Digital Camera Market: Rapidly Evolving Industry…… COVID-19….



The global digital cameras market is expected to reach USD 19.77 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for interchangeable lens cameras with higher selling prices is expected to fuel industry growth over the forecast period. These include digital single lens reflex cameras (DSLR) as well as non-reflex cameras, also referred to as mirrorless cameras. Increasing replacement demand coupled with technological enhancements such as Wi-Fi-enabled cameras is expected to favorably impact the market.
Media consumption is expected to witness a substantial increase as a direct consequence of lockdowns enforced in several countries across the globe to combat the spread of the deadly coronavirus. Since consumers are forced to stay at home, they are turning to popular OTT service providers such as Netflix, Amazon Prime, etc. or renewing/enhancing their existing Pay TV packages, procuring IPTV subscriptions, etc. to satiate their entertainment needs. eSports is also another sector which is expected to be favorably impacted by more and more people confined to their homes. The report will account for Covid19 as a key market contributor.
The trend of sharing images over the internet and availability of image processing tools has given impetus to the market. Widespread adoption of internet services and surge in social networking activities is expected to further bolster industry outlook. However, proliferation of smartphones globally is a major concern for industry participants, on account of the ready availability and convenience offered by smartphone cameras. The value chain consists of manufacturers of digital cameras and associated parts, as well as retailers or distributors.
The digital camera industry is highly consolidated, and is largely dominated by Japanese players. Key brands include Nikon, Canon, Samsung, Fujifilm, Sony, etc. Consumer feedback is increasingly playing a critical role in product development, with industry participants focusing on providing maximum features and benefits to consumers in a single device. This has resulted higher R&D investments across the market. Brand reinforcement is another key competitive strategy employed through a glut of marketing and promotional activities. 
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/digital-camera-industry/request/rs1
Further key findings from the study suggest:
·         Global digital camera unit shipments were estimated to be 98.6 million units in 2012, and is expected to reach 171.7 million units by 2020
·         Built-in lens cameras accounted for over 78% of the overall shipments in 2012. Interchangeable lens cameras contributed to over 50% of the market revenue in 2012, which can primarily be attributed to high selling prices of these products. Digital Single Lens Reflex (DSLR) cameras occupied over 80% of the market in 2012; however, they are expected to lose market share with an estimated CAGR of 3.8% from 2013 to 2020.
·         Asia Pacific is expected to be the largest and fastest growing regional segment, and is estimated to grow at a CAGR of 8.1% over the forecast period to account for approximately 36% of the global market by 2020. This can primarily be attributed to rising purchasing power and relatively lower product penetration. Compact cameras with built-in lenses accounted for over 75% of regional shipments. Mirrorless cameras are also compact in nature as compared to DSLRs, and have been witnessing growth in countries such as Japan and China.
·         The market is dominated by Japanese participants; Canon Inc. and Nikon Corporation account for majority of the overall market share. Key players also include Sony Corporation, Samsung Electronics Corporation, Fujifilm Holdings, Olympus Corporation and Ricoh Imaging Company among others. Manufacturers have been focusing on the high-end product segment in order to stay competitive in an ecosystem characterized by changing user trends.
This research report analyzes the digital camera industry, which does not include digital cameras in mobile phones and tablets. Growing popularity of social networking and the trend of sharing images over various platforms have led to the growth of the digital camera industry. Services and applications such as photo editors including Adobe Photoshop have also aided in increasing demand for digital cameras.
Lower product penetration in countries such as India and Brazil is expected to be a key opportunity, with a number of end users willing to invest in digital cameras. The market in North America and Europe is expected to benefit from the increasing replacement demand, and innovation remains the key growth strategy. Rise in disposable income coupled with the trend of users upgrading to more expensive products is expected to contribute to increased profitability for market participants over the forecast period.
The surging smartphone adoption is another major factor that has considerably impacted the demand for the digital cameras especially compact point & shoot cameras. The advent of high-resolution camera phones can be a possible threat for the demand for cameras, since users can use their readily accessible mobile devices for capturing images. 
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-digital-camera-market
Grand View Research has segmented the global digital camera market on the basis of product segments:
Digital Camera Product Segment Outlook
·         Built-in Lens Camera
·         Interchangeable Lens Camera
·         Digital Single Lens Reflex (DSLR)
·         Non-Reflex
Key product segments analyzed and reported in this study include built-in lens cameras and interchangeable lens cameras, which are further segmented in to DSLR and non-reflex cameras. Built-in lens camera demand is expected to remain sluggish over the next six years, with unit shipments estimated to reach 128 million units by 2020. Increasing smartphone penetration is expected to be a key challenge for this market, with consumers increasingly preferring smartphones over compact point & shoot cameras to benefit from enhanced features in single device. Also, internet connectivity offered by smartphones, enabling users to upload pictures on social networking sites has also had a significant impact on eroding market share for built-in lens cameras.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more