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.
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 has
segmented the global digital camera market on the basis of product segments and
region:
Digital Camera Product Segment Outlook
·
Built-in Lens Camera
·
Interchangeable Lens Camera
·
Digital Single Lens Reflex (DSLR)
·
Non-Reflex
Digital Camera Regional Outlook
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
France
o
Germany
o
Russia
·
Asia Pacific
o
India
o
China
o
Japan
·
Rest of the World
About Grand View Research
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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