Global Digital Camera Market Report and Forecast 2022-2027
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According to the report by Our Research, the global Digital Camera Market attained a value of USD 7196.6 million in 2021. Aided by the growing expansion of end-use industries such as journalism, photography, and advertising, among others, the market is projected to further grow at a CAGR of 4.6% between 2022 and 2027 to reach a value of USD 9784.9 million by 2027.
Digital camera is defined as an electronic equipment which captures the image of an object or a scene and stores it in a memory card. The image captured by a digital camera is clear and focused as the picturisation process in this device is much more enhanced than the analogue camera. The image capturing technology of digital cameras is quick and it enables the users to edit or mould photographs to make it look more attractive and aesthetic, which are the major advantages of the product driving the digital camera market growth.
The increasing adoption of digital devices such as smartphones, tablets, and laptops, among others, is driving the demand for digital cameras owing to high compatibility between these devices. Digital cameras allow the users to transfer a picture to smart devices using USB cables, which makes it easier to upload photos or videos on email or a website.
Over the forecast period, the anticipated increase in demand for digital cameras to upload high quality images for websites owned by various businesses is likely to increase the sale of digital cameras.
The increasing presence of youth on social media platforms, such as Twitter and Instagram, is propelling the enthusiasm to adopt digital cameras. This factor is fuelling the digital camera market revenue.
The rising demand for high-quality digital cameras, such as Nikon D5, Nikon D810, and Canon EOS5 D Mark III, among others, owing to their photo quality features are adding to the market growth. These digital cameras are also a popular choice among photojournalists. In this regard, the thriving journalism industry is further propelling the demand for DSLR cameras.
Over the forecast period, the rapid technological advancements in the digital cameras, which include the induction of LCD and LED screens, expanded storage, compact size, and increase in battery duration, are anticipated to positively navigate the digital camera market dynamics.
Moreover, the market is anticipated to be aided by the increasing application of digital single lens reflex cameras in various end-use industries where photography is integral. Industries such as marketing and advertising are witnessing an escalated demand for digital single lens reflex cameras, owing to the product’s superior image quality, enhanced shutter speed, prolonged battery life, and easy customisation, among others.
In terms of region, North America accounts for a significant share in the market owing to the strong foothold of major digital camera manufacturing companies and growing expansion of the end-use industries. The augmented supply-demand chain due to flexibility of import and export is another crucial factor driving the digital camera market.
Moreover, the thriving e-commerce industry is propelling the sale of digital cameras across Asia Pacific, Europe, Middle East and Africa.
Our Research report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the key players in the digital camera market. Some of the major key players explored in the report by Our Research are as follows:
*We at Our Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
Browse our full report with Table of Content : https://www.bharatbook.com/report/1372575/global-digital-camera-market-report-and-forecast
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