Market Trends of Photographic Services Industry
Digital Cameras to Capture High-Quality Photographs had Boosted their Overall Sales in Photography Market
A digital camera is a camera that captures photographs in digital memory. Digital cameras do not have chemical agents (film), and a liquid crystal display frequently takes the place of the viewfinder. The digital camera market includes digital photo cameras; excluded are special cameras for professional and semi-professional use (e.g., underwater and aerial cameras, drones). Some of the biggest brands in this segment are Canon, Nikon, Pentax, Olympus, and Sony. Revenue in the digital cameras segment amounted to USD 21.26 billion in 2022. The market is expected to register a CAGR of 2.40% in the upcoming years.
Editing the Photos and Videos using Smart Phone have the Major Share in Photography Industry
Smartphone users have a soft spot for photo editing apps. A photo editing app powered by artificial intelligence shouldn't come as a surprise to anyone who remembers the rapid rise and subsequent fall of FaceApp in 2019. Back then, FaceApp went viral after users all across social media shared pictures of their older or younger selves generated by the app, quickly luring millions of people to try it themselves. It seems like many smartphone users have a soft spot for photo editing apps, maybe because they appeal to people's inherent vanity. Regardless of the reasons behind it, camera and photo editing apps are among the most popular app categories.
