Action Camera Market value predicted to grow to USD 7.64 billion by the end of 2023
Action Camera Market Overview:
Action cameras are specialized devices that are used to capture sports, adventures or types of activities that normally involve rhythmic actions. Unlike conventional cameras, these cameras are simple, robust and can be mounted on helmets, car dashboards, cycles, or can be carried on the body to capture videos or real-life images. The small size and excellent “point of view” of the action cameras have made them immensely popular with sports fans and occasional users who want to capture their adventures and share them on social media platforms. Also, being small and easy to use, the action cameras are also useful when working in irregular conditions, in adverse weather conditions and underwater excursions, due to its waterproof nature and its specialized design.
Action Camera Market Size:
Global Action Camera Market is expected to reach approximately USD 7.64 billion by the end of 2023 with 13.87% CAGR during the forecast period 2017-2023.
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Drivers and Restraints:
The main factors behind the global action camera market are the growing popularity and user base of social networks such as Facebook, Twitter, and Instagram with the tendency to share photos and videos with subscribers and friends. Due to the entry of several camera manufacturers into action cameras, consumers can now choose from a series of options with features tailored to their needs. Intense competition has also led to price declines to some extent, attracting consumers to cost-sensitive regions. One of the most popular trends in the global market is the growing popularity of packaged product sets, where the cameras are sold with the necessary accessories. Being profitable, these packages are very popular with consumers and have indirectly stimulated sales of accessories and action cameras. However, the market should be limited to some extent by the growing popularity of smartphones equipped with high-end cameras. The lower prices for smartphones with high quality cameras should also limit the growth of the global action camera market to some extent.
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Action Camera Market Geographical Segmentation:
From a geographical point of view, the global action camera market is examined for the Asia-Pacific, Europe, North America and the rest of the world. North America is currently the largest regional market in the global market. The large population of sports enthusiasts, the easy access to a very expensive connection and the availability of new cutting-edge products are the key factors that have allowed North America to become the largest regional market for action cameras. However, the market is also experiencing greater demand in the developing regions of the Asia-Pacific region. Among the main factors behind this trend is increase in disposable income in developing countries, and the increase in spending on recreation, sports and adventure, along with the popularity of social networks.
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Action Camera Market Major Companies:
Drift, Garmin, GoPro, – iON, Rollei, Sony, BRAUN PHOTO TECHNIK, Brinno, Chilli Technology, Delkin Devices, EyeSee360, Geonaute, Hitachi, iSAW, Liquid Image, Mobius ActionCam, Panasonic, PAPAGO, Pyle Audio, Toshiba, VIOFO, VIEVU, and XSories are the major players of the market.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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