Global Action Camera Market to Grow at a CAGR of Almost 15% Through 2021- Forecasts by Technavio
May 22, 2017 11:03 AM Eastern Daylight Time LONDON–(BUSINESS WIRE)–According to the latest market study released by Technavio, the global action camera market is expected to reach USD 5,810 million by 2021. This research report titled ‘Global Action Camera Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global action camera market is expected to witness a high growth during the forecast period because of the growing fascination of individuals to capture adventurous activities on camera. Action cameras are imbibed with advanced features, which helps the users to capture high-speed movement both as stills and as videos. The other factors that are driving the growth of the action camera market are increased penetration of social media sites such as Facebook, YouTube, and Instagram and the growing popularity of adventure sports.
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Technavio’s analysts categorize the global action camera market into the following segments by technology. They are:
- Ultra HD action camera
- Full HD action camera
- HD action camera
- SD action camera
The top three segments by technology for the global action camera market are discussed below:
Ultra HD action camera
The market for the ultra HD camera is expected to reach USD 3,260.57 million by 2021. The demand for better viewing angles in the broadcast industry is a major factor propelling the growth of the global Ultra HD action camera market. Popular sports events such as Cricket World Cup and Olympics makes use of these cameras.
According to Ujjwal Doshi, a lead consumer electronics research analyst from Technavio, “One of the fastest-growing segment of the TV shows industry is the reality shows. These shows need high-profile action cameras as they require different viewing angles. With the reality shows market growing tremendously, the global Ultra HD action camera market will witness a similar traction.”
Full HD action camera
The revenue for the global full HD action camera is expected to reach USD 2,202.57 million by 2021. Security and surveillance industry mostly use these cameras mainly because it has high clarity of recorded video contents, even if shot at night. The high clarity of Full HD cameras is enough to serve the purpose of recording videos and taking still pictures for security and surveillance purpose, making the penetration level high in the segment.“The use of Full HD action cameras is trending in TV shows as Ultra HD cameras are costlier compared to the former. The adoption of Full HD cameras is also increasing among residential users as they are rapidly upgrading their HD cameras to Full HD,” adds Ujjwal.
HD action camera
In terms of shipment, the HD action camera recorded the largest share in the year 2016. This is mainly because of its high penetration rate in developing countries such as China and India. The high population of these countries, with most them belonging to the middle-class population, is the major factor for the high adoption of HD action cameras.Technavio research analysts, however, predict the market for HD action camera to decline during the forecast period, falling at a CAGR of over 3%.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Drift
- Garmin
- GoPro
- iON
- Rollei
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