Rise in Action Camera Market is due to Rising Popularity and User Base of Social Networking Sites
Action cameras refer to the specialized camera devices that are used to capture sports, adventures, or kinds of activities normally featuring high-paced actions. These cameras, unlike normal cameras, are simple, tough, and can be mounted on helmets, car dashboards, cycles, or can be worn on the body for capturing amazing real-life videos or images. The small size and excellent ‘point of view’ feature of action cameras has made them immensely popular among sports enthusiasts and casual users who wish to capture their adventures and share on social media platforms. Apart from being easy to operate and small, action cameras also come in handy when working in erratic conditions, extreme weathers, and underwater excursions owing to their waterproof nature and specialized design.
The major factors driving the global action camera market include the rising popularity and user-base of social networking sites such as Twitter, Facebook, and Instagram, the trend of sharing photos and videos with followers and friends, and the increasing number of vendors in the market. Owing to the entry of a number of camera device manufacturers in the action camera arena, consumers can now choose from a number of options with features suiting their needs. The intense competition has also brought down prices to a certain extent, attracting consumers in cost-sensitive regions.
One of the most popular trends in the global market is the rising popularity of bundle packages – cameras sold with necessary accessories. Being cost-effective, such packages are a hit among consumers, and have indirectly boosted sales of accessories along with action cameras.
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However, the market is expected to be constrained to a certain extent by the rising popularity of smartphones with high-end cameras. The declining prices of smartphones in-built with excellent-quality cameras are also expected to limit the growth of the global action camera market to a certain extent.
From a geographic perspective, the global action camera market is examined for Asia Pacific, Europe, North America, and the Rest of the World (RoW). North America is currently the dominant regional market in the global action camera market. The vast population of sports enthusiasts, easy access to high spending connection, and availability of technologically advanced and latest product varieties are the key factors making North America the leading regional market for action cameras.
However, the market is also witnessing increased demand in developing parts of Asia Pacific. Major factors triggering this trend include rising disposable incomes in developing countries, rising expenditure on leisure, adventure and sports activities, and the vast popularity of social media channels.
Some of the major vendors operating in the intensely competitive global action camera market are GoPro, Garmin, Sony, TomTom, Olympus, Veho, Drift and Rollei. The report presents a thorough overview of the competitive landscape of the global action camera market, complete with detailed business profiles of some of the most influential companies in the market. The report also includes details pertaining to finances, revenues, technological and product developments, and involvement in activities such as mergers and acquisitions about these companies