Action Camera Market, By Resolution (Full HD, Ultra HD, Standard Resolution) By Distribution (Online, Retail) By Application (Emergency Services, Sports, Recreational Activities, Others) opportunities and forecast 2020-2026. Extreme sports events, seasonal cycles, holidays, and music festivals are key factors propeling the demand for action camera around the globe. In addition, increasing popularity of action cameras in professional activities along with the outdoor adventures is also powering the demand for such cameras.
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Evolution in the consumer electronics sector such as extensive use of smart gadgets and miniaturization of sensors is expected to positively impact market growth. Features such as transportability, convenience, versatility and compact size, have resulted increased market growth. The new generation of cameras often have add-ons which allow for Wi-Fi and various other functions to connect users with the other devices. Moreover, these cameras are designed to shoot the videos with first-person perspective, giving viewers a personal view into events such as rock climbing, surfing, and skiing.
Action cameras have wide-angle lens for capturing view as preferred since 4K resolution provide high-end video quality. Suitability of a video resolution extremely depends on usage of camera and other devices used in foreseeing captured image. Additionally, availability of sensors and semiconductors in the making of the camera unit increases the production process hence resulting into better-quality product. Reduction of chips therefore influences the format and type of resolution for these devices.
The Ultra HD segment is projected to witness high CAGR as the product offers numerous advantages to user. For instance, shooting in ultra UD delivers flexibility in high definition and standard definition. Commercial availability for advanced devices with the UHD features is considerably driving the demand. Customer preference for shooting in the 4K/UHD over 1080p or 720p contributes in growth of segment.
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North America lead the market in 2019 owing to high disposable income and growing popularity of various adventure activities such as skydiving, bungee jumping, and paragliding in region. Media coverage for sports is booming industry in U.S. as regional market is witnessing surge in demand for the professional cameras with wide storage facility. Moreover, considerable investments in R&D for development of the advanced versions is further supporting regional growth.
Europe is projected to gain significant traction in global market as some big players are introducing their products for European markets. Motorola One Action launched 117-degree the wide action camera in 2019. The product focusses on video recording with wide-angle lens. Regarding, the product, primary camera with the 12MP can record up to the 4K resolution, while secondary comes with 5MP.
The global action camera market is categorised by the presence of large number of players in market. New product launch is key strategy opted in recent past by prominent players operating in market. However, owing to high growth potential, numerous players have started providing the cloud storage services for camera to capitalize on market opportunities. For instance, in 2019, GoPro presented HERO8 Black, is highly versatile and blended features from the earlier versions.
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