Digital Photography Is Corporate Social Responsibility a Marketing Strategy | TMR Insight

Digital photography refers to a form of photography that uses devices containing arrays of light sensitive sensors to capture pictures focused by a lens. The captured pictures are in digital format and are stored as a computer file, which can be further processed for color corrections and resizing for viewing, publishing, or printing.

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Professional photographer apart, digital photography has been adopted by many amateur snapshot photographers in the recent times as it helps them with the convenience of sending images by email or uploading them on the World Wide Web. This extended demand from amateur photographers in the past decade is reflecting on the global digital photography market, which was estimated at US$82.6 bn in 2016, is projected for a healthy growth rate during the forecast period of 2016 to 2024.

The digital photography market includes complimentary products such as cameras, interchangeable lenses, storage cards, printers, photo editing software, camera cell phones, and digital photo frames. Collectively, the market for these complimentary products was valued at US$ 68.5bn, which makes it a highly lucrative opportunities for the players.

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Global Digital Photography Market: Trends and Opportunities

In the recent past, digital media has revolutionized the face of digital photography with the emergence of photo sharing sites, networking sites, and blogging sites. This incremented participation of vast populations on the Internet is rated as the primary factor that is extending the demand in the global market for digital photography. Moreover, the key players in this market are constantly innovating and introducing new products to catch the attention of the consumers. For example, wireless cameras are expected to witness a surge in demand in the mature markets of the U.S., Japan, Europe, and other emerging economies in Asia Pacific. Video and Digital cameras are expected to soon evolve into network devices, which will create new opportunities for the wireless operators and film suppliers. With digital cameras accessing personal computers and the Internet via wireless data connection, new levels of convenience for the consumers.

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The global market for digital photography can be segmented on the basis of products, application and geography. By products, the market can be divided into processing equipment, interchangeable lenses, and camera smartphones. By application, the market can be divided into photography software and photo processing.

Global Digital Photography Market: Region-wise Outlook

Geographically, North America and Europe contribute to the maximum demand in the global market, which is a reflection of high purchasing potential of the populations in those region, particularly in the countries of the U.S., the U.K., Canada, France, and Germany. However, with the exponential rise of the social media in the emerging economies in Asia Pacific, which has vastly populated countries such as India and India, are projected for a robust growth rate during the forecast period.

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Companies mentioned in the research report
Some of the key players currently operational in the global market for digital photography are Nikon, Sony, Kodak, Konica Minolta, Canon, and Samsung.

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