QY Research has announced the release of a new research study carrying the title “Global Action Cameras Sales Market Report 2019.” According to the report, the global action cameras market is foreseen to rise at a healthy CAGR of approximately 6.0% between 2019 and 2024. By 2024, the global market value is anticipated to reach over US$2.5 Bn. In 2019, it is forecast to touch almost US$1.9 Bn. The emergence of cloud computing services in the global market is expected to help manufacturers to improve their brand value as they bring attractive additions to the media functions of their action camera solutions.
High Capital Investment to become Barrier to New Market Entry
The competition in the global action cameras market could be at a very high level as top companies continue to introduce new products and invest in advanced technologies. New players may find it challenging to enter the global market due to the requirements of strong research and development backing and high capital investment. The report includes comprehensive analysis of leading players such as DJI, Amkov, Drift Innovation, Polaroid, Contour, iON, Ricoh, Panasonic, SJCAM, Sony, Garmin, and GoPro. New players are foretold to feel the pressure of launching innovative products at attractive prices.
Growing Interest in Adventure Activities to Create Rewarding Opportunities
The global action cameras market is expected to offer lucrative growth prospects with the rising popularity of adventure sports and activities such as snorkeling, rock climbing, paragliding, skydiving, and skiing. Increasing interest in video capturing activities and photography and the rising trend of sharing pictures and videos of lifetime experiences on social media are anticipated to set the tone for substantial growth of the global market. However, expensive prices of some types of action cameras are predicted to slightly hinder sales growth in the coming years. Nevertheless, manufacturers could launch inexpensive products for customers demanding affordable action cameras, and eventually fill the sales gap.
Segmental Analysis: Professional Action Cameras to Collect Major Share
By type, the global action cameras market is segmented into professional and consumer. Professional action cameras could be used in applications such as security, emergency services, and TV shipments. Consumer type of action cameras could be adopted by evidential users and for outdoor pursuits. The report also includes detailed segmental analysis based on these applications.
Among type segments, professional action cameras are prophesied to account for a significant market share on the back of the rising number of sporting events across the globe. On the other hand, consumer action cameras could show quicker growth in the global market due to increasing interest in capturing moments during recreational activities and growing use of social media.
Regional Analysis: North America to Take Lead with High Spending on Recreational Activities
Regionally, North America could be the largest action cameras market as it rides on the extensive growth in the US. Early adoption of action cameras, high spending capacity and income levels, and high presence of adventure and sports enthusiasts are expected to push the demand for action cameras in North America. High focus on maintaining work-life balance in the US is expected to increase expenditure in outdoor recreational activities, which could bode well for the action cameras market in the country. Asia Pacific is predicted to exhibit faster growth in the global action cameras market because of the increasing interest in sports, leisure-time activities, and improving disposable income.
Full Report Overview@ https://www.qyresearch.com/index/detail/1173969/global-action-cameras-sales-market