According to a new report published by UnivDatos Markets Insights, the Action camera Market is expected to grow at a CAGR of around 11.1% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the Action camera Market is expected to grow at a CAGR of around 11.1% from 2022-2028. The analysis has been segmented into End Use (Professional, Personal); Type (Box Type, Cube Type, Bullet Type, Periscope & 360°, And Others); Resolution (Standard Definition, High Definition, And Ultra HD; Region/Country.
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The action camera market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the action camera market. The action camera market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the action camera market at the global and regional levels.
Market Overview
An action camera is defined as a digital camera designed for recording action while being immersed in it. In recent years, the demand for the action camera has risen dramatically due to the growth of the global action camera market sector due to various advantages that allow standard comparison of multiple shooting points by DSLR. The action camera includes many features such as B. Record 4K video recording.
The Action camera Market is expected to grow at a steady rate of around 5% owing to the growing focus and investment of key stakeholders in the research and development of technologically advanced action cameras is further expected to support market growth. For instance, In January 2020, Insta360 introduced One R Convertible Action Camera. It was waterproof that can be used as a 360-degree capture device and can be also used as a standard action camera.
Some of the major players operating in the market include Nikon Corp, GoPro Inc, Olympus Corp, Garmin Ltd., Rollei GmbH & Co. KG, Sony Group Corp, SZ DJI Technology Co., YI Technology, Drift Innovation, Eastman Kodak Co.
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COVID-19 Impact
Due to the COVID-19 outbreak, most countries have imposed lockdowns and curfews, which have greatly impacted lifestyles, health and well-being, sports, and outdoor activities, hindering the growth of the action camera industry to some extent. The impact on sports and adventure activities has been complex and diverse. Sports leagues and sports mega-events have been postponed or canceled, which is expected to negatively impact market growth under the pandemic conditions.
The global action camera market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on end use, the market is segmented into professional, and personal. Personal category to witness significant CAGR during the forecast period. This is due to the growing popularity of social media. Many amateurs as well as professionals have started uploading and posting videos of their adventures and life experiences, fueling the growth of the segment.
· On the basis of type, the market is categorized into box type, cube type, bullet type, periscope & 360°, and others. Among these, the bullet type to hold a significant share of the market in 2020. This is mainly due to the advantages such as long-range visions, and designed for security applications. Thus, the name comes from the small size of these cameras resembling bullets.
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Action camera Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the increasing recreational expenditure and the rising number of social media events driving the region’s action camera market. In addition, action cameras are very useful in activities, such as nature exploration, hiking, skydiving, and other outdoor exploration. Thus, growing participation in outdoor recreational activities has been a major driving factor in the market. Moreover, substantial investments in R&D activities for the development of advanced versions are also supporting regional growth. Moreover, it is expected that the market will continue to grow at a steady rate during the forecast period owing to the high-income levels of the consumers in the region.
The major players targeting the market include
· Nikon Corp
· GoPro Inc
· Olympus Corp
· Garmin Ltd.
· Rollei GmbH & Co. KG
· Sony Group Corp
· SZ DJI Technology Co.
· YI Technology
· Drift Innovation
· Eastman Kodak Co.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Action camera market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the action camera market?
• Which factors are influencing the Action camera market over the forecast period?
• What are the global challenges, threats, and risks in the action camera market?
• Which factors are propelling and restraining the action camera market?
• What are the demanding global regions of the action camera market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights
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