How Does GoPro Aim to Improve Its Market Share?
According to Statista estimates, unit sales of action cameras were 8.4 million in 2015 and 10.5 million in 2016. As per industry estimates, the action camera market is expected to grow at a compound annual growth rate of 15% between 2017 and 2023, indicating unit sales of over 12 million in 2017. GoPro (GPRO) shipped 4.8 million units in 2016, indicating a share of over 45%.