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It is a very dynamic market for digital cameras, which has recently undergone major changes. This dynamism is driven largely by remarkable developments in technology, such as image sensors and processors, and optics. In reaction to a growing market demand for high quality imaging in smaller and more friendly devices, manufacturers are utilizing the very best features of digital cameras on their latest products so they can remain competitive.
The market forces driving the digital camera industry are greatly shaped by consumer tastes and whims. Traditional digital single-lens reflex (DSLR) cameras, with their superior image quality and interchangeable lens system favored by professional photographers, received strong emphasis in the past. But now mirrorless cameras have disturbed this geography. More compact and lightweight than DSLR cameras, mirrorless cameras offer the same image quality as digital SLRs. This has made them more attractive to a broader range of consumers (both enthusiasts and amateur photographers).
In addition, the change to mirrorless technology has caused fierce competition among camera manufacturers. New rivals and old are fighting every which way for a piece of the market with such innovations as in-body image stabilizers, advanced autofocus systems or 4K video capabilities. This sort of competitive environment not only contributes to technical innovation, it also brings down consumer prices, with companies seeking value for money in order remain ahead of the pack.
Another important aspect of market dynamics is the effect that smartphone cameras are having on digital camera sales. The growing functionality of smartphone cameras, in concert with the convenience afforded by an all-in-one device has caused the market for entry level point-and shoot digital cameras to shrink. Yet this is also a challenge that has led digital camera makers to innovate and differentiate their products. A number of companies have instead taken the route of emphasizing high-end digital cameras with superior performance and features that exceed what smartphones can offer, in order to serve a small group of photography enthusiasts.
Ecosystems and connectivity are also key in the digital camera market. In response to consumers 'demand for seamless connection with other devices and platforms, manufacturers are integrating connectivity into their products. From built-in Wi-Fi and Bluetooth,. Now, with the emergence of social media platforms as dominant image-sharing tools, connectivity is more important than ever in a digital camera.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Product Type, Lens Type, Sensing Technology and Application. |
Digital Camera Market Highlights:
Global Digital Camera Market Overview:
Digital Camera Market Size was valued at USD 7.2 billion in 2021. The Digital Camera market industry is projected to grow from USD 7.6 billion in 2022 to USD 11.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.3% during the forecast period (2022 - 2030) driven by the demand for lightweight cameras that can take high-resolution pictures quickly increasing.
FIGURE 1: Digital Camera Market 2018-2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
Digital Camera Market Trends
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Increasing Use Of Digital Cameras In Sports Media
The rising usage of digital cameras in sports media is the key driver of the market. The stadium's high-speed and digital camera system allows viewers to witness slow-motion repeats in critical game conditions and improves accuracy while viewing. Similarly, high-resolution digital cameras aid in the capture of clean and crisp photographs and movies in animal, landscape, architecture, and studio photography. The emphasis on action photography has raised demand for small digital cameras such as GoPro. Furthermore, social media platforms such as Instagram have significantly enlarged the scope for photography, which is likely to drive the growth of the Digital Camera Market.
Digital Camera Market Segment Insights:
Digital Camera Product Type Insights
The market is divided into two categories based on product type: single reflex and non-reflex. Due to its cost-effectiveness over other types, a single reflex sector is likely to hold a significant portion of the market. Furthermore, such a digital camera allows users to efficiently install distinct controls for various camera functions such as exposure compensation, white balance, ISO, and so on. This will almost certainly fuel future segmental expansion.
Digital Camera Lens Type Insights
The market is divided into two types of lenses: fixed lenses and interchangeable lenses. As a lens in such a camera can be swapped for another lens, the interchangeable lens sector is likely to hold the highest proportion of the global market. Furthermore, compared to other types, interchangeable-lens digital cameras provide customers a broader range of image taking possibilities. This will most likely fuel segmental growth.
September 2022: Canon U.S.A., Inc., a major producer of digital imaging solutions, announced the addition of a suite of products to its cinema and broadcast capabilities in response to consumer demand. Canon's latest 8K CINE-SERVO lens for a wide range of productions is the CINE-SERVO 15-120mm T2.95-3.95 EF/PL (CN8x15 IAS S); the EU-V3, a modular expansion unit for the EOS C500 Mark II and EOS C300 Mark III cameras; a Cinema EOS firmware update; and the DP-V2730i, a 27-inch 4K professional reference display that may seamlessly fit into workflows of broadcasters and filmmakers.
FIGURE 2: Digital Camera Market SHARE BY LENS TYPE 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital Camera Sensing Technology Insights
The global market is divided into two segments based on sensing technology: CCD and CMOS. Because CMOS lens-based cameras offer quicker processing speed and sensitivity than CCD cameras, the CMOS sector is expected to have a considerable market share. Furthermore, regular technological advancements in the design of CMOS lens-based digital cameras are expected to entice people to purchase such devices. As a result, the CMOS segment generates more money.
Digital Camera Application Insights
The global market is divided into two applications: personal and professional. Because of the high demand for superior digital cameras among film producers, the professional segment is likely to dominate the market. Furthermore, higher pricing for professional application purpose digital cameras results in increased revenue from this category.
Digital Camera Regional Insights
Digital image cameras are frequently employed in the development of various medical devices such as microscopes and ophthalmological equipment. The health of patients may be easily tracked in hospitals using a computer program linked to the digital cameras embedded inside these devices. As a result, the utility of such medical gadgets grows. As a result, the European region's fastest growth is attributable to rising production values of various types of medical equipment in countries such as Germany, France, and Italy, which supports the region's consumption rate of digital cameras.
The Asia Pacific area has the highest share due to the large shipment volume of digital cameras in countries such as China and India, which supports revenue creation from such items in the region. According to the Camera & Imaging Products Association, the shipment volume of built-in digital cameras in China reached 3,87,800 units in 2018. Furthermore, strong government support for the development of film production hubs in India, Singapore, China, and other countries is likely to promote the region's demand for smart cameras for film applications. For example, Singapore's Infocomm Media Development Authority (IMDA) funded USD 14.7 million in December 2019 to develop film and television content across South East Asia.
FIGURE 3: Digital Camera Market SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital Camera Key Market Players & Competitive Insights
The digital camera industry is extremely consolidated, with Japanese firms generally dominating. Nikon, Canon, Samsung, Fujifilm, Sony, and more major brands are represented. Consumer feedback is increasingly important in product development, with industry participants focused on giving consumers with the most features and benefits in a single gadget. This has resulted in increased R&D investments throughout the market. Brand reinforcement is another key competitive strategy employed through a glut of marketing and promotional activities.
The key players in the market have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
Key Companies in the Digital Camera market include
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Panasonic Corporation
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Canon Inc.
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Sony Corporation
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Nikon Corporation
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Olympus Corporation
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Fujifilm Holdings Corporation
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Pentax
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Leica Camera AG
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Samsung Electronics
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Red.com, LLC
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Casio Computer Co., Ltd.
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GoPro
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SJCam
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TAMRON Co. Ltd.
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The Ricoh Company Ltd.
Digital Camera Industry Developments
Panasonic Corporation:
- August 2023, Launched the Lumix GH6, a high-end micro four thirds (MFT) camera with advanced video features and 5.7K recording.
- October 2023, Joined the L-mount Alliance with Leica and Sigma, expanding lens compatibility for its full-frame cameras.
- January 2024, Announced the Lumix S5 II, a full-frame camera with improved autofocus and image stabilization.
Canon Inc.:
- September 2023, Released the EOS R7, a high-resolution APS-C mirrorless camera aimed at enthusiasts and professionals.
- November 2023, Updated the EOS R5 and R6 with new firmware, including AI-powered autofocus improvements.
- February 2024, Announced the development of a new full-frame mirrorless camera with an innovative sensor technology.
Digital Camera Market Segmentation:
Digital Camera Product Type Outlook
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Single Reflex
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Non-Reflex
Digital Camera Lens Type Outlook
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Fixed Lens
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Interchangeable Lens
Digital Camera Sensing Technology Outlook
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CCD
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CMOS
Digital Camera Application Outlook
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Personal
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Professional
Digital Camera Regional Outlook
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North America
- US
- Canada
- Mexico
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Europe
- Germany
- France
- UK
- Rest of Europe
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Asia-Pacific- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East & Africa
- South America
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