The global Digital Cameras Market is expected to reach USD 19.77 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for interchangeable lens cameras with higher selling prices is expected to fuel industry growth over the forecast period. These include digital single lens reflex cameras (DSLR) as well as non-reflex cameras, also referred to as mirrorless cameras. Increasing replacement demand coupled with technological enhancements such as Wi-Fi-enabled cameras is expected to favorably impact the market.
The
trend of sharing images over the internet and availability of image processing
tools has given impetus to the market. Widespread adoption of internet services
and surge in social networking activities is expected to further bolster
industry outlook. However, proliferation of smartphones globally is a major
concern for industry participants, on account of the ready availability and
convenience offered by smartphone cameras. The value chain consists of
manufacturers of digital cameras and associated parts, as well as retailers or
distributors.
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Further key findings from the study suggest:
- Global
digital camera unit shipments were estimated to be 98.6 million units in
2012, and is expected to reach 171.7 million units by 2020
- Built-in
lens cameras accounted for over 78% of the overall shipments in 2012.
Interchangeable lens cameras contributed to over 50% of the market revenue
in 2012, which can primarily be attributed to high selling prices of these
products. Digital Single Lens Reflex (DSLR) cameras occupied over 80% of
the market in 2012; however, they are expected to lose market share with
an estimated CAGR of 3.8% from 2013 to 2020.
- Asia Pacific
is expected to be the largest and fastest growing regional segment, and is
estimated to grow at a CAGR of 8.1% over the forecast period to account
for approximately 36% of the global market by 2020. This can primarily be
attributed to rising purchasing power and relatively lower product
penetration. Compact cameras with built-in lenses accounted for over 75%
of regional shipments. Mirrorless cameras are also compact in nature as
compared to DSLRs, and have been witnessing growth in countries such as
Japan and China.
- The market
is dominated by Japanese participants; Canon Inc. and Nikon Corporation
account for majority of the overall market share. Key players also include
Sony Corporation, Samsung Electronics Corporation, Fujifilm Holdings,
Olympus Corporation and Ricoh Imaging Company among others. Manufacturers
have been focusing on the high-end product segment in order to stay
competitive in an ecosystem characterized by changing user trends.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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