Global Point of View Shot (POV) Camera Market Size, Share, and COVID-19 Impact Analysis, by Product Type (Box, Cube, Bullet, Periscope, 360°), by Resolution (4K, Ultra-High Definition, Full High Definition, High Definition, Standard Definition), by Application (Sports, Emergency Services, Automobile, Recreational Activities & Others), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The global point of view shot (POV) camera market was valued at USD 2.2 Bn in 2021. The market is projected to grow USD 4.8 Bn in 2030, at a CAGR of 4.9%. POV cameras are specialized camera equipment that are used to record sports, adventures, amongst other activities that are often fast-paced. These cameras, unlike traditional cameras, are small and rugged, and may be installed on helmets, car dashboards, bicycles, or worn on the body to capture incredible real-life films and photographs. Action cameras have become extremely popular among sports enthusiasts and casual users who want to film their adventures and share them on social media platforms due to their small size and outstanding 'point of view' feature. Because of its waterproof nature and specific design, action cameras come in helpful when working in irregular settings, extreme weathers, and underwater trips, in addition to being easy to use and small.
The outbreak of COVID-19 impacted negatively on the global point of view shot (POV) camera market. Due to strict lockdowns imposed in several countries and the halt of tourism and adventure sports activities, action camera adoption was low across all regions in the first and second quarters of 2020. To prevent the spread of the virus, manufacturers temporarily halted production of cameras and accessories. Consumers prioritized essential commodities and activities, such as food, medicine, and grocery shopping, over leisure, adventure tourism, sports, and entertainment. Consumers were unable to travel and participate in public sports such as racing, water sports, and other activities in 2020, resulting in fewer blogging and vlogging activities around the world. With the elimination of lockdowns and a steady reopening of the tourism and sports sectors, the industry is likely to pick up speed in 2021 and 2022.
Increasing Focus on Miniaturization of Action Cameras
Rising innovations in electronics industry specially miniaturization of electronic equipment is likely to anticipate the growth of the global point of view camera market. Advanced sensors and gadgets are being widely used for the recreational activities. Integration with add-ons feature such as slow-mo and panoramic video for richer experience.
Prevalence of Social Media is Aiding the Market Growth
The spread of social media has had a massive impact on market growth. The COVID-19 epidemic had a significant impact on the action camera business, resulting in significant revenue losses and the closure of several manufacturing plants around the world. On the one hand, the coronavirus-induced halt in production disrupted the global supply of various important components and materials.
Increasing Adoption of Action Cameras Among Travel Enthusiasts and Bloggers
The demand for action cameras is boosting among adventure professionals. The market is being influenced by the significant rise in popularity of sporting events and adventure activities. The increased popularity of adventure, travel, and sports among young people, as well as their desire to take high-quality photos and videos, is likely to propel the worldwide action camera market forward in the near future.
Concerns Pertaining to High Deployment Cost of Action Camera
The high deployment cost for action camera are projected to limit market expansion of the POV camera market. The advanced resolution used in action camera raise costs even further, which could operate as a market restraint for the media & entertainment industry.
The global point of view shot (POV) camera market is segmented by Product Type (Box, Cube, Bullet, Periscope and 360°), By Resolution (4K, Ultra-High Definition, Full High Definition, High Definition, Standard Definition), By Application (Sports, Emergency Services, Automobile, Recreational Activities & Others) and region. Based on the resolution type, the market is categorized into box, cube, bullet, periscope & 360°. Based on resolution, the market is categorized into 4k, ultra-high definition, full high definition, high definition, standard definition. Based on application, the market is categorized into sports, emergency services, automobile, recreational activities & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.
Product Type Insights
Based on the product type segment, the global point of view shot (POV) camera market is categorized into box, cube, bullet, periscope, 360°. The bullet segment has dominated the market share of the global point of view shot (POV) camera market in 2020 owing to the easy installation and offers long range which makes them a good choice for consumers when they are watching on larger screens.
Based on the resolution segment, the global point of view shot (POV) camera market is categorized into 4k, ultra-high definition, full high definition, high definition, standard definition. The 4k held the largest market share in 2020 of the global point of view shot (POV) camera market attributing by its numerous offerings as it provides high-end video quality, action cameras include a wide-angle lens for recording the view as requested. The applicability of a video resolution is heavily influenced by the camera's use and the equipment used to anticipate the collected image. Furthermore, the availability of semiconductors and sensors in the production of camera units improves the manufacturing process, resulting in a higher-quality output.
Based on the application segment, the global point of view shot (POV) camera market is categorized into sports, emergency services, automobile, recreational activities & others. The sports held the largest market share in 2020 of the global point of view shot (POV) camera market owing to growth in the number of adventure sports and widespread media coverage. The growing popularity of sports such as surfing, skiing, skating, climbing, skydiving, riding, bicycle racing, and other activities is driving up market demand. Furthermore, the employment of digital technology with better lenses and resolution aids in the capture of high-quality photographs and films while in action. Furthermore, the expanding number of sports leagues and activities around the world is boosting the segment's growth.
The global point of view shot (POV) camera market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is dominating the market share of global point of view shot (POV) camera market owing to increasing popularity of adventure activities such as bungee jumping, skydiving, and paragliding in the region. Adventure sports media coverage is a booming industry in the United States, with the area market seeing a surge in demand for professional cameras with large storage capacities. Furthermore, significant investments in R&D operations for the development of upgraded versions are aiding regional development. In addition, the shifting of consumer behavior from digital to action cameras is a major trend in the United States that has an impact on the regional industry. The demand for action cameras in the North American region is likely to be driven by the expanding production volume of light commercial vehicles and the growing effect of the New Car Assessment Program (NCAP). However, Asia Pacific is expected to witness fastest growth rate over the forecast period of point of view shot (POV) camera market due to increase in demand for various sorts of creative and compact action cameras for outdoor activities. Furthermore, the region has seen a significant increase in the number of millennials, who are the primary purchasers of action cameras. Therefore, rise in millennial is anticipated to create demand of POV camera market growth opportunities.
· AIDA Imaging
· Dream Chip Technologies GmbH
· OM Digital Solutions Corporation
· Marshall Electronics, Inc.
· OCLU, LLC
· SalrayWorks Inc.
· GoPro Inc.
· Amazon.com, Inc.
· Amimon, Ltd. (Vitec Group plc)
KEY INDUSTRY DEVELOPMENTS:
October 2021- DJI has launched its latest compact camera, the DJI Action 2, which is an update to the original DJI Action.
January 2020- Insta360 has launched One R versatile action camera which has a processor with an inbuilt miniature touchscreen and a 360-degree camera that records at 5.7k resolution.
October 2019- Dream Chip Technologies has joined Samsung Foundry's Design Solution Partner (DSP) Program to offer total ASIC solutions from specification to volume production for their SoC customers including latest semiconductor nano technologies like 8 nm and beyond. This will offer new opportunities for European car manufacturers as well as the Automotive Tier 1 suppliers.
By Product Type
- Ultra-High Definition
- Full High Definition
- High Definition
- Standard Definition
- Emergency Services
- Recreational Activities
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy
- Asia-Pacific- China, Japan, India
- Latin America- Brazil, Argentina, Colombia
- The Middle East and Africa- United Arab Emirates, Saudi Arabia
Global Point of View Shot