Selbyville, Delaware, Nov. 05, 2020 (GLOBE NEWSWIRE) --
According to latest report “Action Camera Market Technology (Full HD, Ultra HD, HD & SD), Distribution Channel (Online, Offline), End-Use (Personal, Professional), Application (Sports, Recreational Activities, Emergency Services), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of action camera will cross $5.5 billion by 2026. The expanding tourism industry will surge the demand for robust cameras to capture high-quality images.
HD and SD cameras market is expected to witness demand from amateur photographers with budgetary constraints. New learners prefer to buy these cameras to learn basics before switching to HD or ultra HD cameras. HD images contain either 720 or 1,080 rows of pixels making up a 16:9 format image. With HD cameras of a given resolution, a single multi megapixel digital camera can view a larger area than a typical SD camera. The multiple video streaming capability enables viewing of an entire scene while enlarging small sections of the scene simultaneously. This enables video surveillance system to cover the same with fewer cameras.
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Action camera market from online distribution channel is predicted to observe around 16% growth rate through 2026 due to the strong penetration of online retailers, such as Amazon, Flipkart, and eBay offering a range of high-performance cameras from several brands. These retailers employ several marketing strategies, such as reduced delivery time and seasonal discounts, to boost their sales. They also enable the return of defective items within a specified period to ensure customer satisfaction and product replacement on selected items. Using online retailing, consumers get a glance of a wide range of cameras from different brands on a single portal, thereby allowing them to select the best-suited product.
The developing tourism industry in the Middle East & Africa region will surge the demand for technologically advanced action cameras. Large aquarium owners deploy high-performance cameras to shoot short films of rare ocean species to attract tourists by providing a glimpse of their offerings and to enhance marketing.
Key players operating in the action camera market include Garmin Ltd., GoPro, Inc., Nikon Corporation, Panasonic Corporation, Sony Corporation, Olympus Corporation, TomTom N.V., YI Technology, and SZ DJI Technology Co., Ltd. Companies are focusing on launching new products to strengthen their product portfolio. For instance, in June 2020, AKASO introduced a new action camera, the Brave 7 LE, which is weatherproof and water-resistant for enhanced Vlogging experience. The camera is suitable for underwater adventures. Players introducing new products with improved features will drive the industry growth.
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Some major findings of the action camera market report are:
- A rise in the tourism industry globally will propel the demand for high-quality action cameras that enable travelers to capture sharp & crisp images. With several countries focusing on strengthening their tourism sector, the international travel industry is estimated to grow, resulting in an increasing demand for action cameras.
- Compact size of action cameras ensures enhanced portability and hassle-free travel while compactness and rigidity features ensure high-quality images. Leaders including Sony Corporation and GoPro, Inc. are manufacturing high-quality cameras, increasing the competition in the action camera market.
- The rise in sports activities, such as snorkeling and scuba, diving will influence the demand for high-performance action cameras. Regular snorkelers and scuba divers capture high-quality pictures for research on aquatic life and seabed.
- Ultra HD cameras that ensure image stabilization and high-resolution images will showcase demand from professionals working in the research or photography industry.
- The developed tourism sector in North America and Europe will encourage tourists to adopt high-quality action cameras to capture clear & enhanced images. Tourism companies capture crisp & sharp images to publish on their online portals to attract customers.
Table of Contents (ToC) of the report:
Chapter 3 Action Camera Market Insights
3.1 Industry segmentation
3.2 Impact of coronavirus (COVID-19) pandemic action camera market
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.3 Industry value chain
3.2.3.1 Component suppliers
3.2.3.2 Manufacturers
3.2.3.3 Service providers
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.4.1 Impact of AI & IoT
3.4.2 Biometric action cameras
3.4.3 Image sensors
3.4.4 Hyper-responsive display
3.4.5 Waterproof cameras
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Pitfalls and challenges
3.7 Growth potential analysis
3.8 Porter’s analysis
3.8.1 Buyer power
3.8.2 Supplier power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Industry rivalry
3.9 PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.