Digital Camera Global Market Report 2024

The digital camera market size has grown strongly in recent years. It will grow from $6.44 billion in 2023 to $6.81 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The expansion observed during the historical period can be attributed to increased innovations aimed at enhancing user-friendliness of devices, growth in the consumer electronics market, the rise of social media and digital sharing platforms, integration with other devices, and improvements in image quality and features.

The digital camera market size is expected to see strong growth in the next few years. It will grow to $8.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.2% The anticipated growth in the forecast period can be attributed to the increasing popularity of mirrorless cameras, the inclusion of enhanced connectivity features, a growing emphasis on sustainability and eco-friendliness, the rising demand for specialized cameras, and the expansion of emerging markets. Key trends expected in this period include advancements in sensor technology, the integration of artificial intelligence, a focus on specialized camera models, sustainability and eco-friendly design initiatives, and a shift towards customization and personalization options.

The increasing prevalence of smartphones is set to drive the growth of the digital camera market in the future. Smartphones, mobile devices that combine cellular phone functionality with features akin to personal computers, are experiencing heightened adoption due to advancements in technology, affordability, improved connectivity, diverse functions, ecosystem integration, and digital lifestyle trends. Smartphones augment digital cameras by offering editing tools, instant sharing, connectivity, and serving as complementary devices for storage, remote control, and content management. For example, in April 2022, as reported by the Department of Telecommunications under the Ministry of Information and Communications, Vietnam saw an increase in smartphone subscribers from 91.3 million in 2021 to 93.5 million in 2022, accounting for 73.5% of the nation's adult population. This surge in smartphone penetration fuels the growth of the digital camera market.

Leading companies in the digital camera market are concentrating on the development of innovative digital cameras, such as next-generation compact models, to meet the evolving demands of photographers. These advanced compact cameras, exemplified by models such as the Fujifilm X100VI and the Sony α6700, offer cutting-edge features tailored to advanced photography and videography needs. For instance, in February 2024, Fujifilm Holdings Corp., a Japanese camera manufacturer, introduced the X100VI Digital Camera, featuring a 5-axis, in-body image stabilization function with up to 6 stops, an X-TransTM CMOS 5 HR sensor with approximately 40.2 megapixels, and a fixed 23mm F2 lens. The X100VI boasts an Advanced Hybrid Viewfinder, 6.2K/30P movie recording capability, and Camera to Cloud integration for Adobe’s Frame.io, facilitating wireless photo and video uploads. Its design incorporates aluminum surfaces, an ultra-thin tilt LCD monitor, and an integrated body design to accommodate versatile shooting styles.

In March 2024, Nikon Corporation, a Japanese optics and photographic equipment manufacturer, acquired Red Digital Cinema LLC for an undisclosed sum. Through this acquisition, Nikon aims to bolster its presence in the professional digital camera market by harnessing RED's innovative technology and expertise in cinema cameras, including unique image compression technology and color science, to develop distinctive products that push the boundaries of film and video production. Red Digital Cinema, LLC is a US-based manufacturer specializing in digital cinematography cameras.

Major companies operating in the digital camera market are Samsung Electronics Co. Ltd., Sony Corporation, LG Electronics Inc., Hewlett-Packard Inc., Panasonic Corporation, Canon Inc., Fujifilm Holdings Corporation, Ricoh Company Ltd., Olympus Corporation, Nikon Corporation, Carl Zeiss AG, Casio Computer Co. Ltd., DJI Technology Co. Ltd., Eastman Kodak Company, GoPro Inc., Polaroid Corporation, Tamron Co. Ltd., Leica Camera AG, Blackmagic Design Pty. Ltd., Sigma Corporation, Phase One A/S, YI Technology Co. Ltd., Hasselblad Group, Vivo Technology Company Limited, Arashi Vision Inc (Insta360)

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

A digital camera is an electronic device that captures and stores photographic images in digital format, departing from traditional photographic film. It encompasses various features and functionalities, such as different shooting modes and adjustable settings for exposure and focus, often including built-in image processing capabilities. Digital cameras empower users to preview and review their images instantly on a display screen, facilitating seamless sharing and editing of captured media via digital platforms.

The primary types of digital cameras include compact digital cameras, mirrorless interchangeable lens cameras, and digital single-lens reflex cameras. Compact digital cameras are compact and lightweight, designed for everyday use, typically featuring fixed lenses and user-friendly controls. Lens types vary and can be either built-in or interchangeable, utilizing charge-coupled device (CCD) sensors, complementary metal-oxide-semiconductor (CMOS) sensors, or live metal-oxide-semiconductor (MOS) sensors, catering to both personal and professional settings with varying resolution capabilities.

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

The digital camera market consists of sales of point-and-shoot cameras, action cameras, bridge cameras, instant cameras, and smartphone 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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