Action Cameras Market Reached USD 4.1 Billion in 2021 and is set to grow to USD 11.0 at a CAGR of 13.1% – openPR.com | Episode Movies

Action Cameras Market

Action Cameras Market

The action cameras market is valued at USD 4.1 billion in 2021, registering a double-digit CAGR of 13.1% during 2022-2029 and is expected to reach USD 11.0 billion in 2029 .

For additional insights, click to access the full report – https://www.gmiresearch.com/report/action-camera-market-analysis-industry-research/

Factors driving action camera market growth include rising internet penetration rates, rising sales of consumer electronics such as smartphones and tablets, availability of cheap data, and rise in consumption of video content worldwide. According to the report published by Statista, around 56% of the world’s population used social media platforms in 2021 and this share is expected to increase to 74% by the end of 2026 and reach 4.59 billion, which is the market share of action cameras will accelerate approaching years. Moreover, increasing youth participation in video content creation, rapid growth in tourism industry, integration of advanced technologies like augmented reality (AR), virtual reality (VR) and artificial intelligence (AI) with action cameras are some of the additional ones Factors complementing the size of the action camera market. Furthermore, the increasing R&D investments by leading players, growing importance of social media marketing, increasing disposable incomes and growing population growth rates further contribute to the market growth.

However, the growth of the action camera market is hampered by the high cost of sourcing action cameras.

The prominent players in the market include Sony Corporation, SJCAM, Rollei, GoPro, Inc., Nikon Corporation, Garmin Limited, TomTom International BV, Drift Innovation, OM Digital Solutions Corporation, and insta360.com, among others.

Based on the distribution channel, the online segment is forecast to expand at a significant CAGR over the forecast period

Online stores offer a wide range of camera products, offer attractive discount options and are open 24/7, along with the increasing trend of online shopping are some of the factors responsible for the growth of the segment

Based on the application, the Sports segment is forecast to grow at a remarkable CAGR over the forecast period

According to the Action Cameras Market Analysis, the global increase in sports tournaments such as cycling, skateboarding and skydiving is driving the growth of the segment.

Based on the region, the Asia Pacific region is expected to capture a sizeable market share during the forecast period

According to the action camera market forecast, the expansion of travel and tourism industry, increase in the number of sporting events in India, China and Japan, technological advances in action camera, rapid urbanization, rising per capita income and high population growth rates , are some of the important factors fueling the market growth in Asia Pacific.

key development

In 2020 at CES, Insta360 introduced the One R Convertible Action Camera, which is waterproof, supports voice commands, ties together with the included mounting base, and can be used as a standard action camera or as a 360-degree capture device.

market segmentation

Segmentation by resolution

Ultra HD
Full HD
Other

Segmentation by sales channel

On-line
retail trade

Segmentation by application

Sports
free time activities
emergency services
Other

Segmentation by region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
rest of Europe

The line
Brazil
South Africa
Saudi Arabia
UAE

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GMI Research is a market research and advisory firm providing market insights and information across 12 major sectors, helping our clients make effective investment and business decisions.

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This version was published on openPR.

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