Digital Camera Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.39 Billion |
| Market Size (2029) | USD 6.83 Billion |
| CAGR (2024 - 2029) | 4.85 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Digital Camera Market Analysis
The Digital Camera Market size is estimated at USD 5.39 billion in 2024, and is expected to reach USD 6.83 billion by 2029, growing at a CAGR of 4.85% during the forecast period (2024-2029).
- The expansion of the digital camera market was fueled by advances in artificial intelligence and other new technologies, enabling camera forms to become smaller and more powerful. In low-light circumstances, artificial intelligence assists cameras in enhancing pictures and reducing noise. The tiniest working camera is the size of a rice grain. Modern technology enables security firms to maintain a high resolution while maintaining a compact footprint.
- Compact digital cameras such as GoPro have also seen increased demand for action photographs. Social media platforms, such as Instagram, have also improved the scope of photography among many global users. Rather than taking pictures through their phones, many people use professional digital SLRs to capture images and upload them to an app.
- Many companies also believe that although smartphone cameras have replaced digital cameras over the last decade, the growing awareness about digital cameras worldwide has differentiated their market and scope. Hence, digital cameras are expected to revive in the coming years.
- According to an industry expert, smartphone cameras are not meant to replace the higher-end DSLR and mirrorless cameras. While smartphone cameras have more features that use AI and computational photography techniques, they are still behind in terms of quality. Hence, the commercial photography market will always depend on digital cameras.
- Consumers increasingly favor smartphones over portable point-and-shoot cameras to benefit from expanded functionality in a single device, which is projected to be a significant issue for this industry. Smartphones' internet connectivity allows users to instantly upload photos to social networking sites, substantially influencing the diminishing market share for built-in lens cameras.
- In September 2023, FUJIFILM announced the introduction of the FUJIFILM GFX100 II digital camera (GFX100 II). The camera includes a newly developed, 102-megapixel high-speed image sensor and Fujifilm’s latest 5th generation X-Processor 5 image processing engine. This provides unique benefits to image makers, especially in the areas of high-speed, continuous shutter mode, autofocus (AF), and video.
Digital Camera Market Trends
Increasing Sales of Mirrorless Lens are Driving the Market
- The evolution and innovation of mirrorless cameras are expected to drive the demand for mirrorless lenses in the future. Significant market players have been spending much on camera technology to offer differentiated photography solutions.
- Vlogs and content production are new ways to bring entertainment and insights into numerous sectors. Photos taken with a mirrorless camera-enabled mobile phone can be shared on social media platforms like Instagram, Twitter, Facebook, and WhatsApp.
- Mirrorless cameras offer excellent image quality and features, making them more transportable and lighter than DSLRs. Hence, they are considered excellent travel cameras. Professional vloggers use these cameras to shoot high-quality photos and films. Mirrorless provides an advantage over DLSR in terms of compactness. The increasing use of mirrorless cameras is expected to increase the demand for mirrorless lenses during the forecast period.
- However, among marketing professionals, Facebook is one the most widely used social media platforms worldwide due to recent technological advances and an increasing number of digital photography platforms and social media sites as of January 2023. A global survey shows that 89% of respondents to social media marketing use the network to promote their business, while another 80% have created an opportunity for businesses in the market study through Instagram. Major camera manufacturers, such as Sony, Nikon, Canon, and Fujifilm, are introducing innovations in mirrorless cameras and are optimistic about their adoption.
North America has the Major Market Share
- North America has a developed consumer electronics sector, with electronic products in most households. The North American digital camera market is expected to experience a boost in the coming years. Many regional filmmakers are reaching out to audiences through short films, ads, and marketing videos.
- Many people are seeking out acceptable alternatives to standard camera systems to produce higher-quality material. Digital cameras use a photosensitive microchip known as a charge-coupled device (CCD) to capture and process pictures, which allows images to be stored on the camera's memory drive.
- The growing trend of film marketing and advertising in the region presents considerable prospects for makers of digital cameras. Film production businesses seek new methods to communicate with their consumers and get feedback on their image quality through social media.
- Moreover, the region's leading photography institutions, like the Texas School of Professional Photography and the New York Institute of Photography, are rapidly generating professional photographers, which, in turn, is expected to increase the demand for digital cameras.
- In February 2023, Canon U.S.A. Inc. announced the addition of a suite of products to its cinema and broadcast offerings in response to user demand. Canon's latest 8K CINE-SERVO lens for a wide range of productions is the CINE-SERVO 15-120mm T2.95-3.95 EF/PL (CN8x15 IAS S); the EU-V3, a modular expansion unit for the EOS C500 Mark II and EOS C300 Mark III cameras; a Cinema EOS firmware update; and the DP-V2730i, a 27-inch 4K professional reference display that may seamlessly fit into workflows of broadcasters and filmmakers.
Digital Camera Industry Overview
The digital camera market is fragmented and highly competitive due to players like Nikon Corporation, Sony Corporation, and Canon Inc. Although the market is facing huge competition from the smartphone market, market players are focusing on product launches to target niche customer bases.
• July 2024: Canon Europe announced the launch of its highly anticipated flag bearers for the EOS R System – the EOS R1 and EOS R5 Mark II, designed to take professional photography and videography to new levels.
• February 2024: Sony introduced the Alpha 9 III camera with the world’s first full-frame global shutter image sensor. The new global shutter full-frame image sensor enables the camera to shoot at burst speeds of up to 120 fps with no distortion or camera blackout. By combining this innovative sensor with Sony’s most advanced AF system to date, boasting AI autofocus with up to 120 times AF/AE focus calculations per second, as well as the ability to sync flash at all shooting speeds, the Alpha 9 III opens up a new world of possibilities for professional photographers to capture that decisive moment.
Digital Camera Market Leaders
-
Nikon Corporation
-
Canon, Inc.
-
Panasonic Corporation
-
Sony Corporation
-
Fujifilm Holdings Corporation
*Disclaimer: Major Players sorted in no particular order
Digital Camera Market News
- February 2024: FUJIFILM Corporation launched the eye-catching and ultra-compact INSTAX Pal digital camera. The palm-sized digital camera joined the renowned INSTAX series of instant cameras and smartphone printers, allowing users to capture spontaneous moments and memories anytime and anywhere.
- August 2023: FUJIFILM Corporation announced the launch of its mirrorless digital cameras, the FUJIFILM XH2S and FUJIFILM XH2, which won bronze medals at the International Design Excellence AwardsIDEA 2023, organized by the Industrial Designers Society of America. The two flagship models in the FUJIFILM X series, which offer excellent image quality owing to a unique color reproduction technology, are the FUJIFILM XH2S and xH2D.
Digital Camera Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Threat of New Entrants
4.2.3 Bargaining Power of Consumers
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Impact of COVID-19 Aftereffects and Other Macroeconomic Factors on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Anticipated Increase in Sales of Mirrorless Lens
5.1.2 Demand for Specialized Products from Niche Customer Base
5.2 Market Challenges
5.2.1 Strong Competition from Smartphones with Advanced Features
5.2.2 Growing Trend Toward Camera Rentals
5.3 Key Technological Innovations - Mirrorless Lens and Accessories
5.4 Historical Trend Analysis of Digital Camera Sales
6. MARKET SEGMENTATION
6.1 By Lens Type
6.1.1 Built-in
6.1.2 Interchangeable
6.2 By Camera Type
6.2.1 Compact Digital Camera
6.2.2 DSLR
6.2.3 Mirrorless
6.3 By End User
6.3.1 Pro Photographers
6.3.2 Prosumers
6.3.3 Hobbyists
6.4 By Geography***
6.4.1 North America
6.4.2 Europe
6.4.3 Asia
6.4.4 Australia and New Zealand
6.4.5 Latin America
6.4.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Nikon Corporation
7.1.2 Canon Inc.
7.1.3 Panasonic Corporation
7.1.4 FUJIFILM Holdings Corporation
7.1.5 Sony Corporation
7.1.6 Eastman Kodak Company
7.1.7 OM Digital Solutions Corporation
7.1.8 Sigma Corporation
7.1.9 Leica Camera AG
7.1.10 Victor Hasselblad AB
- *List Not Exhaustive
7.2 Vendor Market Share Analysis
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Digital Camera Industry Segmentation
A digital camera records images in an electronic memory. Most cameras produced today are digital, largely replacing those that capture images on photographic films.
The digital camera market is segmented by lens type (built-in and interchangeable), camera type (compact digital camera, DSLR, and mirrorless), end user (pro photographers, prosumers, and hobbyists), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The report offers the market size and forecasts for all the above segments in value (USD).
| By Lens Type | |
| Built-in | |
| Interchangeable |
| By Camera Type | |
| Compact Digital Camera | |
| DSLR | |
| Mirrorless |
| By End User | |
| Pro Photographers | |
| Prosumers | |
| Hobbyists |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Digital Camera Market Research FAQs
How big is the Digital Camera Market?
The Digital Camera Market size is expected to reach USD 5.39 billion in 2024 and grow at a CAGR of 4.85% to reach USD 6.83 billion by 2029.
What is the current Digital Camera Market size?
In 2024, the Digital Camera Market size is expected to reach USD 5.39 billion.
Who are the key players in Digital Camera Market?
Nikon Corporation, Canon, Inc. , Panasonic Corporation, Sony Corporation and Fujifilm Holdings Corporation are the major companies operating in the Digital Camera Market.
Which is the fastest growing region in Digital Camera Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Digital Camera Market?
In 2024, the North America accounts for the largest market share in Digital Camera Market.
What years does this Digital Camera Market cover, and what was the market size in 2023?
In 2023, the Digital Camera Market size was estimated at USD 5.13 billion. The report covers the Digital Camera Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Digital Camera Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the growth opportunities in the Digital Camera Market?
The growth opportunities for the Digital Camera Market are: a) Rising demand for mirrorless cameras b) Growing trend of photography as a hobby c) Increasing use of cameras in various industries
What are the key drivers of the Digital Camera Market?
Key factors driving the Digital Camera Market are: a) Continuous advancements in technology b) Increasing demand for high-quality imaging devices c) Rising popularity of photography among consumers
Digital Camera Industry Report
The digital camera market is undergoing a significant transformation, fueled by advancements in digital camera technology and evolving consumer preferences. Manufacturers are innovating to meet the demand for lightweight, high-resolution cameras, focusing on enhancing lens types, sensing technology, and applications for both personal and professional use. The shift towards single-reflex and interchangeable lens cameras, known for their versatility and superior image quality, is notable. The integration of Complementary Metal-Oxide-Semiconductor (CMOS) technology has been key in achieving faster processing speeds and improved sensitivity, propelling market growth. Digital cameras find diverse utility across industries such as sports media, healthcare, and film production, despite competition from alternative imaging devices. The continuous technological upgrades and the development of Internet of Things (IoT)-enabled devices signal a promising future for the market, particularly in professional settings and the travel and tourism sector. According to Mordor Intelligence™ Industry Reports, the digital camera market's share, size, and revenue growth are comprehensively analyzed, offering a forecast outlook and historical overview. For detailed insights, a free report PDF download is available, highlighting the pivotal role of digital camera technology and manufacturers in shaping the market's trajectory.
