Action Camera Market to Surpass at a Revenue of US$ 7,623.4 Million By 2031 | Astute Analytica
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/action-camera-market
The action camera market has established a sizable niche in the global electronics industry, driven mostly by technological advancements, consumer demand, and social media trends. Action camera demand appears to be on a strong, rising trajectory in the future. The current driving forces are technological developments like 4K and 8K video capabilities, better stabilization, and longer battery life.
The development of technology has altered the nature of the global action camera market. The invention and acceptance of 360-degree recording are two notable factors pushing the envelope. Customers are eager to adopt immersive experiences, as evidenced by the 28% rise in 360-degree action camera sales in 2021 over the prior year. On the consumer side, 360-degree videos are now supported by platforms like YouTube and Facebook, with over 1.5 million of these videos being produced each month a 200% increase from two years ago. According to studies, 360-degree videos have a 46% greater rate of engagement and 30% longer average view time than conventional videos.
The growing demand for eco-consciousness among consumers is offering lucrative opportunities for market growth. For instance, in 2022, Around 20% of consumers worldwide said they would prefer to purchase from companies that are mindful of their environmental impact. Due to the increased demand, producers are now also producing action cameras using environmentally friendly production techniques. For instance, GoPro declared its intention to cut the amount of plastic used in its product packaging by 40% by 2024. In the past year, sales of these "green" action cameras have increased by 12%. Long-term cost savings from eco-friendly production are also being reported, with businesses reporting a 10% drop in production costs when using recycled materials.
𝐀𝐜𝐭𝐢𝐨𝐧 𝐂𝐚𝐦𝐞𝐫𝐚𝐬 𝐚𝐫𝐞 𝐌𝐚𝐣𝐨𝐫𝐥𝐲 𝐔𝐬𝐞𝐝 𝐟𝐨𝐫 𝐎𝐮𝐭𝐝𝐨𝐨𝐫 𝐀𝐜𝐭𝐢𝐯𝐢𝐭𝐢𝐞𝐬
Due to their capacity to record anything from the tranquility of hiking trails to the intensity of white-water rafting, outdoor activities dominate the worldwide action camera industry. In 2022, it had a sizable 37.5% market share, demonstrating its importance.
The rising number of sports fans and adventurers, as well as the rising popularity of sporting events, outdoor adventures, and active lifestyle pursuits like trekking, mountain racing, and ice skating, are contributing to the market's expansion on a national and regional basis. For instance, adventure sports fans, who account for about 35% of all users, are the foundation of the action camera market. The first-person perspective offered to viewers by action camera footage is a feature of the gadgets' design.
Additionally, the market is growing as a result of the rising use of social media platforms for live video and photo sharing as well as other promotional and marketing initiatives. Developing nations like India and China are noticing a rise in the use of social media by citizens.
𝐄𝐮𝐫𝐨𝐩𝐞 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐟𝐨𝐫 𝐀𝐛𝐨𝐮𝐭 𝟑𝟐% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
With a 32% market share, Europe takes the lead in the global action camera market. The rise in outdoor activities, the dominance of the technology industry, and the increasing spending power of consumers are all contributing factors to this substantial expansion.
Europe's dominant position in the action camera market can be due to its varied topography, rich cultural heritage, and long history. The area is popular with tourists and thrill-seekers alike. As a result, there is a growth in demand for action cameras, which are designed to capture these events in a durable and high-quality manner.
The dominance of Europe in the technological sector has been a key factor for the market growth. There are early adopters, tech aficionados, and a sizable number of tech conferences, expos, and fairs in many of Europe's countries. This nexus of technological advancement and a strong desire to record events has fueled Europe's dominance.
Consumer spending power in Europe, particularly in Western and Northern European nations, is a significant driver of demand. For instance, in 2022, Ireland and Luxembourg both had the highest GDP per capita in the EU. In 2022, Europe's average per-capita purchasing power will be €16,344 (or US$ 17,414).
The emphasis on tourism in the area, this expanding demographic, and the rising number of tech-literate young people are all paving the way for a potential boom in the years to come.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/action-camera-market
𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞
𝐒𝐞𝐯𝐞𝐫𝐚𝐥 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐜𝐨𝐦𝐦𝐚𝐧𝐝 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐚𝐜𝐭𝐢𝐨𝐧 𝐜𝐚𝐦𝐞𝐫𝐚 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐢𝐭𝐡 𝐆𝐨𝐏𝐫𝐨, 𝐒𝐨𝐧𝐲, 𝐃𝐉𝐈, 𝐚𝐧𝐝 𝐆𝐚𝐫𝐦𝐢𝐧 𝐥𝐞𝐚𝐝𝐢𝐧𝐠 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭.
• GoPro continues to be at the top. Industry standards are established by its Hero series, particularly the HERO9 Black.
• With the FDR-X3000 in particular, Sony isn't far behind with cutting-edge features that compete with GoPro.
• Despite being known for its drones, DJI also unveiled the Osmo Action camera as a rival.
• The VIRB series from Garmin has gained popularity, especially among consumers interested in sophisticated data.
𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐓𝐨𝐩 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐚𝐫𝐞:
• GoPro
• Garmin
• Sony
• Panasonic
• Contour
• Polaroid
• Amkov
• Drift Innovation
• RICOH
• SJCAM
• DJI
• AKASO
• Other Prominent Players
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐚𝐜𝐭𝐢𝐨𝐧 𝐜𝐚𝐦𝐞𝐫𝐚 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐓𝐲𝐩𝐞, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐒𝐚𝐥𝐞𝐬 𝐂𝐡𝐚𝐧𝐧𝐞𝐥, 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧.
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
o The U.S.
o Canada
o Mexico
• Europe
• 𝐖𝐞𝐬𝐭𝐞𝐫𝐧 𝐄𝐮𝐫𝐨𝐩𝐞
The UK
Germany
France
Italy
Spain
𝐨 𝐑𝐞𝐬𝐭 𝐨𝐟 𝐖𝐞𝐬𝐭𝐞𝐫𝐧 𝐄𝐮𝐫𝐨𝐩𝐞
• Eastern Europe
Poland
Russia
𝐨 𝐑𝐞𝐬𝐭 𝐨𝐟 𝐄𝐚𝐬𝐭𝐞𝐫𝐧 𝐄𝐮𝐫𝐨𝐩𝐞
• Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o South Korea
o ASEAN
o Rest of Asia Pacific
• 𝐌𝐢𝐝𝐝𝐥𝐞 𝐄𝐚𝐬𝐭 & 𝐀𝐟𝐫𝐢𝐜𝐚 (𝐌𝐄𝐀)
o Saudi Arabia
o South Africa
o UAE
𝐨 𝐑𝐞𝐬𝐭 𝐨𝐟 𝐌𝐄𝐀
• South America
o Argentina
o Brazil
𝐨 𝐑𝐞𝐬𝐭 𝐨𝐟 𝐒𝐨𝐮𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/action-camera-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
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Astute Analytica
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