According to our latest market study on “Digital Camera Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and End User,” the market is expected to grow from US$ 8,290.25 million in 2021 to reach US$ 12,119.44 million by 2028; it is expected to grow at a CAGR of 5.6% from 2021 to 2028.
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The global digital camera market is segmented into five major regions— North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. In 2020, APAC led the market with a substantial revenue share, followed by North America and Europe. North America has seen significant technological advances, which have resulted in highly competitive market in the region. A mirrorless camera does not involve a mirror box within its body and is designed with a compact and attractive exterior with an electronic viewfinder paired with interchangeable lens. Such cameras are more convenient to use compared to digital SLR cameras, owing to their smaller and lighter structure.
Mirrorless camera comprises lens at the front body along with sensor placed inside and a screen along with an optional viewfinder placed at the back. Additionally, such cameras have small, short, and light lenses; and these cameras are constructed with a tiny LED or OLED screen, which helps to deliver best possible results altogether. Despite their smaller size, such cameras are designed to provide high quality images with outstanding clarity as that of other conventional digital cameras. The limited presence of glass elements within lenses allows quick autofocus. Further, mirrorless cameras are generally composed of APS-C sensor or a Micro Four Thirds sensor, which offers portability and convenience over DSLRs. With the rising adoption of mirrorless cameras, there is an increase in variety of lenses and their respective configurations. Such cameras have extensive demand from budding photographers to various professional photographers, owing to compact and sleekier mirrorless designs, along with limited noise making.
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Canon Inc., Eastman Kodak Company (JK Imaging Ltd.), Fujifilm Holdings Corporation, Leica Camera Ag, Nikon Corporation, Om Digital Solutions Corporation, Panasonic Corporation, Hasselblad, Ricoh Imaging Company, Ltd, and Sony Corporation are among the key players operating in the global digital camera market.
As per the Camera & Imaging Products Association (CIPA), the sales of compact cameras and DSLR’s went down significantly during pandemic time. The demand for mirrorless camera were still high in comparison to compact cameras and DSLR’s. The organization further reported that, though, the value of units sold were comparatively low, however, the revenue fetched were reasonably high during the pandemic time. As the economies are planning to revive their operations, the demand for digital camera is expected to rise globally. Although the focus over just in time production is another concerning factor hindering market growth. The expanding demand of digital cameras for personal and professional photographers along with significant investment by prominent manufacturers is, expected to drive the growth for digital camera.
Chapter Details of Digital Camera Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Digital Camera Market Landscape
Part 04: Digital Camera Market Sizing
Part 05: Digital Camera Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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