Action Camera Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.41 Billion |
| Market Size (2029) | USD 9.18 Billion |
| CAGR (2024 - 2029) | 15.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Action Camera Market Analysis
The Action Camera Market size is estimated at USD 4.41 billion in 2024, and is expected to reach USD 9.18 billion by 2029, growing at a CAGR of 15.80% during the forecast period (2024-2029).
The market for action cameras is expected to witness substantial growth due to the various benefits compared with either standard point-and-shoot or DSLR. The multiple benefits include recording 4k videos in top-notch quality without any hassle, compact size, capturing different angles in extreme sports such as surfing and skiing, and using it as a car dashcam.
- Action cameras are designed such that the videos shot on these devices provide a first-person perspective to viewers. This generates interest among viewers as they can develop their personal views on surfing, rock climbing, and skiing activities. The small size and excellent 'point of view' feature of action cameras have enabled people to capture and share their adventures on social media platforms.
- Various factors, such as the increasing use of smart gadgets, the rise in extreme sports events, holidays, and music festivals, the growing trend of sharing content on social networking websites, and the booming consumer electronics sector, are driving the growth of the action camera market.
- In an age where smartphones with advanced lenses and features are affordable, the price of action cameras could hinder the market's growth. However, this challenge of a price war among the latest devices is handled by market players introducing low-cost, durable, waterproof, weather-resistant, and compact design action cameras.
- The addition of Wi-Fi and Bluetooth connectivity and the ability to record films and photographs in 4K resolution has increased the demand for action cameras. The increased tourism operations have also increased the demand for action cameras, as individuals increasingly choose to record images and films of their travel locations.
- Manufacturers of camera lenses are heavily concentrated in Asian nations such as China, South Korea, Taiwan, and Japan. Further, as the Indian government aims to achieve its USD 200 billion electronics manufacturing target, the country focuses on partnerships and investment with the leading vital vendors to establish manufacturing plants there. For instance, in June 2023, according to Micron, the company is expected to construct the facility in 2023. The total investment will amount to USD 825 million across the two phases and will result in the creation of 5,000 direct jobs for Micron and 15,000 jobs for the community over the next few years.
Action Camera Market Trends
Increased Use of Action Cameras Among Adventure Enthusiasts Expected to Aid Market Growth
- The growing popularity of sports events, outdoor adventures, and active lifestyle activities, such as trekking, mountain racing, and ice skating, at the domestic and regional levels, and the increased number of sports enthusiasts and adventurists are further supporting market growth. The action cameras are designed so that the videos shot on these devices provide a first-person perspective to viewers.
- Demand for 4K resolution in action cameras is accelerating owing to the increased sale of Ultra HD variants in the past few years. It is also anticipated that the adoption of 4K display technology will outpace the demand for Ultra HD technology in the coming years. According to TechRadar, as of March 2024, the market saw a trend where leading action cameras, like the GoPro Hero 12 and 10, DJI Osmo Action 4, and Insta360 Ace Pro, boasted 4K video capabilities at 120fps. In contrast, models such as the Olympus Tough TG-6 and Akaso Brave 7 LE were limited to a 4K video frame rate of 30fps.
- Also, the increasing use of social media platforms for sharing live videos and pictures and various promotional and marketing activities is augmenting the market's growth. Developing countries such as India and China are observing an increasing trend of social media adoption among individuals.
- The digital transformation and implementation of IoT also emphasize the creation of an ecosystem of interconnected devices, including an action camera linked to an additional gadget for many uses. For example, Hero Electronix unveiled the Qubo Smart Dashboard Cam featuring artificial intelligence in May 2022. It contains a built-in 6-axis G-sensor, which can identify a rapid shaking or impact and capture it in the incident file, which is accessible via a smartphone application for both Android & iOS. It is simple to install on the dashboards and can capture images and movies while driving.
- However, incremental technological advancements in smartphone cameras, with smartphone makers making heavy investments, are expected to hinder market growth. Also, the affordable rate of smartphones with advanced camera features compared to action cameras is further expected to hinder the market growth of action cameras in the forecast period.
North America Expected to Contribute Significantly
- The North American region is expected to contribute significantly to the market studied over the forecast period due to the presence of many vendors who are also investing hugely in market innovation, coupled with the dominance of the US in the global market. This is attributable to the increased participation of the youth population in sports and recreational activities.
- It is one of the leading markets due to various factors, such as the increasing trend of athleticism and rising concern for health. Individuals' participation in extreme sports, such as swimming, sky diving, scuba diving, hiking, and biking, and growing emphasis by governments in the region to improve emergency services such as paramedics and firefighting.
- The growing participation of individuals in extreme sports events further supports market growth. According to a report by the Physical Activity Council's Participation (PAC) produced by Sports Marketing Surveys, Tennis participation in the United States increased by 1 million in 2022. The survey and report monitor more than 120 different sports and activities participated in by Americans.
- Additionally, the presence of leading social media firms and increasing investments in R&D to integrate advanced functionality into action cameras are driving robust market growth. For instance, according to meta platforms, Facebook was the platform on which the United States spent the most time per day. The average time spent on Facebook was 33 minutes, followed by TikTok at 32 minutes and Twitter at 31 minutes daily.
- However, despite Facebook's ubiquity, other social networking sites have also gained market share, especially among teenagers and young adults. Instagram and Snapchat are growing in popularity continually among young American internet users. Thus, growing penetration for social media users is likely to drive the studies market.
- The growing production volume of light commercial vehicles and the New Car Assessment Program (NCAP) influence is expected to drive the demand for action cameras in the North American region.
- Increased disposable income, higher demand for technologically advanced devices, and higher adoption rate of innovative technologies have positively influenced the region and augmented the growth of the North American action camera market.
Action Camera Industry Overview
The action camera market is moderately consolidated, with a few vendors accounting for significant market share globally. Some of the players operating in the action camera market include insta360, GoPro Inc., Olympus Corporation, Garmin Ltd, and Nikon. The market players are increasingly making significant investments in terms of new product launches while making various innovations in existing products. This will help them gain maximum market traction as the market continuously evolves in line with emerging trends.
In Januray 20204, GoPro has announced a partnership with X Games Aspen 2024 to be the official action camera of the elite winter ski and snowboard competition. More than 100 of the biggest names in action sports will compete in front of live crowds in Aspen, Colorado, with an additional 2.4 million viewers tuning in from home across ABC and ESPN broadcasts, making this one of the biggest snow events of the year with some of the most coveted action sports medals outside of the Olympic.
In November 2023, Insta360’s new Ace action cams can make it easier to frame vlogs and bike rides to a flip screen, and the Pro version touts Leica optics and camera model comes with a smaller 1/2-inch image sensor, but it supports recording up to 6K at 30 frames per second, and both models can shoot 4K at a high-speed 120 frames per second and take 48MP pictures.
Action Camera Market Leaders
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GoPro, Inc.
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Nikon Corporation
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Garmin Limited
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Olympus Corporation
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insta360
*Disclaimer: Major Players sorted in no particular order
Action Camera Market News
- October 2023: GoPro, has recently launched Go PRO HERO 12 Black . If an compact waterproof action camera that can click photos or record videos without compromising on quality and works in extreme conditions, and availed on popular e-commerce platforms like Amazon, Flip cart Reliance Digital, Croma, and other authorised sellers. Here are some details about the GoPro camera models along with their discounted prices.
- May 2024: Insta360 has announce a partnership with Motovan, this exciting collaboration will make Insta360 action cameras more accessible than ever to Canadian riders, adventurers, and outdoor enthusiasts Action cameras and powersports go hand in hand and will allow our dealers to capitalize on this very popular segment while helping Insta 360 with its continuous growth.
Action Camera Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Defnition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High-demand Markets, such as Aerospace and Automotive
4.2.2 Hardware Advancements Have Played a Role in Enhancing Portability and Use in Rugged Environments
4.2.3 Increasing Use of Smart Devices and Advancements in Consumer Electronics
4.3 Market Restraints
4.3.1 Incremental Advancements in Smartphones
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Intensity of Competitive Rivalry
4.4.5 Threat of Substitute Products
4.5 Distribution Channel Analysis - Retail & Online Sales
4.6 Key Application Area Trends - Sports, Adventure, Emergency Services, etc.
4.7 Assessment of the Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Resolution
5.1.1 Ultra HD
5.1.2 Full-HD
5.1.3 Other Resolutions
5.2 By Geography***
5.2.1 North America
5.2.2 Europe
5.2.3 Asia
5.2.4 Australia and New Zealand
5.2.5 Latin America
5.2.6 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 GoPro, Inc.
6.1.2 Nikon Corporation
6.1.3 insta360
6.1.4 Garmin Limited
6.1.5 Olympus Corporation
6.1.6 Rollei GmbH & Co. KG
6.1.7 Sony Corporation
6.1.8 Drift Innovation
6.1.9 SZ DJI Technology Co. Limited
6.1.10 Yi Technology
6.1.11 TomTom NV
6.1.12 Veho
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Action Camera Industry Segmentation
An action camera is a digital camera designed to record action while immersed in it. They are typically compact and rugged, and waterproof at the surface level. The market is segmented based on resolution (Ultra HD, Full-HD, Other Resolution (4K)) and geography (North America, Europe, Asia-Pacific, Rest of the World). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.
| By Resolution | |
| Ultra HD | |
| Full-HD | |
| Other Resolutions |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Action Camera Market Research FAQs
How big is the Action Camera Market?
The Action Camera Market size is expected to reach USD 4.41 billion in 2024 and grow at a CAGR of 15.80% to reach USD 9.18 billion by 2029.
What is the current Action Camera Market size?
In 2024, the Action Camera Market size is expected to reach USD 4.41 billion.
Who are the key players in Action Camera Market?
GoPro, Inc., Nikon Corporation, Garmin Limited, Olympus Corporation and insta360 are the major companies operating in the Action Camera Market.
Which is the fastest growing region in Action Camera Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Action Camera Market?
In 2024, the North America accounts for the largest market share in Action Camera Market.
What years does this Action Camera Market cover, and what was the market size in 2023?
In 2023, the Action Camera Market size was estimated at USD 3.71 billion. The report covers the Action Camera Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Action Camera Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key factors driving the Action Camera Market?
Key factors driving the Action Camera Market are: a) Rising popularity of social media platforms b) Advancements in camera technology c) Growing trend of sharing experiences through video content d) Increase in adventure sports
Action Camera Industry Report
The Global Action Camera Market is booming, driven by the rising popularity of extreme sports, holidays, music festivals, and the trend of sharing content on social networks. Technological advancements like artificial intelligence (AI) and virtual reality (VR) are enhancing these devices, making them more appealing. The market caters to a wide audience, from professional to personal use, with a demand spike for Ultra HD and Full HD cameras due to their superior video quality. Available through both online and physical stores, action cameras are used in sports, recreational activities, and emergency services, showcasing their versatility. North America holds a significant market share, while the Asia Pacific region is the fastest-growing, Due to new product launches and an increase in recreational activities. The action camera market is competitive, with companies constantly innovating to meet consumer needs. According to Mordor Intelligence™ Industry Reports, this market is experiencing substantial growth in share, size, and revenue, highlighting the critical role of action camera companies in catering to today's adventurous consumers. Get a free report PDF download for more insights into the action camera market forecast and analysis.
Action Camera Market Report Snapshots
