DJI and Insta360 dominate global smart camera market with 87% share

Chinese companies DJI and Insta360 now dominate the global smart camera sector, holding almost 90% of the market and pushing US innovator GoPro aside. In the first quarter, Insta360 experienced remarkable growth, achieving a 66% increase year-on-year with 900,000 units sold. According to IDC, total shipments of handheld smart cameras reached 4.14 million units in Q1, with sales climbing 20% year-on-year to exceed 10.5 billion yuan ($1.46 billion). This category encompasses action cameras like GoPro's Hero series, DJI's Pocket gimbals, and Insta360's X series panoramic cameras. Projections indicate that global annual shipments will exceed 40 million units by 2030, with a nearly 18% compound annual growth rate over the next five years. DJI's 8K panoramic Osmo 360 debuted in the 360-degree imaging arena.