Action Camera & Accessories Market Worth $6.58 Billion by 2027, Growing at a CAGR of 13.5% From 2020 - Exclusive Report by Meticulous Research®
15 Jun 2021
Redding, California, June 15, 2021 (GLOBE NEWSWIRE) -- According to a new market research report “Action Camera & Accessories Market by Product Offering (Action Camera, Accessories), Technology (Full HD, Ultra HD), Frame Rate (31-60, 61-120 fps), Distribution Channel (Online, Offline), End User (Personal, Professional), and Application (Sports, Travel & Tourism)– Global Forecast to 2027”, published by Meticulous Research®, the action camera & accessories market is expected to grow at a CAGR of 13.5% from 2020 to 2027 to reach $6.58 billion by 2027.
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The demand for action cameras has grown significantly in recent years due to their high utilization in adventure sports and other outdoor activities. Consumers in the sports industry use action cameras mainly for recording live sports events to evaluate performance. In addition, increasing tourism and growth in travel blogging globally are driving the growth of the action cameras market. The development of the tourism industry has propelled the adoption of action cameras among individual and group travelers. However, the availability of smartphones with high-resolution and wide-angle cameras has negatively impacted the demand for action cameras in recent years.
The global action cameras market is mainly segmented by product, resolution, frame rate, distribution channel, end user, application, and geography.
Based on product type, the action cameras market is segmented into cameras and accessories. In 2020, the cameras segment accounted for the largest share of the overall action cameras market. The largest share of this segment can be attributed to the growing demand for action cameras in the sports and travel & tourism industries.
Based on resolution, the global action cameras market is segmented into full HD, ultra HD, and SD action cameras. In 2020, the full HD segment accounted for the largest share of the overall action cameras market. This is mainly attributed to the high demand for full HD cameras across all application sectors to record high quality and stable videos while performing the activities.
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Based on frame rate, the action cameras market is segmented into 15–30 fps, 31–60 fps, 61–120 fps, and 121–240 fps. In 2020, the 31–60 fps segment accounted for the largest share of the overall action cameras market. However, the action cameras with 61-120 fps segment is expected to grow at the highest CAGR from 2020-2027 in terms of revenue and volume. This can be attributed to the benefits of high frame rate cameras, such as smooth video capturing, better animations, lower distracting filters, and more clarity than the standard & low frame rates.
Based on distribution channel, the action cameras market is segmented into online and offline channels. In 2020, the online segment accounted for the largest share of the overall action cameras market. Consumers worldwide are switching to online purchases due to huge discounts, availability of several options, review based shopping, and home delivery benefits.
Based on end user, the action cameras market is segmented into personal and professional end users. In 2020, the personal segment accounted for the largest share of the overall action cameras market.
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Based on application, the action cameras market is segmented into sports, travel & tourism, recreational activities, media & entertainment, automotive, emergency services, and other applications. In 2020, the sports segment accounted for the largest share of the overall action cameras market. However, the travel & tourism segment will witness the highest CAGR from 2020 to 2027 in terms of revenue and volume due to the increased travel blogging and adventure tourism activities worldwide.
Geographically, the global action cameras market is segmented into North America (U.S., Canada), Europe (Italy, U.K., Germany, France, Spain, Italy, Switzerland, Russia, and RoE), Asia-Pacific (China, Japan, India, Australia, South Korea, Singapore, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM) and the Middle East & Africa (UAE, Saudi Arabia, South Africa, and RoMEA). North America is expected to dominate the global action cameras market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The key players operating in the global action cameras market are GoPro, Inc. (U.S.), Sony Corporation (Japan), Insta360 (Arashi Vision Inc.) (China), SJCAM Limited (China), JVCKENWOOD Corporation (Japan), TomTom International BV (Netherlands), Garmin Ltd. (U.S.), SZ DJI Technology Co., Ltd. (China), Drift Innovation Ltd (U.K.), YI Technology, Inc. (China), Eastman Kodak Company (U.S.), Nikon Corporation (Japan), Rollie GmbH & Co. KG (Germany), Panasonic Corporation (Japan), and Xiaomi Corporation (China).
To gain more insights into the market with a detailed table of content and figures, click here:
Scope of the Report
Action Camera & Accessories Market, by Product Offering
Action Camera & Accessories Market, by Technology
Action Camera & Accessories Market, by Frame Rate
Action Camera & Accessories Market, by Distribution Channel
Action Camera & Accessories Market, by End User
Action Camera & Accessories Market, by Application
Action Camera & Accessories Market, by Geography
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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