The Action Camera Market size is projected to reach US$3.2 billion by 2027, growing at a CAGR of 8.5% from 2022 to 2027. The market has been driven by action camera features such as portability, convenience, compact size and versatility. The latest generation of action cameras frequently include add-ons that enable Wi-Fi, Bluetooth connectivity and other functions helping action camera users to connect to other devices. In November 2021, DJI introduced the Action 2, a first-person perspective action camera that is waterproof, dust-proof and drop-proof, making it an excellent choice for adventure sports. However, the high cost associated with these action cameras and accessories hampers the growth of the Action Camera market.

Moreover, the growing popularity of sports such as surfing, climbing, skydiving, biking, bicycle racing and others is driving up market demand. Furthermore, the use of digital technology with advanced wide-angle lenses and resolution contributes significantly to the capture of high-quality images and videos in action. In March 2022, Insta360 released the "ONE RS," a multi-lens anti-shake sporting camera. These factors would positively influence the Action Camera Industry Outlook over the forecast period.

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Europe generated approximately 27% of the global revenues in the Action Camera industry in 2021. Increased disposable income, increased demand for technologically advanced devices and a higher rate of adoption of innovative technologies have all influenced the region and aided the growth of the European action camera market size. In August 2019, Motorola released a 117-degree wide action camera - Motorola One Action. Developments such as this help grow the Action Camera Market size.
Action Camera Market Growth Driver

The increasing importance of on-field data to analyze team performance, track individual players, monitor injuries and optimize the training curriculum of individual players is expected to drive the demand for action cameras in the sports analytics market in the forecast period. The increased emphasis on real-time data to organize training sessions and various strategic developments requires action cameras to provide precise data and movement activities. In August 2022, FIFA announced that they would be using a set of 12 new action cameras under the roof of every stadium in Qatar. These new action cameras are synchronized to track 29 data points on each player's body, 50 times per second. Data is processed using artificial intelligence to generate a 3D offside line that alerts the VAR team. These new developments would positively influence the Action Camera Industry outlook over the forecast period.

The Major Players in this Market 
Major players in the Action Camera Market include GoPro, DJI, Nikon, Sony, Insta360 and Akaso. In September 2022, Insta360 introduced the X3, a new 360-degree sports action camera. The X3 can capture 5.7K 360-degree videos, which can then be edited using AI technologies in the Insta360 app, which includes intelligent reframing methods.

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