The global digital camera market size was valued at USD 7.6 Billion in 2022 and is projected to reach USD 12.10 Billion by 2031, expanding at a CAGR of 5.3% during the forecast period, 2023–2031. The growth of the market is attributed to the demand for high-quality images & videos, lightweight digital cameras, and increased storage capacity for images or videos.
A digital camera is an electronic device used to store and capture videos and images in digital form. Increasing trend of sharing images and popularity of social networking on some platforms are responsible for the growth of the digital camera market. Adobe Photoshop, a popular photo editing application, increased the demand for digital cameras.
Product penetration is low in some countries such as India and Brazil, which offers opportunities to many end-users for investment in digital cameras. The market in North America and Europe is projected to grow, due to rising innovations and demand for replacement.
Increasing number of social media platforms and digital photography platforms with advanced technology are responsible for the growth of the digital camera market. Players such as Sony, Fujifilm, Canon, and Nikon are engaged in innovating mirror-less cameras in the field.
Demand for compact digital cameras increased, due to action photography. Use of social media platforms has increased for photography. Many professionals use DSLRs to take images and upload them, which results in rising demand for digital cameras. Lockdowns across the globe, due to COVID-19, increased the use of social media platforms for digital photography. Sony expanded its portfolio by launching products for use during the pandemic.
Rising adoption of smartphones for photography affected the demand for digital cameras, mainly shoot cameras and compact cameras.
Market Trends, Drivers, Restraints, and Opportunities:
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Increasing demand for applications in media, sports, and entertainment boosts the market.
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Use of advanced technology unfolded various opportunities to fuel the digital camera market.
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Shifting consumer preferences from digital cameras to smartphone cameras is anticipated to hamper the digital camera market over the forecast period.
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Large amount of time required to transfer data and high cost of camera act as restraints to the market growth.
Scope of the Report
The report on the digital camera market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Digital Camera Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Products (Built-in Lens Camera, Interchangeable Lens Camera, DSLR, and Non-reflex)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Nikon, Canon, Samsung, Fujifilm, Sony, Panasonic, Olympus, Gopro, Eastman Kodak, AEE, Sioeye, OKAA, Blackvue, Papago, DOD, GARMIN, and Philips
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Market Segment Insights
Interchangeable lens cameras are expected to gain a key market share
Based on products, the global digital camera market is divided into built-in lens camera, interchangeable lens camera, DSLR, and non-reflex. Demand for built-in lens cameras is projected to grow over the next six years, with shipments anticipated to reach 150 million units by 2028.
Smartphones offer internet connectivity and enable users to upload images on social networking platforms, which reduced the market share of built-in lens cameras. DSLRs (Digital Single Lens Reflex camera) are premium camera models with rising popularity in developed nations. In 2012, DSLRs accounted for around 17% of the global digital camera unit shipments.
Interchangeable lens cameras are anticipated to expand a high CAGR over the forecast period. In developed countries consumer spending on DSLRs and mirror-less cameras increased. In 2012, market revenue of interchangeable-lens digital cameras was USD 7,534 million. Convenient usage, performance efficiency, and compact size of interchangeable lenses are projected to drive the demand for digital cameras.
Asia Pacific is expected to account for a key market share
On basis of regions, the digital camera market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to be a large market over the forecast period. The digital camera market in Asia Pacific accounted for around 34% of the total global shipments in 2020.
North America dominated the global market in the recent past. Rate of ownership of digital cameras reached maturity in England and North America. Demand for digital cameras is consistently decreasing in the US, France, Germany and the UK over the past few years.
Demand for digital cameras in these regions are expected to be replaced by the demand for compact cameras. Digital camera unit shipments in North America are projected to reach 37500 thousand units in 2028, growing at CAGR of around 6.2% from 2021 to 2018.
Segments
The global digital camera market has been segmented on the basis of
Products
- Built-in Lens Camera
- Interchangeable Lens Camera
- DSLR
- Non-reflex
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Nikon
- Canon
- Samsung
- Fujifilm
- Sony
- Panasonic
- Olympus
- Gopro
- Eastman Kodak
- AEE
- Sioeye
- OKAA
- Blackvue
- Papago
- DOD
- GARMIN
- Philips
Competitive Landscape
The digital camera market is consolidated and mostly dominated by Japan-based players. Key players include Nikon, Canon, Samsung, Fujifilm, Sony, Panasonic, Olympus, Gopro, Eastman Kodak, AEE, Sioeye, OKAA, Blackvue, Papago, DOD, GARMIN, and Philips.
Key players are focusing on product development by offering maximum benefits and features in a single device to consumers. Consumer feedback plays an important role in product development. The players are investing high amount of money in research and development. Brand reinforcement is one of the key strategies implemented by the players, which includes promotional activities.
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