Global Action Camera Market to Hit Valuation of USD 8,600.3 Million By 2032, at 15.06% CAGR: Astute Analytica
The action camera market enjoys robust growth driven by the popularity of adventure activities and demand for immersive content. Advancements in image stabilization, 360-degree capabilities, and live streaming fuel innovation. While affordability increases, consumers still value offline distributors for product authenticity, personalized service, and immediate availability, even as online channels compete.
New Delhi, April 16, 2024 (GLOBE NEWSWIRE) -- The global action camera market was valued at US$ 2,433.3 million in 2023 and is projected to surpass the valuation of US$ 8,600.3 million by 2032, at a CAGR of 15.06% during the forecast period 2024–2032.
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While the traditional camera faces challenges (shipments dropped 9% in 2022, with CIPA predicting a further 6.1% decline in 2023), the action camera market tells a different story. There were over 8 million units of digital cameras shipped worldwide in 2022, a drop of 9% compared to 2021. CIPA predicts that the total digital camera shipment will drop by 6.1% near the end of 2023. Total shipment for built-in lens cameras went down by 15.8% in 2021, with a total of a bit over 3 million shipped units. According to CIPA, the total number of interchangeable lenses shipped was more than 9.5 million units in 2022. China is the top exporter of video cameras with 101,428 shipments, followed by Japan with 45,427 and Vietnam with 25,976 shipments.
Action cameras are typically compact, rugged, and waterproof at the surface levelConsumers drawn to their compact and rugged nature are fueling this growth. Action cameras are small enough to fit in a pocket, yet are waterproof, shockproof, and ready to handle extreme environments. This isn't just about capturing the chaos of the moment. Modern action cameras deliver stunning visuals. 4K video at 60 frames per second is becoming a standard feature, ensuring smooth footage. Specialized features like slow-motion recording at high frame rates (120fps, 240fps) and high-resolution still image capture (up to 20 megapixels) open up a world of creative possibilities. Wide-angle fisheye lenses give that thrilling "in the action" perspective.
Action cameras are truly versatile tools. Many models boast significant waterproofing (depths of 5-30 meters without extra housing), making them suitable even for watersports. Accessories and mounts expand their uses, letting you record from your bike helmet, the dashboard of your car, or almost anywhere else you'd like dynamic footage. This open uses like dash cams, documenting adventures, and creating unique time-lapse videos.
The global action camera market landscape is exciting. GoPro remains a dominant force, but competitors keep innovating. Understanding the trends, key players, and the evolving technological landscape is crucial for anyone wanting to successfully enter this vibrant sector.
*Key Findings in Global Action Camera Market *
Market Forecast (2032) US$ 8,600.3 Million
CAGR 15.06%
Largest Region (2023) Europe (32%)
By Type Professional (73.7%)
By Application Security (47.3%)
By Sales Channel Offline (83.6%)
Top Trends · Demand for 360-degree action cameras capturing immersive footage
· Integration of advanced image stabilization for smoother visuals
· Growing popularity of live streaming capabilities
Top Drivers · Rising popularity of adventure sports and outdoor activities
· Increasing demand for user-generated and immersive content
· Advancements in camera technology and falling prices
Top Challenges · Competition from high-end smartphone cameras
· Concerns over product authenticity and online purchasing
· Need for differentiation in an increasingly crowded market
*Challenges Faced by Action Camera Manufacturers*
The manufacturing industry in the action camera market has been significantly impacted by supply chain challenges in recent years. Factors like the pandemic, shipping delays for components (many of which are produced offshore), and domestic production struggling to keep up have all contributed to major supply chain disruptions for action camera makers. This has made it difficult for manufacturers to secure the parts and materials needed to assemble their products. When goods and raw materials are hard to acquire due to supply chain issues, they become more expensive. Many action camera manufacturers are still reeling from the impact of increased component costs, especially for key parts like sensors. The limited availability of these critical components is also a major challenge that can slow down or halt production.
To stay competitive, manufacturers in the global action camera market need to continuously innovate and incorporate the latest technologies into their products. This includes advancements like artificial intelligence, virtual reality, miniaturization of sensors, and enhanced camera features. However, the rapid pace of technological change makes it challenging and expensive for companies to keep their offerings up-to-date. Failing to do so is a major business risk.
*Professional Type to Continue Dominating the Global Action Camera Market, Controls Over 73.7% Market Share*
Action cameras market find widespread use in professional domains due to their ability to provide exceptional vantage points. Their compact dimensions and robust construction permit placement in locations inaccessible to traditional cameras. This translates to immersive views in sports coverage, offering a dynamic "in the moment" feel, or the intimate first-person perspectives often employed in documentary filmmaking. Engineered for durability, action cameras thrive in demanding environments where the use of conventional cameras would be impractical or fraught with risk of damage. Their resilience and adaptability render them invaluable companions for professionals capturing high-quality imagery during extreme sports coverage, outdoor expeditions, and other high-action scenarios in the action camera market.
The burgeoning popularity of adventure sports and outdoor pursuits fuels the demand for action cameras. Professionals and enthusiasts alike require the means to document exhilarating experiences hands-free, with high-definition results. Action cameras cater specifically to this need. In line with this, media entities and content creators continuously seek captivating and immersive visual narratives to engage their audiences. Action cameras unlock unique storytelling avenues through creative mounting options and first-person perspectives that resonate strongly with viewers.
The steady improvement in action camera market technology is pivotal to their professional adoption. Advancements in image stabilization, higher resolutions, enhanced low-light capabilities, and live streaming functionalities expand their utility. As this technology matures, action cameras become more affordable compared to traditional professional camera setups, encouraging broader usage among videographers, content producers, and various institutions.
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*Consumers are Still Hesitant to Buy Action Cameras from E-commerce, Offline Segment Generate Over 83.6% Market Revenue *
Even with the convenience of online shopping, many consumers remain hesitant to purchase action cameras through these channels. A key concern is trust and authenticity. The fear of receiving counterfeit or substandard products is particularly heightened when considering higher-priced items like action cameras. Studies indicate this worry, with 29% of consumers expressing willingness to follow a brand on Facebook but only 20% likely to complete a purchase on the platform. This highlights the desire for reassurance, which authorized offline distributors often provide, ensuring a genuine product with a valid warranty. Additionally, action cameras are feature-rich devices. Many consumers in the global action camera market prefer to physically interact with them before committing to a purchase. This aligns with trends showing that 90% of consumers use multiple devices for everyday tasks, including 40% who conduct online research prior to buying. Wanting to handle a camera, test its features, and receive in-person advice from knowledgeable staff, remains a strong pull towards a physical store.
Offline distributors frequently offer a level of personalized support that's harder to replicate online. Their sales personnel provide tailored recommendations based on a customer's specific needs, something many consumers find valuable. Research confirms this, with the helpfulness of in-store staff being a major influence on the "webrooming" phenomenon, where online research is followed by an offline purchase. Immediate gratification is another factor driving offline action camera purchases. Brick-and-mortar remains the most popular retail channel, and the ability to walk out of a store with the camera in-hand is alluring. Offline distributors may also offer a broader selection of accessories and mounts, adding immediate value to the in-person purchase experience.
*Europe is Poised to Continue Leading the Global Action Camera Market, Control Over 32% Market Share *
One ongoing driver of action camera demand in Europe is the region's strong outdoor and adventure sports culture. Many European countries have a deep-rooted passion for activities like skiing, snowboarding, mountain biking, climbing, and water sports, which often involve using action cameras to capture and share experiences. This is particularly evident in markets like Germany, France, Italy, and the Nordic countries, where participation in outdoor pursuits remains high. Europe's generally high levels of disposable income also continue to support the action camera market. Despite some economic challenges in recent years, many European consumers still have significant purchasing power for discretionary items like action cameras. This is especially true in wealthier nations like Switzerland, Norway, and Denmark, where premium brands have a strong presence.
The influence of social media and content creation on action camera adoption has only intensified in recent years. Platforms like Instagram, TikTok, and YouTube have seen explosive growth in Europe, with users increasingly interested in creating and sharing dynamic video content. Action cameras are often the tool of choice for capturing engaging first-person perspectives and immersive footage. The rise of short-form video has further boosted demand for compact, high-quality cameras.
Consumers in the European action camera market have also shown a growing interest in more advanced and specialized action camera features. This includes things like 360-degree video, 5.3K resolution, enhanced image stabilization, live streaming capabilities, and accessories for specific use cases. Action camera brands that offer these cutting-edge features and cater to niche segments have been gaining traction in the European market.
While Europe remains a key hub for action camera sales, the market has become increasingly competitive. Major brands like GoPro and DJI continue to dominate, but there are also many emerging players vying for market share. This includes both European startups and Chinese manufacturers offering feature-rich cameras at aggressive price points. Looking ahead, the European action camera market is expected to continue evolving and growing. Key trends to watch include the integration of artificial intelligence and computer vision technologies, the rise of wearable and immersive camera formats, and a growing emphasis on connectivity and cloud-based services. As consumers seek ever more innovative and convenient ways to capture and share their experiences, the action camera industry in Europe is poised for further growth and transformation.
*Global Action Camera Market Key Players*
· GoPro
· Garmin
· Sony
· Panasonic
· Contour
· Polaroid
· Amkov
· Drift Innovation
· RICOH
· SJCAM
· DJI
· AKASO
· Other Prominent Players
*Key Segmentation:*
*By Type*
· Consumer (Outdoor Pursuits and Evidential Users)
· Professional (TV Shipments, Emergency Services and Security)
*By Application*
· Outdoor Pursuits
· Evidential Users
· TV Shipments
· Emergency Services
· Security
*By Sales Channel*
· Online
· Offline
*By Region*
· North America
· Europe
· Asia Pacific
· Middle East & Africa (MEA)
· South America
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*About Astute Analytica*
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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CONTACT: Vipin Singh
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/