Global Digital Camera Market to Reach US$ 11.1 Billion by 2032, Fostered by Integration of New Camera Technologies

May 29, 2023 | Technology & Media

According to the latest report by IMARC Group, titled "Digital Camera Market Report by Product Type (Interchangeable Lens Cameras, Built-in Lens Cameras), and Region 2024-2032," the global digital camera market size reached US$ 7.9 Billion in 2023. A digital camera is a battery-powered electronic device that captures images or videos and stores them in digital format. It consists of sensors, shutters, lenses, button interfaces, triggers, and variable diaphragms to adjust the viewfinder screens, which are used for displaying the media captured. It also offers adjustable ISO settings, white balance controls, exposure compensation, and various shooting modes, such as macro, landscape, and portrait. It allows instant image previewing on a built-in LCD screen, enabling users to review and delete unwanted photos on the spot. Additionally, it eliminates the need for film processing, as images are stored on memory cards or internal storage and can be easily transferred to a computer or other devices for editing, printing, or sharing online. Some commonly available digital cameras, include compact digital cameras, digital rangefinders, built-in lens variants, bridge cameras, digital single-lens reflex cameras (DSLR), electronic viewfinders (EVF), and line-scan systems.

Global Digital Camera Market Trends:

The increasing adoption of digital single-lens reflex (DSLR) cameras is driving the global market. Moreover, the integration of new camera technologies, such as higher megapixel counts, faster autofocus systems, and improved image stabilization, is contributing to the market. Along with this, continuous advancements in sensor technology, image processing, and lens design contribute to improved image quality, enhanced features, and increased performance in digital cameras, thus providing a boost to the market. In line with this, the advent of camera variants equipped with advanced technologies and features, such as anti-shake technology and face recognition, is acting as another growth-inducing factor. Additionally, the integration of emerging technologies, such as artificial intelligence (AI) and machine learning (ML) into digital cameras, is supporting the market as these technologies enable features, including intelligent autofocus, subject tracking, scene recognition, and automated post-processing, thereby enhancing the user experience and simplifying complex photography tasks. The market is further driven by considerable rise of e-commerce platforms as it allows individuals to have easy access to a wide range of camera models, brands, and accessories online. Furthermore, the increasing participation of enthusiasts in adventure sports is creating a positive market outlook. Other factors, including the growing popularity of wedding videography, escalating interest in wildlife photography, and continual advances in filmmaking, are also influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 11.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032. 

Market Summary:

  • On the basis of the product type, the market has been divided into interchangeable lens cameras (digital single lens reflex (SLR) cameras, digital rangefinders, and line-scan camera systems) and built-in lens cameras (integration camera, bridge cameras, and compact digital cameras). Currently, interchangeable lens cameras represented the largest market segment.
  • Region-wise, the market has been categorized into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. Among these, Asia Pacific holds the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Canon Inc., Nikon Corporation, Sony Corporation, Panasonic Corporation, and Olympus Corporation.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Canon Inc., Nikon Corporation, Sony Corporation, Panasonic Corporation and Olympus Corporation
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Global Digital Camera Market to Reach US$ 11.1 Billion by 2032, Fostered by Integration of New Camera Technologies
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