Action Camera Market worth over $5.5 Bn by 2026
Published Date: November 4, 2020 Authors: Preeti Wadhwani, Saloni Gankar
Action Camera Market size is set to surpass USD 5.5 billion by 2026, according to a new research report by Global Market Insights, Inc.
An increasing global demand for robust action cameras from snorkelers and scuba divers . These cameras enable capturing of sharp & crisp images of rare species and are used for subsurface observations. Scuba divers use high-quality cameras to capture images of seabeds and the underwater ecosystem. As these cameras are compact and rugged, they can be conveniently used in deep oceans without significant drag issues caused by bulkier cameras.
The integration of Artificial Intelligence (AI) into cameras will fuel the action camera market growth. From landscapes to portraits, AI-powered smart features enable action cameras to optimize photographs with accuracy and create enhanced images. AI automates crucial camera positions around a field of play, facilitating live sports productions to gain extra camera coverage at lower operational costs.
The ongoing coronavirus (COVID-19) pandemic has negatively impacted the action camera market due to a halt in the overall research and manufacturing activities, following stringent lockdowns imposed during the first quarter of 2020. However, with economic conditions regaining stability and resumption of industrial activities, the market will experience growth. The tourism sector was amongst the worst-hit sectors owing to restrictions imposed on travel declining the market demand for action cameras from international travelers.
Full HD cameras that ensure crisp, clear, and smudge-free images are observing high demand
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The full HD action camera market is expected to show a reasonable growth of 10% till 2026. While covering the same field of view as an SD camera, an HD camera provides a more detailed image. Similarly, a single HD camera covers a larger scene than an SD camera at a comparable resolution. As wildlife, landscape, architecture, and studio photography requires high-resolution cameras, an increasing market revenue for digital cameras that ensure sharp & crisp images.
Offline distribution channel to retain a prominent market share as consumers prefer to buy cameras from retail stores to ensure quality and combat the risk of counterfeit products
Despite the sharp rise in online retailing in recent years, several consumers still prefer buying gadgets from offline stores to ensure product reliability and quality. Specialty stores focusing solely on cameras help consumers to buy products that perfectly suit their requirements. They offer personalized services through sales staff, enabling consumers to assess a wide range of cameras. Products sold at proprietary stores also eliminate the risk of fraudulent or duplicate products sold through online retailers, thereby ensuring product durability and reliability. The rising cases of counterfeit products sold through online distribution channels in recent years will encourage consumers to buy high-quality cameras from malls, hypermarkets, or specialty stores.
Browse key industry insights spread across 320 pages with 468 market data tables and 27 figures & charts from the report, “Action Camera Market Size By Technology (Full HD, Ultra HD, HD & SD), By Distribution Channel (Online, Offline), By End-Use (Personal, Professional), By Application (Sports, Recreational Activities, Emergency Services), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Use of action cameras for wildlife research by professionals will boost the action camera market value
Wildlife photography for research requires robust and rugged action cameras that can be deployed in harsh forest conditions. High-quality crisp images are crucial for researchers to ensure the accurate study of tiny creatures and other habitats. The growing trend of camera trapping to study wildlife in dense forests will also augment the market size. These cameras are controlled remotely and installed in core forest areas to capture images of animals during nighttime without the physical presence of the photographer. This has helped researchers document the occurrence of species and photograph nocturnal & cryptic animals.
Adoption of mounted or wearable action cameras by responders for emergency services
Emergency services accounted for 20% of the action camera market share in 2019. The market is witnessing a demand for body cameras from the police force and emergency responders globally to capture suspicious images and videos that can be watched later to identify criminals, thieves, or law violators. Action cameras enable the capturing of sharp images even when an object is in motion. They can be mounted on vehicles to capture pictures in crowded places.
Stable economic conditions, a strong tourism sector, and rise of sports activities will drive the Europe action camera market
European countries host several international sports events with football being one of the most famous sports in the region. For instance, MIC Football Tournament attracts large global audiences and is held in Spain. Such events will encourage audience to buy robust action cameras to capture videos and images in high definition. Spain is one of the most famous tourist destinations in Europe, attracting several visitors for underwater sports activities such as scuba diving. A rise in underwater sports will support the industry growth as divers use these cameras to capture subsurface images.
Integration of advanced technologies in cameras to enhance product portfolio is a key strategy amongst key market players
Companies operating in the action camera market include Garmin Ltd., Sony Corporation, GoPro, Inc., Olympus Corporation, TomTom N.V., Nikon Corporation, Panasonic Corporation, YI Technology, and SZ DJI Technology Co., Ltd. In May 2020, Sony Corporation launched camera sensors with inbuilt AI. The sensors can extract intelligent metadata and process captured images at high-speeds and intelligent vision sensors can be paired with cloud services. Such initiatives will encourage competitors to incorporate the latest technologies into cameras to launch innovative solutions. R&D associated with digital cameras to enhance their functionalities will encourage manufacturers to develop high-quality products.
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