Camera is an electronic gadget, used to catch and stores the pictures & video in digital structure as opposed to printing it to the film as digital camera use charged coupled device to capture the pictures. Camera has inbuilt space for memory cards that help in putting away a few hundred images, contingent upon the capacity limit. Camera encompasses focal point, body shell, viewfinder, and LCD screen and others. The camera market has foreseen to examine a critical development during the expected time frame, inferable from the way that it gives top-notch images & recordings and empowers the stockpiling of images or recordings in PC memory. These advanced cameras provide specific highlights. For example; auto-center, screen speed, absolute best selector, burst shots, computerized zoom, and altering sensor sensitivity (ISO) and advanced white balance (AWB). Rising demand for inexpensive low-power & miniaturized digital imaging systems is supporting the growth of camera sales market.
As per analysis, “Global Camera Sales Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global camera sales market include Olympus, Samsung, Minolta, Sony, Nikon, Canon, Pentax, Fujifilm, Sigma, Kodak, Panasonic, JVC and among others. The key manufacturers have been focusing on high-end product segment in order to stay the competitive in an ecosystem characterized by changing the user trends.
Based on type, camera sales market is segregated as compact system camera, bridge compact digital camera, digital sir camera, compact digital camera and others. Compact system camera segment dominates the global market owing to rise in focus toward action photography. In addition, based on application, market is segregated as commercial and household. Commercial segment is likely to exhibit considerable growth rate due to growth in adoption from various industries like entertainment, television & media and sports during the forecast period.
The camera sales market is driven by growth in demand for interchangeable lens cameras with higher selling prices, followed by surge in social networking activities, rise of digitalization & easier usage, widespread adoption of internet services, rise in consumer demand for high quality of digital imaging, and growth in technological enhancements such as Wi-Fi-enabled cameras. However, growth in trend towards camera rentals and strong competition from smart-phones with advanced features may impact the market. Moreover, growth in number of digital photography platforms and social media platforms and recent advancements in the technology are leading opportunities for market.
By geography, the Asia-Pacific is a leading region in global camera sales market owing to rise in trend of photography along with increase in purchasing power & relatively lower product penetration across the region. The North-America and Europe regions are expected to witness higher growth rate due to high adoption technologically advanced products and rise in demand for specialized products from niche customers over the forecast period. It is predicted that future of the global camera sales market will be optimistic on account of increase in sale of mirror-less lens coupled with growth in technological developments for instance HD quality cameras and automation using touch screen during the forecast period.
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Ankur Gupta, Head Marketing & Communications