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.
Besides, digital cameras also facilitate deleting files directly from the camera without needing to connect with 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, and are gaining swift momentum globally.
Market Insights
The Global Digital Camera Market is projected to grow at a CAGR of around 4.2% during the forecast period, i.e., 2022-27. The market is driven by the swiftly rising prevalence of the internet and high penetration of social media, instigating the 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.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 4.2% |
| Regions Covered | North America: The US, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: Israel, GCC, South Africa, Rest of The Middle East & Africa | |
| Key Companies Profiled |
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, and TAMRON Co. Ltd. |
| Unit Denominations | USD Million/Billion |
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 and widen their product offerings. It is instigating them to further expand their production & distribution capacities and 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 and improving purchasing power of the people, their inclination toward buying expensive products like digital cameras is elevating rapidly and contributing to the market expansion. Additionally, prominent manufacturers are bringing features like superior image capturing and improved still & moving photography, attracting numerous consumers, both professionals & beginners, to procure these cameras and contribute to the market expansion.
Furthermore, the utilization of digital cameras is widening across the healthcare sectors and 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.
Market Segmentation
Based on the Sensing Technology:
Here, 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 the 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 and 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 and fueling the market growth.
Based on the Lens:
Here, Interchangeable lenses are anticipated to dominate the Global Digital Camera Market with the largest 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 are escalating swiftly & contributing to the overall market growth.
Regional Landscape
Geographically, the Global Digital Camera Market expands across:
Here, Asia-Pacific is anticipated to emerge as a prominent area, exhibiting growth opportunities for the leading players and 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 regions, stimulating the demand for professional cameras. In addition, 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 improvement in the economic conditions of the people and their inclination toward purchasing digital cameras, backed by developing hobbies of photography and more, are also boosting the sales & demand for digital cameras. The same aspect is also instigating the leading players to increase their production & distribution capacities and 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 market growth in the coming years. The presence of numerous prominent manufacturers well-established in the country and actively participating in the market by bringing innovations & new products to the people.
Recent Developments in the Global Digital Camera Market
Possible Restraint
As the smartphone user base is growing exponentially throughout the world, manufacturers are integrating advanced technologies and 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 the phones.
It, in turn, is challenging the digital camera industry and even decreasing the consumer base for the same. As smartphone photography is elevating swiftly with easy features & tools, these compact cameras might restrain the fledged growth of the digital camera market during the forecast period.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Digital Camera Market is projected to grow at a CAGR of around 4.2% during 2022-27.
A. Increasing consumer inclination toward smartphone photography using in-built cameras with new features & tools might restrain the fledged growth of the Global Digital Camera Market during the forecast period.
A. Interchangeable Lens are anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Digital Camera Market during the forecast period.
