The global digital camera market size was estimated at USD 21.64 billion in 2016 and is expected to grow on account of technological developments such as high-definition (HD) picture quality and automation using a touch screen. Increasing popularity of digital single lens reflex (DSLR) devices owing to its high-level automation is another key factor driving the market over the forecast period. The market for DSLRs camera is expected to grow swiftly owing to the declining prices, digitized features, and growing demand in the global market.
Global digital camera market revenue, by product, 2014 - 2025 (USD Billion)
Advancements in features and increase in the number of events across the globe are the key factors to drive the demand for these cameras over the forecast period. Furthermore, rising consumer trend to capture everyday life moments is analyzed to boost the sales of DSLRs cameras.
The emergence of smartphones with excellent lens quality is expected to hamper the sales of point-and-shoot devices. The evolution of photo apps in smartphones has drastically impacted the sales of digital cameras. In-built photography features such as filters, HDR, portrait capturing, landscape capturing, and brightness control in smartphones is expected to have an adverse effect on the market.
Rising trend of cinematography, tourism, and magazine sales is expected to drive the professional segment. Moreover, growing trend of uploading high definition photographs on social media platforms such as Instagram and Snapchat is expected to boost the sales of digital cameras over the projected period.
Digital cameras have been witnessing an evolution in the manner they function as well as the features they contain. Picture quality improvement and the ability to take videos in the dark are some of the features that are expected to be available in the products that are to be launched over the next few years.
Segmentation by product
• Built-in lens camera
• Interchangeable lens camera
• Single Lens Reflex (SLR)
Built-in lens devices were the most widely used product in 2016 accounting for 52.1% of the revenue share. However, increasing popularity of interchangeable lens devices owing to the high-resolution capacity is expected to drive the market for the interchangeable lens camera. These help photographers to utilize the device in a variety of conditions such as the telephoto lens for wildlife, prime lens for portraits, the macro lens for detailed photography and the fish-eye lens for wide panoramas.
Segmentation by end-user
Professional cameras are used in a broad range of fields including journalism to fashion shoots. These devices are equipped with Wi-Fi and microphones for recording. Furthermore, professional cameras have high-resolution power, automatic functions and they are water resistance. Canon and Nikon are the market leaders in the professional segment.
Segmentation by region
• North America
• Asia Pacific
• Central and South America
• Middle East and Africa
In terms of revenue, Asia Pacific dominated the global market in 2016, and the trend is expected to continue over the projected period due to the increasing consumer base, particularly in India. Low penetration of the product in Thailand and India is expected to provide lucrative growth opportunity over the forecast period.
The industry in Central & South America is expected to gain significant share over the forecast period owing to increased popularity of social networking websites such as Facebook in this region. The Europe regional market is likely to exhibit sluggish growth over the projected period due to increasing acceptance of smartphones in the region.
Sony, Canon, and Nikon dominates the market. Some the Key players identified in the digital camera market are Kotak, Toshiba, Panasonic, Nikon, Fujifilm, Leica, and Go Pro Inc.
Research Support Specialist, USA