Digital Camera Market Overview:
Digital Camera market is expected to grow at CAGR of 7.1% during the forecast period and expected to reach market size of USD 5 Billion by the end of forecast period. The overall digital cameras market is presently formed by variety of profound trends allied to lenses, photo accessories and other key features. The international market for digital cameras is predictable to testify hefty improvement ahead along with technological build ups like touch screen and high definition (HD) quality cameras.
The compliance of digital single lens reflex cameras is supplementary reason for the overall market to swiftly gain grip compared to analogous markets. It is believable that digital SLR cameras market will immensely rise on the back of failing prices, growing digitization, flat usage and substantial demand in the similar markets. The overall market for Digital Camera Market Technology is intended to eyewitness healthy progression in near future.
The popularity of DSLR camera is added foremost cause for the worldwide market gain grip compared to parallel markets. North America digital camera are expected to grow at a fast rate by the end the end of the forecasted period. APAC has been growing enormously over the last era. The growing disposable income and rising interest in photography in India and other South-east Asian countries, are some of the key factors for the growth of the digital camera market.
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The well-known companies in the Digital Camera market globally are Koninklijke Philips N.V (Netherlands), Pentax Corporation (Japan), Eastman Kodak Company (U.S.), Samsung Group (South Korea), Panasonic Corporation. (JAPAN), Fujifilm Holdings Corporation (Japan), OLYMPUS Corporation (Japan), SONY Corporation (Japan), Fujifilm Holdings Corporation (Japan), Nikon Corporation (Japan), Canon Inc. (Japan)and among others
The segmentation of the digital camera market has been segmented on the basis of digital sensor type, product type, application, components, and region. The segmentation of the digital camera market on the basis of product types comprises of bridge camera, digital single lens reflex (DSLR), digital rangefinders, compact digital cameras, built-in lens and non-reflex. Based on digital sensor types, the digital camera market is segmented into CMOS sensor, CCD sensor, LiveMOS sensor, and Foveon X3 sensor.
Based on the components, the digital camera market is segmented into sensors, lenses, memory card, LCD screen, and among others. While on the basis of application the digital market is segmented into commercial and residential. On the basis of geography, the digital camera market is segmented into Asia Pacific, North America, Europe, and the rest of the world.
Detailed Regional Analysis
Market Research Future Analysis shows that the growing demand for progressive digital cameras is a crucial feature pouring the progress of this market in the coming years. Digital camera demand is booming as social networking and bent of sharing pictures on numerous platforms have driven growth of digital camera industry.
Increasing smartphone penetration is expected to be a key challenge for this market. With increase in the consumer’s preference of smartphones over compact point & shoot cameras to benefit from enhanced features in a single device also caters a challenge in the growth of this market. Also, internet connectivity offered by smartphones, enabling users to upload pictures on social networking sites has also had a significant impact on eroding market share for built-in lens cameras.
APAC digital camera market is expected to grow with a higher CAGR. Factors such as growing disposible income and the existence of leading merchants in the APAC region will underwrite to this market’s growth predictions till the end of the forecast year.
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