Photography Equipment Market in the US 2017-2021

Overview of the photography equipment market in the US

According to Technavio’s market research report, the photography equipment market in the US will grow at a steady rate and post a CAGR of more than 3% during the forecast period. The rising demand for camera accessories will drive the growth prospects for the photography equipment market in the US during the estimated period. The market is highly driven by the increasing demand for photography accessories due to the introduction of enhanced features for connectivity, improved ability to control enhancements, and enhanced configuration of products. A large number of consumers highly rely on various accessories such as lens mounts, optical filters, transmitters, GPS receivers, slide projectors, and superzoom lenses to have a high-end user experience. LPG-001 Protective Glass for LCDs, DK-20C 0.0 Neutral Eyepiece, and DK-20C +3.0 Correction Eyepiece are some of the popular DSLR accessories currently available in the market.

The emergence of personalized digital cameras is one of the major trends that will gain traction in the photography equipment market in the US. To cater to the requirements of the customers, manufacturers are increasingly introducing rugged and advanced waterproof cameras in several forms and shapes such as Canon PowerShot D30, Nikon COOLPIX AW130, Panasonic LUMIX TS5 & TS6, Sony Cyber-shot TX30, FUJIFILM FinePix XP80, Olympus TG-4, Olympus Stylus Tough TG-860, and GoPro HERO4. This in turn, will increase the sales of digital camers and consequently drive the growth of the market for photography equipment.

Competitive landscape and key vendors

The photography equipment market in the US is characterized by the presence of various well-established global players and is highly-competitive. The photography equipment manufacturers are increasingly competing against each other based on factors such as product offerings. Several vendors are offering their products to various end-user sectors such as film and television production, journalism, real estate, security and surveillance, retail, healthcare, and food servicing sectors. Furthermore, many vendors are increasingly focusing on research and developmental activities and are also concentrating on the manufacture, sale, and servicing of camera equipment products to expand their geographical reach and enhance their customer base.

Key vendors in this market are -

• Canon
• FUJIFILM
• Nikon
• Panasonic
• Sony

Other prominent vendors in the market include Argus Camera, Bolex International, Bron Elektronik, CASIO COMPUTER, COSINA, IMAX, Eastman Kodak Company, Olympus, Ricoh, Schneider Optics, and Samsung.

Segmentation by retail format and analysis of the photography equipment market in the US

• Specialty stores
• Department stores, hypermarkets, and supermarkets
• Online retail

During 2016, the specialty stores segment dominated the photography equipment market in the US and will continue to dominate the market for the next four years. Since these stores specialize in one product category such as electronics, consumers are able to access a wide assortment of products at various price points. This will drive the popularity of specialty stores and will subsequently fuel the growth of this market segment.

Segmentation by product type and analysis of the photography equipment market in the US

• Cameras
• Other photography equipment

The photography equipment market in the US was dominated by the camera segment during 2016 and its market dominance is expected to continue until the end of 2021. The introduction of innovative and new technology-equipped digital cameras due to the growing demand for high-end digital cameras from various consumers will be a major factor fueling the growth of this market segment. Also, the inclusion of features such as higher megapixel for better resolution and picture quality, advancements in the magnification and focusing quality of the lenses, and the addition of 3D technology on digital cameras, will further boost the growth of this segment in the photography equipment market in the US.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the photography equipment market in the US?
• What are the key market trends impacting the growth of the photography equipment market in the US?
• What are the challenges to market growth?
• Who are the key vendors in the photography equipment market in the US?
• What are the market opportunities and threats faced by the vendors in the photography equipment market in the US?
• What are the trending factors influencing the market shares of the US?
• What are the key outcomes of the five forces analysis of the photography equipment market in the US?

Technavio also offers customization on reports based on specific client requirement.

According to Technavio’s upcoming market research report, the photography equipment market in the US is predicted to be driven by factors like technological advancement, which induces product innovation and swelling replacement demand for point-and-shoot cameras. Some of the most important trends in the market are the growing demand for the mirror-less cameras and personalized digital cameras. Technavio’s reports for the consumer and retail industry encompass a range of product and service markets including cosmetics and toiletry, toys and baby products, and apparel and textile. Additionally, Technavio provides information on numerous factors such as the progression of consumer behavior, the market drivers, and the key challenges that will affect the growth of the vendors in the market. Technavio also offers vast knowledge on the prominent vendors and the competitive analysis in the consumer and retail industry.

Our team of industry research experts at Technavio follow a comprehensive research approach of quantitative and qualitative research techniques and perform an in-depth analysis of many factors such as technological advancements and shift in the demand and supply for a wide range of products and services encircling multiple geographical regions. After gathering information from reliable sources of market intelligence such as manufacturers, channel partners, regulatory bodies, and decision makers, our upcoming industry research report on the photography equipment market in the US for the forecast period 2017-2021 offers insights to help clients design new market entry strategies.

This upcoming market research report on the photography equipment market in the US for the forecast period 2017-2021 considers the growth of the related market such as still images, which is expected to grow at a CAGR of around 8% by 2021. The cameras segment is expected to be the major driver for the growth of photography equipment market in the US. In the cameras market, the digital cameras market has reached a maturity stage and the rapid increase in the smartphone adoption in the US is the major challenge faced by the photography equipment industry in the US. Technavio also offers customized reports that cater to the stipulations of several clients, to help the vendors and players validate their presence in the consumer and retail sector.

The upcoming industry research report on the photography equipment market in the US also identifies the key drivers, emerging trends, and the challenges tackled by the industry and also offers vital insights into consumer services and personal care and retail systems.