Fort Collins, Colorado, April 17, 2024 (GLOBE NEWSWIRE) --
Demand for action cameras to peak in the forecast period.
The growing interest in adventure sports and outdoor pursuits has emerged as a pivotal catalyst propelling the growth of the action camera market. As per the Outdoor Industry Association, outdoor recreation engagement in the United States surged by 6.9% from March 2020 to 2021, with over half of Americans aged 6 and above participating in at least one outdoor activity in 2021. This upsurge in enthusiasm has spurred heightened demand for action cameras, as enthusiasts aspire to capture and showcase their escapades. Additionally, the proliferation of social media platforms such as Instagram and YouTube has incentivized users to generate and distribute top-tier content, further fueling the need for action cameras.
Significant strides in technology have been instrumental in propelling the action camera market forward. Manufacturers have prioritized the development of cameras endowed with enhanced features such as superior resolution, improved image stabilization, and prolonged battery longevity. For instance, the latest GoPro Hero10 Black boasts HyperSmooth 4.0 stabilization and a 1720mAh battery, offering users heightened video quality and extended recording capabilities. Furthermore, the integration of Wi-Fi and Bluetooth connectivity has streamlined the content transfer and sharing process, thereby bolstering the adoption of action cameras.
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Segmentation Overview:
The action camera market has been segmented into technology, resolution, end-use, distribution channel, and region.
Traditional action cameras register a huge growth in the forecast period.
- The market is segmented into traditional action cameras and 360-degree action cameras based on technology. Traditional action cameras hold a substantial share of the technology segment of the action camera market. This is due to their widespread adoption, ease of use, and extensive range of features. These cameras have been in the market for a long time and have gained popularity among sports enthusiasts, adventure seekers, and content creators.
Action camera largely benefits for personal use
- The market segmentation includes personal, professional, and others based on the end-use. Personal use holds a significant share of the action camera market's end-use segment. This is due to the widespread adoption of action cameras by individuals to capture their adventures, travels, and everyday experiences. The increasing affordability of action cameras, coupled with the growing popularity of social media platforms where users share their captured content, has contributed to the dominant adoption of these cameras for personal use.
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Action Camera Market Report Highlights:
- The action camera market growth is anticipated at a CAGR of 15.4% by 2032.
- An increase in outdoor activities and a growing demand for adventure sports will likely influence the industry's growth.
- Asia-Pacific is the fast-growing market for action cameras owing to the wide presence of the entertainment industry and the rise in travel and tourism.
- Some prominent players in the action camera market report include GoPro, Inc., Sony Corporation, Garmin Ltd., YI Technology, Drift Innovation Ltd., TomTom International BV, Contour, LLC, Panasonic Corporation, Olympus Corporation, Polaroid Cube, SJCAM Limited, Ricoh Company, Ltd, and others.
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