Action camera & accessories find their application across multiple industries, including sports, travel & tourism, recreational activities, entertainment & media, automotive, and emergency services. The increasing popularity of adventure tourism and sports across various countries with a high number of tourist arrivals creates several opportunities for market growth.
In its latest publication on the action camera & accessories market, Meticulous Researchstates that the market will increase at a CAGR of 13.5% from 2020 to 2027 to reach $6.58 billion by 2027. In terms of volume, the action cameras market is estimated to grow at a CAGR of 12.1% from 2020 to 2027 to reach 29.9 million units by 2027 from 13.4 million units in 2020.
The growth of the action camera & accessories market is mainly attributed to the growing adoption of innovative & advanced cameras by the young consumer segment to capture high-quality images & videos. Action cameras are also gaining popularity among automotive applications for replacing dashboard cameras in cars & commercial vehicles. These cameras can be placed on rear-view mirrors to get a wide view of the car front to ensure vehicle & passenger safety and avoid accidents. Companies in the action camera & accessories market are developing products with MicroUSB port for charging as these are also available in cars to offer uninterrupted video recording. Some action cameras are also offered with dashcam mode that automatically start & stop recording when the engine starts & stops.
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Scope of the Report
Action Camera & Accessories Market, by Product Offering
Action Camera & Accessories Market, by Technology
Action Camera & Accessories Market, by Frame Rate
Action Camera & Accessories Market, by Distribution Channel
Action Camera & Accessories Market, by End User
Action Camera & Accessories Market, by Application
Action Camera & Accessories Market, by Geography
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To provide efficient analysis, Meticulous Research has segmented this market based on product offering (action camera, action camera accessories [batteries, mounts, mods, protectors, and other accessories]), technology (full HD, ultra HD, SD), frame rate (31-60 fps, 15-30 fps, 61-120 fps, 121 to 240 fps), distribution channel (online, offline), end user (personal, professional), application (sports, travel & tourism, recreational activities, entertainment & media, automotive, emergency services, and other applications), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Based on product offering, the action camera & accessories market is segmented into action cameras and accessories. The action cameras segment is expected to command the largest share of the overall action camera & accessories market in terms of revenue and volume in 2020. This segment’s large share is mainly attributed to the increasing adoption of sports & tourism cameras by travel bloggers and sports participants. The rising trends of travel blogging and online content creation to influence people through social media is expected to drive the demand for action cameras. The company strategies of new product launches and innovations in the existing cameras with advanced technologies to offer easy handling & editing is a major factor for gaining consumer attraction.
By application, the action camera & accessories market comprises sports, travel & tourism, recreational activities, entertainment & media, automotive, emergency services, and other applications. The adoption of 360-degree and action cameras in the entertainment & media industry, majorly for recording live performances, supports market growth.
Geographic Review
Geographically, North America is expected to command the largest share in revenue and volume in this market, followed by Europe and Asia-Pacific. The Middle East & Africa and Latin America are also witnessing considerable market growth. North America’s major share is mainly attributed to the presence of key players in the region and the high demand for digital cameras in various application industries. Furthermore, the high adoption of internet-based content creation and blogging trends in the U.S. due to the presence of a technically aware population is a factor for the market growth.
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Key Players:
The report also provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market, including GoPro, Inc. (U.S.), Sony Corporation (Japan), Insta360 (Arashi Vision Inc.) (China), SJCAM (China), JVCKENWOOD Corporation (Japan), TomTom International BV (Netherlands), Garmin Ltd. (U.S.), SZ DJI Technology Co., Ltd. (China), Drift Innovation (U.K.), YI Technology (China), Eastman Kodak Company (U.S.), Nikon Corporation (Japan), Rollie (Germany), Panasonic Corporation (Japan), and Xiaomi (China).
The key players in the market focus on organic and inorganic growth strategies to strengthen their position in the action camera & accessories market. The companies adopt collaborations and strategic partnerships to offer an innovative portfolio to cater to a wide application area. The key market players emphasize mergers and acquisitions to widen their product portfolio and increase consumer base. New product launches with innovative features are also a major strategy that highly impacts market growth. For instance, in November 2020, Insta 360 launched ONE X enterprise edition camera for enterprise customers. ONE-X is designed to capture virtual tours and enterprise content.
The report also covers the impact of COVID-19 on the action camera & accessories market. The market is witnessing a sudden dip due to the lockdown imposed leading to disruptions in manufacturing, travel & tourism, sports & entertainment & media sectors. However, the market is expected to gain traction by 2021 with the restart of travel & tourism, and sports activities in several countries and increased viewership for travel bloggers.
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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