First Person View (FPV) Camera Market Set for Remarkable Growth, Expected to Surpass US$ 3.26 Bn by 2034 at 14.7% CAGR
swatichaudhari
According to a new study by Fact.MR, a market research and competitive intelligence provider, the global first person view (FPV) camera market is estimated to reach a valuation of US$ 825.3 million in 2024 and thereafter advance rapidly at a CAGR of 14.7% during the forecast period of (2024 to 2034).
First-person view cameras market are used in a several industries to record images or videos in first person view. They are equipped with the latest technology, such as 3D image sensing, 360-degree video recording, and AI integration, which improves the output and quality of the audio and image that the camera records. Better video and audio quality at night has been made possible by automatic image processing techniques such as natural night picture improvement.
Together, North America and East Asia are projected to account for over two-thirds of the global market share by the end of 2034. With the popularity of drones skyrocketing for use in several industries, drone/UAV FPV cameras are expected to account for 42.1% of overall product sales by 2034.
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Key Takeaways from Market Study
The global first person view camera market is projected to grow at 14.7% CAGR and reach US$ 3.26 billion by 2034.The market created an opportunity of US$ 339.8 million, expanding at a CAGR of 11.2% between 2019 and 2023.East Asia is a prominent region that is estimated to hold a market share of 38.4% in 2034.
Leading first person view camera manufacturers are DJI, AKK Technology Inc., Amimon Ltd., Caddx, Connex, GoPro, Fatshark, Foxeer, Insta360, RunCam, and Sony Corporation.Sales of drone/UAV FPV cameras are forecasted to increase at a CAGR of 13.6% and create an absolute $ opportunity of around US$ 1 billion between 2024 and 2034.North America and East Asia are calculated to create an absolute $ opportunity of US$ 1.6 billion, collectively, by 2034.
“First person view cameras transforming the drone market and gaming industry since they are equipped with cutting-edge technologies such as 3D image sensing and AI, offer superior image and audio quality, thereby enabling real-time drone piloting and immersive gaming experiences with minimal latency,” says a Fact.MR analyst.
Market Development
Market growth of FPV cameras has been driven by various factors such as light weight and compact designs of camera, wireless transmission systems, and several other innovations and improvements in performance. Growth of the market is also being propelled by widespread demand from technological innovations, including low-latency transmission, high-definition imaging, and AI integration to revolutionize the FPV experience. Emerging market trends such as FPV drone racing leagues and VR integration is expanding market horizons, backed by high emphasis on user engagement and entertainment.
• On March 4, 2024, DJI debuted its inaugural concept store on New York’s Fifth Avenue, showcasing its renowned camera drones, imaging devices, action cameras, and accessories.
• On March 14, 2023, GoPro announced a partnership with US Sailing, becoming the official action camera partner to capture the thrilling moments of competitive sailing events and training sessions.
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Compact, Lightweight, and Rugged Design Increasing Task Efficiency
With their expansive scope, FPV cameras enhance task efficiency, whether utilized in manufacturing or enhancing equipment performance within its framework, crafted from lightweight materials and featuring durable shafts enabling operation at any elevation or angle, available in drone, action, and standalone variants.
The growing embrace of artificial intelligence (AI) has spurred the integration of specialized AI functionalities across various sectors globally. Through the incorporation of advanced technologies like AI and machine learning, individuals can enhance image clarity, record high-definition videos, and analyze data instantly.
Growing Virtual Reality and Gaming Markets
In recent years, the gaming industry has seen rapid expansion, driven by the integration of advanced technology with platforms like virtual reality (VR) and first-person shooter (FPS) games utilizing FPV cameras. VR headsets equipped with FPV cameras heighten players’ sensory immersion by transporting them into virtual environments. These cameras enable players to assume the viewpoint of the protagonist in FPS games, elevating immersion levels. For instance, FPV cameras blur the line between virtual and real worlds, amplifying gaming experiences with unparalleled realism and interactivity.
Addressing Latency Challenges in FPV Applications
In FPV applications like drone racing and virtual reality gaming, achieving minimal latency is crucial. Precise control and an immersive user experience are vital in fast-paced environments, necessitating real-time responsiveness for peak performance. Maintaining immersion and competitiveness in these demanding activities hinges on achieving low latency.
Manufacturers face the technical challenge of minimizing the delay between capturing images from the FPV camera and displaying them on the user’s device. Achieving real-time responsiveness is crucial for enhancing user experience and meeting the demanding requirements of FPV applications like drone racing and virtual reality gaming. Manufacturers are actively striving to resolve these issues by ensuring seamless synchronization.
