Glob The global digital broadcast and cinematography market 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. 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.
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.
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.
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.
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According to this Growth Market Reports report, the market from digital broadcast and cinematography is likely to register a CAGR of 2.0% during forecast period 2020-2027, with an anticipated valuation of USD 2,629.8 million by the end of the 2027.
In addition to market size (in USD Million) and company market share (in % for base year 2019), other data such as pricing analysis for year 2017 to 2027 (estimated pricing analysis) is provided for period (2015 to 2019), Impact of key regulation for digital broadcast and cinematography market is available in final report.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Changing individual interest in professional photography, film industry advancement, introduction of chromatography methods and increase in R&D expenditure by manufacturers for developing new digital broadcast and cinematography cameras is expected to drive the market growth during forecast period.
Studios and film Industry are the key end-user that are driving the digital broadcast and cinematography market.
The market is expected to witness decline between 2019 and due to the adverse impact of COVID 19 pandemic on supply chain of medical industry.
The base year considered for the global digital broadcast and cinematography market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2018 & 2019 are the historic years and the forecast is provided from 2020 to 2027.
Major Manufactures in the market include, ARRI, Sony, Panasonic, and Grass Valley.
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