Worldwide action camera market up nearly 50%
According to the latest report from Futuresource Consulting, the worldwide action camera market grew by 44% year on year in 2014, reaching 7.6 million units, with a retail value of $3.2 billion. The report, which tracks annual volume, value and average price from 2013 to 2019, forecasts continued growth, in both volume and value, up to 2019 and beyond.
The Worldwide Action Camera Market Report tracks 13 countries and six regions and cites North America and Europe as the two largest markets. However, although we will see continued growth over the coming years, a number of factors, including lengthening replacement cycles, will see the growth begin to slow. At the same time, Asia Pacific has witnessed the strongest growth and is set to continue growing rapidly.
Currently consumer sales, mainly for extreme sports has accounted for the vast majority of worldwide demand, however professional sales are set to accelerate, driven mainly by TV production, emergency services, and security.
According to Futuresource, another key trend is price polarization, with growing sales for models priced under $200, whlle at the same time seeing strong sales performance from higher value models.
“The action camera market has undergone a great deal of development over recent months,” commented Arun Gill, Market Analyst, Futuresource Consulting. “In particular, with 360 degree capture now available, we will see virtual reality applications emerge over the coming months, especially for sports broadcasting.”
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