Global Action Camera Market 2017-2021
About Action Camera
Action cameras are used to capture extreme action sports or activities. Regular cameras are incapable of capturing high-speed actions and are not designed for harsh conditions, including extreme weather. In contrast, action cameras are compact, lightweight, designed for rugged conditions, as well as can be worn on the body or mounted on vehicles. These cameras can capture high-speed and high-quality images. The popularity of social networking sites such as Facebook, Twitter, and Instagram, is one of the major drivers of the global action camera market. End-users share images and videos of their sports activities captured through action cameras on these sites; thus, increasing the demand for these cameras.
Technavio’s analysts forecast the global action camera market to grow at a CAGR of 14.60% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global action camera market for 2017-2021. To calculate the market size, the report considers the revenue generated through the sales of action cameras excluding accessories.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Action Camera Market 2017-2021
Technavio recognizes the following companies as the key players in the global action camera market: Drift, Garmin, GoPro, iON, Rollei, and Sony.
Other Prominent Vendors in the market are: BRAUN PHOTO TECHNIK, Brinno, Chilli Technology, Delkin Devices, EyeSee360, Geonaute, Hitachi, iSAW, Liquid Image, Mobius ActionCam, Panasonic, PAPAGO, Pyle Audio, Toshiba, VIOFO, VIEVU, and XSories.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is rapid shift in demand from developed nations to developing nations. There is a paradigm shift in the action camera market from developed nations to developing nations. The primary reason for this shift is the ever-growing popularity of adventure tourism and growing sports infrastructure in developing nations. The reach of the action camera market is very low in emerging economies, such as India and China.”
According to the report, one driver in market is growing popularity of social networking sites. One of the major drivers for the sales of action cameras is the growing popularity of social networking sites. Customers use social networking sites to share their experiences captured through these cameras. In 2016, Facebook had 1.8 billion, and Twitter had 350 million monthly active users. Over a billion unique users visit YouTube every month. Google Plus has around 150 million active users monthly, and there are more than 350 million people on Instagram. With the growing number of social networking sites users, the target audience is also growing. Various brands are taking advantage of the growing popularity of social media and are promoting their brands through content promotion. For instance, GoPro, a leading vendor, has partnered with Comcast to deliver GoPro contents to a diverse audience, ranging from adventure enthusiasts to animal lovers.
Further, the report states that one challenges in market is increasing competition among vendors. Action camera vendors are experiencing a decline in their profit margins. This is primarily because the prices of raw materials are increasing. Global vendors such as GoPro, Drift, Sony, Garmin, and iON have large shares in the market. Due to the high market potential, several new vendors have entered the market. Vendors are focusing on developing action cameras that are affordable for consumers especially in developing countries. This hinders the sales potential and revenues of existing vendors. In addition, the growing prominence of new vendors has resulted in price wars, which has forced the existing vendors to reduce the prices of their offerings, which has led to a reduction in profit margins. This leads to low reinvestments in the business, due to which, vendors might have to compromise on the quality of their offerings. This will adversely affect the market growth during the forecast period. Major consumer electronics vendors such as JVC, Panasonic, and Toshiba are investing in the market with featured action cameras, which will further reduce the market share of existing vendors.
Drift, Garmin, GoPro, iON, Rollei, Sony, BRAUN PHOTO TECHNIK, Brinno, Chilli Technology, Delkin Devices, EyeSee360, Geonaute, Hitachi, iSAW, Liquid Image, Mobius ActionCam, Panasonic, PAPAGO, Pyle Audio, Toshiba, VIOFO, VIEVU, and XSories.