Market Scenario
The action camera market will witness a healthy growth from 2017 to 2023, a research report suggests. Growing at a CAGR of 14.21%, the market is projected to reach US$9,382.5 million by 2023. Proliferation of social media is expected to support the market growth along with the growing content sharing trend on social networking websites. As predicted by analysts, smartphones with high-end cameras will negatively affect the market’s performance from 2017 to 2023. During the forecast period, the market will be supported by rising uses of social media as a platform and a rise in disposable income. The rise of smartphones and small cameras on the other hand will challenge cameras sector based organizations functioning in the global Action Camera Market Share. Analysts have split the market into distribution channel, end-user, technology, and type segments based on products and services. Cameras based companies have been profiled.
The lack of investments is set to affect the global market during the forecast period 2017 to 2023. The report also provides the market’s performance forecasts till 2023. Analysts have studied the strategy of cameras segment based organizations to help new entrants and established businesses. The cameras sector itself is supported by the changing social behaviour as well as the increasing demand from various industry verticals. During the forecast period 2017 to 2023, the action camera market is set to witness a health growth across distribution channel, end-user, technology, and type segments as well as regional markets.
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Key Players:
Garmin Ltd. (US), Sony Corporation (Japan), GoPro, Inc. (the US), SZ DJI Technology Co., Ltd (China), Olympus Corporation (Japan), Veho World (UK), TomTom NV (Netherlands), SJCAM Limited (China), PLR Ecommerce, LLC (US), Nikon Corporation (Japan), Panasonic Corporation (Japan), and YI Technology (China) are some of the affluent contenders holding sizeable action camera market share.
Segments:
The cameras sector has seen growth across distribution channel, end-user, technology, and type segments owing to favorable policies across regional markets and the growing application areas. To study the market, analysts have further segmented distribution channel, end-user, technology, and type into box style, bullet-style, cube-style, periscope & 360°, and others on the basis of type. The market is further segmented into technology sub segment which is split into full HD, HD, SD, Ultra HD, and others. Additionally, the action camera market on the basis of distribution channel is segmented into online and brick & mortar stores. The market is further segmented into end-user sub segment which is split into professional and personal.
The segmental analysis presented in the report provides cameras field based organizations insights into key growth factors such as the increasing spending power of consumers as well as challenges such as the lack of skilled human resource the market will face from 2017 to 2023. The availability of many untapped opportunities and the increasing preference of consumers are some of the key factors having an influence on cameras industry based companies, suggest analysts as per the action camera market report. But the report also identifies the lack of skilled human resource and the lack of investments in R&D as major threats companies in cameras will face till 2023.
Regional Analysis
Camera market based companies in the action camera market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. a rise in the disposable income will be a key growth driver for regional markets. However, the lack of investments in research and development will turn out to be a threat. For the forecast period 2017 to 2023 each of these regional markets are studied in the report. Starting from North America, the regional market and cameras vertical based companies are spread across the United States, Canada, and Mexico. Growing concerns regarding high cost will turn out to be a major challenge from 2017 to 2023. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the rise in distribution channels as well as the growth of communication channels, suggests the report. Similarly, the cameras sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the action camera market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2023.
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