Digital Camera Market Share, Size, Segmentation | 2028

Digital Camera Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Compact Digital Camera, Bridge Camera, DSLR Camera, Mirrorless Camera, Digital Rangefinder Camera, and Line-Scan Camera) and End User (Personal and Professional)

  • Report Code : TIPTE100000782
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 155
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The digital camera market is expected to grow from US$ 8,290.25 million in 2021 to US$ 12,119.44 million by 2028; it is estimated to grow at a CAGR of 5.6% during 2021–2028.

The use of digital cameras has not just been limited to personal and professional photography, but has been extended across entertainment, media, and sports industries. The film industry is one of the largest and most lucrative categories in the global entertainment industry. For instance, China's film industry is one of the world's largest film industries, churning out revenue of about US$ 6.6 billion in 2016. This promising outlook of the film and entertainment industry is expected to drive the demand for digital cameras to achieve perfect shots and videos. Rapid technological changes, consumer behavior, and business models have changed the way consumers want to experience and pay for entertainment and the media. The leaders in this industry are concentrating on building fan-focused businesses and brands to produce outstanding content. As a result, they invest a significant amount on technologies and equipment such as computer-generated image (CGI) and visual effects (VFX), as well as advanced cameras.

Also, there is indispensable use of digital cameras in sports media. The installation of high speed and digital cameras at stadium offers spectators to see slow motion replays at critical game situations and helps obtain accuracy while watching. Similarly, the use of high-resolution digital cameras in wildlife, landscape, architecture, and studio photography helps obtain sharp and crisp images and videos. The rising focus toward action photography has subsequently promoted the demand for compact digital cameras, such as GoPro. Further, social media platforms, such as Instagram, have substantially expanded the scope for photography, which, in turn is expected to proliferate the growth of the digital camera market

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Digital Camera Market: Strategic Insights

Digital Camera Market

  • CAGR (2021 - 2028)
    5.6%
  • Market Size 2021
    US$ 8.29 Billion
  • Market Size 2028
    US$ 12.12 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Canon Inc.
  • Eastman Kodak Company (JK Imaging Ltd.)
  • Fujifilm Holdings Corporation
  • Leica Camera Ag
  • Nikon Corporation
  • Om Digital Solutions Corporation
  • Panasonic Corporation
  • Hasselblad
  • Ricoh Imaging Company, Ltd

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Type
  • Compact Digital Camera
  • Bridge Camera
  • DSLR Camera
  • Mirrorless Camera
  • Digital Rangefinder Camera
  • Line-Scan Camera
End User
  • Personal and Professional
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on Europe Digital Camera Market :

The coronavirus pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The consumer electronics industry is one of the major industries suffering serious disruptions such as supply chain breaks, shutdowns of production plants, etc., because of this pandemic. The shutdown of various manufacturing plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East, and Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the consumer electronics industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months. The market for digital camera is impacted by the pandemic due to shortfall in production along with limited transportation facilities.

Digital Camera Market Insights

Technological Innovations Associated with Digital Cameras to Fuel Growth of Digital Camera Market

The framework of digital camera market is closely associated with emerging radical trends backed with innovative technological developments and robust advancements, such as HD and touch screen. Since a long time, the market has observed a higher demand for digital single-lens reflex camera and SLR camera market owing to growing consumer inclination toward advanced photography. However, the advancement of technology has resulted in creation of high-resolution cameras, which provides 12–20 megapixels. The continuous evolution in the field of digital cameras has resulted in designing advanced cameras with better resolution, faster focusing, and support to different peripherals. Also, an increase in trend to incorporate a Wi-Fi or 4G modem in digital cameras have also been observed to provide competitive edge over smartphones. Moreover, such cameras are foreseen to be a part of several interconnected devices, such as IoT (Internet-of-Things), which could facilitate effective communication with other interconnected devices such as smartphones and speaker assistants in the near future.

Type-Based Market Insights

Based on type, the digital camera market is categorized into compact digital camera, bridge camera, DSLR camera, mirrorless camera, digital rangefinder camera, and line-scan camera. In 2020, the DSLR camera segment accounted for the largest share in the market.

Digital Camera Market Report Scope

Report Attribute Details
Market size in 2021 US$ 8.29 Billion
Market Size by 2028 US$ 12.12 Billion
Global CAGR (2021 - 2028) 5.6%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Type
  • Compact Digital Camera
  • Bridge Camera
  • DSLR Camera
  • Mirrorless Camera
  • Digital Rangefinder Camera
  • Line-Scan Camera
By End User
  • Personal and Professional
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Canon Inc.
  • Eastman Kodak Company (JK Imaging Ltd.)
  • Fujifilm Holdings Corporation
  • Leica Camera Ag
  • Nikon Corporation
  • Om Digital Solutions Corporation
  • Panasonic Corporation
  • Hasselblad
  • Ricoh Imaging Company, Ltd
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    End User-Based Market Insights

    Based on application, the digital camera market is segmented into personal and professional. In 2020, the professional segment accounted for a larger market share.

    The players operating in the digital market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

    • FUJIFILM Holdings Corporation announced about the launch of FUJIFILM GFX100S in late February 2021. The camera is the latest addition to the GFX Series of mirrorless digital cameras.
    • Nikon Corporation had launched the Z 7II full-frame mirrorless camera. The Z 7II is a full-frame, high-resolution mirrorless camera. Through such product launches, the company is contributing to the development of imaging culture.

    The digital camera market has been segmented as follows:

    By Type

    • Compact Digital Camera
    • Bridge Camera
    • DSLR Camera
    • Mirrorless Camera
    • Digital Rangefinder Camera
    • Line-Scan Camera

    By End User

    • Personal
    • Professional

    By Geography

    • North America

      • US
      • Canada
      • Mexico
    • Europe

      • France
      • Germany
      • Italy
      • UK
      • Russia
      • Rest of Europe
    • Asia Pacific (APAC)

      • China
      • India
      • South Korea
      • Japan
      • Australia
      • Rest of APAC
    • Middle East & Africa (MEA)

      • South Africa
      • Saudi Arabia
      • UAE
      • Rest of MEA
    • South America (SAM)

      • Brazil
      • Argentina
      • Rest of SAM

    Company Profiles

    • Canon Inc.
    • Eastman Kodak Company
    • Fujifilm Holdings Corporation
    • Leica Camera Ag
    • Nikon Corporation
    • Om Digital Solutions Corporation
    • Panasonic Corporation
    • Hasselblad
    • Ricoh Imaging Company, Ltd,
    • Sony Corporation
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Type and End User

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    Which product is expected to dominate the market in the forecast period?

    DSLR cameras held the largest share in 2020 and they are the most versatile, high-end, and advanced type cameras. These cameras use single-lens reflex method. They consist of a mirror, which reflects the light passing through the lens. DSLR cameras are mostly large in size. These cameras are mainly used by professional photographers or videographers for commercial purposes. Automatic mode and changeable camera lens to fit different situations are the important feature of DSLR cameras. However, DSLR camera manufacturers are now focusing on integrating software enhancements and other technologies in these cameras for enhanced consumer experience, this factor is expected to drive the demand in the coming years.

    What are reasons behind digital camera market growth?

    With the growing trend toward photography, the demand for digital cameras is expanding. Digital camera allows to capture and store photos and videos digitally rather than printing it to film as per traditional analog cameras. As the consumers are becoming enthusiastic toward sight capturing, the demand for compact, lightweight, and high-quality cameras is rising. Further, the introduction of digital cameras and smartphones has created photography a mainstream profession, which have subsequently generated the need for high quality cameras with user-friendly interface and affordable price.

    What are market opportunities for digital camera market?

    Mirrorless cameras are expected to drive the future growth of digital camera market. A mirrorless system camera does not involve a mirror box within its body and are designed with a compact and attractive exterior with an electronic viewfinder paired with interchangeable lens. Such cameras offer convenience in use compared to digital SLR cameras owing to their smaller and lighter structure. Mirrorless camera comprises lens at the front body along with sensor placed inside and a screen along with an optional viewfinder placed at the back. Additionally, such cameras have small, short, and light lenses and are constructed with a tiny LED or OLED screen, which helps to deliver best possible results altogether. Hence, the expanding demand for mirrorless cameras is expected to create lucrative opportunities for the growth of the digital cameras market.

    The List of Companies - Digital Camera Market

    1. Canon Inc.
    2. Eastman Kodak Company (JK Imaging Ltd.)
    3. Fujifilm Holdings Corporation
    4. Leica Camera Ag
    5. Nikon Corporation
    6. Om Digital Solutions Corporation
    7. Panasonic Corporation
    8. Hasselblad
    9. Ricoh Imaging Company, Ltd
    10. Sony Corporation

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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