Press Release Description

Digital Camera Market to Flourish with the Adoption of Photography as a Hobbies Among Individuals

The Global Digital Camera Market size was valued at around USD 5 billion in 2022 and is further projected to grow at a CAGR of around 5% during the forecast period 2024-30., cites MarkNtel Advisors in their recent research report. The market is driven by the changing living standards & improving purchasing power of the people, demonstrating a higher inclination toward buying expensive products like digital cameras & positively influencing the market expansion.

Besides, several prominent manufacturers are introducing new features in cameras, like superior image capturing & improved still & moving photography, attracting consumers, including professionals & beginners throughout the world. Moreover, the expansive utilization of digital cameras is also seen widely across the healthcare sector in numerous medical equipment like microscopes & ophthalmological equipment, among others.

Hence, with the expansion of the healthcare industry & growing procurement of such devices to cater to the rising patient influx, the digital camera industry shall witness a hike & grow substantially in the coming years, further states the research report, “Global Digital Camera Market Analysis, 2024.”

Consumer Inclination Toward Advanced Sensing Technologies to Drive the Demand for CMOS Cameras

Based on the sensing technology, the market is fragmented into Charge-Coupled Device (CCD) & Complementary Metal Oxide Semiconductor (CMOS). Of them, Complementary Metal Oxide Semiconductor (CMOS) is anticipated to acquire the most considerable share of the Global Digital Camera Market during the forecast period. This dominance attributes principally to the growing awareness among consumers about the capabilities of CMOS technology in cameras to bring faster-processing speed & greater sensitivity than other technologies like CCD.

Global Digital Camera Market

Moreover, the technological sector is constantly undergoing research & developments and introducing new upgrades in CMOS, enhancing the look & features of the camera altogether. Therefore, the consumer base for digital cameras equipped with CMOS technology is anticipated to upswing & drive the overall market during the forecast period.

Expansive Media & Entertainment Industry in Asia-Pacific to Drive the Digital Camera Market

Geographically, Asia-Pacific is projected to emerge as a prominent area exhibiting growth opportunities for the leading players & shall contribute substantially to the expansion of the Global Digital Camera Market during the forecast period. This is due to the vast media & entertainment industry entwined with the massive support from the governments of different countries in the region for the industry. It, in turn, is augmenting the demand for professional cameras & fueling the Asia-Pacific Digital Camera Market growth.

Furthermore, with a rise in the adoption of hobbies like photography & videography, alongside improving purchasing power of the people in the region, the sales & popularity of digital cameras are elevating swiftly & driving the industry. The same aspect is also generating opportunities for the leading players to supplement their production & distribution capacities and cater to the burgeoning demands.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Apple Inc., Acer Inc., Canon Inc., Eastman Kodak Company, Fujifilm Holdings Corporation, Kyocera Corporation, Koninklijke Philips NV, Nikon Corporation, Olympus Corporation, Panasonic Corporation, Ricoh Imaging Company, Ltd., Sigma Corporation, Sony Corporation, TAMRON Co. Ltd., and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across various regions?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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