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.
Global Digital Camera Unit Shipments, by Product Segment,
2012
Browse full research report on Digital
Camera Market
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.
For more information: http://www.grandviewresearch.com
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