Digital Camera Market Trends

Global Digital Camera Market Overview:

Digital Camera Market Size was valued at USD 7.2 billion in 2021. The Digital Camera market industry is projected to grow from USD 7.6 billion in 2022 to USD 11.4 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.3% during the forecast period (2024 - 2032) driven by the demand for lightweight cameras that can take high-resolution pictures quickly increasing.

FIGURE 1: Digital Camera Market 2018-2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Covid-19 Analysis

COVID-19 is to the 21st century what the Bubonic Plague was to the 5th century and the Black Death was to the 14th century - a pandemic that changed the destiny of the world. COVID-19 is a dangerous virus. Many people and all governments around the world realized this early on because of all of the deaths that the virus caused. It also left those people who recovered either vulnerable to contracting it again after a few months. People who recovered also developed serious long-term health problems like shortness of breath and diabetes.

Governments wanted to stop the spread of this virus by imposing lockdowns and quarantines. This forced many businesses in many industries to either drastically scale back production or temporarily halt production. The digital camera market would have been severely adversely affected were it not for the ingenuity of its manufacturers. They went online and started to offer free tutorials on how to use these cameras on various social media platforms. This was very successful since many people wanted to busy themselves during quarantine.

That notwithstanding, the digital camera market did suffer since more people were staying indoors and didn’t need to take as many pictures with their digital cameras. Production of these cameras dropped dramatically since demand dropped dramatically.

Digital Camera Market Trends

Increasing Use Of Digital Cameras In Sports Media

The rising usage of digital cameras in sports media is the key driver of the market. The stadium's high-speed and digital camera system allows viewers to witness slow-motion repeats in critical game conditions and improves accuracy while viewing. Similarly, high-resolution digital cameras aid in the capture of clean and crisp photographs and movies in animal, landscape, architecture, and studio photography. The emphasis on action photography has raised demand for small digital cameras such as GoPro. Furthermore, social media platforms such as Instagram have significantly enlarged the scope for photography, which is likely to drive the growth of the Digital Camera Market.

Digital Camera Market Segment Insights:

Digital Camera Product Type Insights

The market is divided into two categories based on product type: single reflex and non-reflex. Due to its cost-effectiveness over other types, a single reflex sector is likely to hold a significant portion of the market. Furthermore, such a digital camera allows users to efficiently install distinct controls for various camera functions such as exposure compensation, white balance, ISO, and so on. This will almost certainly fuel future segmental expansion.

Digital Camera Lens Type Insights

The market is divided into two types of lenses: fixed lenses and interchangeable lenses. As a lens in such a camera can be swapped for another lens, the interchangeable lens sector is likely to hold the highest proportion of the global market. Furthermore, compared to other types, interchangeable-lens digital cameras provide customers a broader range of image taking possibilities. This will most likely fuel segmental growth.

September 2022: Canon U.S.A., Inc., a major producer of digital imaging solutions, announced the addition of a suite of products to its cinema and broadcast capabilities in response to consumer demand. Canon's latest 8K CINE-SERVO lens for a wide range of productions is the CINE-SERVO 15-120mm T2.95-3.95 EF/PL (CN8x15 IAS S); the EU-V3, a modular expansion unit for the EOS C500 Mark II and EOS C300 Mark III cameras; a Cinema EOS firmware update; and the DP-V2730i, a 27-inch 4K professional reference display that may seamlessly fit into workflows of broadcasters and filmmakers.

FIGURE 2: Digital Camera Market SHARE BY LENS TYPE 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Digital Camera Sensing Technology Insights

The global market is divided into two segments based on sensing technology: CCD and CMOS. Because CMOS lens-based cameras offer quicker processing speed and sensitivity than CCD cameras, the CMOS sector is expected to have a considerable market share. Furthermore, regular technological advancements in the design of CMOS lens-based digital cameras are expected to entice people to purchase such devices. As a result, the CMOS segment generates more money.

Digital Camera Application Insights

The global market is divided into two applications: personal and professional. Because of the high demand for superior digital cameras among film producers, the professional segment is likely to dominate the market. Furthermore, higher pricing for professional application purpose digital cameras results in increased revenue from this category.

Digital Camera Regional Insights

Digital image cameras are frequently employed in the development of various medical devices such as microscopes and ophthalmological equipment. The health of patients may be easily tracked in hospitals using a computer program linked to the digital cameras embedded inside these devices. As a result, the utility of such medical gadgets grows. As a result, the European region's fastest growth is attributable to rising production values of various types of medical equipment in countries such as Germany, France, and Italy, which supports the region's consumption rate of digital cameras.

The Asia Pacific area has the highest share due to the large shipment volume of digital cameras in countries such as China and India, which supports revenue creation from such items in the region. According to the Camera & Imaging Products Association, the shipment volume of built-in digital cameras in China reached 3,87,800 units in 2018. Furthermore, strong government support for the development of film production hubs in India, Singapore, China, and other countries is likely to promote the region's demand for smart cameras for film applications. For example, Singapore's Infocomm Media Development Authority (IMDA) funded USD 14.7 million in December 2019 to develop film and television content across South East Asia.

FIGURE 3: Digital Camera Market SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Digital Camera Key Market Players & Competitive Insights

The digital camera industry is extremely consolidated, with Japanese firms generally dominating. Nikon, Canon, Samsung, Fujifilm, Sony, and more major brands are represented. Consumer feedback is increasingly important in product development, with industry participants focused on giving consumers with the most features and benefits in a single gadget. This has resulted in increased R&D investments throughout the market. Brand reinforcement is another key competitive strategy employed through a glut of marketing and promotional activities.

The key players in the market have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.

Key Companies in the Digital Camera market include

• 
  

  Panasonic Corporation

  
  


• 
  

  Canon Inc.

  
  


• 
  

  Sony Corporation

  
  


• 
  

  Nikon Corporation

  
  


• 
  

  Olympus Corporation

  
  


• 
  

  Fujifilm Holdings Corporation

  
  


• 
  

  Pentax

  
  


• 
  

  Leica Camera AG

  
  


• 
  

  Samsung Electronics

  
  


• 
  

  Red.com, LLC

  
  


• 
  

  Casio Computer Co., Ltd.

  
  


• 
  

  GoPro

  
  


• 
  

  SJCam

  
  


• 
  

  TAMRON Co. Ltd.

  
  


• 
  

  The Ricoh Company Ltd.

  
  

Digital Camera Industry Developments

February 2024, The digital camera, Fujifilm Instax Pal, has been introduced to the Indian market. Earlier this year, the instant film camera had its debut in the United States of America, and it has now also been launched to the market in India. Featuring a 1/5-inch CMOS sensor with a primary color filter and a resolution of 2560×1920 pixels, the pocket-sized digital camera is equipped with a superior image quality. The newest addition to the Instax portfolio has a spherical, smooth appearance and is available in a variety of pastel colors. It is aimed at youngsters and teens. There are five distinct color gradations that may be selected for the camera.

When purchased in India, the Fujifilm Instax Pal digital camera may be purchased for a starting price of Rs. 10,999. Gem Black, Lavender Blue, Milky White, Pistachio Green, and Powder Pink are some of the color possibilities that are offered for this beauty product. The camera that is about the size of a palm may be bought at the Fujifilm website. Optional accessories include a detachable ring strap that serves as the device's viewfinder and also functions as a camera stand, as well as a Link Mode switch that allows for the rapid printing of photographs using Instax's Link series printers. These accessories may be bought separately.

February 2024 sees the announcement by B&H of FUJIFILM X100VI, a sixth-generation advanced compact camera featuring a hybrid viewfinder with beautiful retro looks while offering excellent imaging. An improvement on its predecessor has been made through the addition of a 40MP sensor, better video and AF performance, and in-body image stabilization for the first time in the X100-series. The X100VI camera is inspired by the X-H2, and it has an APS-C-format 40.2MP sensor as well as an X-Processor 5. This sensor-processor combination does not just provide higher res stills but also facilitates the creation of videos at 10-bit 6.2K 30p, or even 4K60p or FHD240p using an updated AF algorithm that incorporates deep learning AI technology for faster autofocus as well as improved subject detection and tracking in low-light situations.

Canon Inc., June 2023: Canon recently announced two significant production milestones –110 million units of EOS Series interchangeable-lens cameras were sold by March, while by May this year, it had sold 160 million RF/EF series interchangeable lenses. The one hundred millionth EOS series camera produced was an EOS R6 Mark II (released in December 2022), while Canon numbered its hundred-sixtieth lens with the RF100mm F2.8 L MACRO IS USM (released in July this year). EOS stands for Electro-Optical System; it also means “dawn” in Greek mythology. Canon’s new EF electronic mount system was launched together with the first EOS model in March 1987 after doing away with mechanical aperture stop-down linkages in favor of purely electronic communication between lens and body.

In June 2023, Leica filed a new product with the Federal Communications Commission (FCC), which is described as a “hybrid instant camera” and sounds very similar to the Fujifilm Instax Mini Evo. According to Leica Rumors, a new product called “hybrid instant camera” has been recently registered by Leica AG in Germany with the FCC. Hybrid instant cameras can save digital images on board or memory cards but also produce these prints directly from the camera’s body for immediate satisfaction, like Polaroid instant camera.

Digital Camera Market Segmentation:

Digital Camera Product Type Outlook

• 
  

  Single Reflex

  
  


• 
  

  Non-Reflex

  
  

Digital Camera Lens Type Outlook

• 
  

  Fixed Lens

  
  


• 
  

  Interchangeable Lens

  
  

Digital Camera Sensing Technology Outlook

• 
  

  CCD

  
  


• 
  

  CMOS

  
  

Digital Camera Application Outlook

• 
  

  Personal

  
  


• 
  

  Professional

  
  

Digital Camera Regional Outlook

• 
  

  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  

• 
  

  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Rest of Asia-Pacific
  
  
  • Middle East & Africa
  
  
  • South America