Action Camera & Accessories Market is Expected to Grow at a CAGR of 13.5% to reach $6.58 billion by 2027

The MarketWatch News Department was not involved in the creation of this content. Feb 02,

The MarketWatch News Department was not involved in the creation of this content.

Feb 02, 2021 (Heraldkeepers) —
According to this latest publication from Meticulous Research(R), the action camera & accessories marketis projected to reach a value of $6.58 billion by 2027, growing at a CAGR of 13.5% during the forecast period. In terms of volume, the action camera market is estimated to grow at a CAGR of 12.1% from 2020 to 2027 to reach 29.9 million units by 2027 from 13.4 million units in 2020.

The market growth is attributed to the increasing popularity & demand for action cameras in the entertainment & media, automotive, and adventure tourism industries. Increasing adoption of these cameras in cars & commercial vehicles instead of dashboard cameras to view the wide front of vehicles is a major factor expected to drive the market growth. The wide-angle lenses and stability in action cameras allow users to view the car front by mounting on the windshield or rear-view mirrors. The mount has an extendable arm that holds the action camera and works like a dashcam.

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Meticulous Research(R) – leading global market research company published a research report titled “Action Camera & Accessories Market by Product Offering (Action Camera, Accessories), Technology (Full HD, Ultra HD), Frame Rate (31-60, 61-120 fps), Distribution Channel (Online, Offline), End User (Personal, Professional), and Application (Sports, Travel & Tourism)- Global Forecast to 2027.

Companies have developed action cams with MicroUSB port for charging as these are also available in cars to offer uninterrupted video recording. Some action cameras are also offered with dashcam mode that automatically start & stop recording when the engine starts & stops. The development of advanced action cameras with wide-angle lenses and dash cam modes is a major factor in creating market growth opportunities in the automotive sector. These factors and the need for dashcams for car & passenger safety will support the demand for action cameras over the forecast period.

The action camera & accessories market study presents historical market data in terms of value (2018-2019), estimated current data (2020), and forecasts for 2027. The market is segmented on product offering (action camera, action camera accessories [batteries, mounts, mods, protectors, and other accessories]), technology (full HD, ultra-HD, SD), frame rate (31-60 fps, 15-30 fps, 61-120 fps, 121 to 240 fps), distribution channel (online, offline), end user (personal, professional), application (sports, travel & tourism, recreational activities, entertainment & media, automotive, emergency services, and other applications). The study also evaluates industry competitors and analyses the market at a country level.

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Based on product offering, the action camera & accessories market is segmented into action cameras and accessories. The accessories segment is expected to grow at a steady pace from 2020-2027 in terms of revenue and volume due to the need for extra batteries, mods, and mounts that allow the cameras to be placed on smartphones, helmets, bikes, and the human body. These accessories help users record videos from different positions and angles while maintaining camera stability. The accessories market is further segmented into batteries, mounts, mods, protectors, and other accessories. Batteries are estimated to gain the highest share in 2020 due to the high demand from consumers who regularly use action cameras for a longer time.

Based on technology, the full HD segment is expected to gain the largest market share in 2020 in terms of revenue and volume due to the ability to record videos in better quality than the HD and SD resolution cameras. Full HD cameras offer high resolution & stability over the standard displays. Also, these products are gaining demand across recreational and adventure sports applications. Consumers are using these cameras with waterproof features for underwater activities.

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The action camera & accessories market finds its application across sports, travel & tourism, recreational activities, entertainment& media, automotive, emergency services, and other applications. The recreational activities segment is poised to grow steadily due to the high adoption of these cameras for recording activities, such as hiking, camping, mountaineering, rafting, and kayaking. Increasing participation of travelers, tourists, and citizens in these recreational activities is a major factor in the market growth.

Key Players:

The key players operating in the action camera & accessories market are GoPro, Inc. (U.S.), Sony Corporation (Japan), Insta360 (Arashi Vision Inc.) (China), SJCAM (China), JVCKENWOOD Corporation (Japan), TomTom International BV (Netherlands), Garmin Ltd. (U.S.), SZ DJI Technology Co., Ltd. (China), Drift Innovation (U.K.), YI Technology (China), Eastman Kodak Company (U.S.), Nikon Corporation (Japan), Rollie (Germany), Panasonic Corporation (Japan), and Xiaomi (China).

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Key questions answered in the report

  1. Which are the high growth market segments in terms of product offering, technology, frame rate distribution channel, end user, application, and region/countries?

  2. What was the historical market for action cameras & accessories worldwide?

  3. What are the market forecasts and estimates for 2020-2027 in terms of revenue and volume?

  4. What are the major drivers, restraints, and opportunities in the action camera & accessories market?

  5. Who are the major players in the action camera & accessories market?

  6. How is the competitive landscape, and who are the market leaders in the action camera & accessories market?

  7. What are the recent developments in the action camera & accessories market?

  8. What are the different strategies adopted by the major players in the action camera & accessories market?

  9. What are the geographical trends and high growth regions/countries?

Geographic Review:

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., and Canada), Europe (U.K., Germany, France, Italy, Spain, Switzerland, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Singapore, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), the Middle East and Africa (UAE, Saudi Arabia, South Africa, and Rest of the Middle East and Africa). North America is expected to command a large share in 2020 of the action camera & accessories market, followed by Europe and Asia-Pacific. The share is attributed to high purchasing capability and high technical awareness of the North American consumers.

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The MarketWatch News Department was not involved in the creation of this content.