Digital Camera Market Analysis Report By Product And Segment Forecasts From 2013 To 2020

Industry Insights

This report is based on the analysis of the digital camera market. It does not include tablets and smartphones equipped with digital cameras. The growing trend of posting pictures on several social media platforms such as Facebook, Instagram, Twitter, and others is driving the market growth. Moreover, various photo editing tools such as Adobe Photoshop are gaining high popularity due to the rising popularity of digital cameras across the globe.

In developing countries such as Brazil and India, the product penetration is low. Therefore, such regions are potential markets with high growth opportunities owing to the presence of people willing to spend more on digital cameras. Moreover, Europe and North America are anticipated to grow significantly owing to rising demand for replacing the old products with their upgraded versions. In addition, factors such as rising disposable income levels of consumers and rising demand for technologically advanced and expensive digital cameras are projected to contribute to the market growth from 2013 to 2020.

However, the rising demand for smartphones equipped with high-resolution digital cameras is one of the factors restraining the market growth. This has adversely affected the demand for the shoot and compact point cameras. Moreover, the easy accessibility of smartphones to capture images is expected to be one of the major threats to the growth of the digital camera industry. 

Product Segment Insights

Based on the product, the digital camera market is segmented into interchangeable lens and built-in lens digital cameras. The interchangeable lens camera segment is further divided into non-reflex and DSLR cameras. In 2012, the built-in lens camera segment accounted for 78.5% of the overall market share in terms of unit shipments. The demand for built-in lens digital cameras is projected to remain idle owing to the rising adoption of smartphones for capturing photos. The segment’s unit shipments are projected to account for 128 million units by the end of 2020. The market share for this segment is anticipated to decline from 2013 to 2020 owing to the rising adoption of smartphones that offer internet connection which enables uploading of photographs on social media platforms.

In 2012, the segment of DSLR cameras held a market share of 17.2% in terms of unit shipments. The interchangeable lens camera segment is projected to attain a significant share in the global market from 2013 to 2020 owing to rising consumer expenditure on DSLRs and mirrorless cameras, especially in developed nations. In 2012, the interchangeable-lens camera segment accounted for a revenue of USD 7,533.6 million. Factors such as compactness, efficiency, and convenience are projected to proliferate the demand for mirrorless cameras from 2013 to 2020.

Key market players are focusing on developing cameras with Bluetooth and Wi-Fi connectivity features. Moreover, they are also focusing on product innovation and differentiation to target the segment of professional or experienced photographers who are dependent on the superior quality of the image to be captured while moving and still photography. Furthermore, these players are offering a package of cameras and their accessories at discounted price which is anticipated to propel the product demand over the forecast period.

Regional Insights

For the past few years, North America has been dominating the market. However, maturity of ownership penetration in European and North American countries such as Germany, France, the U.K., and the U.S. is one of the major reasons for the decline in demand from first-time digital camera buyers. In addition, economic disturbance in Europe has adversely affected the demand for digital cameras and other such consumer goods. Therefore, such markets are anticipated to be proliferated by demand for replacing the existing cameras with new and upgraded devices.

In 2020, the digital cameras market in North America is projected to attain 37,488.2 thousand units in terms of unit shipments. It is projected to attain a CAGR of 6.1% over the forecast period. Moreover, in 2012, U.S. held the largest share of more than 80% in North America in terms of unit shipments. Furthermore, in 2012, Germany held the largest market share in Europe accounting for sales of 8.8 million units.

In 2012, Asia Pacific held a significant share of more than 33% in terms of unit shipments. Factors such as rising disposable income levels of people residing in countries such as India, Japan, and China and low penetration of the product in this region are anticipated to impact positively on the growth of the regional market. In addition, there is a wide scope for the penetration of digital cameras in Latin America, especially in Brazil. Therefore, this region is projected to open ample opportunities for key players' operations in this industry.

Competitive Insights

Leading players in the digital camera industry include Canon Inc., Nikon Corporation, Sony Corporation, Samsung Electronics Co., Ltd., Panasonic Corporation, Seiko Epson Corporation, Carl Zeiss AG, Ricoh Imaging Company, Olympus Corporation, Hewlett-Packard, and Fujifilm Holdings Corporation. Japanese companies have been dominating the global digital camera industry and the market is centralized in nature. The key players are focusing on improving the product by analyzing the feedbacks of consumers and they are investing in developing advanced cameras with Bluetooth and Wi-Fi connectivity features. Moreover, these players are focusing on brand reinforcement to increase their product penetration and gain an edge over other competitors. 

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2012 to 2020. For the purpose of this study, Million Insights has segmented the global digital camera market report on the basis of product segment and region:

• Product Outlook (Volume, Thousand Units, Revenue, USD Million, 2012 - 2020)
    • Built-in Lens Camera
    • Interchangeable Lens Camera
        • Digital Single Lens Reflex (DSLR)
        • Non-Reflex

• Regional Outlook (Volume, Thousand Units, Revenue, USD Million, 2012 - 2020)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • France
        • Germany
        • Russia
    • the Asia Pacific
        • India
        • China
        • Japan
    • Rest of World (RoW)