The report covers the present scenario and the growth prospects of the Global Action Camera market for the period 2014-2018.
The global action camera market is forecasted to grow at a CAGR of 23.83% by volume and 16.2% by value between2013 and 2018. Furthermore, the worldwide action-camera annual shipments are expected to reach nine million units in 2018 from five million units in 2013, representing a growth of more than 47% in the span of four years.
This report, Global Action Camera Market 2014-2018, covers the market landscape and growth prospects of the industry in the forecasted period between2014 and 2018.
Drivers of the market
The relative importance of outdoor pursuits, inclination to spend on the emerging CE categories and the use of social media are some of the main drivers of the action-camera market. In 2013, it was found that a majority of the sales happened for consumer applications, especially among sports enthusiasts and evidential use. The remaining sales were made for professional applications predominantly for TV production. Furthermore, since the distribution of action cameras is uniquely lifestyle-centric as opposed to CE centric ones, leading the retailers to focus around surfing, cycling and skiing, etc. and generally independent or small chains rather than being larger ones.
Despite this, the action camera industry is still in the nascent stage. The entry of new players in the market is expected to affect the price, quality and features of action cameras, which are going to prove beneficial for end-users as action cameras with enhanced features and quality are expected to be available at low prices, catalyzing the market growth.
Key players of the market
GoPro continues to maintain its position as a market leader in the action camera industry despite the large number of contenders venturing into the market. Others like the Garmin International Inc. launched VIRB, its first true 1080p action camera that is perfect for action sports as well as family vacations. The camera packs in features that make it easier to capture life’s memories and since it is rugged and waterproof, the camera is sturdy and can withstand even extreme elements. With the industry recording such huge growth prospects, the action camera market is all set to grow especially in the emerging economies of Asia Pacific as disposable income of end-users grow.
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