Digital Broadcast & Cinematography Market Outlook
The global digital broadcast and cinematography market size was valued at USD 2,256.3 Million in 2019 and is projected to reach USD 2,629.8 Million by 2027, expanding at a CAGR of 2.0% during the forecast period 2020-2027.
Digital broadcast and cinematography cameras are used for professional work. These cameras have special lenses of high-density sensors and different focal lengths. These cameras are used to capture high-quality motion pictures.
Digital Broadcast And Cinematography Market Dynamics
The market is driven by factors such as increasing urbanization, rising number of studios in cities, and rapid growth of the film industry across the globe. Moreover, increasing individual interest for professional photography is expected to create growth opportunities for market players in the near future.
The increasing trend of wildlife and fashion photography in Asia Pacific and Middle East & Africa is increasing product sales in these regions. Moreover, the rapid penetration of e-commerce in this region is propelling the consumption of digital broadcast and cinematography cameras in these regions.
On the other hand, manufacturer’s partnership with online stores and selling product through company owned portal is fueling the sales of products in these regions. The adoption of omni-channel concept by manufacturers and distributers across the globe is expected to drive the market during the forecast period.
The entertainment and media industry is growing at upward path of growth. Digital video and social media is the fastest growing fields that contribute significantly to the film entertainment industry. This is increasing demand for digital broadcast and cinematography cameras.
The arrival of new investors in the entertainment industry is providing growth opportunities for the market. Thus, the market is expected to grow significantly in the near future due to the expansion of the expansion of the entertainment and media industry.
The flexibility of import & export regulation and increasing globalization around the world is helping key players in the market increase their sales across the globe. Technological advancements pertaining in the entertainment and media industry in developing countries such as Mexico, Thailand, and Indonesia is significantly increasing demand for the digital broadcast and cinematography cameras.
Increasing adoption of home-studio and remote cameras is changing consumer purchasing patterns. Moreover, with the introduction of affordable digital broadcast and cinematography cameras, new studios are opening across the globe.
Increasing research & development and continuous improvements in the product design and quality is fueling the global digital broadcast and cinematography market. Product innovation pertaining to the new style, color, new features, and image capturing techniques associated with the digital broadcast and cinematography cameras is driving their demand among customers.
Requirement of highly skilled professionals knowing the operation of digital broadcast and cinematography cameras and high costs associated with them are challenging the market. Lack of availability of resources in Latin America and Middle East & Africa is challenging market growth.
Digital Broadcast And Cinematography Market Segment Insights
Type Segment Analysis
On the basis of types, the Global Digital Broadcast and Cinematography Market is segmented as ENG (Electronic News Gathering) cameras, cinema cameras, and electronic field production (EFP) cameras. The electronic field production (EFP) cameras segment is anticipated to expand at a CAGR of over 2% during the forecast period due to increasing awareness and technological advancements.
New and emerging players are focusing on this segment to withstand competition in the global digital broadcast and cinematography market. The cinema camera segment is estimated to hold over 33% share of the market in 2019, as most of the consumers are aware about the product and the conventional use of these cameras in the film industry.
Regional Outlook
In terms of regions, the global digital broadcast and cinematography cameras market is fragmented into North America, Europe, Latin America, Asia Pacific and Middle East & Africa. North America is a promising region of the market and the presence of key players who are engaged in continuous product innovation in this region.
The market in Asia Pacific is expected to expand at a significant CAGR during the forecast period. Increasing availability of advanced technologies pertaining to cinematography supports the growth of market in this region.
Growing individual interest in photography as hobby & profession and rising product premiumization are propelling the digital broadcast and cinematography camera market in Europe. Additionally, high purchasing power among consumers in this region drives the growth of the market.
The market in Latin America and Middle East & Africaare expected to grow at a significant rate during the forecast period due to the growth of the film industry in these regions. Moreover, increasing company penetration through mergers and acquisitions supports the growth of the market in these regions.
Key Benefits for Industry Participants & Stakeholders
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Neutral Perspective on Global Digital Broadcast and Cinematography Market Performance
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Historical, Current and Projected Market Size in terms of Value
- In-depth Analysis of the Global Digital Broadcast and Cinematography Market
Segments
Types
- ENG Cameras
- Cinema Cameras
- Electronic Field Production (EFP) Cameras
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Players
- ARRI
- Sony
- Panasonic
- Grass Valley
- Hitachi
- Red.com
- Canon
- JVC
- Blackmagic Design Pty
- Aaton Digital SA
Competitive Landscape
Key players in the market include ARRI, Sony, Panasonic, Grass Valley, Hitachi, Red.com, Canon, JVC, Blackmagic Design Pty, and Aaton Digital SA.
These companies are considered as key players in global digital broadcast and cinematography market based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
Key players in the market are engaged in acquiring regional players to increase their sales globally. Company can withstand competition in the digital broadcast and cinematography market by adopting the latest technologies, increasing consumer awareness, and through significant partnership with photography studios.
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