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$ 2.02 Billion growth expected in Action Camera Market | 10.70% YOY growth in 2021 amid COVID-19 Spread | North America to Notice Maximum Growth | Technavio
NEW YORK, May 4, 2021 /PRNewswire/ -- The global action camera market by technology (ultra HD and HD), end-user (commercial and residential), distribution channel (online and offline), and geography (North America, Europe, APAC, South America, and MEA) has been added to Technavio's offering. The global action camera market is expected to grow by USD 2.02 billion. However, the growth momentum is expected to decelerate at a CAGR of over 10% during 2021-2025.
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The imposition of lockdowns negatively affected and delayed the manufacturing of action cameras, which, in turn, hampered their sales in 2020. However, the market is expected to recover in 2021 with the implementation of social distancing measures and the increased availability of action cameras in online distribution channels.
The market is expected to be driven by factors such as the growing popularity of social networking sites, the increasing popularity of action cameras, and the high growth in adventure tourism.
The report also offers information on the upcoming trends and challenges that will influence market growth.
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Action Camera Market: Opportunities
The Middle East and Africa is the smallest market for action cameras. However, the region is witnessing a rise in the number of biking tournaments, such as the UAE Road Cycling Championship, Arabian Epic Series XCM2, and Coast to Coast Cycle Challenge. These events have a high demand for better viewing experiences, which is encouraging major vendors to enter the market and tap the growth potential. Also, the growing popularity of adventure tourism in Africa is expected to drive the demand for action cameras during the forecast period.
Action Camera Market: Segmentation by Technology
Based on the segmentation by technology, the market generated maximum revenue in the ultra HD segment in 2020. The segment is driven by the increasing demand for better viewing angles in the broadcast industry. Also, the rising popularity of reality TV shows will contribute to the growth of the segment during the forecast period.
Action Camera Market: Segmentation by Geography
North America held the largest market share in 2020 and the market growth in the region is expected to be slower compared to the growth of the market in other regions. The growth of the market in North America can be attributed to the increase in the usage of action cameras by sports broadcasters. The market growth in the region will be maximum over the forecast period.
One of the fortune 500 companies had used the detailed research report on the action camera market and had decided to increase their market share in the North American region which offers the highest market opportunities during the forecast period.
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Action Camera Market: Major Vendors
Sony Corp.
The company offers TV and audio & video, still and video cameras, and mobile communications. The company offers action cameras such as FDR-X3000, FDR-X3000R, HDR-AS300, and HDR-AS300R.
Toshiba Corp.
The company offers storage and electronic device solutions. The company offers action cameras such as Toshiba Camileo X-Sports.
Xiaomi Corp.
The company offers action cameras such as FIMI PALM Gimbal 4K, MADV 360° Sphere Panoramic Caera, Yi 360° VR Camera International, and others.
C&A Marketing Inc.
The company offers instant cameras, digital cameras, and action cameras. The company offers action cameras such as the Polaroid Mint Camera.
Olympus Corp.
The company offers digital cameras and voice recorders. The company offers action cameras such as Stylus TG-Tracker.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the action camera market report:
Regional Analysis
- Further breakdown of the market segmentation at requested regions.
Market Player Information
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
- Know the strategies adopted by vendors during the COVID-19 Recovery Phase.
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Executive Summary
Market Landscape
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Technology
- Market segments
- Comparison by Technology
- Ultra HD - Market size and forecast 2019-2024
- HD - Market size and forecast 2019-2024
- Market opportunity by Technology
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Commercial - Market size and forecast 2019-2024
- Residential - Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Online - Market size and forecast 2019-2024
- Offline - Market size and forecast 2019-2024
- Market opportunity by Distribution channel
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver - Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Casio Computer Co. Ltd.
- Eastman Kodak Co.
- Garmin International Inc.
- GoPro Inc.
- JVCKENWOOD Corp.
- Panasonic Corp.
- PLR IP Holdings LLC
- Sony Corp.
- TomTom NV
- Xiaomi Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Report: www.technavio.com/report/action-camera-market-industry-analysis
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