London — Worldwide action video camera annual shipments are on course to reach 9 million units in 2018, according to estimates recently released by Futuresource Consulting.
The U.K.-based market research firm said action camera shipments reached almost 5 million units in 2013, representing 47 percent growth, and are tracking toward a 9 million unit number in four years.
“The USA and U.K. shared 46 percent of worldwide demand last year, a drop of 4 percent share from the previous year, due to stronger growth in other regions,” said Arun Gill, Futuresource market analyst. “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.”
The market research firm said a majority of sales in 2013 were made for consumer applications, such as sports enthusiasts and evidential use. The remainder was made for professional applications, predominantly TV production.
As for brands, Futuresource said category founder GoPro continues to maintain its position as the dominant market leader, despite a growing number of contenders entering the market.
“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,” Gill observed.
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.
The full report is available at Futuresource-Consulting.com.