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Digital Camera Market Analysis, Top Drivers, Key Players, Segmentation And Forecast To 2033
Digital Camera Market Analysis
Digital Camera Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $8.76 billion In 2028 At A CAGR Of 6.2% :
The digital camera market size has grown strongly in recent years. It will grow from $6.44 billion in 2023 to $6.81 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increased innovations to make the devices more user-friendly, consumer electronics market growth, rise of social media and digital sharing, integration with other devices, and improved image quality and features.
The digital camera market size is expected to see strong growth in the next few years. It will grow to $8.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.2% The growth in the forecast period can be attributed to the rise of mirrorless cameras, enhanced connectivity features, focus on sustainability and eco-friendliness, demand for specialized cameras, and emerging market growth. Major trends in the forecast period include advancements in sensor technology, integration of artificial intelligence, focus on specialized cameras, sustainability and eco-friendly design, and customization and personalization.
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Digital Camera Market Major Segments
The digital camera market covered in this report is segmented -
1) By Type: Compact Digital Cameras, Mirrorless Interchangeable Lens Cameras, Digital Single-Lens Reflex Cameras
2) By Lens Type: Built-In, Interchangeable
3) By Digital Sensor Type: Charge-Coupled Device (CCD) Sensor, Complementary Metal-Oxide-Semiconductor (CMOS) Sensor, Live Metal-Oxide-Semiconductor (MOS) Sensor
4) By Resolution: Low-Resolution Cameras, High-Resolution Cameras
5) By End User: Personal, Profession
Key Driver - Smartphone Penetration Driving Growth Of Digital Camera Market
The increasing penetration of smartphones is expected to propel the growth of the digital camera market going forward. Smartphones refer to mobile devices that combine the functionality of a cellular phone with features typically found in a personal computer. Smartphone penetration is rising due to technological advances, affordability, better connectivity, diverse functions, ecosystem integration, and digital lifestyle trends. Smartphones enhance digital cameras by offering editing tools, instant sharing, connectivity, and serving as complementary devices for storage, remote control, and content management. For instance, in April 2022, according to the Department of Telecommunications under the Ministry of Information and Communications, a Vietnam-based regulatory agency, smartphone subscribers in Vietnam increased from 91.3 million in 2021 to 93.5 million subscribers in 2022, equivalent to 73.5% of the nation's adult population. The increasing penetration of smartphones is driving the growth of the digital camera market.
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Prominent Trend - Next-Generation Advanced Compact Cameras Are Redefining Photography
Major companies operating in the digital camera market are focusing on developing innovative digital cameras, such as next-generation compact digital cameras, to cater to the evolving needs of photographers. The next-generation compact cameras, exemplified by the Fujifilm X100VI and the Sony α6700, offer cutting-edge features tailored for advanced photography and videography needs. For instance, in February 2024, Fujifilm Holdings Corp., a Japan-based camera manufacturing company, launched the X100VI Digital Camera, a next-generation advanced compact camera. The X100VI Digital Camera incorporates a 5-axis, in-body image stabilization function with up to 6.0 stops, an X-TransTM CMOS 5 HR sensor with approximately 40.2 megapixels, and a fixed 23mm F2.0 lens. The X100VI features an Advanced Hybrid Viewfinder, 6.2K/30P movie recording, and Camera to Cloud integration for Adobe's Frame.io, enabling wireless photo and video uploads. Its design includes aluminum surfaces, an ultra-thin tilt LCD monitor, and an integrated body design for versatile shooting styles.
Digital Camera Market Players
Major companies operating in the digital camera market are Samsung Electronics Co. Ltd., Sony Corporation, LG Electronics Inc., Hewlett-Packard Inc., Panasonic Corporation, Canon Inc., Fujifilm Holdings Corporation, Ricoh Company Ltd., Olympus Corporation, Nikon Corporation, Carl Zeiss AG, Casio Computer Co. Ltd., DJI Technology Co. Ltd., Eastman Kodak Company, GoPro Inc., Polaroid Corporation, Tamron Co. Ltd., Leica Camera AG, Blackmagic Design Pty. Ltd., Sigma Corporation, Phase One A/S, YI Technology Co. Ltd., Hasselblad Group, Vivo Technology Company Limited, Arashi Vision Inc (Insta360)
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the digital camera market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Digital Camera Market Report Structure
3. Digital Camera Market Trends And Strategies
4. Digital Camera Market - Macro Economic Scenario
5. Digital Camera Market Size And Growth
…..
27. Digital Camera Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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