The global digital camcorders market size is projected to expand at a CAGR of 10.5% during the forecast period, 2021-2028. The growth of the market is attributed to the increasing disposable income and rising inclination of youth toward vlogging.
A digital camcorder is a device to record videos in different formats such as Digital8, MininDV, DVD, and hard drive. Some of the digital camcorders can be utilized to capture pictures and store the data in similar media format as digital cameras. These products are also used in the production houses to record high-end videos.
These camcorders are usually used in the production of low budget movies and television shows to curtail the expenses for shooting. Major consumers of digital camcorders are students and interns working in the film making industry.
Market Trends, Drivers, Restraints and Opportunities
- Ease of availability, affordability, and unlimited storage capacity are the key drivers of the market.
- Rising demand for digital camcorders to record videos in festivals and family occasions are driving the market growth.
- Increasing demand for cameras that capture high-quality images and videos can restrain the growth of the market during the forecast period.
- High cost of camcorders can create challenges in the market growth.
- Growing penetration of artificial intelligence (AI) and nanotechnology can create lucrative opportunities in the coming years.
Scope of the Report
The report on the digital camcorders market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Digital Camcorders Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Resolution (Full HD (1920 X 1080) 1080p and UHD (3840 X 1260) 1260p), Distribution Channels ( Online and Offline)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered
Canon, Sony, Nikon, Pentax, Olympus, Fujifilm, Samsung, Panasonic, JVC, Arri, Blackmagic, RED, Phantom, and Kinefinity
Global Camcorders Market Segment Insights:
Full HD (1920 X 1080) 1080p accounts for a considerable market share
On the basis of Resolution, the market is segregated into Full HD (1920 X1080) 1080p, UHD ( 3840 X 1260) 1260p. The full HD 1080p accounted for above 60% of the market share in 2020, in terms of revenue. This is attributed to the rising demand for Blu-ray prints for video streaming websites and television. It enhances the video quality by acting as a substitute for several video formats such as 360p and 720p.
The UHD 1260p segment is anticipated to expand at a CAGR of 11% during the forecast period. This is due to the rising demand for high-quality videos in the film industry. The ability of this segment digital camcorders to capture fine details is propelling the growth of this segment.
Online segment to grow at a rapid pace
Based on the distribution channels, the market is divided into online and offline. The offline segment dominated the market in terms of revenue, in 2020. This is due to the ability of the consumers to use the product before purchasing it. On the other hand, the increasing penetration of online platforms such as Amazon and Flipkart is driving the growth of the online segment. Benefits such as doorstep delivery and hassle-free return policy is propelling the segment growth.
North America holds a key share of the global market
Based on the regions, the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the global market owing to early adoption of advanced technology and presence of digital platforms . The market in Europe is expected to grow at a substantial rate owing to the increasing number of travelers that are opting for digital camcorders.
The global digital camcorders market has been segmented on the basis of
- Full HD (1920 X 1080) 1080p
- UHD (3840 X 1260) 1260p
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key industry players of the Digtal Camcoders market include Canon, Sony, Nikon, Pentax, Olympus, Fujifilm, Samsung, Panasonic, JVC, Arri, Blackmagic, RED, Phantom, and Kinefinity.
Major industry players are engaging in partnerships with collaborations to increase and improve the product portfolio.