Another "social currency" for young people has been added.

"Disneyland has been taken over by DJI."

Recently, a photographer at Disneyland discovered that young people can be seen using Pocket 3 almost everywhere, making the entire Disneyland look like a DJI flagship store.

It doesn't stop there. Whether it's at popular tourist attractions in internet celebrity cities or at comic conventions, young people can always be seen shuttling around with Pocket 3 in hand. Action cameras, which once belonged exclusively to extreme sports enthusiasts, have now transformed into "magic tools" for everyone to record their lives.

Especially DJI's Pocket 3, which has maintained an exceptionally high level of popularity since its launch over a year ago, and is often in a state of out-of-stock and premium pricing. According to BCN Retail's report, this camera has been at the top of sales charts for 11 consecutive months, with a market share in Japan exceeding 30%, easily surpassing industry veterans like Sony and GoPro.

On social media, countless Little Red Book girls have gone crazy taking photos with it, and it's always a topic of conversation at content creator gatherings, becoming a new "social currency".

So what makes DJI Pocket 3 so unique? In the current relatively sluggish consumer market, why is it that action cameras stand out? Where is the room for imagination in the future of action cameras?

Why is DJI Pocket 3 sold out?

Beijing ski enthusiast Wang Fei was once extremely frustrated with using his phone to film skiing videos because the shaky footage was almost unwatchable until he encountered DJI Pocket 3.

"The smooth anti-shake effect and immersive perspective are really great, and my friends are all asking me for the link," Wang Fei exclaimed. "At just three or four thousand yuan, it's equivalent to the price of a single lens for a DSLR camera, or even cheaper than replacing a mid-range phone. It feels like a great deal."

Moreover, Wang Fei recently discovered that this camera is not limited to skiing; it also performs exceptionally well when recording concerts. The anti-shake stabilization feature seems tailor-made for this type of shooting situation that requires jumping around. Even when the scene is so lively that your legs feel like they're about to break, and the video on your phone makes you dizzy with its shaking, the video recorded by Pocket 3 remains clear and stable.

Interestingly, DJI has not only conquered straight men like Wang Fei but has also successfully entered the must-buy list of many Little Red Book girls. "It's very compact and lightweight. I bought it just for its portability. I take it with me when I go hiking, and I use it for all my photos. I try not to take out my phone if I don't have to, and it's super power-efficient," said Peipei, a Little Red Book blogger who loves making Vlogs. For her, Pocket 3 is simply a "magic tool" for her content creation, and she can't go a day without it.

Moreover, Peipei also loves the "retro filter" effect that comes with Pocket 3. She says that owning a DJI is like owning the triple enjoyment of Fujifilm, Sony, and GoPro all at once.

White-collar worker Su Xingya bought Pocket 3 because it can take photos without makeup.

"In my phone's native camera, my mouth is crooked and my face is askew, making me look like I've gained over 20 pounds. It's a nightmare for round faces, but Pocket 3 made me intuitively experience for the first time what it means to be 'photogenic'"

It turns out that the wide-angle lens of Pocket 3 has a "beautifying effect" that makes the face appear smaller and more three-dimensional when shooting. This has been praised by many girls, who call it a magic tool for restoring beauty to round faces, and some even call it "painless medical aesthetics".

Currently, Pocket 3 is extremely popular on Little Red Book. The number of notes on a single topic exceeds 25 million, and the number of notes created with it exceeds 50 million, with a total volume exceeding 2.5 billion. Many people sing high praise for it, saying that it takes beautiful portraits, has a large field of view, and has good on-site sound recording.

The hot sales of Pocket 3 have also led to a situation where it is difficult to find one. On DJI's official website, except for the all-in-one package, whether it's the stand-alone version or the Vlog package, you can only choose pre-sale. After placing an order, it may take nearly 50 days to receive the product. To avoid hoarding and price gouging, DJI also stipulates that each customer is limited to purchasing one unit.

The shortage has also given rise to a second-hand business, with "scalpers" targeting Pocket 3 as their preferred object for stockpiling and price increases. Some consumers are willing to pay a premium to purchase this camera. A consumer who purchased Pocket 3 told the author, "On a second-hand platform, she chose to buy DJI's action camera by paying a premium of 500 yuan."

Even renting Pocket 3 has become an industry. Currently, renting Pocket 3 and related accessories costs about 100 yuan per day. Many people rent this camera temporarily for important moments such as travel souvenirs, checking in at internet celebrity attractions, and various anniversaries.

The most impressive is emotional marketing

The reason why Pocket 3 can leverage the consumer market is the result of a combination of market demand, technology, and price.

The shift in market trends is the first to be affected. The popularity of outdoor activities such as camping and self-driving, coupled with the prevalence of Vlog culture, has made more and more young people develop a strong interest in action cameras.

And Pocket 3, with its compact and portable design, excellent anti-shake performance, and easy operation, has successfully attracted user groups who originally only relied on their phones to record the details of their lives.

In terms of price, Pocket 3's path to popularity has also been particularly smooth. In earlier years, international brands such as GoPro had high price tags that deterred many consumers.

However, with the strong entry of domestic brands such as Insta360 and DJI's Action series, the price threshold for entry-level action cameras has been significantly lowered, and they have even entered the thousand-yuan level. This change has undoubtedly made the cost-effectiveness of action cameras reach an unprecedented height, greatly reducing the cost for consumers to try them out.

The power of social media cannot be underestimated. Through close cooperation with KOLs and vigorous promotion on social platforms, DJI has successfully shaped Pocket 3 into an internet celebrity product.

Pocket 3 appears very frequently in sharing posts from music festivals and live performances. Moreover, in popular variety shows such as "Flowers and Youth" and "Chinese Restaurant", almost every celebrity has a Pocket 3.

Its popularity has even crossed borders and expanded overseas. In an interview with Musk, a blogger used DJI Pocket 3 paired with a dual-microphone setup.

In this era where everyone is showing off their lives, "taking good photos" has become a rigid demand. And Pocket 3, with its excellent photo-taking effect, has caught the fast train of the beauty economy.

Looking back at history, it's not hard to find that many cameras have been snapped up because of their outstanding photo-taking effects. For example, Casio cameras, CCDs, iPhone 4, Fujifilm, Polaroid, etc.

Nowadays, people say that a well-decorated WeChat Moments represents a rough life, which shows the importance of taking good photos. After all, young people are fond of Pocket 3 not just because of the product's performance parameters but because it can bring them a unique shooting experience and beautiful memories. Even if they know deep down that it might "just collect dust after purchase", the urge to own it is still irresistible.

Of course, DJI's good reputation in the field of drones and imaging equipment also provides a solid foundation of trust for Pocket 3.

Strategies such as limited releases have also created a sense of scarcity, stimulating consumers' desire to buy. On various social platforms, Pocket 3 has become one of the items that many girls want to own the most recently. Of course, from a professional perspective, many tech enthusiasts believe that Pocket 3 still has some shortcomings. For example, its limited image magnification makes it inconvenient for those accustomed to high-zoom phone photography; the pixel count is not high enough, and the automatic white balance tends to be bluish when taking photos at night; the gimbal is fragile and prone to damage, touchscreen operation is difficult, and the lens often spins out of control, which also troubles some users.

In addition, the cost of product maintenance in the later stages is high, and the maintenance cycle is long. Its durability against falls is average, and it is easily damaged by accidental drops. Some users have also reported issues such as lag and crashes with DJI's supporting APP, and the shortcomings are still obvious.

It's not just DJI, these action cameras are also poised to strike

Since its launch in 2002, GoPro has long dominated the action camera market.

However, the peculiarities of this industry - extreme shooting environments - force GoPro to make compromises when pursuing image quality and ease of use. For example, to obtain a super-wide-angle field of view exceeding 150°, the lens of an action camera often has noticeable barrel distortion. At the same time, limited by the lens size, it is difficult to improve the edge image quality through complex optical design.

When GoPro faces these challenges, domestic camera brands such as Insta360 and DJI intervene strongly, injecting new vitality into the action camera market.

Unlike DJI, which has a full-line layout of action cameras, stabilizers, and drones, Insta360 focuses on Vlog thumb cameras and 360-degree panoramic cameras, making it a favorite among many digital, photography, and travel bloggers. Xu Yun, a cycling blogger, uses this camera to record the magnificent scenery of western China.

Technological progress has enabled Insta360's shipments to continue to grow, reaching 44.61 million units globally in 2023, with a compound annual growth rate of 21.2%. In the consumer-grade panoramic camera market, Insta360 has been the champion for six consecutive years.

Meanwhile, DJI's market share in the action camera market has reached 40%, making it the current top player.

In contrast, GoPro's fourth-quarter 2024 financial report showed a significant decline in revenue of 32%, with camera shipments falling 16% year-on-year, and a noticeable loss of market share.

The future of the action camera market is still full of potential. Data from consulting agencies shows that global action camera market sales continue to grow, and it is expected to reach $3.449 billion by 2021, with a compound annual growth rate of 6.1%.

So, where is the direction of the action camera market this year? Perhaps we can find the answer from the new product launches of various companies.

Insta360's Insta360 X4 can be regarded as the current strongest consumer-grade panoramic camera, not only achieving 8K30fps panoramic video recording but also featuring various shooting modes such as 360° panoramic motion HDR and 5.7K60fps. The new AI chip enhances the performance of the "bullet time" mode, with time-lapse videos supporting up to 11K. In addition, the Insta360 App has added a "Quick Cut" function to make editing smoother and more convenient.

DJI's Action 5 Pro is also in the works, marking the first product in the Action series to bear the Pro suffix. It is equipped with a 1/1.3-inch sensor, boasting exceptional HDR video recording capabilities, particularly suitable for shooting in outdoor environments with strong light. Additionally, its 2.4μm pixel size allows it to perform outstandingly in low-light conditions.

Furthermore, the Action 5 Pro introduces AI technology, such as Super Night View mode and subject tracking. Simultaneously, DJI has lowered the barrier to video editing by offering one-click editing and template selection functions in the DJI Mimo software.

GoPro also made a sudden push in 2024, unveiling multiple new products. The highlight is the new Hero, which has been significantly reduced in size and weight while retaining GoPro's iconic 4K recording, 165° wide-angle view, and HyperSmooth stabilization technology.

More importantly, the overseas pricing of this new Hero is only $199, making it highly competitive even compared to domestic counterparts. Clearly, it is targeting the mass market with the intention of broadening its user base.

Currently, the competition in the action camera market is intensifying, with major brands vying for supremacy in terms of performance enhancements, AI technology integration, high-quality image rendering, and ease of use. They continuously introduce new products and broaden the price range, making "constant evolution" the new norm in the industry.

Action cameras have leaped from the niche domain of extreme sports to the mainstream of daily life, becoming an essential tool for recording moments and sharing joy, no longer exclusive to a few.

With the enhancement of consumers' purchasing power, high-quality and high-performance products are increasingly sought after. Brands like DJI and Insta360 are going all out to compete for market share.

It can be asserted that this marathon of action cameras is far from reaching the finish line, and it remains to be seen who will emerge victorious in the end.

References:

1. "Action Cameras in 2024: DJI, GoPro, and Insta360 Compete Intensely, Focusing on Product Innovation" - Leikeji

2. "A Decade of Action Camera Turmoil: Who Wins, the Veterans or the New Black Horses?" - Lianxian Insight

3. "Selling 15 Billion in a Year: Action Cameras Transition from Social Currency to Dust Collectors" - Tech Planet