Today most industry players are not restricted to their national markets, and their increasing global footprint is bringing large investments in global market. In this scenario, it is important for global industry players to understand the global market and devise their business strategies accordingly.
Clicking pictures is something which never stops in our life. Cameras are used for professional and personal interests. Advances in technology haveenhanced the quality of cameras and also made them affordable for the end-users.
Report “Global Camera Industry Situation and Prospects Research report 2017” says the global camera industry is currently undergoing a range of revolutionary trends, pertaining to lenses, photo accessories, and other key facets. Camera manufacturing companies are constantly innovating to add new features into their products to maintain their market share and continue their market growth.
Ken Research, a market research firm has announced a report which highlights as how the increase in demand for advanced digital cameras is one of the major factors which is driving for the growth of the camera market.Technological advances have led to development of digital cameras, such as DSLRs and MILCs with high definition quality. These cameras are also compatible with a broad range of lenses having different focal lengths and resolutions, making photography a whole new experience.
The camera industry has also got boost from people pursuing occupations such as wildlife and fashion photography. Also, increase in disposable incomes and people pursuing photography as a hobby will contribute to the growing market.
Segmentation of the Camera Market by Type of Lens
The camera market is segmented by the type of lenses used in cameras. On the basis of this segmentation, there are two types of camera – interchangeable lens camera and built-in lenscamera.
Owing to their sophistication in terms of lens usage, interchangeable lens cameras are priced higher than built-in lens cameras. Theinterchangeable lens cameras are mostly preferred by professional photographers. The facility of lens replacement makes these cameras more durable. In the coming years, the interchangeable lens camera market is expected to see good growth.
Camera Market Segmentation by Region
Region-wise, the camera market is segmented into North America, Asia-Pacific, Europe, and Rest of the World. In the coming years, the US, Europe, and Asia-Pacific are predicted to dominate the global camera industry. The Asia-Pacific market is likely to grow exponentially owing to increased affluence of consumers in this region. Countries from the Asia-Pacific region such as China and India are expected to be great beneficiaries of the lucrative growth prospects of the camera industry. The growth in the camera demand in this region will also contribute to the overall growth of the global market.
Online Shopping Push for the Camera Industry
The growing popularity of online shopping is also likely to contribute to the growth of the camera industry. In line with the rapidly increasing online shopping, most camera manufacturers have started selling their products online. The online window enables retail vendors to target a wider audience without huge workforce and heavy investmentsneeded in conventional outlets.
The popular e-commerce websites such as Amazon and e-bay have made it possible for consumers to easily access prominent camera manufacturers. The consumer also enjoys the advantage of comparing various camera brands and their features using the online shopping sites.
Other factors which contribute to online sales arethe expansionof the Internet culture, marketing strategies of online retailers such as seasonal sales, year-end sales, old stock clearance offers and festival discounts.
Major Market Players in the Industry:The leading players of the camera industry are: Nikon, Samsung, Canon, Sony, Pentax, Olympus, Sigma, Minolta, Fujifilm, Kodak, JVC, and Panasonic.
The global camera industrylooks promising, with camerasbeing increasingly used in professional occupations such as wildlife photographyas well as personal use. The market drivers such as innovation in camera hardware and better technology have changed the photography experience. With more people having disposable income and the growing culture of online shopping, tremendous growth is expected in the global camera industry.
For more coverage click on the link below: https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/camera-prospects/86844-95.html
Head Marketing & Communications