Looks like it’s a good time to be in the action camera business with current industry leader GoPro projected to see year-on-year revenue growth well into 2019.
In a report released last week, Futuresource revealed that the niche action cam market will become less so as GoPro begins to diversify its portfolio and rivals makers continue to play a game of catch-up.
The worldwide action camera market experienced a sharp 44% sales increase in 2014 reaching 7.6 million units and totalling $3.2 billion in sales.
While camera brands such as Canon, Nikon, and Sony look for ways to liven up the market, action cameras have yet to reach such levels of saturation and are still considered a fresh commodity among consumers. With 360-degree capture, VR tech, and the recent need for wearables among police on the up and up, the action camera business is looking ripe!