Digital Cameras And Camcorders Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The digital cameras and camcorders market size has grown strongly in recent years. It will grow from $9.03 billion in 2023 to $9.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to the expansion of online streaming and virtual events, increased disposable income, preferences for digital cameras and camcorders product, higher resolution sensors, and greater picture stabilization.
The digital cameras and camcorders market size is expected to see strong growth in the next few years. It will grow to $13.00 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to rise of mirrorless cameras, demand for 4k and beyond, content creation and social media, e-commerce growth, and growing consumer demand for high-quality visual content. Major trends in the forecast period include advancements in digital cameras and camcorders technology, AI-driven features, specialized content creation tools, virtual and augmented reality, and integration with smart devices.
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Scope Of Digital Cameras And Camcorders MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Digital Cameras And Camcorders Market Overview
Market Drivers –The spread of social media platforms is expected to propel the growth of the digital cameras and camcorders market. Social media platforms are online websites and applications that allow users to create, share, and interact with content and connect with other users across the internet. Social media platforms have become increasingly popular due to their capacity to promote community development, communication, connectivity, and content consumption in an era that is becoming more digitally connected. Digital cameras and camcorders enable individuals, brands, influencers, and content creators to capture high-quality photos and videos for sharing with their followers and audiences on social media platforms for branding, marketing, engagement, and revenue creation. For instance, in March 2024, according to the report published by Made in CA, a Canada-based online magazine, 33.1 million Canadians, or 91.3% of the country’s total population, were active social media users as of the start of 2023, with the majority having at least one account. Additionally, the penetration rate of social media in Canada is 91.3%. Therefore, the spread of social media platforms is driving the growth of the digital cameras and camcorders market.
Market Trends – Major companies operating in the digital cameras and camcorders market are developing innovative technological solutions, such as zoom vlogging cameras, to gain a competitive edge in the market. A zoom vlogging camera typically refers to a digital camera with zoom capabilities that is suitable for vlogging or video blogging. For instance, in September 2023, Sony Corporation, a Japan-based manufacturer of consumer electronics, launched the ZV-1 II, a zoom vlogging camera with an extremely wide angle. The ZV-1 II is an upgraded vlogging camera with improved image quality and a wider-angle lens for fascinating storytelling. It provides advanced imaging capabilities for creators of all skill levels with its 1.0-type Exmor RS image sensor, BIONZ X image processing engine, and ZEISS Vario-Sonnar T 18-50 mm F1.8-4 lens. The camera also has fast hybrid autofocus to provide a sharp focus on moving subjects and a cinematic vlog setting to achieve a filmic effect.
The digital cameras and camcorders market covered in this report is segmented –
1) By Type: Cameras, Camcorders
2) By Distribution Channel: Online, E-commerce, Websites, Company-owned websites, Offline, Retailers, Large format stores, Specialty stores
3) By Application: Amateur, Professional
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Regional Insights – North America was the largest region in the digital cameras and camcorders market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital cameras and camcorders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the digital cameras and camcorders market are Samsung Electronics Co. Ltd., Sony Corporation, Panasonic Corporation, Xiaomi Corporation, Canon Inc., Fujifilm Holdings Corporation, Olympus Corporation, Nikon Corporation, Casio Computer Co. Ltd., Zeiss Group, DJI Technology Co. Ltd., GoPro Inc., Polaroid Corporation, Leica Camera AG, Arri Group, Blackmagic Design Pty. Ltd., Ricoh Imaging Company Ltd., Sigma Corporation, Phase One A/S, Victor Hasselblad AB, Yi Technology, Lytro Inc., Insta360, JVC Kenwood Corporation, Pentax Corporation
Table of Contents 1. Executive Summary2. Digital Cameras And Camcorders Market Report Structure3. Digital Cameras And Camcorders Market Trends And Strategies4. Digital Cameras And Camcorders Market – Macro Economic Scenario5. Digital Cameras And Camcorders Market Size And Growth…..27. Digital Cameras And Camcorders Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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