Action Camera Market Size, Share, Growth Analysis, By Type(Box Style, Cube Style, Bullet Style, Periscope), By Resolution(Ultra HD, Full HD, Standard Resolution), By Technology(Ultra HD, Full HD, HD, SD), By Distribution Channel(Online, Offline), By Application(Sports, Recreational Activities, Emergency Services, Others), By End-User(Personal, Professional), By Region - Industry Forecast 2024-2031

Action Camera Market size was valued at USD 2951 million in 2019 and is poised to grow from USD 3284.46 million in 2023 to USD 8608.37 million by 2031, growing at a CAGR of 11.3% in the forecast period (2024-2031).

The market is differentiated by the presence of a significant number of market participants. The key strategy adopted in recent years by the market's prominent players has been the launch of new products. However, in order to capitalize on the strategic initiatives, several players have begun providing cloud storage services for action cameras. For instance, FeiyuTech introduced the FeiyuPocket 2S and FeiyuPocket 2, two new portable gimbal cameras with eye-catching features for videographers. The FeiyuPocket2S is the flashier of the two, with a magnetically detachable head and handles that allow users to experiment with a variety of shooting angles. Its magnetic features also allow it to be worn and mounted, expanding the possibilities for action camera-style POV shooting and making it a useful helmet camera option. 'Go Pro', 'Sony Corporation', 'Garmin Ltd.', 'Xiaomi Corporation', 'Canon Inc.', 'Panasonic Corporation', 'Nikon Corporation', 'TomTom International B.V.', 'SJCAM Limited', 'Drift Innovation Ltd.', 'Contour, LLC', 'iON Worldwide LLC', 'Olympus Corporation', 'Polaroid Corporation', 'Ricoh Company, Ltd.', 'Sioeye, Inc.', '360fly, Inc.', 'YI Technology, Inc.', 'Kaiser Baas Pty Ltd.', 'Veho Muvi'

The growing use of social media platforms is propelling the action camera market

The rise in extreme sports events, vacations, and music festivals is propelling the action camera market forward. Action cameras are commonly used to record sporting events, vacation musical events, and a variety of other activities such as surfers, roller skating, snowboarding, lifting, bungee jumping, bicycle racing, biking, and other sports. Because of its fixed point-and-shoot model, an action camera is more convenient than a DSLR (digital single-lens reflex camera). They can be placed anywhere to capture high-quality videos and photos, from a dashboard to underwater. Because of the increase in extreme sports events, vacations, and music festivals, there will be a significant demand for action cameras. According to the 2021 Holiday Travel Survey conducted by a US-based travel planner, The Vacationer, to find the number of Americans who will make the journey this starting come holiday period (Thanksgiving and late December holidays), nearer to 63% of all Americans aged 18 or older (161 million adults) are expected to travel for at least one holiday in 2021, representing a 37% increase over last year's survey. It demonstrates that the number of holidays is increasing. As a result, the rise in extreme sports events, vacations, and music festivals is expected to fuel the growth of the action camera market.

During the forecast period, North America is expected to have the largest market share. The United States is a significant contributor to the region's action camera market growth, the region's high disposable income, and the growing popularity of adventurous activities such as sky diving, bungee jumping, and boating. The media coverage of adventure sports is a thriving industry in the United States, as the regional market sees a rise in demand for a camera systems with large storage capacities. Furthermore, significant investments in R&D activities aimed at the creation of advanced versions are supporting regional growth. Furthermore, the major trend observed in the United States that affects the market in the region is a shift in consumer behavior from digital to action cameras.