Action Camera Industry Set For 22% CAGR Through 2023

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Action camera market size is anticipated to grow at a CAGR of over 22% from 2016 to 2023. Personal action camera market share equated to roughly 75% of the total revenue in 2015. GoPro accounted for over 45% of the overall action cam industry in 2015.

U.S. action camera market size led regional demand, and is expected to continue its top spot over the forecast period. The increased application of these devices for capturing action sports and activities is probable to drive action camera market growth. They are mostly attached to surfboards, handlebars and helmets, and are also an important part of extreme sports.  Things like wing-suit flying and base jumping…just for starters.  At times, multiple cameras are used to capture various perspectives and you can see examples with videos dealing with auto enthusiasts or fast paced scenes having multiple angles.

“Introduction of new players in the industry is expected to benefit customers…”

A helmet camera is used to capture the actor’s perspective in combination with another camera that is attached to the rider’s environment, such as a wing, board, wrist or handlebar. Features offered include compact size, light weight and high amount of convenience while mounting on vehicles is forecast to drive demand from 2016 to 2023. Growing popularity among various age groups coupled with advanced product features offered by vendors is likely to provide massive growth potential to the action camera market over the next seven years…this could bode well for technology companies with undervalued tech stocks

Price polarization is predicted to be the key action camera market trend. Advent of bundle packaging is also predicted to boost demand for these products. As vendors bundle cameras with numerous accessories, it therefor removes users’ need of buying extra equipment.

Introduction of new players in the industry is expected to benefit customers, as this device with high features and enhanced quality are likely to be available at affordable prices. Furthermore, the Asia Pacific action camera market size is expected to witness high growth as a result of rising customer demand across the region.

Key participants accumulating significant action camera market share include GoPro, Drift Innovation, Contour, Garmin, iON Worldwide, JVC Kenwood, Rollei, PLR IP, Sony, and Veho.

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