Market Overview
The portability and compactness nature of the action camera is driving the Action Camera Market, and it is widely preferred over DSLR cameras in today’s generation. Action cameras are mostly used for streaming and recording extreme sports like surfing and skiing; it has the ability to capture sporting actions from different angles. These cameras have various properties and features like dust resistance, waterproof, shockproof, and crush-proof features. Social media has been the boosting factor of the market because of the growth of content sharing on social websites. The market witnessed rapid sales because of this factor. The increase in the use of social media for social activities like promoting and marketing is accelerating the Action Camera Market Size. The market is even receiving huge opportunities worldwide, for example, an increase in online sales of the cameras in emerging and developing countries. The adoption of 360-degree cameras with VR integration is emerging the market trend. The adoption of action cameras in the entertainment and media industries to shoot live sport and events enhances the market's growth rate.
The COVID-19 pandemic period severely affected the Action Camera Market Size, which led to huge revenue losses. The Action Camera Market manufacturers' facilities were shut down because of strict guidelines during the lockdown period. There was a delay in the suppling of raw materials, and the production process was stopped. On the other hand, in the lockdown period, customers get attracted to online sales of action cameras, which geared up the market growth.
The Global Action Camera Market Industry was at USD 4,237.9 Million in 017, and it is about to reach 9,38.5 Million USD of CAGR of 12.45 % by 2025 during the assessment period.
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Market segmentation
The Action Camera Market is segmented into various segments such as type, technology, distribution channel, and end-users. The type segment has various sub-segments: box-style, cube-style, bullet-style, periscope, and 360 degrees. The box style segment accounts for the highest share due to the versatility nature of the cameras. Cube style is considered as the second largest market share among the others. The market is categorized into Full HD, Ultra HD, HD, and SD in the technology segment. The distribution channel is segmented into online and brick-and-mortar stores. Based on end-user, it is divided into professional and personal. All these segments contribute to the growth of the market.
Regional Analysis
The Action Camera Market has seen development in various regions across the globe, such as North America, Europe, Asia Pacific, and the Rest of the World. North America region to contribute as the leading share-holder, and the region will maintain its further growth in the upcoming years. The Asia Pacific holds the title of second-highest share at the global level. The European market is rapidly emerging, and it is expected to reach a healthy CAGR in the upcoming years. The UK and Germany regions are contributing better to the growth of the regional market.
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Industry News
The Action Camera Market is registered to reach USD 9,382.5 million by 2023 during the forecast period.
GoPro launched its Hero 9 Black Action Camera on September 16, 2020, for a 5K video recording.
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