The digital camera market is expected to witness a CAGR of (2)% over the forecast period (2019-2025).

  • According to the Camera & Imaging Products Association (CIPA), digital camera sales declined from January 2019 and had substantially decreased compared with February 2018. February 2018 has witnessed 1,340,995 unit sales, while in January 2019, it declined and went up to 935,148 units only.
  • Also, the digital camera market expected to witnesses a declining demand throughout the forecast period, primarily due to the decline in volume sales contribution from the major players such as Nikon Corporation, Sony Corporation, which are the most significant market players in the digital camera market.
  • However, rising photography trend has one of the significant factors that is keeping the demand for digital cameras. Along with this, the improvements in product design coupled with the enhancement of the pixel range are few factors that are keeping the need for digital cameras.
  • For instance, Panasonic Corporation is expected to launch Panasonic GX10 during the first half of 2020. This camera has a 20.3MP sensor, 4K video recording, and 5-axis Dual Image Stabilization. It also has a 3in tilting touchscreen LCD screen, Wi-Fi and Bluetooth.



Key Market Trends

Surging Smartphone Camera Technology is Hampering the Market Growth

  • Smartphone cameras are still far more digital cameras but simple camera interface, bolstered by features such as ’swipe to change the exposure,’ make smartphone photography an extremely enticing option.
  • Also, these high-quality compact cameras in smartphones are connected to the Internet. And this became very convenient for the users to share those pictures on social media instantly.
  • The smartphone camera is evolving at a higher rate, and companies such as Oneplus, Samsung, Apple is investing a huge amount of money in research and development for different camera technology.
  • For instance, after a 108MP camera sensor, Samsung is speculated to work on a whopping 144MP camera sensor using the 14nm FinFET process. Samsung will use its 108MP camera sensor on the Galaxy S11, which is expected to launch in February 2020.
  • Also, Qualcomm’s Snapdragon 865 chip, which is expected to power the majority of 2020’s flagship smartphones, launched a vastly more powerful image signal processor (ISP) to support high bandwidth use cases such as 960 frames per second slow motion and 8K video recording.
  • Therefore, these factors are expected to restrain the market growth of the digital camera during the forecast period.



Asia-Pacific to Witness Fastest Growth

  • One of the major factors that are driving the demand for digital cameras is the rising trend of photography in the region. Also, photography has become user-friendly and affordable, which has supported the demand for digital cameras in the region.
  • Further, rising disposable income in the region, along with the passion for photography, is expected to have a positive outlook on the market.
  • Also, conferences such as the International Camera Fair will be organized in India during April 2020, which is dedicated to Cameras, Lens, and Imaging Accessories. Such conferences are expected to drive the digital camera market.



Competitive Landscape

The digital camera market is highly competitive due to the presence of players such as Nikon Corporation, Sony Corporation, and Canon Inc, amongst others. Although the market is facing huge competition from the smartphone market, the players in the market are focusing on product launches to target niche customer base. Few recent developments are:

  • January 2020 - Fujifilm has launched a digital camera in its X-T mirrorless camera systems. The Fujifilm XT-200 weighs around 370 grams for the body alone. The camera is being pitched as an upgrade for those who use smartphones as their primary camera. Fujifilm XT-200 also supports 4K video recording at 30 frames per second.
  • January 2020 - Nikon launched FX-format D780. It features an FX-format (35.9 x 23.9 mm) 24.5-megapixel BSI CMOS sensor and Expeed 6 image processor for seven frames per second continuous shooting through the viewfinder or up to 12 fps in Live View, and light sensitivity of ISO100-51,200 (which can expand to ISO204,800).



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