Global Action Camera Market Experiencing Rapid Growth
New report expects the Global Action Camera market to grow at a CAGR of 22.2% over the period 2014-2019.
Action cameras are used to capture extreme action sports or activities. These cameras can capture high-speed and high-quality images. Regular cameras are incapable of capturing high-speed actions and are not designed for rugged conditions, including extreme weather. By contrast, action cameras are compact, lightweight, designed for rugged conditions, and can be worn by the person or mounted on vehicles.
An increase in the number of new vendors is one of the major trends in the market. The market is experiencing rapid growth and is attracting many new players. The entry of new players is expected to have a subsequent effect on the price, features, and quality of action cameras. This is expected to be beneficial for consumers, as action cameras with enhanced quality and features are expected to be available at low prices.
According to the report, the popularity of social networking sites such as Facebook, Twitter, and Instagram, is one of the major drivers of the Global Action Camera market. End-users share images and videos of their sports activities captured through action cameras on these sites, thus increasing the demand for these cameras. Vendors provide advanced product features to give an enriching customer experience. This helps to boost sales of action cameras.
Further, the report states that the popularity of smartphones is one of the major growth inhibitors. The declining prices of smartphones, coupled with enhanced features that offer better image and video quality, are the main factors responsible for the popularity of smartphones.
The report was conducted by ResearchAndMarkets.com, and more info can be found here.