Enjoy complimentary customisation on priority with our Enterprise License!
The Digital Camera Market size is forecast to increase by USD 1.93 billion, at a CAGR of 4.48% between 2023 and 2028.
The digital camera market is experiencing rapid growth driven by technological advancements and shifting consumer preferences. With innovations in sensor technology and connectivity, manufacturers are continuously enhancing features like resolution and autofocus speed, enticing consumers to upgrade their devices. Moreover, the market benefits from a growing interest in photography as a hobby and the demand for professional-grade equipment. This creates a competitive landscape where manufacturers strive to differentiate their products through advanced technology and user-friendly designs. Key factors fueling this growth include the availability of cameras across various price ranges, increased social media usage driving demand for high-quality content, and rising adoption by professional photographer. The market analysis and report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
| Page Number | 174 |
| Forecast period | 2024-2028 |
| Historic period | 2018 - 2022 |
| List of Charts and Table | 138 |
| Growth momentum & CAGR | Accelerate at a CAGR of 4.48 |
| Market Growth 2024-2028 | USD 1.93 billion |
Download a sample to know more market forecast from 2024-2028. Request Free Sample!
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing social media use leading to the production of high-quality content is the key factor driving the market growth. Digital cameras enable users to capture and create visually appealing, high-quality content that stands out on social media platforms, helping to establish a more professional and engaging online presence. Social networking sites are powerful platforms for people to form social connections. The number of active users on social networking sites is growing every day. Users use these social media platforms to connect with family, friends, and people from various cultures, races, and traditions.
Moreover, close to half of the world's population is connected via social networking sites such as Facebook, Twitter, and WhatsApp. The number of people using such social networking sites has increased, as they are mainly connected to these sites through smartphones and other mobile devices. In addition, people use business forums, blogs, photo-sharing sites, microblogs, other mobile applications and chat apps to stay connected.Thus, growth in the use of social networking sites has a major impact on the sales of consumer electronics such as smartphones and digital cameras, which is expected to fuel market growth during the forecast period.
An increase in the use of action cameras is one of the key trends fueling market growth. The popularity of social networking sites, growing adventure tourism, and advances in technologies to generate HD-quality videos have increased the demand for action cameras. The advanced features of action cameras enable photographers to capture high-speed action in stills and videos.
Moreover, aligned with market trends and analysis, the cameras also have a long battery backup and waterproof features and are easy to use in rough conditions. Action cameras assist in monitoring and improving the performance of professional athletes. Thus, the increase in the use of action cameras on a global scale has increased their sales during the forecast period.
The proliferation of smartphones is one of the key factors hindering market growth. Smartphones are popular devices nowadays and provide several high-end features that put them in direct competition with other electronic gadgets such as calculators, digital cameras, and others. The high-quality small cameras in cellphones are internet-connected, making it exceedingly simple for customers to share their images quickly on social media.
For instance, Samsung, worked on a stunning 144MP photo sensor utilizing the 14nm FinFET technology, following up on a 108MP camera sensor. The Galaxy S11, which was launched in February 2020, has a Samsung 108MP camera sensor. The penetration of smartphones has been increasing as smartphones are more convenient than digital cameras. Thus, due to the growing sales of high-end smartphones, the sales of digital cameras are expected to decline during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The digital single-lens reflex cameras segment is estimated to witness significant growth during the forecast period. DSLR cameras use a single-lens reflex method combined with a digital image sensor, which reflects the light passing through the lens using a separate optical viewfinder. They come with large image sensors to generate better quality images and are bigger in size as compared with compact consumer cameras. Features such as automatic mode, manual mode, aperture priority, shutter priority, and on-program mode are very popular among end-users.
The digital single-lens reflex cameras segment was the largest segment and was valued at USD 2.91 billion in 2018. Further, with improving smartphone camera quality and increasing smartphone penetration, most non-professional users are using smartphone cameras. These users prefer not to spend on a standalone digital camera; instead, they prefer buying a smartphone with a better camera. This has led to a decline in the sales of DSLR cameras and the overall digital camera market. This trend is expected to continue and drive the growth of the DSLR camera segment of the market during the forecast period.
APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is emerging as one of the fastest-growing markets for digital cameras due to the growing awareness among customers, along with the growing spending capacity of people in this region. The regional market in focus witnessed high demand from several countries, such as Japan, Indonesia, India, and China. The sales in the market are fueled by the presence of a large population and the growing disposable per capita income. The region also offers inexpensive products with basic features. Thus, such factors will increase the market growth in this region during the forecast period.
The digital camera market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
The market continues to evolve in response to consumer preferences and advancements in technology, shaping the landscape of digital photography. Despite the rise of smartphone cameras, the sale of digital cameras remains resilient, driven by niche customer bases such as professionals, including sports photographers and wedding photographers, who demand better resolution, clarity, and quicker shutters offered by full frame cameras and mirrorless cameras. Major digital camera manufacturers continually innovate, launching new products with feature upgrades to cater to the photography business and photo enthusiasts seeking quality beyond smartphone cameras.
Further, recent advancements in technology have not only improved camera services but also expanded payment methods and digital photography platforms, providing opportunities for market expansion. However, challenges such as loss of income and lack of resources for the average consumer underscore the need for innovations that address diverse consumer needs and sustain demand for digital camera production. Despite these challenges, the global digital camera market remains vibrant, driven by major players committed to delivering new models of cameras with new product launches that redefine the boundaries of digital photography.
The global digital camera shipments are influenced by the rise in the quality of smartphone cameras, which meet the average consumer's needs. However, full frame camera models and high-end lenses cater to a niche customer base, offering an opportunity for professional photographers. Camera accessories such as optical zoom and image stabilization enhance the value of point-and-shoot cameras and compact cameras. Video recording capabilities and low-light performance are key features that appeal to enthusiasts and professionals alike. Despite the competition from smartphones, the demand for high-quality camera sensors remains strong. Online photography courses also drive interest in advanced digital cameras. Consequently, the market for camera accessories and advanced features continues to grow, ensuring the relevance of digital cameras in various segments.
|
Digital Camera Market Scope |
|
|
Report Coverage |
Details |
|
Base year |
2023 |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
3.79 |
|
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
|
Performing market contribution |
APAC at 38% |
|
Key countries |
US, China, Japan, Germany, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks, Digital Camera Market Industry Report |
|
Key companies profiled |
Blackmagic Design Pty. Ltd., Canon Inc., Eastman Kodak Co., Elite Brands Inc., FUJIFILM Corp., GoPro Inc., HP Inc., JMM Lee Properties LLC, KYOCERA Corp., Leica Camera AG, Nikon Corp., OM Digital Solutions Corp., Panasonic Holdings Corp., Polaroid International B.V., Qisda Corp., RED Digital Cinema LLC, Ricoh Co. Ltd., Samsung Electronics Co. Ltd., Sharp Corp., SIGMA Corp., Sony Group Corp., and Victor Hasselblad AB |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period, digital camera market growth analysis |
|
Customization purview |
If our digital camera market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this digital camera market forecast report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
