Digital Camera Market to Grow at a CAGR of 6.5% During 2024-2032, Driven by the Growing Interest in Photography and Superior Image Quality

Although, historically, the demand for digital cameras witnessed a dip, in recent times, the demand for the same has picked up, driven by the growing interest of people in photography and clicking aesthetic pictures. Digital cameras offer photographers with several automated control functions while the advanced versions allow for manual control of many functions. For instance, digital cameras like digital SLR camera, allow its users to adjust crucial settings like lighting, aperture, and shutter speed, aiding in improving the quality of the picture. In addition, a key advantage offered by digital cameras is that it provides the view of the captured videos and images immediately, supporting the digital camera market demand.

There is a wide variety of digital cameras available in the market. Digital single lens reflex cameras, also commonly known as DSLR, offer a strong build and value for money along with a range of lenses. DSLRs have interchangeable lens that can be conveniently attached and detached. Further, several DSLRs have modern mirrorless features such as 4K video. The expanding demand for interchangeable lenses is encouraging manufacturers to enhance their production capabilities long with existing range. In June 2023, Canon Inc. (OTCMKTS: CAJFF) announced two major production milestones including a total of 110 million EOS Series interchangeable-lens cameras in March 2023 and 160 million RF/EF series interchangeable lenses in May 2023. In September 2023, FUJIFILM Corporation unveiled the development roadmap for adding two new lenses to its existing lineup of interchangeable GF lenses, making it a total of 20. These lenses are designed for the GFX Series of mirrorless digital cameras.

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Market Analysis by Type and Region:

• The market on the basis of type can be divided into interchangeable lens cameras and built-in lens cameras. Interchangeable lens cameras can be further segmented into digital single lens reflex (SLR) cameras, digital rangefinders, line-scan camera systems, and mirrorless camera.  Further, built-in lens cameras are bridge cameras and compact digital cameras.

• The regional markets for digital cameras include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The growing field of photography amid amateurs and professionals is supporting the digital camera market growth. Interchangeable lens cameras that offer extraordinary quality are gaining traction. The growth of the interchangeable lens cameras is expected to be driven by mirrorless cameras.

• The popularity of mirrorless cameras is growing among photographers due to their benefits such as smaller and lighter size, along with enhanced autofocus.

• The market players offer a variety of digital cameras, including but not limited to action cameras, underwater cameras, and instant cameras.

• The growing influence of social media has propelled the demand for digital cameras to create content by capturing high-quality photos and videos.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for digital cameras for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the type and regions of digital camera.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global digital camera market are Canon Inc., Nikon Corporation, Sony Group Corporation, Panasonic Corporation, and FUJIFILM Holdings Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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