Digital Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
A digital camera produces digital images that can be stored in a computer or displayed on a screen. Unlike film camera, digital camera use charged coupled device (CCD) to capture images, which are stored in digital electronic format in a memory card. These cameras eliminate film processing, i.e., there is no need to develop the film roll in the dark room. Moreover, they offer massive storage capacity, have a viewing screen that allows to view the image as soon as it is clicked along with many other user-friendly features. However, with the advent of high-end smartphones, the digital camera market has experienced a slow growth over the past few years. According to IMARC Group’s latest report, titled “Digital Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global digital camera market reached a value of US$ 18.6 Billion in 2017.
The global digital camera market is negatively influenced by the availability of superior camera functions on smartphones. With the launch of every smartphone, the camera functions are consistently getting better, side-lining the need to own digital cameras. Moreover, consumers believe that smartphones are a better investment as opposed to digital cameras, since these phones offer various additional functions. Besides, the rental system in the camera market has also led to a decline in the sales of digital cameras for professional purposes. Apart from this, minimal customer engagement by the camera manufacturers and complex specifications have diminished the growth prospects of the market. Owing to these restraints, the market is anticipated to decline at a CAGR of 11.5% during 2018-2023, reaching a value of US$ 8.9 Billion by 2023.
The report has segmented the market on the basis of type into built-in lens cameras, interchangeable lens cameras, compact digital cameras, bridge cameras, Digital Single Lens Reflex (SLR) Cameras, digital rangefinders, line-scan camera systems, integration camera and water-resistant cameras. On a regional basis, the report covers Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Currently, Asia Pacific represents the largest region, accounting for majority of the global shares. On analysing the import-export scenario, it is found that the United States is the largest importer and China is the largest exporter of digital cameras. The report has also analysed the competitive landscape of the market with some of the key global players being Canon, Inc., Nikon Corporation, Sony Corporation, Panasonic Corporation and Olympus Corporation.
This report provides a deep insight into the global digital camera market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the digital camera industry in any manner.
Key Questions Answered in This Report:
How has the global digital camera market performed so far and how will it perform in the coming years?
What are the key regions in the global digital camera market?
Which are the popular product types in the global digital camera market?
What are the import and export trends of digital camera?
What are the various stages in the value chain of the global digital camera market?
What are the key driving factors and challenges in the global digital camera market?
What is the structure of the global digital camera market and who are the key players?
What is the degree of competition in the global digital camera market?
How is digital camera manufactured?
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