Photographic And Photocopying Equipment Global Market Report 2024

The photographic and photocopying equipment market size has grown strongly in recent years. It will grow from $40.54 billion in 2023 to $43.01 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed during the historical period can be attributed to various factors, including the demand for film-based photography, the need for printing and reproduction services, the use of analog photography, the popularity of consumer photography, and the requirements for business document management. These factors played a significant role in shaping the development of the photographic and photocopying equipment industry.

The photographic and photocopying equipment market size is expected to see strong growth in the next few years. It will grow to $53.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The projected growth in the forecast period can be attributed to factors such as the increasing prevalence of digital photography and imaging, the ongoing trend of office automation and digitization, a focus on sustainability and the use of eco-friendly equipment, the rise of remote work and hybrid office setups, and the demand for professional and creative photography solutions. Noteworthy trends in the forecast period encompass the popularity of mirrorless cameras and DSLRs, the adoption of 3D printing and scanning technologies, the use of compact and portable printers, the integration of artificial intelligence (AI) and image recognition, as well as the need for high-speed and high-resolution printing capabilities.

The growth of the photographic and photocopying equipment market is expected to be driven by the increasing demand for digital cameras and their accessories. This category encompasses various electronic devices and supplementary equipment designed for capturing, storing, and processing digital images and videos. Photographic and photocopying equipment plays a vital role in enhancing the capabilities of digital cameras, enabling users to print, scan, copy, edit, and improve digital images and documents for a wide range of personal, professional, and creative purposes. Notably, the Camera & Imaging Products Association reported in August 2023 that mirrorless cameras experienced a remarkable 20% year-on-year growth, reaching 253 billion yen ($17 billion) in the first half of the year, marking a third consecutive record high. With China witnessing a significant increase of 44%, Japan and Europe also registered growth of 30% and 9%, respectively. Thus, the growing demand for digital cameras and related accessories is anticipated to drive the growth of the photographic and photocopying equipment market.

The primary categories of photographic and photocopying equipment include cameras (excluding television and video cameras), projectors, various types of photocopying equipment, and other equipment related to photographic and photocopying processes. Projectors are devices designed to project images onto screens or surfaces. These devices come in different capacities, including small, medium, and large. They can operate autonomously, semi-autonomously, or manually, and find applications in both household and commercial settings.

The photographic and photocopying equipment market research report is one of a series of new reports that provides photographic and photocopying equipment market statistics, including photographic and photocopying equipment industry global market size, regional shares, competitors with a photographic and photocopying equipment market share, detailed photographic and photocopying equipment market segments, market trends and opportunities, and any further data you may need to thrive in the photographic and photocopying equipment industry. This photographic and photocopying equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growth of the photographic and photocopying equipment manufacturing market is further supported by the projection of stable economic growth in both developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will reach 3.3% in 2020 and 3.4% in 2021. Additionally, the recovery of commodity prices, following a significant decline in the recent past, is expected to contribute to market growth. Developed economies are forecasted to experience stable growth during the forecast period, with emerging markets continuing to grow slightly faster than their developed counterparts. This stable economic growth is likely to stimulate investments in the end-user markets, thereby propelling the photographic and photocopying equipment market throughout the forecast period.

The outbreak of COVID-19 in 2020 presented a significant challenge to the photographic and photocopying equipment manufacturing market. The pandemic acted as a massive restraint on the market as global supply chains were disrupted due to trade restrictions, and consumption declined due to lockdowns imposed by governments worldwide. COVID-19, characterized by symptoms such as fever, cough, and breathing difficulties, led to supply chain interruptions and a decline in consumption. The virus, first identified in Wuhan, China, rapidly spread across the globe. Governments-imposed restrictions on the movement of goods both domestically and internationally, leading to production stoppages due to raw material shortages. Although the outbreak had a substantial impact, it is expected that the photographic and photocopying equipment manufacturing market will recover from this unprecedented event over the forecast period, as it is considered a 'black swan event' unrelated to ongoing market weaknesses or fundamental economic issues.

Major companies in the photographic and photocopying equipment market are prioritizing the development of advanced photographic equipment to gain a competitive edge and expand their product offerings. An example of such innovative equipment is the CRANE 4 Gimbal, which empowers filmmakers with creative freedom in filmmaking. In July 2023, Guilin Zhishen Information Technology Co., Ltd. (Zhiyun-Tech), a China-based electronic equipment manufacturer, launched the CRANE 4 Gimbal designed for DSLRs and cinema cameras. This advanced gimbal boasts features such as built-in balance indicator lights for quick motor balance assessment and Bluetooth connectivity for direct shutter control of compatible cameras. This eliminates the need for cables and allows for remote recording start/stop and photo capture activation.

Projector manufacturers are responding to the demand for energy-efficient equipment by offering laser projectors that provide high-quality images. Laser projectors utilize laser light sources, in contrast to traditional projectors that rely on xenon lamps. Laser projectors deliver exceptional image quality, vivid color reproduction, and 20,000 hours of maintenance-free operation. They are known for their energy efficiency and extended lifespan compared to lamp-based projectors. As a result, laser projectors are experiencing significant growth and are increasingly utilized in applications such as business presentations, home theater systems, gaming, and movie screenings. Key companies in the laser projector manufacturing sector include Epson, Casio, Sony, Christie, and Panasonic.

Major companies operating in the photographic and photocopying equipment market include Canon Inc., Ricoh Group, Sony Corporation, Sharp Corporation, Nikon Corp, Fujifilm Corporation, Panasonic Corporation, Logitech International S.A., GoPro Inc., Olympus Corporation., Samsung Electronics Co., Xerox Corporation, Avid Technology Inc., X-Rite Inc., Eastman Kodak Company, Konica Minolta Inc., Polaroid Corporation, Leica Camera AG, Victor Hasselblad AB, Mamiya Digital Imaging Co. Ltd., Pentax Ricoh Imaging Company Ltd., Sigma Corporation, Tamron Co. Ltd., Tokina Co. Ltd., Schneider Kreuznach, Carl Zeiss AG, Fujinon Corporation, Rodenstock GmbH, Sinar AG, Linhof & Studio Ltd., Horseman Co. Ltd.

Asia-Pacific was the largest region in the photographic and photocopying equipment market in 2023. The Western Europe was the second largest region in the photographic and photocopying equipment. The regions covered in the photographic and photocopying equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the photographic and photocopying equipment market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The photographic and photocopying equipment market consists of sales of compact digital/point and shoots cameras, bridge cameras, action cameras, 360-degree cameras, film cameras, smartphone cameras, rugged cameras, and others. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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