The global action camera market size was valued at US$ 2.3 billion in 2021. The global action camera market is projected to reach US$ 4.1 billion by 2030, registering a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2022 to 2030.
Factors Influencing the Market
The global market for action cameras is being fueled by the rise in the popularity of social media sites. In addition, the growing inclination of youth towards adventure will drive the growth of the global action camera market during the study period.
The increasing popularity of adventure sports will boost the growth of the global action camera market. Moreover, increasing penetration of smartphones with the revolution of camera technology will surge the growth of the market.
On the contrary, the introduction of low-cost cameras may limit the demand for action cameras. Rising internet penetration and camera technology improvements are also expected to create significant business prospects.
The growing popularity of outdoor activities, music festivals, extreme sporting events, and seasonal cycles are forecast to benefit the overall action camera industry.
The increasing urban population and the increasing number of photography institutes are forecast to offer ample growth opportunities for the global market.
COVID-19 Impact Analysis
The global action camera market witnessed significant challenges. The first and foremost of them was the halt in manufacturing activities.
Governments in various countries imposed high restrictions, which forced event managers to postpone or cancel the music and sports events. Thus, it hampered the market for action cameras.
The demand for action cameras also declined due to the shifting focus of everyone towards health. People across the world avoided travel in order to save themselves from the virus. Thus, it hampered the growth of the global action camera market during the study period.
Regional Analysis
Because of the increasing demand for outdoor adventure sports, North America will register the highest growth in the global action camera market. In addition, the high disposable income of the population will be another prominent factor for the growth of the region. Due to the presence of the highest number of producers in the European action camera market, Europe is projected to have a significant impact on the global camera action market.
Competitors in the Market
Market Segmentation
The global action camera market segmentation focuses on Type, Technology, End-User, Application, and Region.
By Type Outlook
By Technology Outlook
By End-Users Outlook
By Distribution Channel Outlook
By Application Outlook
Based on Region
North America
