The Global Camera Accessories Market size is expected to reach $7.9 billion by 2031, rising at a market growth of 10.6% CAGR during the forecast period.
Countries such as China, Japan, South Korea, and India have seen substantial growth in disposable incomes, allowing more consumers to invest in high-quality camera equipment. The region is also a major camera and electronics manufacturing hub, with many leading brands operating extensively within Asia Pacific. Consequently, this region would acquire nearly 26% of the total market share by 2031.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, in 2024, February, SIGMA Corporation of America, the US subsidiary of SIGMA Corporation, has unveiled two new full-frame prime lenses tailored for mirrorless camera systems: the SIGMA 15mm F1.4 DG DN DIAGONAL FISHEYE | Art and SIGMA 500mm F5.6 DG DN OS | Sports lenses. Both lenses are set to be available for purchase in mid-March 2024 and are compatible with Sony E-Mount and L-Mount cameras. Moreover, in August, 2023, Tamron Co., Ltd. unveiled the 35-150mm F/2-2.8 Di III VXD, a fast-aperture telephoto zoom lens for Nikon Z mount cameras. This launch product would support broad angle with telephoto and is ideal for both portrait and travel photography.
The rise in travel and adventure tourism has become a significant trend in recent years, driven by people's growing desire to explore new destinations and seek thrilling experiences. The rise in travel and adventure tourism has become a significant trend in recent years, driven by people's growing desire to explore new destinations and seek thrilling experiences. Thus, the increasing popularity of travel and adventure tourism has significantly influenced the demand for cameras and their accessories.
The market is highly competitive, driven by rising interest in photography and videography. Key players like Canon, Nikon and Sony with third-party brands such as Manfrotto and Peak Design. Rapid technological advancements and the growth of mirrorless cameras and smartphone photography fuel demand for innovative accessories. The rise of vlogging and social media content creation further intensifies competition, emphasizing the need for high-quality, user-friendly products.
Countries such as China, Japan, South Korea, and India have seen substantial growth in disposable incomes, allowing more consumers to invest in high-quality camera equipment. The region is also a major camera and electronics manufacturing hub, with many leading brands operating extensively within Asia Pacific. Consequently, this region would acquire nearly 26% of the total market share by 2031.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, in 2024, February, SIGMA Corporation of America, the US subsidiary of SIGMA Corporation, has unveiled two new full-frame prime lenses tailored for mirrorless camera systems: the SIGMA 15mm F1.4 DG DN DIAGONAL FISHEYE | Art and SIGMA 500mm F5.6 DG DN OS | Sports lenses. Both lenses are set to be available for purchase in mid-March 2024 and are compatible with Sony E-Mount and L-Mount cameras. Moreover, in August, 2023, Tamron Co., Ltd. unveiled the 35-150mm F/2-2.8 Di III VXD, a fast-aperture telephoto zoom lens for Nikon Z mount cameras. This launch product would support broad angle with telephoto and is ideal for both portrait and travel photography.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal matrix; Sony Corporation are the forerunners in the Market. In August, 2023, Sony India a regional division of Sony Corporation unveiled FE 70-200mm F4 Macro G OSS II telephoto zoom lens. Through this launch, the company aimed to support the versatile capabilities of photography enthusiasts and professionals. Companies such as Panasonic Holdings Corporation, Canon, Inc., Fujifilm Holdings Corporation are some of the key innovators in Market.
Market Growth Factors
Instagram, TikTok, YouTube, and Facebook have significantly increased interest in photography and videography among a broad audience as a result of their exponential growth and widespread adoption. For influencers and content creators, high-quality visuals are not just a preference but a necessity. They rely heavily on visual content to build their brand, attract sponsorships, and engage their audience. Hence, the rise of social media platforms has created a robust ecosystem where the demand for high-quality visual content drives the market for these accessories.The rise in travel and adventure tourism has become a significant trend in recent years, driven by people's growing desire to explore new destinations and seek thrilling experiences. The rise in travel and adventure tourism has become a significant trend in recent years, driven by people's growing desire to explore new destinations and seek thrilling experiences. Thus, the increasing popularity of travel and adventure tourism has significantly influenced the demand for cameras and their accessories.
Market Restraining Factors
Modern smartphones are now equipped with highly sophisticated camera systems that rival the capabilities of traditional cameras in many aspects. In addition to hardware improvements, smartphone manufacturers have integrated advanced software features that significantly enhance photo quality. Hence, the rapid technological advancements in smartphone cameras have negatively affected the market.Driving and Restraining Factors
Drivers- Increasing popularity of photography and videography
- Rise in travel and adventure tourism
- Increased disposable incomes of consumers
- Technological advancements in smartphone cameras
- High cost of professional equipment
- Increasing consumer awareness and education
- Growth of the professional photography industry
- Proliferation of counterfeit camera accessories
- Rapid technological changes and obsolescence
Type Outlook
Based on type, the market is classified into lenses, bags & cases, tripods, batteries & chargers, and others. The batteries & chargers segment procured 15% revenue share in the market in 2023. Reliable power sources are critical for uninterrupted photography and videography sessions, particularly during extended shoots or in remote locations.
Distribution Channel Outlook
On the basis of distribution channel, the market is bifurcated into online and offline. The offline segment recorded 26.5% revenue share in the market in 2023. Consumers often prefer to physically examine these accessories, try different options, and consult with knowledgeable sales staff before purchasing, particularly for high-end or complex equipment.By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed 38% revenue share in the market in 2023. The region is home to many professional photographers, content creators, and media production companies, which fuels the demand for high-quality accessories.Market Competition and Attributes
The market is highly competitive, driven by rising interest in photography and videography. Key players like Canon, Nikon and Sony with third-party brands such as Manfrotto and Peak Design. Rapid technological advancements and the growth of mirrorless cameras and smartphone photography fuel demand for innovative accessories. The rise of vlogging and social media content creation further intensifies competition, emphasizing the need for high-quality, user-friendly products.
List of Key Companies Profiled
- Panavision Inc.
- Panasonic Holdings Corporation
- Carl Zeiss AG
- Sigma Corporation
- Ricoh Company, Ltd.
- Nikon Corporation
- Tamron Co., Ltd.
- Sony Corporation
- Canon, Inc.
- Fujifilm Holdings Corporation
Market Report Segmentation
By Distribution Channel- Online
- Offline
- Lenses
- Bags & Cases
- Tripods
- Batteries & Chargers
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Camera Accessories Market by Distribution Channel
Chapter 6. Global Camera Accessories Market by Type
Chapter 7. Global Camera Accessories Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Panavision Inc.
- Panasonic Holdings Corporation
- Carl Zeiss AG
- Sigma Corporation
- Ricoh Company, Ltd.
- Nikon Corporation
- Tamron Co., Ltd.
- Sony Corporation
- Canon, Inc.
- Fujifilm Holdings Corporation
Methodology
LOADING...
