PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1359043
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1359043
According to Stratistics MRC, the Global Digital Camera Market is accounted for $9.594billion in 2023 and is expected to reach $15.00billion by 2030 growing at a CAGR of 6.6% during the forecast period. A digital camera is a hardware device that captures images and transfers them as data to a memory card. To detect light intensity and colour and turn it into pixel data, the digital camera is made up of digital optical components. Along with shooting pictures, digital cameras also have the ability to record video. Digital photos and movies can be seen through the viewfinder or on a live preview screen as they are taken using digital cameras.
According to the data presented by the Camera & Imaging Products Association, in 2018, the shipment volume of the built-in digital cameras in China reached 3,87,800 units.
The digital camera is used extensively in various fields, including sports media, studio photography, wild photography, etc. The stadium's high-speed and digital camera setup enhances viewing quality by enabling spectators to witness slow-motion replays during crucial game situations. In a similar way, high-resolution digital cameras make it easier to take clear and detailed pictures and films for studio, landscape, and wildlife photography. Demand for compact digital cameras like GoPro has surged as a result of the focus on action photography. The scope of photography has also been greatly broadened by social media sites like Instagram, which is anticipated to fuel the expansion of the digital camera industry.
The market for digital cameras was greatly impacted by the widespread use of smart phones. Due to the fact that smart phones combine several functions into a single device, many users find them to be more beneficial. Smartphone cameras can now capture high-quality photographs in a variety of settings owing to developments in computational photography and image processing. These factors are reducing the market growth.
Manufacturers of digital cameras are focusing their efforts on producing lightweight, small, and high-quality cameras that can deliver images that are superior to those of leading cell phones and efficiently meet the demands of both amateur and professional photographers. The market for small digital, bridge, and mirror less cameras has surged as a result of the growing emphasis on cameras that are portable, lighter, and capable of improved autofocus coverage and superior video performance.
Mirrorless cameras are increasing in acceptability as a competitive alternative to conventional DSLR cameras. Manufacturers of DSLR cameras may experience a reduction in sales as a result of consumers' preference for mirrorless cameras. However, the rise of social media platforms, where instant sharing and filters are popular, has influenced the way people approach photography. These elements are decreasing market growth.
The COVID-19 pandemic had an immense impact on the market for digital cameras. Digital camera sales faced difficulties as a result of the widespread closure of retail establishments and decreased consumer spending. The epidemic has hampered production and supply chains, delaying the introduction of new camera models and leading to shortages of some camera parts. Additionally, it resulted in a considerable decrease in digital camera manufacturing and order delays for the packaging industry. Additionally, the closing of retail locations resulted in a decrease in demand for digital cameras, which restrained the market's expansion. However, a change in consumer behaviour during the pandemic-more individuals working from home, taking classes online, and spending more time on social media-increased demand for high-quality products.
The Digital Single Lens Reflex (SLR) segment is estimated to hold the largest share. DSLR Cameras are very effective for shooting in dim lighting, as the larger sensor can capture more light. They have better autofocus features than point-and-shoot cameras, allowing them to focus and shoot faster to capture more high-quality images. Moreover, a DSLR camera will give better resolution, sharpness, and clarity because it uses a larger sensor to capture the image and more powerful processing power. It also gives you the versatility of interchangeable lenses. Its target audience of photography enthusiasts and professionals with advanced features and superior image quality. One major advantage offered by DSLRs is that users can change lenses as per their needs without changing the camera body.
The Full-Frame Cameras segment is anticipated to have lucrative growth during the forecast period. Full-frame cameras provide distinct benefits in terms of adaptability and image quality. Due in large part to the larger sensor size, full-frame cameras are renowned for their improved image quality. It provides better depth-of-field control, enabling photographers to create shallow depth-of-field effects. Full-frame cameras are able to produce a narrower depth of field due to their larger sensor and wider aperture lenses, which is extremely desirable for portraits and several other types of photography. Wide-angle capability, depth of field control, low-light performance, and image quality are just a few of the uses for full-frame cameras.
North America is commanded the largest market share during the extrapolated period due to the rapid adoption of cutting-edge technology. There are numerous camera manufacturers and a huge customer base in this area. Despite the widespread use of cutting-edge camera technology by photographers and content makers, there is still a considerable demand for high-end DSLRs and mirrorless cameras. Additionally, new developments in this field include Wi-Fi and Bluetooth connectivity for sharing and remote control. Video highlights are gaining importance due to the rising demand for unique content on platforms like YouTube and social media. A significant element driving the global market for digital cameras is the surge in demand for portable, high-quality cameras. The market for digital cameras in North America is being driven by an increase in the use of digital cameras in entertainment, media, and sports.
Asia-Pacific region is expected to witness profitable growth over the projection period. Asia-Pacific has a large number of photography enthusiasts and professionals and a thriving content creation industry. Mirrorless cameras are popular here due to their balance of performance and portability. Smartphone integration is a significant trend. Camera manufacturers are prioritising seamless connectivity and sharing options to appeal to smartphone-savvy consumers. China and India offer growth potential due to their large consumer bases and increasing digital camera adoption. Cultural, economic, and income factors shape the digital camera market in these regions. The market in these regions allows for innovation and customization to meet diverse consumer preferences and requirements.
Some of the key players in the Digital Camera Market include: Sony Corporation, Canon Inc., Panasonic Corporation, Nikon Corporation, Olympus Corporation, Eastman Kodak Company, Om Digital Solutions Corporation, Leica Camera Ag, Fujifilm Holdings Corporation, Victor Hasselblad AB, Ricoh Imaging Company, Ltd, Sigma Corporation, Pentax Corporation, Koninklijke Philips N.V, Samsung Group, Kodak, Polaroid, Digitek, TecToy and Blackmagic Design
In September 2022, in response to user demand, Canon U.S.A., Inc., a major provider of digital imaging solutions, announced the addition of a suite of products to its cinema and broadcast offerings. The CINE-SERVO 15-120mm T2.95-3.95 EF/PL (CN8x15 IAS S) is Canon's latest 8K CINE-SERVO lens for a wide range of productions, the EU-V3, a modular expansion unit for the EOS C500 Mark II and EOS C300 Mark III cameras, a Cinema EOS firmware update, and the DP-V2730i, a 27-inch 4K professional reference display that may seamlessly fit into workflows.
In September 2022, Nikon Corporation has announced the NIKKOR Z 17-28mm f/2.8, an ultra-wide-angle zoom lens compatible with Nikon Z-mount full-frame/FX-format mirrorless cameras. The NIKKOR Z 17-28mm f/2.8 is an ultrawide-angle zoom lens having a focal length range of 17 to 28 mm and a fast constant maximum aperture of f/2.8. This lens is extremely portable, with a total length of roughly 101 mm*1 and a weight of around 450 g, in addition to having superb optical performance.
In September 2022, Canon USA, Inc. announced the release of four professional camcorders, the XA65, XA60, XA75, and XA70, as well as the VIXIA HF G70 camcorder. The new camcorders are suitable for various applications, including documentaries, corporate events, and education. These models provide exceptional performance, capturing spectacular 4K resolution content, HD UVC Streaming through USB-Ci, and superior focusing and facial detection capability. They all offer MP4 and On-Screen Display (OSD) recording, with the four professional camcorders supporting XF-AVC recording for broadcast purposes. Canon has also released a software update for the XF605 camcorder.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.