The rise in the trend of taking photos has led to the popularity of demand for digital cameras globally. Market reports connected with the information and communications technology industry have been made accessible by Market Research Future who publishes reports on other sectors that have been recently put out along with a report on this industry. The market is estimated to earn takings worth USD 5.1 billion while expanding at a CAGR of 7.1% in the duration of the forecast period.
The need for making photos economical is one of the key factors influencing the growth of the market. Trends related to lenses and photo accessories are also found to be playing an intrinsic goal in the development of the market. Features such as high definition quality cameras and touch screens will reinforce market growth over the upcoming forecast period.
The Digital Camera Market globally has been segmented on the basis of digital sensor type, components, product type, application, and geography. The product types segment of the market is segmented into bridge camera, digital single-lens reflex (DSLR), digital rangefinders, built-in lens, compact digital cameras and non-reflex. On the basis of digital sensor types, the market is segmented into CMOS sensor, Foveon X3 sensor, CCD sensor, and LiveMOS sensor.
On the basis of components, the market is segmented into sensors, LCD screen, lenses, memory card and among others. While, by application, the market is segmented into commercial and residential. The region-based segmentation of the market comprises of North America, Asia Pacific, Europe, and the rest of the world.
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Detailed Regional Analysis:
The regional analysis of the market perceives that the North America region had been a dominant market previously. In the market, Europe is expected to achieve the fastest level of growth in the upcoming period. With the rise in the abundance of customers in the Asia Pacific region, the market is expected to witness additional demand for DSLR cameras, so that they back up the overall growth of the market globally.
The Asia Pacific region is the principal market for the digital cameras and is also predicted to carry on its control of the market. The Latin American market is also projected to become robust in the upcoming years as consumer demand is high for build in lens and interchangeable lens cameras.
The market is rather well defined in terms of its value and volume. The improvement in products and services is the focal factor enhancing the market’s success and swaying the trends that gain importance in the market. The significant success factors and competitors’ propensities are increasingly improving by the strategies being used by market players. The accessibility to a decent labor force along with resources is adding to the general market growth.
The external elements are influencing the market which is contingent on the practices and the strategic roadmaps that are adopted by market companies. The noteworthy players in the market are Koninklijke Philips N.V (Netherlands), Pentax Corporation (Japan), Eastman Kodak Company (U.S.), Fujifilm Holdings Corporation (Japan), Panasonic Corporation (Japan), Samsung Group (South Korea), Olympus Corporation (Japan), Sony Corporation (Japan), Nikon Corporation (Japan), Canon Inc. (Japan) among others.
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- Component manufacturer
- Camera manufacturer
- Battery manufacturer
- System integrators
- Sensors manufacturer
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