According to the new market research report by IMARC Group, The global digital camera market size reached US$ 7.5 Billion in 2022. Looking forward, the market expected to reach US$ 9.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.27% during 2023-2028.
What is Digital camera?
Digital cameras are multimedia devices that are widely used for capturing and storing videos and photographs in a digital format. They comprise electronic image sensors, lens, variable diaphragm, viewfinder, aperture and the shutter. They also consist of live preview screens that display the captured files instantly, unlike film cameras. These cameras are also equipped with in-built memory card slots that enable users to extend the storage capacity of these devices as per their requirements. Aside from supporting essential image editing functions, they offer multiple specialized features that include digital zoom, auto-focus, burst shots, altering sensor sensitivity (ISO), panorama assist, best-shot selector, shutter speed and automatic white balance (AWB).
COVID-19 Impact Analysis
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Key Industry Trends of the Global Digital Camera Market:
The global market is majorly driven by the increasing preference for digital single-lens reflex (DSLR) cameras for travel and fashion and lifestyle photography. Supported by the growing influence of social media platforms across the globe, this is providing a boost to the sales of digital cameras. Moreover, the increasing participation of individuals in adventure sports activities and the growing popularity of vlogging have contributed to an increased uptake of action cameras in the recent past. These cameras are characterized by high durability and lightweight nature that allows them to be worn on the body or mounted on helmets or car dashboard camera while participating in extreme sports.
On the flip side, the increasing penetration of premium and affordable smartphones with high-resolution cameras is negatively impacting the market growth. Numerous smartphones are now being equipped with 3D cameras that can sense movements while taking pictures and yield images in the RAW format. Besides this, continuous technological innovations in smartphone cameras and the prominent presence of affordable camera rental services across the globe are also contributing to the declining sales of digital cameras.
- On the basis of the product type, the market has been bifurcated into interchangeable lens cameras (digital single lens reflex (SLR) cameras, digital rangefinders and line-scan camera systems) and built-in lens cameras (integration, bridge and compact digital cameras). Among these, interchangeable lens cameras represent the most popular product type, accounting for the majority of the total digital camera market share.
- On the geographical front, the market has been divided into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. At present, Asia Pacific holds the leading position in the market.
- On evaluating the import and export scenario of the market, it is found that the United States is the major importer, while China is the biggest exporter of digital cameras.
The report provides a comprehensive analysis of the industry key players listed below:
- Canon Inc.,
- Nikon Corporation,
- Sony Corporation,
- Panasonic Corporation
- Olympus Corporation.
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