According to a new market report published by Acute Market Reports Inc “Action Camera Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2026,” is expected to witness considerable growth throughout the forecast period due to its benefits such as enhanced quality and ease of use compared to digital cameras. Increasing income level and growing popularity of adventure activities such as skydiving, paragliding, bungee jumping, surfing, BASE jumping, rock/mountain climbing, scuba diving, snorkeling, caving, surfing, skiing and wakeboarding are increasing the demand for action cameras to capture life time experience during these recreational activities. In addition, shifting trends towards photography, adventure activities and sharing photos and videos on social networking is also supporting the growth of action camera market.
Benefits of action camera such as small size without compromising on quality and hands free operations which are motivating its sale over traditional digital cameras. In addition, action cameras allows users to shoot videos with first person perspectives which is increasing its demand in recording of adventure activities such as skiing, rock climbing, surfing and other activities. In order to increase the brand loyalty manufacturers are focusing on adding cloud computing services to expand media functions of their action camera solutions. Moreover, manufacturers are offering attractive package solutions with necessary accessories required for action camera. This cost effective solutions are attracting consumers. The action camera market is facing challenge from continuous growth in smartphones with high quality camera features. The global market for action cameras is expected to cross US$ 10.25 Bn by 2026 at a CAGR of 12.6% throughout the forecast period from 2018 to 2026.
North America is the largest market for action cameras. U.S. is the largest individual market for action cameral globally. Huge number of sports enthusiast people along with high spending capacity is increasing the demand for action cameras in U.S. Asia Pacific is expected to witness the fastest growth throughout the forecast with increasing spending on leisure and adventure activities and increasing income level boosting the demand for action cameras in major markets in the region including China, Japan, India, Southeast Asian countries and other emerging markets.
The global action camera market is highly competitive and dominated by the recognized players such as GoPro Inc, Sony Corp, Garmin Ltd, Olympus Corp, TomTom N.V., Rollei GmbH & Co. KG, Veho, Drift and others. High capital investment and strong research and development capabilities are required are limiting new entrance in this capital intensive industry. In addition, leading brand successfully created considerable base of loyal customers in the global market. In order to attract customers in this competitive environments, new entrant has to introduce innovating product offerings at attractive pricing.
Browse the full report at https://www.acutemarketreports.com/report/action-cameras-market
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