USD 5.2 billion
Report ID: SQSG25E2021 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Action Camera and Accessories Market was valued at USD 5.2 billion in 2021, and it is expected to reach a value of USD 12.23 billion by 2028, at a CAGR of more than 13% over the forecast period (2022-2028).
Action cameras are digital cameras that are meant to capture action while completing tasks. These cameras are tiny and sturdy, and they are usually waterproof and shockproof, making them ideal for high-intensity sports. Accessories for action cameras are used to mount, position, support, protect, and charge the cameras. Batteries, modifications, mounts, protectors, and other accessories are among them. Furthermore, the growing popularity of action cameras in professional activities as well as outdoor adventures is boosting the action camera and accessories market. On the other hand, technical advancements in the consumer electronics industry, such as the incorporation of AI and VR methods in cameras, are considerably contributing to the expansion. Consumer electronics sector evolution, such as sensor miniaturisation and widespread usage of smart gadgets, is expected to favourably effect market development. The market has been driven by features such as mobility, ease, compact size, and adaptability. The latest generation of action cameras frequently have add-ons that enable Wi-Fi and other functionalities that link action camera users to other devices.
Waterproof housings for action cameras and gadgets have provided producers with several options. For example, the Nikon KeyMission360 comes with an in-built waterproof case, but the Veho K2Pro 4K requires the purchase of an aftermarket housing. Furthermore, Wi-Fi compatibility and mobile app compatibility are other frequent aspects wherein internet technology drives the relevance of network connectivity in cameras. As a result, manufacturers concentrate on equipping the camera with cutting-edge technology and functions that meet customers' expectations.
Global Market Size
USD 5.2 billion
more than 13% CAGR
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Global Action Camera and Accessories Market is segmented based on the Product Offerings, Technology, Frame Rate, Distribution Channel, End User, Application, and region. Based on Product Offerings, the market is segmented Action Cameras, Action Camera Accessories (Batteries, Mounts, Mods, Protectors, Other Accessories). Based on Technology, the market is segmented into Full HD, Ultra HD, and SD. Based on Frame Rate, the market is categorized into 31-60 fps, 15-30 fps, 61-120 fps, and 121-240 fps. Based on Distribution Channel, the market is segmented into Online and Offline. Based on End User, the market is segmented into Personal, and Professional. Based on Application, the market is segmented into Sports, Travel & Tourism, Recreational Activities, Entertainment & Media Automotive, Emergency Services, and Other Applications. By region, the market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.
Analysis by Product Offerings
In terms of revenue and volume, the action cameras category is predicted to account for the highest proportion in 2021. Action cameras are becoming increasingly popular in the tourist and sports application industries. The adventure and extreme sports businesses are among the fastest expanding in the tourist and leisure industries. In recent years, tourists, residents, and professionals have increased their participation in these sports and adventurous activities. The growing popularity of filming and streaming sports footage is driving increased demand for action cameras. These cameras allow participants to connect them to body parts and film them while performing. Action cameras' excellent stability, broad viewing angles, and lightweight design encourage its use in sports applications.
Analysis by Distribution Channel
The online segment is expected to command the largest share in terms of revenue and volume in 2021 due to the high purchase of electronic products from online stores and websites. Because of the huge discounts, availability of multiple options, review-based shopping, and home delivery benefits, consumers all over the world are shifting to online purchases. Online electronics stores and manufacturer websites, for example, allow users to order cameras from anywhere in the world.
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North America was the largest market for action cameras and accessories in 2021, followed by Europe and Asia-Pacific. North America's large share is due to the presence of key players in the region, as well as the high demand for digital cameras in various application industries. Furthermore, due to the presence of a technically savvy population, the high adoption of internet-based content creation and blogging trends in the United States is a key factor driving market growth.
The Middle East and Africa, as well as Latin America, are experiencing significant market growth.
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To meet the growing demand for image stabilisation and wide viewing angles, manufacturers offer travel and tourism-specific cameras. Action camera manufacturers have worked to reduce camera size and weight in order to provide portable products. Camera mods, stands, and protectors are also being developed to cater to users in the travel and tourism industries.
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According to our Global Action Camera and Accessories Market, high increment in travel blogging to drive market growth travel bloggers promote tourism and have an impact on video equipment sales, including action cameras. Manufacturers offer travel and tourism-specific cameras to meet the growing demand for image stabilisation and wide viewing angles. The action cameras segment accounted for the lion's share of the overall action camera & accessories market in terms of revenue and volume. The online segment is expected to grow at the fastest rate in terms of revenue and volume due to global consumer preference for online purchases. North America was the largest market for action cameras and accessories in 2021, followed by Europe and Asia-Pacific.
|Market size value in 2021||USD 5.2 billion|
|Market size value in 2028||USD 12.23 billion|
|Growth Rate||more than 13%|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Action Camera And Accessories Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Action Camera And Accessories Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG25E2021