Increasing replacement demand coupled with technological enhancements such as Wi-Fi-enabled cameras is expected to favorably impact the market.
San Francisco, California (PRWEB) August 28, 2014
The global market for digital cameras is expected to reach USD 19.77 billion by 2020, 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.
The report, “Digital Camera Industry Trends and Market Segment Forecasts to 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/digital-camera-industry.
Request free sample of this report at http://www.grandviewresearch.com/industry-analysis/digital-camera-industry/request.
Further key findings from the study suggest:
Global digital camera unit shipments were estimated to be 98.6 million units in 2012, and is expected to reach 171.7 million units by 2020.
Built-in lens cameras accounted for over 78% of the overall shipments in 2012. Interchangeable lens cameras contributed to over 50% of the market revenue in 2012, which can primarily be attributed to higher selling prices of these products. Digital Single Lens Reflex (DSLR) cameras occupied over 80% of the market in 2012; however, they are expected to lose market share with an estimated CAGR of 3.8% from 2013 to 2020.
Asia Pacific is expected to be the largest and fastest growing regional segment, and is estimated to grow at a CAGR of 8.1% over the forecast period to account for approximately 36% of the global market by 2020. This can primarily be attributed to rising purchasing power and relatively lower product penetration. Compact cameras with built-in lenses accounted for over 75% of regional shipments. Mirrorless cameras are also compact in nature as compared to DSLRs, and have been witnessing growth in countries such as Japan and China.
The market is dominated by Japanese participants Canon Inc. and Nikon Corporation account for the majority of the overall market share. Key players also include Sony Corporation, Samsung Electronics Corporation, Fujifilm Holdings, the Olympus Corporation, and Ricoh Imaging Company among others. Manufacturers have been focusing on the high-end product segment in order to stay competitive in an ecosystem characterized by changing user trends.
Browse all reports of this category by Grand View Research at http://www.grandviewresearch.com/industry/digital-media.
For the purpose of this study, Grand View Research has segmented the global digital camera market on the basis of product segments and region:
Digital Camera Product Segment Outlook,
Built-in Lens Camera
Interchangeable Lens Camera
Digital Single Lens Reflex (DSLR)
Digital Camera Regional Outlook,
Rest of the World
Browse all ongoing reports by Grand View Research at http://www.grandviewresearch.com/ongoing-reports.
About Grand View Research:
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519
Related Reports by Grand View Research
Outsourced Customer Care Services Market Analysis and Segment Forecasts to 2020 – http://www.grandviewresearch.com/industry-analysis/outsourced-customer-care-services-market
The global market for outsourced customer care services is expected to reach USD 84.73 billion by 2020, according to a new study by Grand View Research, Inc. Transition towards host-based or cloud-based services is expected to benefit small and medium businesses (SMBs) and aid in penetrating emerging markets.