Technavio Announces the Publication of its Research Report – Global Digital Camera Market 2017-2021
Technavio recognizes the following companies as the key players in the global digital camera market: Canon, Nikon Corporation, Panasonic, Samsung Electronics, and Sony Corporation.
Other Prominent Vendors in the market are: Beijing Huaqi Information Digital Technology, Casio Computer, Fujifilm, Eastman Kodak Company, Olympus Corporation, Polaroid (PLR Ecommerce, LLC.), and Ricoh Company.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increase in the use of action cameras. Action cameras are in high use because of the popularity of social networking sites, growing adventure tourism, and advances in technologies to generate HD quality videos. The advanced features of action cameras enable the photographers to capture high-speed action in stills and videos. The images generated by action cameras are of excellent quality. These cameras also have a long battery backup, waterproof features, and are easy to use in rough conditions. The global sports events such as IPL and FIFA World Cup are telecast using action cameras.”
According to the report, one of the major drivers for this market is Growing social media use. Social networking sites are powerful platforms that are used by people to build social relations. Every day, the number of active users on social networking sites are increasing. Users are joining these social sites to stay connected with family, friends, and people of different cultures, races, and traditions. Close to half of the population of the world is connected through social networking sites, such as Facebook, Twitter, and WhatsApp. The number of people using such social networking sites has increased by 15% in 2016 as compared with 2015, as they are mainly connected to these sites through smartphones and other mobile devices.
Further, the report states that one of the major factors hindering the growth of this market is Complications in value chain. The production and distribution of goods rely on value chains. However, it is challenging to establish value chains. New players are entering the market and face difficulties in establishing their market distribution channels due to the presence of established players. Established players have strong relationships with suppliers and distributors. In addition, the high capital investment requirement acts as an entry barrier and affects the R&D capabilities and customer relationships.
Canon, Nikon Corporation, Panasonic, Samsung Electronics, and Sony Corporation. Beijing Huaqi Information Digital Technology, Casio Computer, Fujifilm, Eastman Kodak Company, Olympus Corporation, Polaroid (PLR Ecommerce, LLC.), and Ricoh Company.