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Action Camera Market Size

Report ID: GMI353
Published Date: Oct 2020
Report Format: PDF

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Action Camera Market Size

Action Camera Market size valued at over USD 3.5 billion in 2019 and is expected to grow at a CAGR of more than 14% from 2020 to 2026. The global industry shipments are poised to cross 5 million units by 2026. The market growth is attributed to the expanding travel & tourism industry globally.

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The travel & tourism industry plays a crucial role in the global economic development. According to The World Tourism Organization (UNWTO), in 2019, there were around 1.5 billion international tourist arrivals across all regions globally. Tourists prefer to carry compact action cameras that ensure hassle-free travel. The U.S. is anticipated to host around 95.5 million international visitors annually by 2023. The expanding tourism industry will surge the demand for robust action cameras as travelers are enthusiastic about recording HD videos and high-quality pictures during travel.

Industry players are integrating advanced technologies, such as AI and biometrics, in action cameras to differentiate their offerings. For instance, in January 2020, Insta360 launched the One R versatile action camera that consists of a processor with an inbuilt miniature touchscreen and a 360-degree camera that records at 5.7k resolution. As such compact gadgets ensure enhanced portability and high-resolution video recording, the market will witness a demand for miniaturized action cameras. Furthermore, developments in the electronics and semiconductor industries have enabled the miniaturization of devices while maintaining ruggedness and quality. R&D activities in the electronics market will enable action camera manufacturers to offer high-performance cameras in the market.

The ongoing coronavirus (COVID-19) pandemic has negatively impacted the action camera market due to the imposition of lockdown measures in several countries globally. Travel restrictions and the temporary closure of industries & manufacturing facilities to ensure social distancing and prevent transmission have hampered the industry growth in 2020. However, with the gradual reopening of factories & industries and the relaxation on travel restrictions, the market will gain traction.

Action Camera Market Report Attributes
Report Attribute	Details
Base Year:	2019
Action Camera Market Size in 2019:	3.5 Billion (USD)
Forecast Period:	2020 to 2026
Forecast Period 2020 to 2026 CAGR:	14%
2026 Value Projection:	5.5 Billion (USD)
Historical Data for:	2016 to 2019
No. of Pages:	320
Tables, Charts & Figures:	495
Segments covered:	Technology, Distribution Channel, End-Use, Application and Region
Growth Drivers:	Rising trend of underwater photography for sports and recreational activities Demand for advanced action cameras from globe trotters Growing popularity of social media platforms across Asia Pacific and Europe Emerging trend of adoption of 360° cameras with the integration of VR in North America Rise in the popularity of adventure sports such as skydiving, dune bashing, sandboarding and shark diving viz. in Latin America and MEA
Pitfalls & Challenges:	Adoption of smartphones with high-end cameras Data security & privacy concerns

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for action cameras was pegged at USD 3.5 billion in 2019 and will register more than 14% CAGR over 2020-2026 with the gradual expansion of the tourism sector.

Personal applications accounted for over 60% of the industry share in 2019 and will reach a CAGR of 13% through 2026 owing to the rapid adoption of social media platforms.

The U.S. action camera industry share will witness over 15% CAGR for the ultra HD technology segment due to their increasing deployment across recreational activities.

The market in UAE is expected to record over 12% CAGR owing to the fast-paced growth on e-commerce sector and the availability of a range of cameras online.

LATAM industry size for action cameras will grow at a rate of around 12% up to 2026 with high demand from cultural events, carnivals and festivals taking place in the region.