Global Digital Camera Market Insights | Growth Market Reports
Global Digital Camera Market
The global digital camera market size is anticipated to expand at a CAGR of less than 11% during the forecast period, 2021 – 2028. The growth of the market is attributed to the demand for high-quality images & videos, lightweight digital cameras, and increased storage capacity for images or videos.
A digital camera is an electronic device used to store and capture videos and images in digital form. Increasing trend of sharing images and popularity of social networking on some platforms are responsible for the growth of the digital camera market. Adobe Photoshop, a popular photo editing application, increased the demand for digital cameras. Product penetration is low in some countries such as India and Brazil, which offers opportunities to many end-users for investment in digital cameras. The market in North America and Europe is projected to grow, due to rising innovations and demand for replacement.
Get Exclusive Sample Report at: https://growthmarketreports.com/request-sample/667
Increasing number of social media platforms and digital photography platforms with advanced technology are responsible for the growth of the digital camera market. Players such as Sony, Fujifilm, Canon, and Nikon are engaged in innovating mirror-less cameras in the field.
Demand for compact digital cameras increased, due to action photography. Use of social media platforms has increased for photography. Many professionals use DSLRs to take images and upload them, which results in rising demand for digital cameras. Lockdowns across the globe, due to COVID-19, increased the use of social media platforms for digital photography. Sony expanded its portfolio by launching products for use during the pandemic.
Rising adoption of smartphones for photography affected the demand for digital cameras, mainly shoot cameras and compact cameras.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing demand for applications in media, sports, and entertainment boosts the market.
- Use of advanced technology unfolded various opportunities to fuel the digital camera market.
- Shifting consumer preferences from digital cameras to smartphone cameras is anticipated to hamper the digital camera market over the forecast period.
- Large amount of time required to transfer data and high cost of camera act as restraints to the market growth.
Market Segment Insights
Interchangeable lens cameras are expected to gain a key market share
Based on products, the global digital camera market is divided into built-in lens camera, interchangeable lens camera, DSLR, and non-reflex. Demand for built-in lens cameras is projected to grow over the next six years, with shipments anticipated to reach 150 million units by 2028. Smartphones offer internet connectivity and enable users to upload images on social networking platforms, which reduced the market share of built-in lens cameras.
DSLRs (Digital Single Lens Reflex camera) are premium camera models with rising popularity in developed nations. In 2012, DSLRs accounted for around 17% of the global digital camera unit shipments.
Interchangeable lens cameras are anticipated to expand a high CAGR over the forecast period. In developed countries consumer spending on DSLRs and mirror-less cameras increased. In 2012, market revenue of interchangeable-lens digital cameras was USD 7,534 million. Convenient usage, performance efficiency, and compact size of interchangeable lenses are projected to drive the demand for digital cameras.
For Any Questions On This Report: https://growthmarketreports.com/enquiry-before-buying/667
Regional Outlook
On basis of regions, the digital camera market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to be a large market over the forecast period. The digital camera market in Asia Pacific accounted for around 34% of the total global shipments in 2020.
North America dominated the global market in the recent past. Rate of ownership of digital cameras reached maturity in England and North America. Demand for digital cameras is consistently decreasing in the US, France, Germany and the UK over the past few years. Demand for digital cameras in these regions are expected to be replaced by the demand for compact cameras. Digital camera unit shipments in North America are projected to reach 37500 thousand units in 2028, growing at CAGR of around 6.2% from 2021 to 2018.
Competitive Landscape
The digital camera market is consolidated and mostly dominated by Japan-based players. Key players include Nikon, Canon, Samsung, Fujifilm, Sony, Panasonic, Olympus, Gopro, Eastman Kodak, AEE, Sioeye, OKAA, Blackvue, Papago, DOD, GARMIN, and Philips.
Key players are focusing on product development by offering maximum benefits and features in a single device to consumers. Consumer feedback plays an important role in product development. The players are investing high amount of money in research and development. Brand reinforcement is one of the key strategies implemented by the players, which includes promotional activities.
About Growth Market Reports:
GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Contact:
Growth Market Reports
Phone: +1 909 414 1393
Email: [email protected]
Web: https://growthmarketreports.com
About the Creator
Amaya Taylor
SEO Executive
Enjoyed the story? Support the Creator.
Subscribe for free to receive all their stories in your feed. You could also pledge your support or give them a one-off tip, letting them know you appreciate their work.
Keep reading
More stories from Amaya Taylor and writers in Journal and other communities.
Complex Injectable Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
The global complex injection market size was valued at USD 483.45 billion in 2019 and is estimated to reach USD 1251.28 billion by 2028, expanding at a CAGR of 12.9% during the forecast period, 2021 – 2028. Growth of the market is attributed to change in the forms of medication.
By Amaya Taylor2 years ago in Journal
I Finished Grad School!
I finished my Master’s Degree! Did I learn anything? Arguably. Do I regret it? Not particularly. Will I use it? Not immediately. My Master’s Degree was challenging. I feel as though it precluded me from living out the life I’ve wanted to live these past two years: traveling the world, working abroad, seeing new sights. Was that what I was doing before I came to Binghamton University to start my Master’s Degree in Theatre? Absolutely, it was. Before coming to Binghamton, I was an ESL teacher. I’d worked in Ukraine the previous summer, and in Slovakia the autumn after that. That job in Slovakia broke me: the management was rude, there wasn’t much of a support system in place, and I’d gotten ill several times. That awful experience was what drew me to applying for Master’s programs to start in 2022.
By Steven Christopher McKnight24 days ago in Journal
The Power Of Perception: 5 Reasons Why You Need Branding
In today’s crowded marketplace, standing out is more crucial than ever. This is where branding comes in. Branding isn’t just about a fancy logo or catchy slogan; it’s the foundation of how the world perceives you. It’s the story you tell, the emotions you evoke, and the value you represent.
By iDigitize Infotech LLP5 days ago in Journal
Smartystan
Flags flew freely in the summer breeze. They consisted of a gray and white brain against a black background. Scales of gold sat just beneath the image of the organ. The sun rose at just the zenith and shared its light and warmth with the attendees to one of the country-states’ greatest accomplishments: the graduation of two women who had been in a halfway house and found their passions for art design and communications. Mala and Sheltham looked on with sunglasses and cheered the graduates. With the knowledge they had months to go before being up on that stage, they looked at each other and grinned. After the ceremony, they walked into a pizza restaurant that fit their budgets.
By Skyler Saunders3 days ago in Chapters
Comments
There are no comments for this story
Be the first to respond and start the conversation.