The global action camera market size was valued at USD 1,977 million in 2021, envisioned to reach USD 3,911 million growing at a CAGR of 8.9% during the forecast period. A camera is a device for capturing moments in photographic format. A basic camera model that can capture a single image is called a still camera. Still, a camera intended to capture moving images is sometimes referred to as a movie camera. Digital cameras are a new generation of cameras. An action camera, sometimes known as an action cam, is a high-definition (HD) digital camera designed to film live activity. These cameras are compact, portable, and lightweight. They are excellent at capturing action, making them ideal for filming a video in challenging environments on the move or at rapid speeds. Cycling, skydiving, skating, climbing, and surfing are some activities that action cameras can capture. Action cameras are typically mounted on a bicycle or comparable vehicle's cap, helmet, chest, or handlebars.
Once recording has commenced, action cameras are designed to need minimal human involvement so that the operator can record continuous action without interfering with the camera. It records images and movies to a micro-SD card and features slots for USB-C and Micro-USB connectors. The rise in discretionary income and popularity of adventure sports such as surfing, skydiving, caving, and snorkeling are the primary reasons for the increase in demand for action cameras by both professional customers and individual users to capture memories and experiences during these thrilling outdoor recreational activities. The most recent trends in action camera markets include digital upgrades and IoT integration.
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The Popularity of Social Media Contents and Adventure Sports
Social networking sites have become integral to everyone's lives in recent years. Customers utilize major social sites such as Facebook, Twitter, Instagram, Snapchat, and TikTok. Professional photographers and filmmakers use these platforms to disseminate their content over the globe in seconds and with a single click. With more than a billion users, YouTube, Instagram, and WeChat follow Facebook. Professionals use this trend as an opportunity to seize maximum followers and demonstrate their talents to a virtual audience. Numerous divers, surfers, ski pros, bicyclists, motor drivers, and even parachute jumpers utilize action cams to live-stream or exclusively broadcast their adventures. With the opportunity to access any content from any part of the globe, individuals are more interested in acquiring knowledge of such daring behaviors in their locales. This has aided professionals in reaching their intended audience, contributing to the action camera market's expansion.
Recently, there is witnessed a rise in extreme sports coverage on television. Several online and offline basic and advanced training programs are available to learn the technical aspects of such sporting activities. Extreme adventure sports have attracted a growing number of participants as their popularity has increased. New varieties of bungee jumping and more thrilling roller coasters are being added to amusement parks. Customers are anxious to capture these once-in-a-lifetime experiences, and as a result, both professional and personal end-users of action cameras like to record them. New extreme sports have introduced the usage of cameras in sports. Photos and films capture daredevil stunts and help acquire new approaches to such actions. This element has contributed to the growth of the action camera industry in recent years.
The Technologically Advanced Smartphones with Evolved Cameras
In recent years, camera phones have gone from being a novelty to one of the most often used photography methods. Regarding personal end-users using digital cameras to record or capture images, cellphones provide comparable features to digital action cameras at a lower price than action cameras. Numerous smartphones on the market provide innovative new capabilities for their built-in cameras, including temperature sensors, waterproofing, damage prevention, and gravity sensors. These functions are sometimes omitted from personal action cameras. The adoption of smartphones with such advancing camera technologies threatens to expand the market for action cameras.
The Introduction of Camera with Advanced and Improved Features
In any electronic gadget, there is a perpetual need to upgrade technologies. Market participants are conducting research and producing several technologies that are appealing and ensure clients of a superior action camera experience. For example, recently developed waterproof casings for outdoor action cameras have created new prospects for market growth during the past few years and are projected to continue to do so in the coming years. In addition, the most recent advances in the action camera market involve digital advancements and the Internet of Things. To increase the multimedia functionality of action camera solutions, manufacturers primarily focus on adding IoT services, such as cloud computing, on considering consumer brand loyalty and behavior. With such advanced functionality, the action camera market share is anticipated to have promising growth throughout the forecast period.
The global action camera market is classified based on end-user, technology, distribution channel, and region.
Segmentation based on end-user includes the professional and personal end users.
The professional user segment is estimated to advance at a CAGR of 8% and will hold the largest market share. Professional action camera end-users are photographers and vloggers who live-stream action and adventure sports. Over the past years, there is witnessed a substantial surge in the acceptance of extreme sports as a professional vocation, either as a coach or a player. Moreover, with added capabilities such as water resistance and damage control, these cameras are chosen over conventional cameras, and professional users' desire for action cameras continues to rise. In addition to exclusive videos, many cameras now include the ability to live stream events by connecting to a Wi-Fi system. This attracts many young users who wish to participate in live-action from their locations, and as a result, professionals prefer innovative cameras for live telecasting events.
The personal user segment will hold the second-largest share. Personal users of action cameras are individuals who enjoy shooting videos while traveling and capturing memories to revisit them afterward. Personal users include a circle of friends, a family, a small excursion, a solo traveler, an individual scuba diver, and anyone shooting or photographing for personal use. Families, groups, and friends like adventure holiday activities; consequently, this client segment's need for action cameras is increasing. One of the aspects driving the action camera market growth is the accessibility of ultra-HD and HD cameras at reasonable prices.
Segmentation based on technology includes standard definition (SD), high-definition (HD), and Ultra-high-definition (UHD).
The ultra-high-definition segment is anticipated to grow at a CAGR of 12.2% and hold the largest market share. Using the 4096 x 2160 option, 4K/Ultra-HD resolution is most widely employed in commercial digital cinema, where many films are shot or completed in 4K via upscaling from 2K. The primary reason for the widespread use of Ultra-HD technology is that it produces images with significantly more detail and fewer visible pixels than 1080p. 1080p technology looks excellent up to roughly 65 inches. It can still look nice on larger screens, but ultra-HD technology can produce even better-looking images as screen sizes grow. The increased availability of ultra-HD cameras provides a vastly enhanced video display image for bigger screen applications for consumers while reducing viewers' capacity to discern visible pixel structure on screens.
The high-definition segment will hold the second-largest share. The resolution is either 720 or 1080 pixels in pixel height. The screen is more detailed than a standard definition image but less detailed than a 4K image. HD resolution starts at 720p. HD resolution is also referred to as HD ready or HD resolution quality standard. As the market for action cameras has evolved, HD cameras have become the most popular. Standard definition technology is outdated and is therefore not favored by many users, while ultra-HD technology is unaffordable for most users; as a result, HD technology cameras are the most popular among users.
Segmentation based on distribution channels includes brand outlets, supermarkets/hypermarkets, e-commerce, and specialty stores.
The brand outlets segment is expected to grow at a CAGR of 7.6% and hold the largest market share. Brand outlets are company-owned outlets where producers offer their products directly to consumers. The brand outlets sector of the action camera market is primarily driven by the rise in the number of affluent consumers in both developed and developing economies. In addition, the increase in demand for branded premium cameras with enhanced after-sales services is anticipated to create growth prospects for the brand outlet category.
The e-commerce segment will hold the second-largest share. Increased penetration of various internet portals in emerging regions and a rise in promotions or discounts entice consumers to acquire action cameras via online channels. In addition, expanding online sales channels to more consumers has resulted in the emergence of the internet as a crucial revenue source for many businesses. In addition, the online sales market is anticipated to rise due to the rapid expansion of internet and mobile user bases in emerging regions.
The region-wise segmentation of the global action camera market includes North America, Europe, Asia Pacific, and LAMEA.
The Asia Pacific and North America Will Dominate the Regional Market
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The Asia Pacific will likely grow at a CAGR of 13.7% and command the market with the largest share. The Asia-Pacific market has tremendous development potential for firms providing innovative and novel cameras. Increases in urbanization and the proportion of middle-class customers in developing markets have fostered the adoption of lifestyles centered on convenience, making action cameras more prevalent across all age groups. In addition, the growing popularity of scuba diving, mountain biking, cycling, paragliding, hiking, and swimming contributes to the market for action cameras. Due to a rise in people's interest in sports and travel, there has been an increase in demand for action cameras in this region during the past 2 - 3 years. Moreover, in developing economies such as India and China, trust, product quality, and safety are the most important factors when purchasing an action camera.
North America is expected to grow at a CAGR of 5.5% and hold USD 1,017 million. The growth of the North American market for action cameras is primarily driven by an increase in population and an improvement in lifestyle. Increased purchasing power in this region significantly increases the demand for innovative products and ultra-HD technology cameras. Moreover, new and compactly designed products have grown in popularity in this region due to their benefits. This consequently contributes to the expansion of the North American action camera market.
Regarding macroeconomic considerations, the US is the world's largest economy in terms of GDP, and its businesses are more flexible than those in Western Europe. Additionally, this region has a greater prevalence of consumer items. In addition, significant expenditures on premium-grade consumer products can be ascribed to a high per capita income and the continued popularity of extreme sports. Thus, boosting the market for action cameras.
List of key action camera market manufacturers profiled