Recently, a research took up by a Research Company, Technavio that predicted “we may see a staggering 15% grow in the global Action Camera market by 2021” (Why?). How they predicted? Actually, based upon the current surprisingly growth in the adventure tourism market that was valued at more than USD 430 billion in 2016.
With individuals across the globe increasingly focusing on sharing photos and videos through social networking sites, this growth of the adventure tourism industry will propel the demand for action cameras since they can withstand harsh conditions during adventure activities such as freestyle skiing, climbing, snowboarding, trekking, and bicycling.
Well, the three segments in which action cameras are leading are:
Ultra HD action camera
As Technavio forecasted, the market for the ultra HD camera is expected to reach USD 3,260.57 million by 2021.
Full HD action camera
The revenue for the global full HD action camera is expected to reach USD 2,202.57 million by 2021.
HD action camera
Technavio says, it is the HD action camera which contributed more shares in 2016 than Ultra HD or Full HD. However, Technavo predicts the market for HD action camera to decline during the forecast period, falling at a CAGR of over 3%.