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Global Action Camera Market 2021: By outlook (Ultra HD, Full HD, HD, Standard Resolution), By distribution (Online, Retail), By application (Sports, Recreational activities, Emergency services, Others)Global Action Camera Market is a report recently generated by Trusted Business Insights. The study and analysis were conducted using highly qualified opinions and inputs, as well as comprehensive primary and secondary research efforts to determine various aspects of the action camera market. The global action camera market segmentation allows for deeper thought and understanding in order to decisively assess, analyze, and study. Besides revenues for segments, the global, regional, and country-wise market revenue segmentation has been compiled in a fastidious manner for clear flow and understanding. The Global Action Camera market size was valued at USD $2.71 Billion in 2020, USD $3.05 Billion in 2021, forecasted to reach USD $3.42 Billion in 2022, and is projected to reach USD $9.69 Billion by 2030, and is anticipated to expand at a CAGR of 12.32% over the forecast period from 2020 to 2030.
Overview:An action camera is a digital camera that has been designed to record action sequences while been completely immersed in it at the same time. It would then make sense for these cameras to have a sturdy, compact build while being waterproof at the surface-level. These cameras can shoot from an individuals point of view and can be worn or mounted. They are designed to capture footage from a first-person point of view, and as such, are extremely popular among adrenaline junkies, athletes and the like.
Dynamics:The global action camera market is expected to index a higher CAGR over the forecast period. The rising popularity of outdoor activities, music festivals, extreme sporting events, seasonal cycles, are some of the reasons for the popularity of action cameras which has only fueled the growth of the global action camera market. A constant progression of innovations made in this field like the miniaturization of sensors, the comprehensive use of smart gadgets, the portable and versatile sizing of these devices along with added features like Wi-Fi connective capabilities, etc. have led to a positive surge in the global action camera market. With the implementation of water-proof camera housings, 4K resolution, and crystal-clear video capture with high image quality, has created immense opportunities for manufacturers. Contrarily, the buying decision of first-time customers can be negatively influenced due to the complexity of handling these devices. Another factor that could diminish the reach of the global action camera market is the pricing of these devices. And, one must not forget that most smartphones come equipped with advanced cameras that are comparatively cheaper in price. In order to vie for the attention of new and existing customers, manufacturers have resorted to introducing models with a vast array of features that are waterproof, compact, durable, or water-resistant and that are low in cost. In terms of the resolution aspect of the market, the Ultra-HD (UHD) segment is slated to witness a high CAGR over the forecasted period on account of the advantages it offers its users. With respect to distribution, there are two sections – retail and online. With the online channel being expected to positively influence the market, both for existing and new customers. And, online discounts being offered by sellers during festive seasons or occasions will also serve as an added boost for the global action camera market. On account of application, the sports segment encompassed a majority of the markets share and is expected to continue to do so. Recreational activities appear to be the fastest-growing segment on account of the piqued interest in adventure and fitness activities.
Regional Analysis:Due to this increased interest and popularity of outdoor adventure activities and higher disposable incomes, North America dominated the global action camera market in 2018. With many of the industrys key players launching products meant only for European markets, Europe is expected to leave a profound mark on the global action camera market in the foreseeable future.
Below are the leading companies profiled in this Action Camera Market Report:
Chapter 1 Methodology and Scope