Action Camera Market

Global Action Camera Market Size (2024 to 2029)

The global action camera market size was valued at USD 2.28 billion in 2023 and is expected to reach 3.75 billion by 2029 from USD 2.48 billion in 2024, growing at a CAGR of 8.65% from 2024 to 2029.

Market Drivers

The growing participation of people in adventure and outdoor activities and increasing usage of action cameras in such events are majorly driving the growth of the global action camera market.

The interest of people in exploring adventures and outdoor activities has seen a significant spike in recent days. People use various devices to capture their memories while performing and often use action cameras in the process. The number of people showing interest in outdoor activities has increased exponentially in the United States. For instance, as per the statistics published by the Outdoor Industry Association, an estimated 160.7 million Americans aged above 6 have been a part of at least one outdoor activity in the U.S. in 2020.

The rising popularity of extreme sports is further fuelling the growth rate of the action camera market. The demand for extreme sports has been growing significantly. Extreme sports such as ziplining, rafting, rock climbing, hot air ballooning, and sky diving have gained immense craze in recent days and have an estimated 490 million participants worldwide. In the U.S., people have been showcasing an increasing interest in performing snow sports such as skiing and snorkeling. As per Statista, the number of ski and snowboard resorts has climbed from 322 to 366 between 2021 and 2022. The usage of action cameras in extreme sports has gradually grown over the last few years and the demand for action cameras is expected to be fuelled by the growing number of participants and contribute to the global market growth likewise.

An increasing number of product launches by market participants is supporting global market growth. Recent research and new product developments in the consumer electronics industry, such as the adoption of sensors in products and smart gadgets, are other major driving factors of the action camera market. The attractive features of action cameras such as compact size, portability, convenience, and versatility are contributing to the increased demand for these products and propelling the global market growth. The rise in disposable income and rapid growth in the popularity of adventurous activities such as skydiving, surfing, caving, and snorkeling are some of the driving factors that propel the growth of the global action camera market. 

Market Restraints

The lack of skilled professionals available in the action camera market is one of the significant restraints to global market growth. The high cost involved in the equipment, strict regulatory certifications and frameworks, and stringent regulations from the government authorities are further impeding the global market growth.

Impact of COVID-19 on the global action camera market

Coronavirus is a deadly disease caused by SARS-CoV-2, which was first registered in China. The action camera market has seen a drastic downfall during the time of lockdown, especially in the first half of 2020. The market has faced huge losses in terms of revenue as several manufacturing facilities are closed. The manufacturers of the action camera have faced challenges regarding the raw materials and laborers’ presence due to quarantine restrictions. These factors declined the growth rate of the action camera market in 2020. But with some relaxation released by the government in the last months of 2020, the market growth started to rise tremendously.  

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Action Camera Market By Technology

Among these segments, the high-definition segment accounted for 59.8% of the worldwide market share in 2022 and is expected to hold dominance during the forecast period.

The adoption of high-definition action cameras is high among sports enthusiasts and adventure seekers, which is one of the key factors boosting the growth of the high-definition segment. The growing preference from consumers to opt for high-definition action cameras considering the 4K and 1080p resolution these cameras offer, is further contributing to the segmental growth. The continuous technological advancements in high-definition action cameras are supporting the growth of the HD segment in the worldwide action camera market.

On the other hand, the ultra-high-definition segment is expected to grow at a healthy CAGR during the forecast period. The demand for ultra-definition action cameras has seen a spike from professional filmmakers and this trend is likely to fuel in the coming years and propel the growth rate of the ultra-HD segment.

Global Action Camera Market By Distribution Channel

Among these segments, the e-commerce segment has been growing rapidly in the last few years and held a share of 33.7% of the worldwide market in 2022.

The e-commerce segment is also estimated to register the fastest CAGR during the forecast period. Online sales for action cameras have increased tremendously in recent years and this trend is anticipated to grow significantly during the forecast period owing to the increasing awareness among people regarding the availability of various action cameras on online platforms and the availability of a wide range of products online. E-commerce offers extensive product information which potentially helps the customers to check their requirements and make an informed purchase decision and is one of the significant factors driving the growth of the e-commerce segment in the global market.

REGIONAL ANALYSIS

The North American region led the market in 2022, accounting for 33.9% of the global market share, and is expected to hold the dominance of the market during the forecast period.

Increased demand from consumers, rise in social media usage, and rise in per capita income, especially in some of the emerging economies such as the United States and Canada. The early tech adoption, technological innovations, and increasing number of showing interest in adventurous sports in North America are further contributing to the North American market growth. The U.S. occupied the leading share of the North American market in 2022 and the U.S. action cameras market is expected to grow at a promising CAGR during the forecast period owing to the high consumer spending on recreational and adventure activities and growing sales for action cameras through online channels.

The Asia Pacific region is growing rapidly and is expected to grow at an exponential CAGR during the forecast period owing to the rising demand for different types of innovation, increasing disposable income among people, growing adventure tourism, and compact action cameras for outdoor activities purposes. Also, factors such as the increase of investments by companies for new technological advancements in emerging countries like China and India help the growth of the market in the Asia Pacific region. China and Japan have played a dominant role in the Asia-Pacific market in 2022. The demand for action cameras is growing rapidly in emerging markets such as India and Southeast Asia, which is expected to fuel the growth rate of the Asia-Pacific market.

The European region had 26.1% of the worldwide market share in 2022 and is expected to grow substantially during the forecast period owing to the rise in disposable income and rapid growth in the popularity of adventurous activities such as skydiving, surfing, caving, and snorkeling. Europe has a strong emphasis on outdoor recreation and extreme sports, which is driving the demand for action cameras and contributing to the regional market growth. The growing interest of people in Europe in professional sports events and competitions and the increasing trend of vlogging and content creation are further propelling the European market growth. Countries such as Germany and the UK have contributed significantly to the European market recently and these countries are also estimated to grow considerably during the forecast period.

Regions such as Latin America, Middle East, and Africa are predicted to grow steadily during the forecast period and account for a moderate share of the global market.

KEY MARKET PLAYERS

Companies playing a leading role in the global action camera market include Sony Corporation, Shenzhen Arashi Vision Co., Ltd., Drift Innovation Ltd., GoPro, Inc., Eastman Kodak Company, Samsung Electronics Co, The Ricoh Company, WorldWide Licenses Ltd.–iON, Toshiba Corporation, and Xiaomi Corporation

DETAILED SEGMENTATION OF THE GLOBAL ACTION CAMERA MARKET INCLUDED IN THIS REPORT

This research report on the global action camera market has been segmented and sub-segmented based on technology, distribution channel, and region.

By Technology

• Standard Definition
• High Definition
• Ultra-High Definition

By Distribution Channel

• Brand Outlets
• Supermarkets
• Hypermarkets
• E-Commerce
• Specialty Stores

By Region

• North America
  • The U.S.
  • Mexico
  • Canada
  • Rest of North America
• Europe
  • Germany
  • Spain
  • Italy
  • UK
  • France
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America 
• The Middle East and Africa