Action Camera Market Showing Tremendous Growth and Strong Revenue by 2026
Category: #business  By Ronak Bora  Date: 2022-06-23
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Action Camera Market Showing Tremendous Growth and Strong Revenue by 2026

The demand for action camera market is anticipated to accelerate at a decent rate over the coming years majorly fuelled by rapid growth in the tourism sector. Tourists usually prefer these cameras for capturing high-quality images and videos. Action cameras like GoPro not only provides crisp images but also comes as a durable device that can handle extreme climatic conditions.

Rising government initiatives to promote tourism could boost the demand for these cameras. GMI, Inc., estimates that the action camera market could touch USD 5.5 billion by the year 2026. Apart from outdoor activities, these cameras are also used for recording live streams and stage events. The compact size of these cameras ensures a hassle-free travel experience and improved portability for travellers.

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Rising trend of photography and the need to capture good-quality images has driven the demand for budget action cameras with image stabilizations. As a result, companies like GoPro, Inc. and Sony Corporation are shifting their efforts on developing high-quality cameras at affordable price points.

Slated below are some of the ongoing trends developing the demand for action cameras:

Increasing sales through online distribution channels -

Heavy discounts and offers presented by e-commerce sites coupled with rapid penetration of online retailers like Flipkart, eBay, and Amazon.com could drive the demand for action cameras via online sales channels. Several brands are focusing on offering a range of high-performance cameras exclusively on e-commerce sites.

Estimates suggest that action camera market could record a 16% CAGR from online distribution channels by the end of 2026. These websites offer a wide range of convenience features like immediate delivery, hassle-free return policies and fair price comparison, which could propel sales of action cameras.

Companies like Walmart and Amazon are introducing new sale events to boost their sales. In 2020, both Amazon’s holiday season sale and Walmart’s Black Friday sale offered attractive deals on action cameras developed by companies like Sony and Panasonic. Moreover, GoPro offered deals up to $200 on its official website for the GoPro HERO9 Black action camera.

Promising opportunities across MEA - 

The rapidly growing tourism sector across the Middle East & Africa could boost the adoption of technologically advanced action cameras. Owners of large aquariums are deploying these high-performance cameras to capture shots and record footage of rare ocean species for tourists. In September 2019, Bahrain opened Dive Bahrain, a theme park, that gives visitors the chance to experience a unique diving experience with the help of action camera market. 

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Adoption of new business strategies -

Companies operating in the action camera industry are engaging in a range of organic as well as inorganic business strategies like product launches, collaborations and public funding to enhance their manufacturing abilities and geographical reach.

In October 2020 for instance, Insta360 offered a short glimpse of its latest camera through a teaser video. The new offering appears to be a version of the 360-degree action camera model, which follows the footsteps of Insta360 One X and Insta360 Evo.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Scope & definitions

1.2    Methodology & forecast parameters

1.3    Data sources

1.3.1    Secondary

1.3.2    Primary

Chapter 2   Executive Summary

2.1    Action camera market 360º synopsis, 2016 – 2026

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Technology trends

2.1.4    Distribution channel trends

2.1.5    End-use trends

2.1.6    Application trends

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/action-camera-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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