of several suppliers. Intense competition, rapid technological advancement, and frequent changes in consumer preferences present significant risks for providers. Providers in this market offer a variety of benefits such as innovative product features, a guarantee of high-quality images, low costs, and easy availability, to remain competitive in the market.
A more detailed analysis is available in the Technavio report, Global Action Camera Market 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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