Digital Camera Market Research Report- Forecast 2027

Digital Camera Market, By Product Type (DSLR, Bridge Camera, Compact Digital Camera, Digital Range Finders, Built-In Lens, Non-Reflex), By Digital Sensor Types(CCD sensor, CMOS sensor, FOVEON X3 sensor, LiveMOS sensor), By Components(Lenses, Sensors ,LCD Screen, Memory Card, others) - Forecast 2027

ID: MRFR/SEM/1701-HCR | February 2023 | Region: Global | 100 Pages         

Digital Camera Market Speak to Analyst Request a Free Sample

Digital Camera Market Size and Overview

Globally, the size of Digital Camera Market is to reach USD 5.1 billion, with approximately 7.1 % CAGR during the forecast period 2016 to 2022 driven by the demand for lightweight cameras that can take high-resolution pictures quickly increasing.

Digital cameras are made to capture a digital image of the surroundings and other objects in digital form. It uses a memory chip that records images in digital format and stores them so that people can see them on different mediums. The camera comprises many components like a viewfinder, lens, LCD screen, body shell, etc. the camera market will grow as it provides high-quality images and videos. Also, one can store it in computer form. Several factors that drive the market's demand are high-quality images and lightweight.

The rising application of digital cameras in entertainment, sports, media, and adventures propels market growth. The high cost of the camera and considerable time required to transfer the images from one place to another due to the size of the photos are the main restraints of the market. However, technological advancement will create lucrative growth opportunities for the market. The availability of new and innovative smartphones with the most advanced features is a challenge for the market profit.

COVID-19 Analysis

COVID-19 is to the 21st century what the Bubonic Plague was to the 5th century and the Black Death was to the 14th century - a pandemic that changed the destiny of the world. COVID-19 is a dangerous virus. Many people and all governments around the world realized this early on because of all of the deaths that the virus caused. It also left those people who recovered either vulnerable to contracting it again after a few months. People who recovered also developed serious long-term health problems like shortness of breath and diabetes.

Governments wanted to stop the spread of this virus by imposing lockdowns and quarantines. This forced many businesses in many industries to either drastically scale back production or temporarily halt production. The digital camera market would have been severely adversely affected were it not for the ingenuity of its manufacturers. They went online and started to offer free tutorials on how to use these cameras on various social media platforms. This was very successful since many people wanted to busy themselves during quarantine.

That notwithstanding, the digital camera market did suffer since more people were staying indoors and didn’t need to take as many pictures with their digital cameras. Production of these cameras dropped dramatically since demand dropped dramatically.

Market Dynamics

Market Key Drivers

Now that a vaccine for COVID-19 is readily available people are starting to venture outside, more often than not without masks. They are itching to take pictures in the same ways that they did in the pre-pandemic era. Hence, the demand for lightweight cameras that can take high-resolution pictures quickly is increasing. This is largely what’s driving growth in the digital camera industry.

Market Key Opportunities

Greater technological advancements the technologies needed to make digital cameras better and more effective is encouraging more manufacturers to produce superior cameras with more innovative uses.

Market Key Restraints

Digital cameras are very expensive in relation to the latest smartphones. They also don’t have all of the abilities that smartphones do. This, combined with the fact that it can’t transfer data as fast as smartphones can is holding back growth of digital camera market.

Market Challenges

Smartphones are very popular and less expensive than most digital cameras are. People are increasingly preferring to buy the latest version of smartphones because they can take better pictures than digital cameras can. They are also easier to transport and have more options than digital cameras do. This is one obstacle that digital camera manufacturers are going to have to overcome if they want to continue to see strong year-on-year growth.

Cumulative Growth Analysis

The overall CAGR for the digital camera market is projected to be 7.1% until 2022. The digital camera market in general is projected to be worth USD 5 billion by then. That said, certain segments are expected to register much higher growth rates. For example, the DSLR segment is expected to have a CAGR of 20% by 2022. It’s also expected to be worth USD 3 billion by then. China is expected to have a CAGR of 24.3%. Other market trends are expected to have a CAGR of 13.7% and 16.9%.

Technology Analysis

Eastman Kodak is a major player in the digital camera market. It has managed to become an industry leader and survive in the camera market for more than a century by constantly investing in research and development. This has allowed it to create a sustainable competitive advantage by allowing it to come up with and market newer generations of more effective digital cameras with far more innovative applications.

Market Segmentation Overview

By Type Outlook

The digital camera market can be grouped into the following sub-segments based on type:

  • Product Type

  • Digital sensor type

  • Application components

  • Geography

The product type sub-segment of digital camera market is further grouped into DSLR, bridge cameras, compact digital cameras, digital rangefinders, built-in lens, non-reflex.

The digital sensor type sub-segment of digital camera market is further grouped into CCD sensors, CMOS sensors, LiveMos sensors.

The components sub-segment of digital camera market is further grouped into lenses, sensors, LCD screens, memory cards, etc.

The application sub-segment of digital camera market is further grouped into commercial and residential.

By Technology Outlook

Technologies that digital cameras used have advanced dramatically in the first fifth of the 21st century. Vendors are now creating newer and improved digital cameras with automatic payment gateways.

Regional Insights

The North American region may have the largest digital camera market share but the Asia-Pacific region has the largest digital camera market growth rate. The nations of India, China, and Japan have large populations where the middle classes are growing at breakneck rates. This is creating a lot of demand for people who want to go on vacations and want to have the opportunity to take pictures with advanced digital devices while doing so.

The demand for DSLR cameras is growing rapidly in the Asia-Pacific region. This is a major driver of growth for digital camera market in most Asian nations.

The United States is the world’s largest importer of a digital video cameras. This is due to the fact that there is a large middle class with the world’s largest purchasing power. Interestingly enough, China exports the largest number of digital cameras every year.

Competitive landscape

The digital camera market is highly competitive. What makes it that way is the fact that the digital camera industry is very lucrative and the fact that there are few barriers to entry in the market. These two factors are encouraging many companies to enter the market every year. A great number of these companies are large ones.

Companies are finding that they can stay competitive only if they invest heavily in research and development. They tend to expand their future horizons when they do so because they are able to develop and market a new generation of more effective and superior digital cameras. These new generations of digital cameras also have more innovative and diverse uses than their predecessors did. In any case, companies that invest heavily in research and development find that they have an easier time strengthening their position in existing markets and they have an easier time entering new markets. They also find that they last for longer in newer markets.

Another way that companies can survive in a very competitive market is by merging with and acquiring other successful companies. They can access the other company’s customers. This alone will greatly increase their revenue generation potential. They can also invest much more in research and development because they tend to have the greater financial resources and manpower to do so. These companies can then develop and market a new generation of much more effective digital cameras that can help them gain many more new customers in new markets and in existing ones. The resulting companies can also strengthen their positions in existing markets.

Companies can also enter into strategic partnerships with other successful companies. They tend to realize the same benefits that companies that merge with/acquire other companies that are successful do!

Eastman Kodak is a very successful American company in the digital camera market. It has managed to become an industry leader by creating a sustainable competitive advantage through intensive investments in research and development. This allowed it to develop and market a new range of successful digital cameras that allowed it to enter new markets and cement its strong positions in existing markets.

Key Players and Market Share Insights

  • Eastman Kodak Company (U. S.)

  • Koninklijke Philips NV (Netherlands)

  • Pentax Corporation (Japan)

  • Samsung Group (South Korea)

  • Panasonic Corporation (Japan)

  • Olympus Corporation (Japan)

  • Fujifilm Holdings Corporation (Japan)

  • Sony Corporation (Japan)

  • Nikon Corporation (Japan)

  • Canon Inc. (Japan)

Industry Developments

April 2022

The Leica Gallery London has announced the first UK exhibition of the work by the 41st Leica Oskar Barnard Award (LOBA) winner, Ana Maria Arevalo Gosen, with a showing of her Dias Eternos (Eternal Days) project. The photos depict the condition of the Latin American penal system.

Pixar created a virtual IMAX camera and lenses to shoot the Lightyear movie.

The EU edges closer to banning the Lightning connector favoring USB-C as the exclusive charging format in EU countries.

Atomos has introduced two new network-connected on-camera monitor devices that make it easier for digital film and video productions of all sizes to capture, transcode, upload, and collaborate with anyone, anywhere in the world.

Report Overview

The CAGR for the digital camera market share is 7.1%. The digital camera market size is expected to be worth USD 5 billion by 2022. The North American region has the largest market share but the Asia-Pacific region has the greatest CAGR.

Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

Extreme growth in the fashion and entertainment sector, improved SLR camera sales, and digitalization are the marketing dynamics that fuel up the digital camera market in this forecast period. Penetration of the internet and rise in social media platforms is expected to contribute to the growth.

The digital camera is expected to capitalize to satisfy the need for a high definition camera on the digital camera market share. It has a great impact on the digital camera market growth. It contributes to 7% in the forecast period. The hike in the sale of SLR digital cameras generates USD 5 billion by 2022.

Some prominent developers are Eastman Kodak Company(U.S.), Pentax corporation(Japan), Koninklijke Philips N.V.(Netherlands), and Samsung Group(South Korea), Nikon, Canon, Hasselblad, etc. Canon has dominated the market in 2020 and had a digital market share of 45%. Sony and Nikon followed the ranking with a market value of 19% and 20%.

Resolution and compression, auto program/mode, scene mode, aperture mode, shutter priority, manual exposure mode, ISO, exposure compensation, the good sound quality of stereo and mono quality, has digital zooming feature which has image editing application.

The high volume of smartphones and the decline of innovation hinder its expansion. There are the majority of industry participants who do not desire to participate in discovering its features.