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The digital camera market size is estimated to grow at a CAGR of 5.55% between 2022 and 2027. The market size is forecast to increase by USD 3,159.05 million. The growth of the market depends on several factors, including the availability of various price ranges, the growing social media use, and the choice of professional photographers.
This digital camera market report extensively covers market segmentation by distribution channel (offline and online), type (digital single-lens reflex cameras, compact digital cameras, mirrorless interchangeable lens cameras, and bridge compact digital cameras), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The availability in various price ranges is notably driving the market growth, although factors such as the proliferation of smartphones are hindering the digital camera market growth. Our researchers analyzed the data with 2022 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.
The availability of cameras in various price ranges is one of the key drivers supporting the digital camera market growth. Digital cameras are available in different price ranges depending on their features. For instance, more than 15% of digital cameras are priced under USD 50. These cameras provide basic digital camera features such as digital video resolutions of 1280 x 720 HD, waterproof capabilities, and others.
Around 20% of digital cameras are found in the price range of USD 50-USD 200. More than 60% of the digital cameras are high-end digital cameras, which provide features such as +200x zoom capabilities, video recording with autofocus, and others and are priced above USD 200. These varied price ranges allow consumers to choose digital cameras with the desired features as per their budget. This, in turn, will drive the digital camera market growth during the forecast period.
An increase in the use of action cameras is one of the key digital camera market 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.
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 globally during the forecast period.
The proliferation of smartphones is one of the factors hindering the digital camera 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 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 growth strategies.
Global Digital Camera Market Customer Landscape
Vendors 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.
Canon Inc.: The company offers digital cameras such as Canon EOS 1500D, Canon EOS 200D, Canon EOS R10.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. Offline media channels are not connected to the Internet. They use offline distribution strategies, including brick-and-mortar stores, TV, radio, print advertisements, and banners, to create awareness about products and services and to promote brands.
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The offline segment was valued at USD 8,080.35 million in 2017 and continued to grow until 2021. Offline marketing tends to be more expensive compared with online marketing because it requires vendors to implement promotional campaigns. However, as a large share of the market is still held by the unorganized sector of the market, which does not have Internet access, offline distribution is the only way to reach customers. National and international campaigns and the availability of mom-and-pop stores have increased the credibility of the offline distribution channel. Such factors wil increase segment growth during the forecast period.
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APAC is estimated to contribute 32% 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 region accounted for one of the highest market share in the market in focus in 2022. 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. Such factors will increase the market growth in this region during the forecast period.
The COVID-19 outbreak caused a significant economic loss in the region in 2021. However, with the lifting of the lockdown and the reopening of distribution networks of digital cameras, the regional market in focus has grown in 2021 and 2022. Nevertheless, the market in focus in APAC started witnessing significant growth after 2021, as social distancing measures implemented by the local governments led to a shift of most business activities to the online medium. This enabled end-users to purchase digital cameras through online channels in the region. Additionally, business activities in the entertainment, sports, and media industries have also resumed, which is expected to drive the demand for digital cameras for various applications during the forecast period. These factors are expected to significantly drive the growth of the digital camera market in APAC during the forecast period.
The digital camera market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global digital camera market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Digital Camera Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.55% |
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Market growth 2023-2027 |
USD 3,159.05 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.67 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 32% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Canon Inc., 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., Ricoh Co. Ltd., Samsung Electronics Co. Ltd., Sharp Corp., SIGMA Corp., Sony Group Corp., Victor Hasselblad AB, and Eastman Kodak Co. |
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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, Market condition analysis for forecast period. |
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Customization purview |
If our 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 market research 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 Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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