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The global instant cameras and accessories market share was valued at USD 1,161.71 million in 2020 and showed positive growth during the forecast period. This instant cameras and accessories market report extensively covers market segmentation by distribution channel (online and offline), type (camera and accessories), and geography (North America, APAC, Europe, South America, Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The global instant cameras and accessories market size is estimated to grow at a CAGR of 3.79% between 2023 and 2027. The market size is forecast to increase by USD 260.96 million.
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The growing innovation in instant cameras and accessories is one of the major instant cameras and accessories market trends shaping the market growth. The global instant cameras and accessories market has been witnessing various innovations. Some vendors have been focusing on product premiumization. For instance, new Instant Print Cameras for Kids are being offered on online platforms. Also, better lenses, battery backup of up to 1000mAh, HD video recording, and more paper rolls are being offered in a single instant camera.
Furthermore, instant cameras are added with features such as selfie mode, auto timer, built-in flash, and various picture modes. There has been a rise in demand for instant-print photography among consumers, owing to its convenience. Such factors are likely to improve the demand for instant photography product portfolios of vendors, which is likely to drive the growth of the market in focus during the forecast period.
Growing social media use for the promotion of instant cameras is a key driver boosting the market growth. Social networking sites are powerful platforms that are used by people to build social relations. The number of active users on social networking sites is increasing daily. Users are joining these social sites to stay connected with family, friends, and people of different cultures, races, and traditions. Vendors in the market in focus are leveraging social media to promote their products, like instant cameras, through campaigns.
For instance, in January 2023, Fujifilm launched a new campaign, "Keep It Alive", to encourage young audience to keep their love for physical photos. Such initiatives positively impact the demand for instant cameras and accessories, which is expected to fuel the growth of the market in focus during the forecast period.
Low adoption of instant cameras in developing nations is a key challenge hindering the market growth. Emerging markets, especially in MEA and South America, are witnessing lower adoption rates of instant cameras as compared with markets in developed economies owing to the availability of substitutes. Only professionals and photography enthusiasts are the major end-users in this region.
The emerging markets are more inclined toward smartphones. The lack of awareness about the features of instant cameras, limited promotional activities, and lack of sponsorships for organizing adventure events are the factors that will impede the growth of the instant cameras and accessories market in developing during the forecast period.
The market share growth by the online segment will be significant during the forecast period. Due to the advent of e-commerce, there has been a positive impact on the market in focus over the years through online distribution channels. Online sales have significantly influenced, which is expected to drive the global instant cameras and accessories market during the forecast period.
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The online segment was valued at USD 578.46 million in 2017 and continued to grow until 2021. The key factor influencing the online market is the easy availability of tracking data on customer preferences. Due to the availability of the huge amount of data available online, vendors are exploring consumer preferences in instant cameras and accessories. For instance, vendors are taking appropriate steps to increase sales and are trying to tap into the local market of instant cameras and accessories. Additionally, customers are more confident about buying these cameras online due to the convenient return policies. Thus, the above factors are expected to significantly drive the online segment growth during the forecast period.
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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.
The United States is the primary revenue contributor to the North American market under consideration. However, saturation is expected in this regional market during the forecast period due to the early adoption of instant cameras and accessories. Consequently, there is a projected decrease in its revenue share. The pervasive use of smartphones also presents a challenge to the instant cameras and accessories market, with the U.S. having the highest smartphone penetration rate in 2020. The region's affinity for high-quality products, buoyed by a penchant for travel and robust economic status, fosters market growth. Nevertheless, competition from smartphones, action cameras, and rising raw material costs will likely hinder market expansion, resulting in a decreased growth rate.
In 2020, the North American market faced COVID-19 challenges, particularly in the US. Lockdowns and reduced demand hit non-essential products, including instant cameras and accessories. Vendors shifted to online sales in response. In 2021, US manufacturers adapted to online and email marketing, maintaining brand loyalty. Offline stores' closure opened opportunities for platforms like Amazon and Walmart, leading to a 32%-44% e-commerce increase in 2021. As COVID-19 cases decreased, the market gradually recovered, and supply chains were reconfigured. The trend of gift-giving is expected to fuel the regional instant camera and accessory market in the future.
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.
Canon Inc. The company offers instant cameras and accessories such as Zoemini 2 and Zoemini S2.
Technavio has detailed analyses of the competitive landscape of the market and information about 15 market vendors, 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 instant cameras and accessories 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.
Instant Cameras And Accessories Market Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Decelerate at a CAGR of 3.79% |
Market growth 2023-2027 |
USD 260.96 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
4.34 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, Japan, China, South Korea, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Canon Inc., Eastman Kodak Co., Elite Brands Inc., FUJIFILM Corp., HassyPB, HP Inc., Instant Box Camera, Leica Camera AG, Lomographische GmbH, MiNT Camera, Olympus Corp., Polaroid International B.V., and RCP Handels GmbH and Co. KG |
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 |
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
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