Action Camera Global Market Report 2024

An action camera is a digital camera specifically designed for capturing immersive action photos. Typically mounted to helmets, bike or motorbike handlebars, the chest, or a tripod, these cameras feature a wider lens and are smaller, more durable, and waterproof compared to other types of cameras. Action cameras are extensively used by athletes, sports fans, and outdoor enthusiasts to document various activities and adventures.

The action camera market encompasses the sales of these cameras by entities, including organizations, sole traders, and partnerships. These cameras are compact, rugged, and waterproof, making them ideal for outdoor sports and adventures. They are widely utilized by sports enthusiasts, athletes, and hikers to capture dynamic and action-packed moments.

The action camera market research report is one of a series of new reports that provides action camera market statistics, including action camera industry global market size, action camera market regional shares, competitors with an action camera market share, detailed action camera market segments, market trends and opportunities, and any further data you may need to thrive in the action camera industry. This action camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The action camera market size has grown rapidly in recent years. It will grow from $3.81 billion in 2023 to $4.41 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth observed during the historical period can be attributed to factors such as the rise of social media platforms, an increase in outdoor activities, changes in consumer lifestyles, the widespread adoption of smartphones, and an increased use of smart devices.

The action camera market size is expected to see rapid growth in the next few years. It will grow to $7.63 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The anticipated growth in the forecast period can be attributed to the rising penetration of the internet, increasing professional activities, the growing popularity of documentaries and short films, the growth of sports and e-sports, and a rise in disposable income. Notable trends expected in this forecast period include the use of miniature sensors, the incorporation of waterproof and rugged features, the utilization of 360-degree video and virtual reality (VR), the integration of live streaming capabilities, and the incorporation of AI-enhanced features in action cameras.

The surge in extreme sports events, holidays, and music festivals is a pivotal driver for the expansion of the action camera market. These compact and versatile cameras are paramount for capturing activities ranging from sports events to music festivals. Their adaptability, allowing fixed point-and-shoot capabilities and placement in diverse settings like underwater environments or vehicle dashboards, is far more convenient than DSLR cameras. With the 2021 Holiday Travel Survey revealing a 37% increase in holiday travel among Americans aged 18 or older, totaling 161 million adults, the demand for action cameras is anticipated to escalate in response to the rising participation in such events.

Anticipated growth in travel and tourism is a significant factor set to propel the action camera market. These cameras are well-suited for the tourism sector due to their compactness, lightweight build, and durability, perfect for recording various adventures. As per the US Department of Commerce 2021 Highlights, international arrivals in US states for travel and tourism surged to 22.1 million in 2021, marking an upsurge from 19.2 million in 2020. This increased travel trend is contributing to the burgeoning demand for action cameras.

Digital evolution and the incorporation of IoT stand out as predominant trends gaining momentum within the action camera market. Industry leaders are emphasizing the integration of visual computing, artificial intelligence (AI), and edge computing in smart action camera models to enhance productivity and user convenience. This technological advancement enables an ecosystem for remote access, data downloading, and collaborative usage of action cameras with external devices. Hero Electronix's introduction of the Qubo Smart Dash Cam in May 2022 illustrates this trend, featuring built-in G-sensors, AI capabilities for automatic event file generation, and a mobile app accessible across Android and iOS platforms. Additionally, Hero Electronix's vision to create a connected device ecosystem showcases plans to launch smart sunglasses and innovative action cameras, contributing to the realm of IoT-oriented smart devices.

Leading enterprises in the action camera industry are dedicated to introducing innovative products like the Go 3 to cater to customer needs effectively. The Go 3 is an advanced action camera launched by Insta360 in June 2023, presenting a compact and lightweight waterproof design. Notable for its magnetic feature, the camera can be effortlessly mounted anywhere. It captures high-quality video at 2.7K resolution and offers flowstate stabilization for steady and shake-free footage. The inclusion of an Action Pod equipped with a flip touchscreen enables remote control and live preview and extends the battery life to support over 2 hours of continuous recording.

In August 2023, GoPro Inc., a prominent technology firm based in the United States, established a partnership with MotoGP Ignition. This collaboration is aimed at delivering compelling content to engage race enthusiasts with a novel, high-resolution perspective using action cameras. MotoGP Ignition, based in Spain, specializes in racing management solutions and will contribute to enhancing the viewer experience through this partnership.

Major companies operating in the action camera market include GoPro Inc., Garmin Ltd., Nikon Corporation, Sony Corporation, Veho World Limited, 360fly Inc., Activeon Inc., AEE Technology Inc., Akaso, Apeman Global, Brinno Inc., Campark, Crosstour, SZ DJI Technology Co. Ltd., Drift Innovation Ltd., Shenzhen Arashi Vision Co. Ltd., ISAW Camera Inc., JVCKENWOOD Corporation, Eastman Kodak Company, Mokacam Technology Co. Ltd., Monoprice Inc., Olympus Corporation, Polaroid Corporation, Ricoh Company Ltd., Shenzhen Hongfeng Century Technology Co. Ltd., Shenzhen ThiEYE Technology Co. Ltd., TomTom International BV, Shenzhen Jiehe Technology Development Co. Ltd., VTech Holdings Limited, Shanghai Xiaoyi Technology Co. Ltd.

North America was the largest region in the action camera market in 2023. The regions covered in the action camera market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the action camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The action camera market consists of sales of body-worn cameras, dash-camera, Refcam, underwater cameras, and 360 cameras . Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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