Action camera market to reach nine million units in 2018 says Futuresource Consulting
Worldwide demand for action cameras reached almost five million units in 2013 — which represented annual growth of 47% — and is on track to reach nine million units in 2018, according to research from Futuresource Consulting. “The USA and UK shared 46% of worldwide demand last year, a drop of 4% share from the previous year, due to stronger growth in other regions,” said Arun Gill, market analyst at Futuresource Consulting.
“The relative importance of outdoor pursuits, propensity to spend on emerging CE categories and the use of social media are some of the main drivers of demand for action cameras.”
In 2013, the majority of sales were for consumer applications, such as sports enthusiasts and evidential use, while the remainder was for professional applications, predominantly TV production. GoPro continues to maintain its position as the dominant market leader, despite a growing number of vendors vying for market share.
“The distribution of action cameras is uniquely lifestyle-centric as opposed to CE-centric, with retailers focused around surfing, skiing, cycling and the like, and generally independent or small chains, as opposed to large chains,” said Gill.
Futuresource expects the worldwide action camera market to continue growing out to 2018, by which point, parts of Europe and Asia Pacific are expected to drive the majority of growth. This 20 page report provides an assessment of the Worldwide Action Camera market. The report gives forecasts to 2018, profiles the key regions and reviews the latest developments in the competitive landscape, retail distribution and product features.