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The action cameras are digital cameras used for recording videos while doing activities, usually outdoor adventure sports. They are compact, portable, waterproof, shockproof and crushproof making them extremely suitable for capturing activities such as skiing and surfing.
CMOS sensors are used in these cameras to allow them to take photos in different modes such as time lapse.
Extreme sports events, holidays, seasonal cycles, and music festivals are the key factors driving the demand for action camera market across the globe. The rising popularity of action camera market in professional activities along with outdoor adventures is fuelling the demand for action camera market. Technological progress in the consumer electronics domain such as inclusion of AI and VR techniques in cameras is contributing significantly to the growth.
Evolution in the consumer electronics industry such as miniaturization of sensors and extensive use of smart gadgets is anticipated to positively impact the market growth. Features such as portability, convenience, compact size, and versatility have resulted in driving the market. The new generation of action camera market often have add-ons that allow for Wi-Fi and other functions that connect action camera users with other devices.
Action camera market possess a wide-angle lens for capturing the view as desired since 4K resolution offers high-end video quality. The suitability of a video resolution highly depends on usage of the camera and devices used in foreseeing the captured image. In addition, availability of semiconductors and sensors in the making of camera units enhances the production process thus resulting in a better-quality product. Miniaturization of chips and selection therefore influences the type and format of resolution for these devices.
The Ultra HD (UHD) segment is anticipated to witness a high CAGR as it offers several advantages to the user. For instance, shooting in UHD delivers flexibility in standard definition and high definition. Commercial accessibility for advanced devices with UHD features is significantly driving the demand. Consumer preference for shooting in 4K/UHD over 1080p or 720p remarkably contributes to growth of the segment.
The main factors that are helping action camera market to grow are:
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There are few challenges that may restrict the growth of the market:
The different types of action cameras offered in the market are:
Box style segment is expected to show tremendous growth among all the other types. The main reason for its popularity is the various features it offers making it suitable for different uses. The cube style has the second largest market. It is compact and portable making them suitable for outdoor activities.
The market can be segmented as follows based on end users :
The personal applications hold a greater market share than professional applications as the trend to post on social media by Gen Y and Gen Z has gained prominence during the last decade.
The market can be segmented as follows based on technology offered via these cameras:
The Ultra high definition technology will show growth in the next 5 years as these help to capture adventure sports such as scuba diving in high quality.
The different channels through which these cameras are being sold are :
Currently, the e-commerce channel is offering the highest volume of sales as there has been a higher penetration of internet services. The online websites offer a variety of options of the consumer to choose from. This makes comparison easier and convenient.
The regional segmentation can be done as follows:
North America currently dominates the market owing to the high disposable per capita income, presence of key players, popularity of adventure sports and high usage of social media. Europe is also a prominent market and is expected to record the highest CAGR in the coming years.
It is forecasted that Asia Pacific region will experience a high growth in demand for action cameras due to their demographic structure with a considerable population belonging to Gen Y and Z who demand compact cameras for outdoor shoots. In the Asia- Pacific region water sports are becoming extremely common adding to the demand.
The DJI Action 2, an update to the original DJI Action, was just released, according to a press release from DJI. The Action 2 was built by DJI with an adaptable and flexible magnetic design that can accept a variety of framing, shooting, and monitoring attachments.
The Action 2 weighs 56 grammes and is both lighter and more powerful than the first Action camera. The Action 2 may be utilised for a variety of activities, including riding, surfing, and vlogging thanks to its modular design and associated accessories.
DJI claims that the Action 2 is waterproof and dustproof, making it perfect for outdoor activities and extreme sports. A 1/1.7-inch sensor with a 155 degree super wide field of vision can capture 4K video at up to 120 frames per second and can capture more of a scene.
The camera also has DJI’s Electronic Image Stabilization technology to keep footage smooth. The Color Temperature Sensor is intended to retain colour tones in challenging lighting situations and underwater recording.
Other video features include support for livestreaming, Slow Motion, Hyperlapse, and Timelapse, as well as QuickClip for recording quick films. The Action 2 may also be used with a computer as a USB video device class for conference calls and live gaming broadcasts.
The Osmo Action 4 tiny action camera has just been released, according to DJI, the global pioneer in creative camera technology. Users of this cutting-edge device will enjoy the best image and video quality possible because it is built to be utilised in tough, high-intensity conditions.
The newest member of DJI’s Osmo line of cameras is the Osmo Action 4, which has a number of new technological innovations to improve user experience. A sturdy waterproof construction is a hallmark of the Osmo Action 4.
It is suitable for usage in streams, the ocean, and other wet areas because it is waterproof up to 36 feet. The camera can tolerate any activity because it is dustproof, shockproof, and temperature- and vibration-resistant.
Dual screens and an easy-to-use interface are other advantages of the Osmo Action 4. It is simple to alter settings and preview pictures or movies thanks to the big rear touch display and small front display. To let users know when they have engaged the controls, the rear touch display also features haptic feedback.
A variety of shooting modes, including Hyperlapse, Time-Lapse, and Motion Lapse, are also included in the camera, allowing users to explore their creative side. To improve the user experience, the Osmo Action 4 also comes with a number of accessories.
A smartphone app that enables users to operate the camera from their phone or tablet is one of these, along with a remote control and mounting choices. The camera also includes a variety of filters for taking artistic photos.
The new GO 3 action camera from Insta360 was just released, and it has an amazing combination of a small form factor, lots of flexibility, and a highly powerful feature set that could be useful for skiers.
The GO 3 builds on the popularity of the GO2, which had a small form factor and a charging pod that allowed users to quickly recharge it in their pocket without having to plug it in. The Action Pod on the GO 3 does much more than just charge.
Additionally, it has a touch screen that may be used to preview images and operate the camera, both with and without the camera connected in. It should be easier to set up the increasingly popular third-person POV pictures with this advice. Without having to take out their phone and sync it with the camera, skiers can use the Insta360 GO 3 to check that their shot is properly framed and that everything is looking nice.
In addition to being weatherproof, the Pod is waterproof up to 5 metres. The new GO 3 boasts an improved battery life, with a stated 45 minutes with just the camera and 170 minutes with the Pod’s energy, even if the new modular Action Pod is the main feature. The camera has an Insta360 FreeFrame mode that enables users to just record footage and then edit and trim it later.
Like many other markets, the global action camera market had been negatively impacted during the coronavirus pandemic. There has been loss in revenue and many producers globally stopped their production completely. The main issues that this market faced were :
However, many people are now using action cameras to capture the different activities that they are doing at home which is helping this market to revive demand.
The COVID-19 pandemic has severely impacted the action camera & accessories market worldwide. The adoption of action cameras was low across all the regions during the first & second quarter of 2020 due to strict lockdowns imposed in several countries and the halt of tourism & adventure sports activities.
Companies had put a temporary halt on manufacturing cameras & accessories to prevent the spread. Consumers invested their spending on essential commodities & activities, such as food supply, medicines, and grocery, instead of leisure, adventure tourism, sports, and entertainment activities.
The demand for cameras & accessories declined in 2020 as consumers could not travel & perform public sports such as racing, water sports, etc., which resulted in fewer blogging & vlogging activities globally.
The market is expected to gain pace in 2021 and 2022 with the removal of lockdowns, a steady reopening of the tourism & sports sector and consumer awareness related to social distancing maintenance while performing all activities.
RECENT TECHNICAL ADVANCEMENT IN ACTION CAMERA MARKET
Better Resolution and Frame Rates: 5K and 6K video recording choices are now available on action cameras, allowing for even better resolution alternatives. They can also capture smooth slow-motion video at greater frame rates, including 240 frames per second (fps).
Advanced Image Stabilization: The use of cutting-edge electrical or optical stabilization technologies has increased the image stabilization capabilities of action cameras. These improvements contribute to a further reduction in camera wobble and guarantee steady video even during fast-paced action scenes.
Live streaming: A lot of action cameras now provide live streaming directly to well-known websites like Facebook, Instagram, and YouTube.Users can share their travels in real-time with friends and followers by connecting their cameras to Wi-Fi or cellular networks.
High Dynamic Range (HDR) footage: Action cameras now frequently include the ability to record HDR footage.More colorful and aesthetically pleasing film is produced thanks to this technology’s ability to capture a larger variety of colors and features in both bright and dark portions of the frame.
Action cameras now frequently include voice control functions built-in, allowing for hands-free use.Voice commands can be used to select modes, snap pictures, start/stop recording, and conduct other actions on the camera.
GPS and Telemetry Information: Some action cameras have in-built GPS receivers that enable geotagging of images and videos.They can also capture telemetry information, such as speed, altitude, and location, giving users more details about their actions.
Action cameras are now made to survive larger underwater depths thanks to increased waterproof depth.Some variants enable for underwater photography and videography at greater depths of up to 30 meters without the use of additional housing.
Enhanced Connectivity: The connectivity options for action cameras have been increased. In order to facilitate quicker file transfers and remote control functions, they now include faster Wi-Fi connectivity. For smooth pairing with other devices, certain versions also offer Bluetooth and NFC (Near Field Communication).
Advanced Editing Features: Manufacturers provide action camera users editing software and mobile apps that are more complete and user-friendly. With the help of these tools, users can easily produce films with a professional appearance thanks to a variety of editing choices, such as filters, color grading, picture stabilization, and multi-camera synchronization.
Integration with Smart Devices: Action cameras are becoming more and more integrated with ecosystems and smart devices. Remote control, live preview, and simple file sharing are all made possible by their ability to link and sync with smartphones, tablets, and smartwatches.
The key players are focusing on various research and development activities to improve technology and offer better products. Due to their high investment capabilities, they are able to come up with more innovation. The use of AI and biometrics is helping these players bring about product differentiation. The major strategies followed by the key market players are mergers and collaborations along with new product launches
Gopro’s Revenue for Q2 2021 was $250 million, compared to $134 million in Q2 2020, up 86% year-over-year. Q2 2021 GAAP net income was $17 million, compared to a net loss of $51 million in Q2 2020. Non-GAAP net income was $20 million, compared to a net loss of $30 million in Q2 2020. Q2 2021 marked the fourth consecutive quarter of non-GAAP profitability.