Digital Camera Market Growth & Trends

The global digital camera market size is expected to reach USD 10.25 billion by 2030, registering a CAGR of 4.8%, according to a new study by Grand View Research, Inc. Growing demand for interchangeable lens cameras with higher selling prices is expected to fuel industry growth over the forecast period. These include digital single lens reflex cameras (DSLR) as well as non-reflex cameras, also referred to as mirrorless cameras. Increasing replacement demand coupled with technological enhancements such as Wi-Fi-enabled cameras is expected to favorably impact the market.

The trend of sharing images over the internet and availability of image processing tools has given impetus to the market. Widespread adoption of internet services and surge in social networking activities is expected to further bolster industry outlook. However, proliferation of smartphones globally is a major concern for industry participants, on account of the ready availability and convenience offered by smartphone cameras. The value chain consists of manufacturers of digital cameras and associated parts, as well as retailers or distributors.

Digital Camera Market Report Highlights

  • The interchangeable lens segment is expected to experience the fastest CAGR of 6.0% during the forecast period. A growth in inclination towards adopting DSLR and mirrorless cameras has primarily driven this market in the recent past.
  • The mirrorless segment accounted for the largest revenue share in 2023. The growth is attributed to the high-speed image-capturing technology compared to the DSLRs (Digital Single-Lens Reflex).
  • The pro photographers segment accounted for the largest revenue share in 2023. Numerous professional photographers prefer using mirrorless cameras due to the smaller product size, autofocus features, and lighter weight.