The global digital camera market is anticipated to grow at a moderate CAGR of around 2% during the forecast period. Digital camera penetration is rising significantly in the recent years owing to the rising disposable income coupled with changing lifestyle choices. In addition to this, the adoption of digital cameras is also being greatly influenced by the increasing usage of various social media platforms across the globe. Additionally, the growing number of bloggers and blogging platforms is also influencing the digital camera adoption rate across the globe.

However, the high cost of digital cameras coupled with the increasing number of low-cost smartphones with more advanced features will restraint the growth of the digital camera market. Moreover, the trend towards the rental digital camera will also hamper the digital camera market growth during the forecast period.

Segmental Outlook 

The global digital camera market is segmented based on lens type into the built-in lens and interchangeable lens. Further, interchangeable lens segment includes the analysis of digital SLR and non-reflex. Increasing penetration of smartphone tend to be a major challenge for the market, with shifting preference of consumers towards smartphones over cameras to leverage enhanced features in a single device. 

Global Digital camera Market Share by Lens Type, 2019 (%)

The Built-In Lens Segment to Show Lucrative Growth by Lens Type

The built-in lens segment is anticipated to grow with a significant CAGR in the digital camera market attributed to the fact that with in-build lens digital, the camera become smaller, lighter, and shaped appropriately to fit into smaller spaces. Additionally, most of the recently launched digital camera are already equipped with built-in lenses that provides strong focus and better resolution. This is anticipated to significantly impact the build-in segment in the digital camera market. In addition to this, build-in lenses unified design provides a number of advantages for the professional such as proper balancing and easy handling which is expected to fuel the built-in lens segment of digital camera market.

Regional Outlooks

The global digital camera market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold significant market share in digital cameras during the forecast period. The growth of the market in the region is attributed to the replacement of existing earlier models of compact cameras to the digital camera. Additionally, the launch of technologically advanced new digital cameras across the region is driving the market of the digital camera market across the region. Moreover, the increased adoption of complementary digital camera accessories is also expected to fuel the digital camera market across the region.

Global Digital camera Market Growth by Region, 2020-2026

Asia-Pacific will Augment with Considerable Growth Rate in the Digital Camera Market

Asia-Pacific is anticipated to exhibit considerable growth rate in the digital camera market owing to the increasing social media uses across the region. Additionally, the increasing presence of global industry players such as Sony Corp., Panasonic Corp., Toshiba Corp., and many more will also drive the regional growth of the digital camera market. Moreover, the increasing purchasing power of the middle-class population across the region is also fueling the digital camera market during the forecast period.

Market Players Outlook

Some of the key players of the digital camera market include Canon Inc., FUJIFILM Holdings Corp., Nikon Corp., Panasonic Corp., Sony Corp., Olympus Corp., Ricoh Imaging Company, Ltd., Tamron Co., Ltd., and others. The market players are considerably contributing to the market growth by adopting various strategies including new product launch, merger, acquisition, and collaborations to stay competitive in the market. 

Recent Activities

• In May 2020, Sony Corp. launched ZV-1 a compact vlogging digital camera. It comes with the flip-out display, face tracking, and 4k recording support. With this launch, the company is targeting the increasing vlogging market requirement.
• In May 2020, Panasonic Corp. launched its L-Mount standard interchangeable lens zoom lens, the LUMIX S 20-60mm F3.5-5.6. The lens can cover from ultra-wide 20mm to standard 60mm focal length for all kinds of photography including landscape photography.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global digital camera market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.