Digital Camera Market Size (2024 - 2029)

Digital Camera Market Analysis

The Digital Camera Market size is estimated at USD 5.39 billion in 2024, and is expected to reach USD 6.83 billion by 2029, growing at a CAGR of 4.85% during the forecast period (2024-2029).

The market is studied based on the revenue generated from the sale of digital cameras across the world.

• The growth rate of the global digital camera market is expected to decline over the forecast period, owing to shifting consumer preference toward smartphone cameras. Global digital camera shipments have been witnessing a downfall in sales in the last decade. Most of the major digital camera manufacturers have also recorded a decline and fluctuating sales in the past few years.
• Numerous types of digital cameras were available, and the marketplace was rather crowded. However, the manufacturers, Nikon and Canon, created the full frame camera for a niche customer base that desired quicker shutters, better resolution, and more clarity. These were for professionals, such as sports and wedding photographers, who earned a living from photography, and a lousy shot could negatively affect their business.
• However, the recent advancements in technology and the growing number of digital photography platforms and social media platforms have created new opportunities for the vendors in the market studied. The numerous product launches with feature upgrades in recent years, along with newer payment methods and camera services, are expected to aid the growth of the market studied. Major players, such as Nikon, Sony, Canon, and Fujifilm, are introducing innovations in the field of mirrorless cameras and are highly optimistic about their adoption.
• The quality of smartphone cameras has improved dramatically in recent years. Most individuals no longer need to carry or purchase a dedicated camera. While photo enthusiasts and professionals are expected to obtain superior results with high-end lenses and cameras, current smartphones produce images that are certainly enough for the average consumer's needs.
• Various travel bans imposed across different countries during COVID-19 created a loss of income for professional photographers, leading to the lack of resources to purchase new models of cameras. This had decreased the demand for digital camera production. However, after the pandemic, the market is growing rapidly due to the launch of new products. This growth is further supported by the lifitng of travel bans, providing the opportunity to expand the market.

Digital Camera Industry Segmentation

The global digital camera market covers the revenue generated from the shipment value of digital cameras worldwide. The study tracks the demand for the digital camera market based on lens type, camera type, end-users, and geography. The market also covers the major micro- and macro-economic factors impacting the growth of the market studied in terms of drivers and restraints.

The scope of the study focuses on the market analysis of digital cameras worldwide. Market sizing encompasses the value of the total number of shipments globally. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, expected to support the market estimations and growth rates over the forecast period. The study further analyzes the overall impact of COVID-19 on the ecosystem. The report's scope encompasses market sizing and forecast for segmentation by lens type, camera type, end-users, and geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.