According to the latest report by IMARC Group, titled "Digital Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global digital camera market size reached US$ 14.7 Billion in 2019. Digital cameras refer to multimedia devices that utilize electronic image sensors to capture and store videos and photographs in the digital format. They consist of preview screens that instantly display the captured files. They also comprise lens and variable diaphragm that assist in adjusting the electronic image sensor lighting and viewfinder screen, along with the shutter and aperture. These cameras also offer in-built memory card slots that enable users to extend the device’s storage capacity. Burst shots, shutter speed, panorama assist, best-shot selector, altering sensor sensitivity (ISO), automatic white balance (AWB) and digital zoom are some of the advanced and specialized features supported by these devices.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Digital Camera Market:
The global market is primarily being driven by the increasing adoption of digital single-lens reflex (DSLR) cameras for fashion, travel and lifestyle photography. This can be accredited to the growing influence of social media platforms across the globe. There has also been a significant increase in the uptake of action cameras over the past few years. These durable and lightweight cameras are relatively convenient to use as they can be worn on the body or can be mounted on car dashboards or helmets while participating in adventure sports. The rising participation rates of individuals in adventure sports activities, along with the inflating disposable incomes of the masses is, therefore, providing a thrust to the market growth. However, the easy availability of premium and affordable smartphones with high-resolution cameras is impeding the market growth significantly. This, coupled with the continuous technological innovations in smartphone cameras, is negatively impacting the demand for digital cameras. Some of the other factors obstructing the market growth include the high costs of digital cameras and the prominent presence of affordable camera rental services. On account of the aforementioned factors, the market is projected to decline during the next five years.
- On the basis of the product type, the market has been bifurcated into interchangeable lens cameras (digital single lens reflex (SLR) cameras, digital rangefinders and line-scan camera systems) and built-in lens cameras (integration, bridge and compact digital cameras). Among these, interchangeable lens cameras represent the most popular product type, accounting for the majority of the total market share.
- On the geographical front, the market has been divided into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. At present, Asia Pacific holds the leading position in the market.
- On evaluating the import and export scenario of the market, it is found that the United States is the major importer, while China is the biggest exporter of digital cameras.
- The competitive landscape of the market has been analyzed in the report with the detailed profiles of the major players. Some of these players include Canon Inc., Nikon Corporation, Sony Corporation, Panasonic Corporation and Olympus Corporation.
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