According to a new report Global Action Camera Market, published by KBV Research, The Global Action Camera Market size is expected to reach $8.9 billion by 2025, rising at a market growth of 18.3% CAGR during the forecast period. The primary drivers of the global action camera market are the increasing popularity and user base of social networking sites including Facebook, Twitter, and Instagram, the trend of sharing photos and videos with followers and family, and the growing number of industry vendors.
Retail channels have the majority share of the action camera market as consumers prefer to personally check the equipment and its features. The growing need for channel partners to streamline the sales strategy has a significant effect on the market. Retail business also requires high customer retention due to a nominal charge for aftermarket operation. Additionally, retail outlets can have a combination of accessories and cameras or deal in both categories individually. The Online market is anticipated to grow at a CAGR of 21.3% during (2019 - 2025).
The sports segment represented a higher market share, which can be attributed to an increase in the number of adventure sports and high media exposure. Increasing the number of sports enthusiasts including surfing, skiing, skateboarding, climbing, skydiving, biking, bicycling and racing, among other sports is further increasing market demand. The Recreational Activities market is expected to witness a CAGR of 17.6% during (2019 - 2025). The Emergency Services market is experiencing a growth rate of 21.9% during (2019 - 2025).
Due to the high disposable income and growing popularity of adventure sports such as bungee jumping, skydiving and paragliding in the area, North America dominated the market in 2018. Media coverage of adventure sports is a booming industry in the U.S. as there is a growing demand for professional cameras with large storage facilities on the regional market. The Europe market is expected to witness a CAGR of 17.4% during (2019 - 2025). Additionally, The Asia Pacific market is would witness prominent CAGR of 20.3% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/action-camera-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Xiaomi Corporation, Garmin Ltd., GoPro, Inc., Nikon Metrology NV (Nikon Corporation), Olympus Corporation, Panasonic Corporation, Sony Corporation, TomTom N.V., Drift Innovation Ltd., SJCAM Limited.
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