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Digital Camera Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type and End User

·4 min read

The global digital camera market is expected to grow from US$ 8,290. 25 million in 2021 to US$ 12,119. 44 million by 2028; it is estimated to grow at a CAGR of 5. 6% during 2021–2028. The integration of advanced AI and computational imaging with digital camera is perceived to enhance the low light photography with properties such as Google’s Night Sight and Apple’s Night Mode.

New York, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Camera Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type and End User" - https://www.reportlinker.com/p06130843/?utm_source=GNW
For instance, Sony has designed A9 mirrorless camera with Real-time Tracking11 and Real-time Eye AF.

Following the legacy, the other camera makers such as Canon and Nikon are also focused on integrating AI in digital cameras.Also, the advent of smart camera assistants such as Arsenal, has demonstrated the way toward AI-enabled features, which could promote the overall photography experience.

Additionally, the far-sighted reality of capturing images and videos at night, has now been on par with advanced digital cameras.
To compete with the innovations in the smartphones market, the digital camera manufacturers have come up with installation of multiple cameras.The development of multiple cameras that support AR/VR photography and video is also considered one of the lucrative technological advancements in present scenario.

The use of multiple cameras has been extended to map the surrounding and create better data to process depth.Hence, the changing dynamics of digital cameras, coupled with consumer inclination toward advanced-level photography, are expected to create massive opportunities for the market growth.

The growth of the market is expected to be supported by advanced vision and imaging endorsed by incorporation of autonomous systems. Moreover, the development of multi and hyperspectral cameras—along with miniaturizing of pixels in future, which may create additional stress on the optics in next generation systems, so as to improve quality and performance of the lens—would pave the way for the market growth.

The digital camera market is segmented based on type, end user, and geography.Based on type, the market is categorized into compact digital camera, bridge camera, DSLR camera, mirrorless camera, digital rangefinder camera, and line-scan camera.

The DSLR camera segment represented the largest share of the overall market in 2020.In terms of end user, the digital camera market is segmented into personal and professional.

In 2020, the professional segment accounted for the substantial share of the market.Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

In 2020, APAC accounted for the significant share in the global market.

The ongoing pandemic has drastically altered the status of the digital camera industry and have negatively impacted the growth of the digital camera market.The COVID-19 outbreak has distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage.

The disruptive value chain has had a negative impact on raw material supply, which, in turn, is impacting the growth of the digital camera market.For instance, companies such as Canon reported that the market for interchangeable-lens digital cameras faced severe conditions, however, the sales for new mirrorless camera range EOS R5 and EOS R6 were comparatively higher.

Similarly, notable dip in the sales of digital camera were witnessed by Nikon.However, the company have strategically planned and framed measures to combat the losses occurring from the pandemic.

For instance, the company has successfully established Emergence Management Headquarters based upon Pandemic Management Manuals and BCM Standards. Such efforts are aimed to mitigate the operational inefficiencies caused at the time of pandemic and sustain significant revenue generation.

The overall digital camera market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the digital camera market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the digital camera market.

Major players operating in the global digital camera market include Canon Inc.; Eastman Kodak Company; Fujifilm Holdings Corporation; Leica Camera Ag; Nikon Corporation; Om Digital Solutions Corporation; Panasonic Corporation; Hasselblad; Ricoh Imaging Company, Ltd; and Sony Corporation.
Read the full report: https://www.reportlinker.com/p06130843/?utm_source=GNW

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