How big is the digital camera market?
The global digital camera market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2028, exhibiting at a CAGR of 4.27% during 2023-2028.
What is Digital camera ?
Digital cameras are multimedia devices that are widely used for capturing and storing videos and photographs in a digital format. They comprise electronic image sensors, lens, variable diaphragm, viewfinder, aperture and the shutter. They also consist of live preview screens that display the captured files instantly, unlike film cameras. These cameras are also equipped with in-built memory card slots that enable users to extend the storage capacity of these devices as per their requirements. Aside from supporting essential image editing functions, they offer multiple specialized features that include digital zoom, auto-focus, burst shots, altering sensor sensitivity (ISO), panorama assist, best-shot selector, shutter speed and automatic white balance (AWB).
COVID-19 Impact Analysis
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Key Industry Trends of the Global Digital Camera Market:
The global market is majorly driven by the increasing preference for digital single-lens reflex (DSLR) cameras for travel and fashion and lifestyle photography. Supported by the growing influence of social media platforms across the globe, this is providing a boost to the sales of digital cameras. Moreover, the increasing participation of individuals in adventure sports activities and the growing popularity of vlogging have contributed to an increased uptake of action cameras in the recent past. These cameras are characterized by high durability and lightweight nature that allows them to be worn on the body or mounted on helmets or car dashboard camera while participating in extreme sports.
On the flip side, the increasing penetration of premium and affordable smartphones with high-resolution cameras is negatively impacting the market growth. Numerous smartphones are now being equipped with 3D cameras that can sense movements while taking pictures and yield images in the RAW format. Besides this, continuous technological innovations in smartphone cameras and the prominent presence of affordable camera rental services across the globe are also contributing to the declining sales of digital cameras.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital camera market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type.
Breakup by Product Type:
- Interchangeable Lens Cameras
- Digital Single Lens Reflex (SLR) Cameras
- Digital Rangefinders
- Line-Scan Camera Systems
- Built-in Lens Cameras
- Integration Camera
- Bridge Cameras
- Compact Digital Cameras
Interchangeable lens cameras (ILCs) represent the most popular product type as they aid in producing high-quality images. They are attached with an optical lens, which can be removed and changed depending on the requirement.
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
Asia Pacific currently represents the largest market on account of a large population and the increasing affluence of consumers in the region.
On evaluating the import and export scenario of the market, it is found that the United States is the major importer, while China is the biggest exporter of digital cameras.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
- Canon Inc.
- Nikon Corporation
- Sony Corporation
- Panasonic Corporation
- Olympus Corporation
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.