Mirrorless Camera Market To Reach USD 2.54 Billion By 2030

According to the report published by Virtue Market Research, the Global Mirrorless Camera Market was estimated at USD 1.90 Billion in 2022 and is anticipated to be a value of USD 2.54 Billion by 2030, growing at a fast CAGR of 3.67% during the forecast period 2023-2030.

A mirrorless camera is a digital camera with no reflex mirror (the main component of the digital single-lens reflex (DSLR) camera, which reflects the light up to the viewfinder). There is no optical viewfinder present in a mirrorless camera. Instead, it uses an electronic viewfinder (EVF) to display images digitally. These cameras consist of advanced technological features, including in-body image stabilisation (IBIS) for stable photographs and videos, touch screen live view for a seamless switch between different modes, a high-resolution mode for detailed images, Eye Detection AF for automatically focusing on the eyes of the person, and silent shutter for soundless photo capturing process. Mirrorless cameras are lightweight and compact in size. The growing adoption of the mirrorless camera as a profession is fuelling market growth. As consumers become more interested in photography and videography, the demand for lightweight, compact, and high-quality cameras rises. The rise of vlogging and content creation on social media platforms, such as YouTube, Facebook, Instagram, and Twitter, have increased the demand for mirrorless cameras and fuelled market growth.

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The outbreak of the COVID-19 pandemic had a negative impact on the global mirrorless camera market. Mirrorless camera shipments witnessed a downfall in sales during the pandemic. Most major mirrorless camera manufacturers encountered supply chain disruptions and recorded a decline in sales in the past few years. Moreover, travelling restrictions imposed across different countries during COVID-19 generated a loss of income for professional photographers, leading to the lack of resources to purchase new models of cameras. These restrictions led to a decrease in demand for mirrorless camera. However, after the ease of lockdown restrictions, the global mirrorless camera market witnessed rapid growth due to the development of new products. The advancements in technology and the growing number of online platforms based on social media and photography created new opportunities for mirrorless camera manufacturers. Major companies, such as Canon, Nikon, Olympus, and Sigma, are investing highly in new creations and innovations in the mirrorless cameras. The development of the Micro Four Thirds (MFT) system is another factor fuelling the growth of mirrorless cameras. The advantages of MFT include 4K video, 4K photo mode, focus stacking, a silent shutter, touch-screen display, in-camera image stabilization, panorama mode, and wireless uploads.

Segmentation Analysis:

The Global Mirrorless Camera Market includes:

By Sensor Type:

• CMOS sensor
• Exor CMOS
• Back illuminated CMOS
• X Trans CMOS
• Dual Pixel CMOS

A CMOS sensor contains an integrated circuit that records an image. It consists of millions of pixel sensors (each of which has a photodetector). As light enters the camera through the lens, each photodetector generates an electrical charge in response to the amount of light it receives. The camera then converts that charge into a digital reading, which determines the colour and intensity of the light measured by each photodetector. These readings get transformed into the individual pixels that make up the image when displayed together by the software.

By Stabilization:

• Lens-Based
• Sensor-Based

Lens-based stabilization employs a floating lens element that is electronically controlled and shifted in opposition to any recorded camera shake. The benefit of this stabilization is smoother performance when using longer focal-length lenses. The limitation of this stabilization is that it's unavailable as an option for all lenses and adds to the cost of the lens.

By Focus System:

• Phase detection autofocus
• Contrast detection autofocus

Phase detection AF is the autofocus system used in viewfinder shooting on mirrorless cameras. Its rapid autofocusing speed is its primary feature. It creates two images by dividing the light entering the lens in half. The camera determines the required direction (towards or away from the camera) and the distance to move the lens to achieve focus based on the difference in the focus point position between these two images and moves the lens accordingly.

By Region:

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

The North American region is anticipated to dominate the global mirrorless cameras market during the forecast period due to the high adoption rate of technologically advanced products. The increasing demand for lightweight, high-quality mirrorless cameras is fuelling the growth of the global market. Moreover, the increased use of mirrorless cameras in entertainment, media, fashion, and sports drives the North American mirrorless camera market. High disposable income in the United States and Canada is also a vital factor in the mirrorless camera market growth.

The Asian Pacific region holds the second-highest share in the global mirrorless camera market. Recent photography and videography trend has fuelled the demand for mirrorless cameras in this region. Asia-Pacific region is projected to be one of the significant regions in the global mirrorless camera market over the forecasted period, with the presence of prominent companies, namely Canon, Nikon, Panasonic, Sony, and Fujifilm. Increased disposable income and enthusiasm for photography and videography are projected to fuel market growth. The rising number of wedding events, wildlife photography, the movie industry, and other factors in the Asia-Pacific region have positively impacted the mirrorless camera market.

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Latest Industry Developments:

• In January 2023, Nikon announced the development of the NIKKOR Z 85mm f/1.2 S, a fast mid-telephoto prime lens, and the NIKKOR Z 26mm f/2.8, a compact wide-angle prime lens for the Nikon Z mount system.
• In October 2022, Olympus unveiled the brand-new OM SYSTEM OM5 Camera. It has a TruePic IX Image Processor, a 20.4MP BSI Live MOS sensor, and a magnesium-alloy body that is less than a pound in weight. It also comes with a battery and a memory card.
• In September 2022, Hasselblad introduced the powerful X2D 100C and three brand-new XCD lenses-the XCD 2,5/38V, XCD 2,5/55V, and XCD 2,5/90V-to provide content creators with the ultimate experience.

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This release was published on openPR.