Digital Camera Market to Reach Valuation of USD 7.3 Billion by 2030 – the Increasing Preference for Portable and Lighter Camera Options Drives the Market

In terms of revenue, the Global Digital Camera Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 5.2% from 2023 to 2030.

Digital Cameras are electronic devices that replace film with digital formats for taking and storing pictures and films. The images can be saved on a memory chip and can be duplicated easily, unlike traditional photographs. It consists of various components such as a lens, viewfinder, body shell, and LCD screen. Digital Cameras use charged coupled devices to capture images digitally. They can be integrated with other digital devices like smartphones, PDAs, and even space telescopes like Hubble and Webb.

Digital images can be used on a various platform and can also be used to store on a computer. These platforms include TV, email, CD, DVD, computer monitors, and the Internet. To satisfy the needs of amateurs as well as professional photographers, many players are focusing on lighter, smaller and higher quality cameras. For example, there is a growing demand for small Digital Cameras, bridge cameras, and mirrorless cameras due to the increasing preference for portable and lighter options that provide improved autofocus coverage and better video performance. 

Key Highlights from the Report

• Based on Lens Type, Interchangeable segment dominates the Digital Camera market owing to the advances in imaging sensor technology and electronic viewfinders.
• Based on Camera Type, the mirrorless segment is accounted the substantial growth of the market in 2022 owing to their smaller and lighter design compared to DSLRs.
• Based on End-user, Pro Photographers segment accounted to mention the maximum growth of the market owing to the increased demand for visual content and diversification of photography genres.
• Based on region, Asia Pacific holds the significant market share within the Digital Camera market in 2022 owing to increased photography trends in the region. 

Market Dynamics

The global Digital Camera market is predicted to experience a decrease in growth rate during the forecast period due to a shift in consumer preference towards smartphone cameras. The sales volume of Digital Camera Shipments worldwide has been decreasing over the last decade. Despite this, major Digital Camera manufacturers have observed fluctuating sales patterns in recent years. The market for Digital Cameras was saturated with various types of products. However, Nikon and Canon targeted a niche customer base, which consisted of professionals such as sports and wedding photographers, by introducing the full frame camera, which offered features like faster shutters, improved resolution, and enhanced clarity. These professionals heavily relied on photography for their livelihood, hence a substandard photograph could have a detrimental impact on their business.

In addition, new market opportunities have emerged for suppliers as a consequence of technological developments and the increasing use of digital photography and Social Media Platforms. The introduction of upgraded features in recent product launches, in addition to convenient payment methods and camera services, is expected to contribute to the market's growth. The major players, such as Nikon, Sony, Canon and Fujifilm which are very positive about widespread use of mirrorless cameras have a particular priority in the development of new innovations.

Asia Pacific led the Digital Camera market in 2022 owing to the high shipment volume of Digital Cameras in countries like China and India. In 2018, China alone had a shipment volume of 387,800 units of built-in Digital Cameras, as reported by the Camera & Imaging Products Association. Moreover, there is strong government support for film production bases in countries such as India, Singapore and China, which are estimated to increase the demand for Smart Cameras across the region. For example, the Infocomm Media Development Authority (IMDA) of Singapore provided USD 14.7 million to South East Asia in December 2019 for developing film and television content. 

The Global Digital Camera Market is Segmented as follows

• Lens Type
  • Built-in
  • Interchangeable
• Camera Type
  • Compact Digital Camera
  • DSLR
  • Mirrorless
• End User
  • Pro Photographers
  • Prosumers
  • Hobbyists
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Digital Camera Market is

Nikon Corporation (Japan), Canon Inc. (Japan), Panasonic Corporation (Japan), Fujifilm Holdings Corporation (Japan), Sony Corporation (Japan), Eastman Kodak Company (U.S.), OM Digital Solutions Corporation (Japan), Sigma Corporation (Japan), Leica Camera AG (Germany), Victor Hasselblad AB (Sweden) 

The Global Digital Camera Market Scope can be Tabulated as below