Shenwan Hongyuan Group: Rapid Growth of Global Smart Imaging Equipment Market, Domestic Enterprises Occupy Leading Position.

Shenwan Hongyuan Group released a research report stating that the global smart imaging device market is growing significantly, with the global sports camera market expected to reach 31.44 billion yuan by 2023, and expected to grow to 51.35 billion yuan by 2027, with a 2023-2027 ECAGR of 13.0%. The market concentration is high, with the top five manufacturers GoPro, Insta360, DJI, Shenzhen SENA, and SJCAM holding a market share of 74%. Insta360 Innovations holds a global market share of 67.2% in the panoramic camera field, ranking first; and second globally in the sports camera field. The report recommends paying attention to the market and category expansion potential of Insta360 Innovations, as well as related companies in the CIS chip, optical lens, and module industry chain. Main points from Shenwan Hongyuan Group: Handheld smart imaging devices mainly include panoramic cameras, sports cameras, etc., used for outdoor sports, personal consumption scenarios such as Vlog shooting, as well as VR, film, and other industry-level applications. The upstream includes chips, lens modules, structural parts, connectors, packaging materials, and batteries; the midstream includes manufacturers such as GoPro, Ricoh of Japan, DJI, Insta360, Garmin, which represent products like GoPro Max, GoPro Hero series, Ricoh Theta V, DJI OSMO Action, Pocket series, Insta360 One X, Ace, Go series. According to Frost & Sullivan research, the global sports camera market is expected to reach 31.44 billion yuan by 2023, and is projected to grow to 51.35 billion yuan by 2027, with a 2023-2027 ECAGR of 13.0%. In 2023, the global shipment volume of sports cameras reached 44.61 million units, with a 2023-2027 CAGR of 11.5%. The significant growth of the smart imaging device market relies on product innovation, different from traditional imaging devices, with technologies like stabilization, computational photography, AI imaging at its core. Consumer-level products have moved beyond early outdoor sports scenarios into daily visual content creation, while professional-level products have entered Hollywood, CCTV live broadcast, and other film and TV content production areas. Market concentration is high: In 2023, the top five sports camera manufacturers GoPro, Insta360, DJI, Shenzhen SENA, and SJCAM hold a market share of 74%. GoPro: Established in 2004, it has high brand awareness in the sports camera field, with cumulative sales exceeding 50 million units. Facing challenges from lack of innovation and differentiation in competitive landscape. DJI: Leading in both drones and handheld photography devices. From November 2023 to September 2024, DJI held the top spot in global camera sales with products like the Pocket 3 for eleven consecutive months. Insta360 Innovations: The One X series leads in the panoramic field, while the Ace series is a value-for-money choice in the sports camera field, with technology spanning consumer and professional-level imaging. According to Frost & Sullivan data, in 2023, "Insta360 Insta" holds a global market share of 67.2% in the panoramic camera market, ranking first; while the "Insta360 Insta" brand ranks second globally in the sports camera market. Risks: Risks related to international trade friction, tariff risks, technology iteration risks, and competition from similar products.