Action Camera Market Trend, Share, Growth, Size and Forecast 2030

Action Camera Industry Prospective:

The global action camera market size was worth around USD 3.2 billion in 2022 and is predicted to grow to around USD 6.1 billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.5% between 2023 and 2030.       

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Action Camera Market: Overview

A digital camera called an action camera is made specifically to capture action scenes while fully submerged in them. Action cameras can be installed on vehicles, motorbikes, surfboards, helmets, and other things to take high-definition, wide-angle pictures. It is typically employed to record sports, travel, or other events with fast-paced activity. Sports enthusiasts and casual users who want to record their adventures and post them on social media have found great popularity in action cameras because of their compact size and superior "point of view" function.

Key Insights

• As per the analysis shared by our research analyst, the global Action Camera market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2023-2030).
• In terms of revenue, the global Action Camera market size was valued at around USD 3.2 billion in 2022 and is projected to reach USD 6.1 billion, by 2030.
• The growing trend of social media is expected to propel the action camera market over the projected period.
• Based on the resolution, the Ultra HD segment is expected to grow at the fastest rate over the forecast period.
• Based on the distribution channel, the retail segment is expected to hold a substantial revenue share over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Action Camera Market: Growth Drivers

High-resolution features and technological advancements in modern action cameras drive market growth

Rapid advancements in camera technology, such as wide-angle, high-resolution, and more stable recently released action cameras, are what are driving strong unit sales. Businesses are creating new devices with characteristics like water resistance, wide-angle lenses, and 4K and 5K resolution to record more views at higher resolutions than those of traditional cameras. Action cameras with water-resistance technology may record views underwater, preventing camera failures. In the boating, scuba diving, undersea diving, and other water-based application categories, these attributes help manufacturers capture market share.

For instance, in September 2023, with the release of its new HERO12 Black camera, GoPro raised the standard once more for its renowned line of compact, tough, and incredibly flexible cameras. With an MSRP of $399.99, GoPro's latest flagship camera builds on the revolutionary performance of its predecessor, enabling up to two times longer runtimes with a redesigned power management system, stunning high dynamic range (HDR) video in industry-leading 5.3K and 4K resolution video, support for Bluetooth® audio devices, including Apple AirPods, and enhanced HyperSmooth 6.0 video stabilization, among many other potent new camera features aimed at catering to beginners as well as professionals.

Action Camera Market: Restraints

Rising competition among vendors hamper market growth

The profit margins of sellers of action cameras are declining. The primary reason for this is the rise in raw material prices. Numerous new vendors have joined the market as a result of the strong market potential. Suppliers are concentrating on creating action cameras that are within the reach of the general public, particularly in developing nations. The income and sales potential of current suppliers are hampered by this. Furthermore, suppliers never stop adding new features to their products to draw in clients and set themselves apart.

For instance, SJCAM updated the SJ4000X, a well-liked model, by adding waterproofing. Furthermore, the rising popularity of new suppliers has led to price wars that have compelled established suppliers to lower the cost of their goods, which has decreased their profit margins. Low reinvestments in the company result from this, which may force vendors to lower the quality of their products. Throughout the projection period, this will have a negative impact on market growth.

Action Camera Market: Opportunities

Growing innovative product launches by the market players provide a lucrative opportunity for the action camera market

The growing innovative product launches are expected to offer a lucrative opportunity for the action industry growth during the forecast period. For instance, in November 2023, as it works to weaken GoPro's two-decade hold on the market, Insta360 unveiled two action cameras with AI support, one of which was co-engineered with the German photography giant Leica. The blocky design of the Insta360 Ace and Insta360 Ace Pro is easily recognizable, and their color scheme is mostly black and red. It should come as no surprise that the Pro model, which has a huge 1/1.3" sensor, a 5nm AI chip, and a Leica SUMMARIT lens all crammed into a tiny 2.8" x 2.05" x 1.37" body, is the one that benefits from the brand's collaboration with Leica.

In addition to shooting in high-definition slow motion at 240 frames per second, users may select to record in pristine 8K (up to 24 frames per second). This feature is likely aimed at athletes and the company's action sports audience. In addition, the Pro model has super-fast PD charging, which the firm thinks will let users continue recording for as long as possible. It can reach 80% of the battery's capacity in around 22 minutes.

Action Camera Market: Challenges

High costs pose a major challenge to market growth

The primary factor impeding the growth of the action camera market is the high cost of these devices. Because of their small size and ability to function in challenging environments, action cameras are increasingly being used in adventure sports and other leisure activities. Around US$1,230 was spent on the Ricoh Theta Z1, a significant amount of money for the ordinary customer to spend on recreation.

Action Camera Market: Segmentation

The Global Action Camera industry is segmented based on the resolution, distribution channel, application, end-use, and region.

Based on the resolution, the global Action Camera market is bifurcated into HD, Full HD, Ultra HD, and Standard Resolution. The Ultra HD segment is expected to grow at the fastest rate over the forecast period as it provides the consumer with several benefits. For instance, UHD filming offers versatility in both high definition and normal definition. Demand is being driven mostly by sophisticated devices with UHD features being commercially accessible. The trend of consumers choosing to shoot in 4K/UHD rather than 1080p or 720p significantly fuels the segment's expansion.

Based on the distribution channel, the global Action Camera industry is categorized into Retail and Online. The retail segment is expected to hold a substantial revenue share over the forecast period as buyers would rather inspect the device and its characteristics in person. high levels of consumerism are prevalent in consumer trends. The increasing requirement for channel partners to optimize sales strategy demonstrates a significant influence on the enterprise. Retail businesses also have a high customer retention rate because they provide aftermarket service for an additional fee. Retail channels may also deal separately in both areas or provide a combination of accessories and cameras.

Based on the application, the global Action Camera market is divided into Recreational Activities, Sports, Emergency Services, and Others.

Based on the end-use, the global Action Camera industry is segmented into Professional and Personal.

Action Camera Market: Report Scope

Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the market during the forecast period due to the region's high level of disposable money and the growing appeal of adventure sports like skydiving, paragliding, and bungee jumping. Adventure sports media coverage is a growing sector in the United States because of the growing need for professional cameras with large storage capacities in the local market. Significant expenditures in research and development for the creation of improved versions are also helping in the regional expansion.

Moreover, the primary trend in the United States that has an impact on the regional market is the change in consumer behavior from digital to action cameras. Besides, Europe is expected to hold a significant market share over the forecast period. The growth in the region is attributable to the presence of major players along with growing innovative offerings.

Action Camera Market: Competitive Analysis

The global Action Camera market is dominated by players like:

• Olympus Corporation
• Nikon Corporation
• GoPro Inc.
• insta360
• Garmin Limited
• Rollei GmbH & Co. KG
• Drift Innovation
• Sony Corporation
• SZ DJI Technology Co. Limited
• Yi Technology
• TomTom NV and Veho

The global Action Camera market is segmented as follows:

By Resolution

• HD
• Full HD
• Ultra HD
• Standard Resolution

By Distribution Channel

• Retail
• Online

By Application

• Recreational Activities
• Sports
• Emergency Services
• Others

By End-use

• Professional
• Personal

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa