Action Camera Market Analysis

Action Camera Market Analysis

The U.S. ultra-HD market is projected to showcase 15% growth rate through 2026 owing to the rising demand for cameras in recreational activities. According to the Diving Equipment and Marketing Association (DEMA) statistics, there were around 2.5 to 3.5 million active scuba divers in the U.S. and around six million active scuba divers globally as of 2019. Travelers participating in scuba diving and snorkeling contribute about USD 904 million to the Florida economy every year. The U.S. market will observe steady growth. The growth is credited to the rising number of tourists and regular divers undertaking underwater sports & recreational activities to click pictures of rare species and the seabed.

The personal applications dominated more than 60% of the market share in 2019 and is predicted to expand at 13% CAGR till 2026. The growth is attributed to the rapid surge in the adoption of social media platforms by the younger generation. As stated by Cisco Systems, Inc. by 2021, social networking will account for 22% of traffic within data centers. With popular social media influencers uploading high-resolution content to attract large audience base, the demand for HD action cameras will experience growth. The portability and compactness of action cameras enable them to be carried anywhere with convenience and ease. These lightweight and sturdy cameras facilitate hassle-free travel and provide high-quality images, enabling social media platform users to shoot and upload clear & sharp images.

The UAE market is estimated to attain a CAGR of 12% by 2026 due to the rising trend of online retailing. The strong retail industry expansion in the UAE coupled with the advent of digitalization has boosted the e-commerce sector. According to the country’s Telecommunication Regulatory Authority, three million people have subscribed to internet services as of August 2019. The high internet penetration rates have driven the online sales of the camera market. The availability of a wide range of cameras on authorized retailer websites, such as Amazon.com and eBay, enables customers to choose the right camera as per preferences. It also ensures product quality and on-time delivery service.
 

International sports events, such as FIFA World Cup, Wimbledon Tennis, and Commonwealth Games, attract global audiences. Such events will foster the market progression as event organizers use high-quality cameras for capturing live videos for international tournaments. The rising popularity of underwater sports activities will also propel the industry demand. In APAC, Taiwan offers diving opportunities with its diverse array of corals & fish species and the establishment of three marine parks. Similarly, the Great Barrier Reef in Australia also attracts divers from around the globe. Waterproof compact action cameras help users capture sharp and clear images of underwater creatures.
 

Latin America action camera market is slated to register growth of 12% during 2020 to 2026. Cultural events, festivals, and carnivals form an integral part of the Latin American society. The events host regional and international visitors every year. Carnival of Pasto Colombia, The Carnival, Brazil, Fiesta de la Virgen de la Candelaria, and Dia de Los Muertos are amongst the most popular events & festivals in the region, attended by large local & global audiences. The market demand for action cameras that enable the capturing of these events live is being registered. Sharp images and videos captured during these festivals are posted on several websites to enhance awareness about the region’s cultural diversity internationally.