- Growth fueled by change in consumer habits
- FLIR develops first action camera
- Yi Technology, MGCOOL unveil action camera with 4K support
The action camera market will reach $10 billion globally by 2021, Beige Market Intelligence forecasts. This means the market will be growing at a compound annual growth rate of 23%.
This strong growth is driven by the popularity of social media, the rise in outdoor pursuits and customers spending more on electronics. However, at the same time, customers expect to find quality and enhanced features at every price point. Some of the features customers seek are special effects and social connectivity.
FLIR Systems has introduced action cameras which contain its thermal imaging technology. The FLIR Duo and FLIR Duo R are designed for use with any drones that support cameras, and operators can switch between thermal and visual imaging.
The Duo is designed for hobbyists and professionals while the Duo R is strictly for commercial applications. They retail for $1,000 and $1,300.
FLIR also announced a smartphone camera attachment and a portable camera for use by contractors, home inspectors and Realtors.
“These innovative new thermal imaging devices further extend the utility and value of low-cost thermal imaging into consumer and small business applications,” FLIR President and CEO, Andy Teich, said in a statement. “Thermal imaging is more accessible than ever today thanks to our continued effort to make the technology smaller, more powerful and more affordable.”
Cameras with 4K Support
Yi Technology, a Xiaomi-backed Chinese competitor of GoPro, unveiled its new action camera at the Consumer Electronic Show 2017.
The camera can shoot 4K video at 60 frames per second. This is double the rate of the first Yi 4K action camera.
This is Yi’s third action camera. The original 4K camera retails for $200. A price for the newer camera has not been released.
Sean Da, Yi Technology CEO, said in a statement, “As a challenger brand in the changing imaging technology market, we are constantly looking for ways to push the boundaries and set new standards for the global industry.”
Another Chinese GoPro competitor MGCOOL also is announcing a 4K camera. The Explorer 2 is comparable to the GoPro HERO 5, MGCOOL says. It will feature a global positioning system, gyroscope and voice controls. Like GoPro and Yi, the camera automatically slows shaking of the image caused by movement.
Water-sport enthusiasts and divers can purchase a waterproof case.
No price was announced, but the MGCOOL Explorer Pro retails for $100.
- Asia-Pacific is the largest action camera market with China and India being the fastest- growing regions.
- In 2015, North America accounted for 40% of the market. By 2021, the market in North America is forecasted to be valued at $3.51 billion.
- The top action camera vendors include Drift Innovation, Garmin, GoPro, iON Worldwide, and Sony.
- Emerging action camera vendors include Braun Photo Technik, Chilli Technology, JVC Kenwood, Olympus, Panasonic, Polaroid, Rollei, TomTom, Veho, and Xiaomi – Y1 Technology.