(Entertainment-NewsWire.com, August 09, 2022 ) The action camera & accessories market is expected to grow at a CAGR of 13.5% from 2020 to 2027 to reach $6.58 billion by 2027 from $2.7 billion in 2020.
Increasing tourism and growth in travel blogging globally are driving the growth of the action cameras market. The development of the tourism industry has propelled the adoption of action cameras among individual and group travelers. The demand for action cameras has grown significantly in recent years due to their high utilization in adventure sports and other outdoor activities. Consumers in the sports industry use action cameras mainly for recording live sports events to evaluate performance. However, the availability of smartphones with high-resolution and wide-angle cameras has negatively impacted the demand for action cameras in recent years.
In 2020, North America to account for the largest share of the market
North America is expected to cover the largest share in the action camera & accessories market by 2027 in terms of revenue and volume due to the presence of a wide consumer base, action camera manufacturers, and the developed tourism sector. The U.S. accounts for the highest number of action camera consumers due to high awareness of the usage, the high number of travel bloggers, and the advanced adventure sports industry. The region also comprises several camera manufacturers that allow consumers to purchase the latest products at reasonable costs.
Key questions answered in the report-
What are action cameras & accessories?
What is the expected revenue for the action camera & accessories market from 2020 to 2027?
What is the expected volume for the action cameras market globally from 2020 to 2027?
Which product offering segments are set to gain the largest share in 2020 and the fastest growth rate by 2027 in terms of revenue and volume?
What are the major factors driving the action camera & accessories market?
Which factors restrain the market growth?
What are the major opportunities in the market?
Which challenge is impacting the action camera & accessories market growth?
Who are the major key players operating in the action camera & accessories market?
Which countries will witness fast growth in the forecast years?
Key Players
The report includes the competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past three years. The key players operating in the action camera & accessories market are GoPro, Inc. (U.S.), Sony Corporation (Japan), Insta360 (Arashi Vision Inc.) (China), SJCAM (China), JVCKENWOOD Corporation (Japan), TomTom International BV (Netherlands), Garmin Ltd. (U.S.), SZ DJI Technology Co., Ltd. (China), Drift Innovation (U.K.), YI Technology (China), Eastman Kodak Company (U.S.), Nikon Corporation (Japan), Rollie (Germany), Panasonic Corporation (Japan), and Xiaomi (China).
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