With the continuous innovation in content and mobile internet technology in the era of self-media, professional smart handheld imaging devices have become one of the popular products for consumers to record life and discover beauty. Compared to mobile phones, professional smart handheld imaging devices can be equipped with more accessories to meet the high-definition imaging needs of various scenarios and demands, especially in sports, outdoor activities, and other environments.
In addition, driven by the marketing and promotion of leading brands such as GoPro and Insta360, the market size of consumer-grade handheld smart imaging devices has been continuously growing in recent years. By 2022, the global market size of handheld smart imaging devices had increased from 16.43 billion yuan in 2017 to 30.75 billion yuan in 2022, with a compound annual growth rate (CAGR) as high as 13.4%. Today, consumer-grade handheld smart imaging devices have initially penetrated the market, and it is expected that the industry will enter a period of rapid growth.
For global regional market segments, panoramic cameras account for the largest share of sales in North America due to cultural differences such as sports and outdoor activities. The European market follows, ranking second in the overall panoramic camera market share. The Chinese market is still relatively small compared to other markets, accounting for about 19% of the total, but it maintains a relatively optimistic growth rate.
From the perspective of the industrial chain, the upstream of the handheld intelligent imaging device industry includes chips, lens modules, structural parts, connectors, packaging materials, and batteries; the midstream consists of major intelligent imaging device brand manufacturers; and the downstream includes individual customers and corporate clients. Unlike SLR camera enthusiasts who pursue ultimate image quality, consumer-grade intelligent imaging device users are mainly young sports enthusiasts who seek motion capture capabilities. According to research, the core consumer group for professional-level products is concentrated between 25-35 years old, mostly digital enthusiasts with a strong interest in the technical updates and iterations of digital products. Entry-level products, in addition to the above groups, also include a portion of teenagers who are more price-sensitive. The overall user base shows a trend towards younger age groups and an increasing number of people each year. Currently, there are 1.06 billion global outdoor sports enthusiasts, with a compound annual growth rate of 20.4% from 2017 to 2022. As governments around the world increasingly focus on national health policies and education, it is predicted that the number of global outdoor sports enthusiasts will continue to grow, reaching 1.5 billion by 2025.
From the perspective of market competition, the global action camera market has developed steadily. In the high-end market, domestic sports and panoramic camera brands such as Insta360, DJI Innovations, AKASO (Sinar), etc., are gradually forming a substitution trend for European and American products like GoPro due to their technological advantages. Among entry-level products, Chinese sports camera brands have always occupied a large share of the market by relying on their product cost-performance ratio.
This study focuses on intelligent handheld imaging devices, exploring and analyzing market business opportunities, future business space, market drivers, and future trends. It conducts a market scan of major players within the existing track and makes a comprehensive competitiveness comparison based on the business strengths and weaknesses of various types of players. Based on this, Frost & Sullivan (Frost & Sullivan) has released the 'Global Intelligent Handheld Imaging Device Market Development White Paper 2023'.
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Mr. Lu from Frost & Sullivan
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