Covid-19 Impact on Action Camera Market:Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Market OverviewExtreme sports events, seasonal cycles, holidays, and music festivals are key factors propeling the demand for action camera around the globe. In addition, increasing popularity of action cameras in professional activities along with the outdoor adventures is also powering the demand for such cameras.
Evolution in the consumer electronics sector such as extensive use of smart gadgets and miniaturization of sensors is expected to positively impact market growth. Features such as transportability, convenience, versatility and compact size, have resulted increased market growth. The new generation of cameras often have add-ons which allow for Wi-Fi and various other functions to connect users with the other devices. Moreover, these cameras are designed to shoot the videos with first-person perspective, giving viewers a personal view into events such as rock climbing, surfing, and skiing.
Segment OverviewAction cameras have wide-angle lens for capturing view as preferred since 4K resolution provide high-end video quality. Suitability of a video resolution extremely depends on usage of camera and other devices used in foreseeing captured image. Additionally, availability of sensors and semiconductors in the making of the camera unit increases the production process hence resulting into better-quality product. Reduction of chips therefore influences the format and type of resolution for these devices.
The Ultra HD segment is projected to witness high CAGR as the product offers numerous advantages to user. For instance, shooting in ultra UD delivers flexibility in high definition and standard definition. Commercial availability for advanced devices with the UHD features is considerably driving the demand. Customer preference for shooting in the 4K/UHD over 1080p or 720p contributes in growth of segment.
Regional OverviewNorth America lead the market in 2019 owing to high disposable income and growing popularity of various adventure activities such as skydiving, bungee jumping, and paragliding in region. Media coverage for sports is booming industry in U.S. as regional market is witnessing surge in demand for the professional cameras with wide storage facility. Moreover, considerable investments in R&D for development of the advanced versions is further supporting regional growth.
Europe is projected to gain significant traction in global market as some big players are introducing their products for European markets. Motorola One Action launched 117-degree the wide action camera in 2019. The product focusses on video recording with wide-angle lens. Regarding, the product, primary camera with the 12MP can record up to the 4K resolution, while secondary comes with 5MP.
Competitor overviewThe global action camera market is categorised by the presence of large number of players in market. New product launch is key strategy opted in recent past by prominent players operating in market. However, owing to high growth potential, numerous players have started providing the cloud storage services for camera to capitalize on market opportunities. For instance, in 2019, GoPro presented HERO8 Black, is highly versatile and blended features from the earlier versions.
Key Players
- GoPro, Inc.;
- Sony Corporation;
- Nikon Corporation;
- Garmin Ltd.;
- SJCAM,
- YI Technology;
- SZ DJI Technology Co., Ltd.;
- Drift Innovation
Market SegmentationBy Type
- Ultra HD
- Full HD
- Standard
By Distribution
By Application
- Emergency Services
- Sports
- Recreational Activities
- Others
By Geography
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
