Chinese brands dominate action-camera and robot vacuum markets
A recent search for an underwater camera led to an exploration of how Chinese consumer tech brands have overtaken U.S. pioneers in several product categories. GoPro, which invented the action-camera category in 2002 and held an estimated 75% of the global market in 2022, now has roughly 18% market share and disclosed in early June that there is substantial doubt about its ability to continue operating. Chinese brands DJI and Insta360 together account for over 80% of the action-camera market. A similar shift has occurred in robot vacuums: iRobot, which invented the Roomba, filed for bankruptcy in December last year and was acquired by its Chinese manufacturer, Picea Robotics. Chinese brands Dreame and Roborock have become major players in that market. The article notes that the rise of Chinese consumer tech brands has raised data-security concerns, particularly for robot vacuums that use cameras and sensors. GoPro is exploring a pivot to the defense and aerospace markets.
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Sources: restofworld.org
