Digital Cameras and Camcorders Global Market Report 2024

The digital cameras and camcorders market size has grown strongly in recent years. It will grow from $9.03 billion in 2023 to $9.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to the expansion of online streaming and virtual events, increased disposable income, preferences for digital cameras and camcorders product, higher resolution sensors, and greater picture stabilization.

The digital cameras and camcorders market size is expected to see strong growth in the next few years. It will grow to $13.0 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to rise of mirrorless cameras, demand for 4k and beyond, content creation and social media, e-commerce growth, and growing consumer demand for high-quality visual content. Major trends in the forecast period include advancements in digital cameras and camcorders technology, AI-driven features, specialized content creation tools, virtual and augmented reality, and integration with smart devices.

The proliferation of social media platforms is anticipated to drive the expansion of the digital cameras and camcorders market. Social media platforms, online websites, and applications facilitate content creation, sharing, interaction, and connection among users across the internet. These platforms have gained immense popularity for fostering community development, communication, connectivity, and content consumption in an increasingly digitally interconnected era. Digital cameras and camcorders play a pivotal role in enabling individuals, brands, influencers, and content creators to capture high-quality photos and videos for sharing with their followers and audiences on social media platforms. This usage spans branding, marketing, engagement, and revenue creation efforts. For instance, as reported by Made in CA in March 2024, 33.1 million Canadians, representing 91.3% of the country's total population, were active social media users at the beginning of 2023, with a majority holding at least one account. Moreover, the social media penetration rate in Canada stands at 91.3%. Consequently, the widespread adoption of social media platforms is fueling the growth of the digital cameras and camcorders market.

Key players in the digital cameras and camcorders market are actively pursuing innovative technological solutions, such as zoom vlogging cameras, to maintain a competitive edge. Zoom vlogging cameras, specifically designed for video blogging purposes, typically feature zoom capabilities suitable for such activities. For example, in September 2023, Sony Corporation introduced the ZV-1 II, a zoom vlogging camera with an exceptionally wide-angle lens. The ZV-1 II represents an enhanced vlogging camera offering improved image quality and wider-angle lens capabilities, facilitating captivating storytelling. Equipped with advanced imaging technologies including a 1.0-type Exmor RS image sensor, BIONZ X image processing engine, and ZEISS Vario-Sonnar T 18-50 mm F1.8-4 lens, the camera caters to creators of all skill levels. Its fast hybrid autofocus ensures sharp focus on moving subjects, while the cinematic vlog setting adds a filmic effect to the footage.

In April 2024, Nikon Corporation, a Japan-based manufacturer of photographic equipment, acquired RED.com LLC, an undisclosed amount. Nikon's objective with this acquisition is to tap into the expanding professional digital cinema camera market by leveraging the networks and business foundations of both companies. The collaboration aims to drive product development in the film and video production industries, signaling a promising future for the partnership. RED.com LLC, based in the US, specializes in producing digital cameras for cinematography.

Major companies operating in the digital cameras and camcorders market are Samsung Electronics Co. Ltd., Sony Corporation, Panasonic Corporation, Xiaomi Corporation, Canon Inc., Fujifilm Holdings Corporation, Olympus Corporation, Nikon Corporation, Casio Computer Co. Ltd., Zeiss Group, DJI Technology Co. Ltd., GoPro Inc., Polaroid Corporation, Leica Camera AG, Arri Group, Blackmagic Design Pty. Ltd., Ricoh Imaging Company Ltd., Sigma Corporation, Phase One A/S, Victor Hasselblad AB, Yi Technology, Lytro Inc., Insta360, JVC Kenwood Corporation, Pentax Corporation.

North America was the largest region in the digital cameras and camcorders market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital cameras and camcorders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digital cameras and camcorders market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Digital cameras and camcorders are electronic devices designed for capturing photographs and videos, offering various features such as high-resolution imaging, advanced autofocus capabilities, and connectivity options for sharing and editing content. They are utilized for a wide range of purposes, both personal and professional, owing to their versatility and ability to capture high-quality images and videos.

The primary types of digital cameras and camcorders include cameras and camcorders. Digital cameras encompass electronic devices that capture photos and videos, spanning from DSLRs with interchangeable lenses for professional use to compact point-and-shoot cameras for casual photography. These products are distributed through various channels including online platforms, e-commerce websites, company-owned websites, as well as offline retailers, large-format stores, and specialty outlets, serving diverse applications ranging from amateur to professional use.

The digital cameras and camcorders market research report is one of a series of new reports that provides digital cameras and camcorders market statistics, including the digital cameras and camcorders industry global market size, regional shares, competitors with a digital cameras and camcorders market share, detailed digital cameras and camcorders market segments, market trends and opportunities, and any further data you may need to thrive in the digital cameras and camcorders industry. This digital cameras and camcorders 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 digital cameras and camcorders market consists of sales of compact system cameras (CSC), instant cameras, bridge cameras, and mirrorless cameras. 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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