(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 15, 2024 (GLOBE NEWSWIRE) -- The "Digital Camera market Report Forecast by Product Type, Lens Type, Countries and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The digital camera market is anticipated to grow from US$7.74 billion in 2023 to US$11.60 billion in 2032, with a compound annual growth rate of 4.60% during 2024 to 2032. The major drivers of this growth are the innovations in camera technology, a rising demand for better picture quality and a shift from the complex and large mirror reflex cameras to compact, easy-to-use mirrorless cameras. The key players in digital camera industry are Canon Inc., Nikon Corporation, Sony Corporation, Panasonic Corporation and Olympus Corporation.
Growing Content Creation Trend
The new wave of content generation for social platforms such as Instagram, YouTube, and TikTok are some factors propelling the digital camera business. Society and the public generally, and members and workers especially, ensure that they acquire high-quality cameras to capture good quality visuals. Equipment that can produce better images with extended features and professional video recording is in high demand as more people use photo and video services, vblogging and tutorials. The application of the digital camera in producing content increases as content developers focus on quality content as a way of cutting through the confusion in the digital space. July 2023, FUJIFILM India has introduced a new model X-S20 that joins the X Series of mirrorless digital cameras. The compact and lightweight camera is especially equipped with features that are suitable for content creators, and influencers.
Technological Advancements
The market for digital cameras is shifting and evolves constantly due to advances in the technology. Higher resolution sensors, better autofocus, and better low-light capabilities entice the amateur and the professional user. From the mirrorless models it is possible to note that these cameras are becoming more compact and are equipped with such functions as 4K and even 8K video shooting. Moreover, interaction with AI for automatic scene identification, image stabilization, and post-processing has enhanced the functionality of digital cameras. The features discussed above help to determine that digital camera has a growing market that will continue to grow. As of October 2022, the model ILCE-7RM5 is the newest addition to Sony's R series of Alpha mirrorless cameras. The phone boasts a new image sensor and AI processing part for enhanced subject recognition and tracking in still and moving photos.
Increasing Professional Photography and Videography Demand
The increase in use of outlook services for professional photography and videography is a major driver of the digital camera market. The advertising sector, journalism and filmmaking also require high end digital cameras for their operations. Stemming from trends such as destination weddings and commercially inspired shoot as well as personal occasions such as pre - wedding shoots also requires professional cameras. In situations where a need for instant image output arises as businesses turn to look for visual content to help them with marketing their brands, digital cameras come in handy or rather serve a very crucial role to play with the kind of image quality and flexibility required when taking high impact visuals across so many fields. Hopefully, more professional players enter the industry as the Camera & Imaging Products Association in Japan (CIPA) envisions a record of 5.29 million mirrorless and DSLR devices to be manufactured this year. Nikon has projected 5.1 million units for one fiscal year from April, 2022 to March, 2023.
Europe Pacific Digital Camera Market
At the present, the Europe digital camera market continues to enjoy a steady year-on-year growth due to incremental improvement on the enhancing on camera equipment together with the continually growing market for professional photographers and entities producing content. Focus markets are Germany, United Kingdom and France while the camera market remains on the rise, mainly mirrorless as well as DSLR cameras accompanying the increasing need for contains creation.
France Digital Camera Market
The France market for the digital cameras are moderate as people getting more involved in content creation, professional photography and many more. Mirrorless cameras, being compact with numerous features being liked by the French consumers. Also, use of high-quality recording devices for video production has been boosted by the ever-growing use of social media such as YouTube and Instagram. Also, fashion and tourism sectors of French economy also drive the need for professional levels of cameras for usage in marketing, promotion and services. Other related factors that have been employments are technology advancement and innovation in image sensors and application of AI to enhance its performance fuels the market growth in France. In Aug 2024 NBC Sports selected Sony Electronics for broadcast technology and on-site services for the 2024 Paris Olympics and Paralympics.
Middle East Digital Camera Industry
The market for digital cameras has been on the rise in the Middle East region, due to the growing demand in digital photography, videography and in sharing content. There has been growing need of quality cameras and especially among the photography enthusiasts, media companies and content developers in the mentioned region. The level of adoption of mobile payments is also moderate but thanks to the countries such as the United Arab Emirates, Saudi Arabia, and Qatar, Besides, as tourism increases and more events occur, as well as the greater influence of social media, mobile payments are becoming more popular.
Saudi Arabia Digital Camera Industry
The use of digital camera by people in Saudi Arabia has potential for growth due to new use cases such as social networks, travelling, photographing. Celebrities and people who create content for their pages on social media platforms like Instagram and YouTube are also embracing the high-quality cameras featuring 4K and superior focus. Additionally, the development of tourism in the country, encouraged by activities such as Riyadh Season, increases the need for more advanced photo and video equipment. Also, so, the market of wedding and event photography is growing; therefore, it also adds new impetus to the development. As a threat, smart phones come with camera capabilities; however, advances in digital cameras remain appealing to professionals and enthusiasts in Saudi Arabia. July 2024 - The EOS R1 and EOS R5 Mark II have been recently released by Canon Europe to revolutionise the professional photographers and videographers' experiences by delivering superb performance and optimised workflows. Equipped with a new Accelerated Capture imaging platform and Deep Learning, these cameras have user friendly interfaces.
Global Digital Camera Company News
July 2024: The Leica D-Lux 8, a compact camera created in line with the brand's excellence in design philosophy, was unveiled by Leica Camera AG. The device provides an easy-to-use interface and increased convenience. The recently released Leica D-Lux 8 boasts ergonomically placed controls, enhanced UX technology, streamlined button layout, and intuitive controls.
June 2024: Nikon Corporation, a major global player in the digital camera industry, has added the NIKKOR Z 35mm f/1.4 to its lineup of goods. The main purpose of the wide-angle lens's creation was to accommodate full-frame/FX format cameras. The bundle includes the Nikon Z mount.
Key players have been covered from 4 viewpoints:
Business Overview Key Persons Recent Development & Strategies Financial Insights
Key Players Analysis:
Canon Inc. Nikon Corporation Sony Corporation Panasonic Corporation Olympus Corporation
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $7.74 Billion |
| Forecasted Market Value (USD) by 2032 | $11.6 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
Key Topics Covered
1 Introduction
2 Research & Methodology
3 Executive Summary
4 Market Dynamics
4.1 Growth Drivers
4.2 Challenge
5 Global Digital Camera Market
6 Market Share Analysis
6.1 By Product Type
6.2 By Lens Type
6.3 By Countries
7 Product Type
7.1 DSLR
7.2 Digital Rangefinders
7.3 Line-Scan Camera Systems
7.4 Compact Digital Cameras
7.5 Bridge Cameras
7.6 Integration Camera
8 Lens Type
8.1 Built-in Lens Camera
8.2 Interchangeable Lens Camera
9 Regions
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa
10 Porter's Five Forces Analysis
10.1 Bargaining Power of Buyers
10.2 Bargaining Power of Suppliers
10.3 Degree of Rivalry
10.4 Threat of New Entrants
10.5 Threat of Substitutes
11 SWOT Analysis
11.1.1 Strength
11.1.2 Weakness
11.1.3 Opportunity
11.1.4 Threat
12 Key Players Analysis
12.1 Canon Inc.
12.2 Nikon Corporation
12.3 Sony Corporation
12.4 Panasonic Corporation
12.5 Olympus Corporation
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