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Digital Camera Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027) – Yahoo Finance

Cameras

NEW YORK, Nov. 18, 2022 /PRNewswire/ — The digital camera market is expected to witness a CAGR of less than 11.2 % over the forecast period.

Read the full report: https://www.reportlinker.com/p06363562/?utm_source=PRN

Key Highlights
The global digital camera market growth rate is expected to decline over the forecasted period, owing to shifting consumer preference toward smartphone cameras. Global digital camera shipments have been declining in sales in the last decade. Most of the major digital camera manufacturers have also recorded a decline in fluctuating sales in the past few years.
However, the recent technological advancements and the growing number of digital photography and social media platforms have created new hope for the studied market vendors. The primary reason is that multiple product launches with feature upgrades and newer payment methods like camera services are expected to aid the growth globally in recent years. Major players like Nikon, Sony, Canon, and Fujifilm are innovating in the field of mirrorless cameras and are highly optimistic about their adoption.
Also, many of these companies have started targeting emerging countries, like India, due to growing investment in the photography market by these regions. According to UNCTAD’s 2019 research, developed countries, like the United States and the United Kingdom, account for 91% of global exports of digitizable products. In comparison, the tariff structures of developing countries are higher. The custom duties charges are leading to further higher tariff revenue loss for countries like Brazil and Argentina.
According to the industry expert, Smartphone cameras are not meant to replace the higher-end DSLR and mirrorless cameras. While smartphone cameras have more features that use AI and computational photography techniques, they still lack quality. Hence, the commercial photography market will always depend on digital cameras. However, increased digital camera prices are also expected to affect the studied market negatively.
The market has witnessed various product innovations and development in the past few months. For instance, In September 2021, FUJIFILM Corporation announced the launch of “FUJIFILM X-T30 II”(X-T30 II) late September 2021. It is a new addition to the X Series of mirrorless digital cameras known for their compact, lightweight body and superior image quality based on the company’s proprietary color reproduction technology.
Furthermore, in February 2022, Canon announced the EOS R5 C digital camera, aimed at professionals who want high-performance video and still capture. The EOS R5 C has a lightweight and compact body that weighs approximately 680g and can shoot 8K RAW video.
In September 2022, the FUJINON GF20-35mmF4 R WR lens (GF20-35mmF4 R WR), a tiny and lightweight ultra wide-angle (UWA) zoom lens for …….

Source: https://news.google.com/__i/rss/rd/articles/CBMiUWh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9kaWdpdGFsLWNhbWVyYS1tYXJrZXQtZ3Jvd3RoLXRyZW5kcy0xMzQwMDAxOTAuaHRtbNIBWWh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vYW1waHRtbC9uZXdzL2RpZ2l0YWwtY2FtZXJhLW1hcmtldC1ncm93dGgtdHJlbmRzLTEzNDAwMDE5MC5odG1s?oc=5

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