Global Digital Camera Market Research Report: Forecast (2023-2028)

Market Definition

Digital Cameras are devices that capture images & videos, which can be displayed on the viewfinder or live preview screen instantly. In contrast to conventional analog cameras, digital cameras come with inbuilt slots for memory cards. Such aspects enable the user to store numerous images as per the storage capacity.

It also facilitates deleting files directly from the camera without needing to connect to a device. These cameras also offer advanced features like burst shots, shutter speed, auto-focus, best-shot selector, digital zoom, & altering sensor sensitivity (ISO) & automatic white balance (AWB), among others.

Market Insights & Analysis: Global Digital Camera Market (2023-28)

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, i.e., 2023-28. The market is driven by the swiftly rising prevalence of the internet & high penetration of social media, instigating users to click & upload pictures & videos and increase public engagement. It, in turn, is augmenting the demand for digital cameras to capture & attain images & videos instantly.

Besides, the advent of applications like photo editors to enhance the image is also backing the high demand for digital cameras worldwide. The same aspect is presenting growth opportunities for the leading players to make substantial investments in digital cameras & widen their product offerings. It is instigating them to expand their production & distribution capacities & cater to the burgeoning demands of the people across geographies. Relatively lower product penetration across countries like India & Brazil are some prominent areas of opportunity for the players.

Moreover, with the changing living standards & improving purchasing power of the people, their inclination toward buying expensive products like digital cameras is elevating rapidly & contributing to market expansion. Additionally, prominent manufacturers are bringing features like superior image capturing & improved still & moving photography, attracting numerous consumers, both professionals & beginners, to procure these cameras & contribute to the market expansion.

Furthermore, the utilization of digital cameras is widening across the healthcare sectors & gaining swift momentum. It finds application in medical equipment like microscopes & ophthalmological equipment, among others, for applications like research, diagnosis, surgeries, monitoring patient health at hospitals, etc. Hence, such adoption shall also back the growth of the Global Digital Camera Market during the forecast period.

Global Digital Camera Market Driver:

Increasing Popularity of Social Media & Content Creation – The rise of social media platforms such as Facebook, Instagram, Twitter, etc., has fueled the demand for digital cameras to share high-quality images & videos with their followers & creating engaging content. As photography continues to be trending among individuals as art & a means of creative expression, many individuals invest in digital cameras to enhance their photography skills & capture unique moments.

Further, these photographs & video content are being shared on social media platforms to gain popularity among followers & friends. Additionally, the rise in the sale of smartphones & penetration of high-speed internet has contributed to the growing usage of social media platforms among individuals. The penetration of less-priced smartphones like Xiaomi, Vivo, Oppo, etc., in developing economies, has led to an upsurge in the adoption of smartphones among consumers, which further raises the number of users of social media platforms.

Also, the government of the countries such as the US, France, India, the UAE, and others have been taking initiatives to upsurge 5G internet connectivity across the respective countries allowing consumers to access social media with faster speed. Hence, the expansion in the users of social media platforms would play a key role in the increasing sale of digital cameras in the years to come, further enhancing the Digital Camera Market size in the upcoming years.

Global Digital Camera Market Possible Challenge:

Rising Penetration of Smartphones Exhibiting Exceptional Camera Technology – As the smartphone user base is growing exponentially throughout the world, manufacturers are integrating advanced technologies & innovative features into these devices to offer an exceptional user experience. It is also where the utilization of cameras is increasing swiftly with modern facilities like live photos, shutter, burst pictures, high-definition qualities, and more, alongside easy accessibility & storage of files in phones.

This, in turn, is challenging the digital camera industry & even decreasing the consumer base for the same. As smartphone photography is elevating swiftly with easy features & tools, these compact cameras might restrain the Digital Camera Market growth during the forecast period.

Global Digital Camera Market Growth Opportunity:

Integration of AI & Computational Photography in the Digital Camera – Incorporating artificial intelligence (AI) & computational photography has been playing a key role in enhancing the performance of digital cameras. AI has been efficient in analyzing the scene being captured & adjusting the camera settings accordingly, such as exposure, focus, white balance, etc., in real-time to ensure optimal image quality.

AI-powered autofocus can also track & click pictures of fast-moving objects or shoot in challenging conditions. Moreover, the integration of AI technology in the digital camera has many additional features like automated photo editing, predictive photography, real-time Language Translation, and others which would create an opportunity for the expansion of the market size of the Digital Camera Market in the forecast period.

Global Digital Camera Market Key Trend:

Surging Adoption of Mirrorless Cameras in the Market – Integration of Mirrorless cameras has been an emerging trend in the Global Digital Camera Industry. With their sleek & compact design, mirrorless cameras have enhanced the photography landscape, drawing both enthusiasts & professionals to adopt this technology. By eliminating various accessories & components in the DSLRs such as mirror box, pentaprism, etc., mirrorless cameras have gained popularity by delivering the same level of performance as traditional cameras.

In addition, these mirrorless cameras consist of sophisticated autofocus systems that include on-sensor phase-detection and contrast-detection technology, which increases the accuracy of capturing moving objects. Moreover, the integration of electronic viewfinders & live view functionality in these cameras have been efficient in providing real-time exposure previews & elevating the precision of composition.

As video capturing & reel-making have gained wide traction in the market, mirrorless cameras have been effective in offering high-resolution recording, customizable settings, and stabilization capabilities. Hence, the growing adoption of mirrorless digital cameras among photographers, videographers, and others is projected to increase the Global Digital Camera market in the coming years.

Global Digital Camera Market (2023-28): Segmentation Analysis

The Global Digital Camera Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the level. In accordance to the analysis, the market has been further classified as:

Based on Sensing Technology:

• Charge-Coupled Device (CCD)
• Complementary Metal Oxide Semiconductor (CMOS)

Complementary Metal Oxide Semiconductor (CMOS) is anticipated to dominate the Global Digital Camera Market with the largest share during the forecast period. The market growth attributes to the capabilities of CMOS cameras to offer faster-processing speed & greater sensitivity than other technologies like CCD. Besides, with continual technological advancements & the advent of new software & display upgrades in CMOS digital cameras, the market is observing a mounting consumer base for these cameras throughout the world.

Moreover, a CMOS exhibit a photodiode & transistor switch for each pixel, which allows pixel signals to amplify singularly & bring excellent image quality at a higher speed. Such features also offer advantages like minimal noise while reading electrical signals during a capture. Hence, the demand for cameras exhibiting CMOS is growing swiftly & fueling the market growth.

Based on Lens:

• Built-in Lens
  • Integration Camera
  • Bridge Cameras
  • Compact Digital Cameras
• Interchangeable Lens
  • Digital Single Lens Reflex (SLR) Cameras
  • Digital Rangefinders
  • Line-Scan Camera Systems

Interchangeable lenses are anticipated to dominate the Digital Camera Market accounting for a substantial share during the forecast period. This dominance attributes to these lenses offering the facility to attach or detach the lens from a DSLR (Dual Single-Lens Reflex) or Mirrorless camera, where the camera is equipped with such interchangeable features, allowing the user to attain variety & creativity in shooting scenarios. Hence, with the growing awareness among people about such facilities in cameras, the demand for interchangeable lenses is escalating swiftly & contributing to the overall market growth.

Global Digital Camera Market Regional Projection:

Geographically, the Global Digital Camera Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Asia-Pacific is anticipated to emerge as a prominent area, exhibiting growth opportunities for the leading players & contributing substantially to the market expansion in the coming years. It owes principally to the massive film & media industry across different countries like India, China, Japan, and South Korea, among others, in the region, stimulating the demand for professional cameras. The growing support from the governments of different countries in the entertainment industry has a prominent role in augmenting the high demand for cameras.

Besides, gradual improvements in the economic conditions of the people & their inclination toward purchasing digital cameras, backed by developing hobbies of photography & more, are also boosting the sales & demand for digital cameras. The same aspect is also instigating the leading players to expand their production & distribution capacities & cater to the burgeoning demands across Asia-Pacific, leading the market toward substantial growth in the future. Moreover, countries like Japan are also generating opportunities for industry growth in the coming years.

Global Digital Camera Industry Recent Development

• 2023: Fujifilm announced the launch of the latest addition to the X series of the of mirrorless digital cameras, the X-S20.
• 2023: Sony launched the “Sony ZV-1 II camera” with a brand-new 18-50mm f/1.8-5 lens with a range of new modes to make vlogging easier and better.

Gain a Competitive Edge with Our Global Digital Camera Market Report

1. Global Digital Camera Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Digital Camera Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.