Meticulous research has analyzed why the action cameras and accessories market is growing at a CAGR of 13.5% to reach $ 6.58 billion by 2027.
“The action cameras and accessories market is expected to grow at a CAGR of 13.5% from 2020 to 2027 to reach $ 6.58 billion by 2027 from $ 2.7 billion in 2020.”
Action cameras and accessories market by product offering (action camera, accessories), technology (Full HD, Ultra HD), frame rate (31-60, 61-120 fps), distribution channel ( Online, Offline), End User (Personal, Professional) and App (Sports, Travel & Tourism) – Global Forecast to 2027
Action camera and accessories find application in many industries including sports, travel and tourism, recreation, entertainment and media, automotive and emergency services. The growing popularity of adventure tourism and sports in various countries with high number of tourist arrivals creates several market growth opportunities.
In its latest post on the Action Camera and Accessories Market, Meticulous Research reports that the market will grow at a CAGR of 13.5% from 2020 to 2027 to reach $ 6.58 billion by 2027. In terms of volume, the action cameras market is expected to grow at a CAGR of 12.1% from 2020 to 2027 to reach 29.9 million units by 2027 from 13.4 million units in 2020.
The growth of the action cameras and accessories market is mainly attributed to the increasing adoption of innovative and advanced cameras by the young consumer segment to capture high quality images and videos. Action cameras are also gaining popularity among automotive applications to replace dashboard cameras in cars and commercial vehicles. These cameras can be placed on the rear view mirrors to get a wide view of the front of the car to ensure the safety of the vehicle and passengers and to prevent accidents. Companies in the action camera and accessory market are developing products with a MicroUSB port for charging, as they are also available in cars to provide uninterrupted video recording. Some action cameras also come with a dashcam mode that automatically starts and stops recording when the engine starts and stops.
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Scope of the report
Action Cameras and Accessories Market, By Product Offer
- Action cameras
- Accessories for action cameras
- Other accessories
Action Cameras and Accessories Market, By Technology
Action Cameras and Accessories Market, By Frame Rate
- 31-60 fps
- 15-30 fps
- 61-120 fps
- 121-240 fps
Action Cameras and Accessories Market, By Distribution Channel
Action Cameras and Accessories Market, By End User
Action Cameras and Accessories Market, By Application
- Travel and tourism
- Recreational activities
- Entertainment and media
- Emergency services
- Other applications
Action Cameras and Accessories Market, By Geography
- North America
- The rest of europe
- Asia-Pacific (APAC)
- South Korea
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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To provide effective analysis, Meticulous Research has segmented this market on the basis of product offering (Action Camera, Action Camera Accessories [batteries, mounts, mods, protectors, and other accessories]), technology (full HD, ultra HD, SD), frame rate (31-60 fps, 15-30 fps, 61-120 fps, 121 to 240 fps), distribution channel (online, offline), end user (personal, professional), application (sports, travel and tourism, recreation, entertainment and media, automotive, emergency services and other applications) and geography (North America, Europe, Asia-Pacific, Latin America, Middle -East and Africa).
On the basis of product offering, the action cameras and accessories market is segmented into action cameras and accessories. The action cameras segment is expected to hold the largest share of the global action cameras and accessories market in terms of revenue and volume in 2020. The significant share of this segment is mainly attributed to the growing adoption of cameras from sport and tourism by travel bloggers and sport participants. . Growing trends in travel blogging and creating online content to influence people through social media are expected to drive demand for action cameras. The company’s strategies of launching new products and innovations in existing cameras with advanced technologies to provide easy handling and mounting is a major factor in attracting consumers.
By Application, the action cameras and accessories market includes sports, travel and tourism, recreation, entertainment and media, automotive, emergency services, and other applications. The adoption of 360 degree and action cameras in the entertainment and media industry, mainly for recording live performance, is supporting the growth of the market.
Geographically, North America is expected to hold the largest share of revenue and volume in this market, followed by Europe and Asia-Pacific. The Middle East and Africa and Latin America are also experiencing considerable market growth. The largest share in North America is mainly attributed to the presence of key players in the region and the high demand for digital cameras in various application industries. In addition, the strong adoption of Internet content creation and blogging trends in the United States due to the presence of a technically savvy population is a factor in the growth of the market.
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The report also provides competitive insights in terms of finance, growth strategies, product portfolios and geographic presence on some of the major players in this market including GoPro, Inc. (US), Sony Corporation (Japan) , Insta360 (Arashi Vision Inc..) (China), SJCAM (China), JVCKENWOOD Corporation (Japan), TomTom International BV (Netherlands), Garmin Ltd. (USA), SZ DJI Technology Co., Ltd. (China), Drift Innovation (UK), YI Technology (China), Eastman Kodak Company (US), Nikon Corporation (Japan), Rollie (Germany), Panasonic Corporation (Japan) and Xiaomi (China).
Major market players are focusing on organic and inorganic growth strategies to strengthen their position in the action cameras and accessories market. Companies adopt strategic collaborations and partnerships to offer an innovative portfolio responding to a wide field of application. Major market players are focusing on mergers and acquisitions to expand their product portfolio and increase the consumer base. The launches of new products with innovative functionalities are also a major strategy which strongly impacts the growth of the market. For example, in November 2020, Insta 360 released the ONE X Enterprise Edition camera for business customers. ONE-X is designed to capture virtual tours and corporate content.
The report also covers the impact of COVID-19 on the action camera and accessories market. The market is experiencing a sudden decline due to the imposed foreclosure causing disruption in manufacturing, travel and tourism, sports and entertainment, and media. However, the market is expected to gain ground by 2021 with the restart of travel and tourism, sporting activities in several countries and an increase in viewership for travel bloggers.
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