Press release
Global Digital Camera Market Size To Reach A Value Of USD 9.78 Billion By 2027
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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Digital Camera Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 7.19 billion
• Forecast CAGR (2022-2027): 4.7%
• Forecast Market Size (2027): USD 9.78 billion
The demand for digital cameras is increasing with the surging trend of photography as these cameras aid in capturing and storing videos and photos digitally instead of printing them to film as traditional analogue cameras. Such devices also offer basic image editing functions, involving image enhancement, and cropping which is driving the demand for the digital camera market across the globe. Other key features are BSS-best shot selector, burst shots, auto-focusing, optical zoom, ISO, and AWB updates.
In addition to taking pictures, various digital cameras are efficient in recording videos. It utilises a lens along with a variable diaphragm to change the electronic lighting, and a viewfinder monitor to exhibit a taken video or image.
The major advantage of digital photography is its immediate image and video viewability coupled with the image editing software which is employed for recolouring, cropping, contrast/imperfection adjustment, and combining one or more images. This is further anticipated to bolster the market demand for digital cameras globally.
Growing social media platforms such as Instagram are propelling the market growth of digital cameras. They offer opportunities to consumers worldwide to engage in photography. Most users capture images employing professional DSLRs and later post them to the social media platform, rather than just capturing photographs through phones.
Digital Camera Industry Definition and Major Segments
A digital camera is also called a digicam. It uses an electronic image sensor to record video and capture still pictures. Its optical system functions like a film camera, in which a diaphragm and lens are employed to modify electronic image sensor lighting. Digital cameras are used by expert, professional, and nonprofessional photographers with several automated control functions. The new generation digital cameras enable easy handling of most functions.
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On the basis of type, the digital camera market is segmented into:
• Interchangeable Lens Cameras
o Digital Single Lens Reflex (SLR) Cameras
o Digital Rangefinders
o Line-Scan Camera Systems
o Mirrorless Camera
• Built-in Lens Camera
o Bridge Cameras
o Compact Digital Cameras
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa
Digital Camera Market Trends
The surging demand for lightweight cameras coupled with premium quality digital cameras, and the rise in applications of digital cameras in sports, entertainment, and media are aiding the digital camera market growth. The rising demand for digital single-lens reflex cameras is likely to fuel the market growth of digital cameras owing to an upsurge in digitalisation. Their easy usage as well as robust demand related to similar markets is likely to propel the market growth of digital cameras during the forecast period.
Going further, digital single-lens reflex cameras have developed as a budding segment providing high-quality images. Moreover, evolving technology, like the assimilation of AI along with the expansion of lightweight mirrorless cameras are expected to fuel the digital camera market growth over the upcoming years. The increasing investment by the major market players and rising involvement in travel and tourism activities coupled with fuelling demand for modern cameras among several users are projected to augment the market growth of digital cameras across the globe.
The demand for lightweight, compact, and high-quality cameras is soaring with the surging interest and enthusiasm of consumers for sight capturing. Additionally, the emergence of digital cameras along with smartphones has built a mainstream profession of photography. A growing requirement for premium-quality cameras with user-friendly interfaces as well as affordable prices are further positively influencing the demand for the digital camera market. The dependency of commercial photography on digital cameras is bolstering the market demand for example action photography is driving the demand for compact digital cameras.
Geographically, the Asia Pacific region is expected to register significant growth in the digital camera market due to the rising consumer affluence along with the growing population across the region.
Key Market Players
The major players in the global digital camera market report are
Canon Inc.,
Sony Corporation,
Nikon Corporation,
Panasonic Corporation,
Olympus Corporation,
others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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