Increasing demand for high-end digital single-lens reflex (DSLR) and action cameras for professional photography and vlogging is driving market revenue growth
The cameras and accessories market size was USD 3.04 Billion in 2021 and is expected to register a revenue CAGR of 13.1% over the forecast period, according to a latest report by Reports and Data. Vlogging and content creation are gaining popularity as a trend and generating a number of opportunities for camera and accessories manufacturers. For instance, market leaders of digital camera manufacturers such as Sony, Canon, Nikon, DJI, and several other makers are developing cameras especially for creating cinematic content. Companies are launching their product, which is powered by remote control tripod and built-in microphone for capturing every special moment with one single button. These new innovations are driving revenue growth of the market.
Content creators and photographers are buying mirrorless cameras for making ultra-HD or 4K movie-like quality, with compact size and weight, and better autofocus functionality. Also, these cameras are designed to meet the reliability and durability demands of professionals, even when working in the most potentially challenging conditions. These factors are driving revenue growth of the market. Moreover, accessory kits such as lenses, ring light, flexible tripod, gorilla pod, and audio interface are becoming necessary tools in making creative content, which is driving revenue growth of the camera & accessories market.
Companies profiled in the market report are Canon Inc., Nikon Corporation, Sony Corporation, FUJIFILM Corporation, Leica Camera AG, Hasselblad, Olympus Corporation, Panasonic Holdings Corporation, GoPro Inc., DJI technology, GODOX Photo Equipment Co., Ltd., Videndum Media Solutions, Vanguard Group, Inc., and Western Digital Corporation.
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Some Key Highlights From the Report
- The digital still camera segment accounted for the largest revenue share in 2021. Digital still camera is frequently bought by consumers for capturing high-quality photographs with better shutter and aperture control. A Digital Single Lens Reflex (DSLR) camera is an ideal device for capturing professional photography and a DSLR camera allows photographers to experiment with functionalities such as ISO, RAW, aperture priority, High Dynamic Range (HDR), and autofocus. Whereas, a mirrorless camera allows photo enthusiasts to capture detailed and sharp cinematic shots with the advantage of APS-C sensor technology. Moreover, action cameras are a popular segment for taking breathtaking actions and adventure shoots. Action cameras come with waterproof and shockproof resistant feature; therefore, a large number of adventure enthusiasts buy action cameras for use in extreme environments.
- The standard lens segment accounted for larger revenue share in 2021. A standard lens is a built-in standard kit. It is ideal for focusing attention on the subject and shooting candid photos. Wide angle lens is a promising segment in elevating revenue growth of the market. Many photographers own wide angle lenses for capturing wide angle and full-frame sharp shots. Whereas, macro and telephoto lenses are widely adopted for taking incredibly depth and close-up photos. A macro and telephoto lens has excellent functionality in bokeh and portrait shots.
- The tripod segment accounted for the largest revenue share in 2021. Tripod is one of the most sold accessories with a camera for providing it with secure and stable support. Tripod allows photographers to capture images with slower shutter speeds. Effects such as long exposures, traffic trails, and smooth panning require rock-solid support of a tripod and a large number of professional photographers buy tripods. Flash and lights enhance creativity with lighting and a large number of companies are cross selling flash lights with their products, which is driving revenue growth of the segment. Moreover, the gimble segment is growing drastically among photographers and content creators for mechanical stabilize cinematic footage without the need for a larger tripod. Additionally, the requirement for polarizing filters, memory cards, chargers, batteries, and camera neck trap is increasing with rising demand for various types of cameras.
- North America accounted for largest revenue share in 2021. Technological advancement in Image Signal Processor (ISP), internet penetration growth rate, and strong video streaming demand across the region are driving revenue growth of the market. According to the World Bank, 91% of the American population is using the Internet. Digital camera demand in the U.S. has increased drastically owing to instance diversified needs from amateurs to professional photographers. Photography communities such as the Photographic Society of America (PSA), Chicago Area Camera Club Association (CACCA), and several other photography clubs are empowering the cameras & accessories market by setting global standards of photography exhibition. Moreover, cameras and accessories manufacturers are showcasing new innovations in cameras, accessories, and versatile functionalities in events such as the Consumer Electronics Show (CES) by the Consumer Technology Association, which is further expected to support revenue growth of the market in the region.
- On 2 July 2021, DJI, which is a China-based technology company, launched pocket 2 compact camera especially for vlogging and casual filmmaking. Pocket 2 product is powered by a 64MP camera, wireless mic, wider ISO range, slow-motion Full HD capture with a smartphone-style sensor. This super compact DJI pocket 2 will also feature a 3-axis gimbal, a larger battery life, and a 1-inch screen.
For the purpose of this report, Reports and Data has segmented the cameras and accessories market based on camera type, lens type, accessory type, end use, and region:
Camera Type Outlook (Revenue, USD Billion; 2019-2030)
- Digital still camera
- Digital single lens reflex (DSLR) camera
- Mirrorless camera
- Action camera
- Bridge camera
- Instant camera
- Camcorder
- Others
Lens Type Outlook (Revenue, USD Billion; 2019-2030)
- Standard
- Wide angle
- Macro
- Telephoto
- Prime lens
- Zoom lens
- Tilt-shift lens
Accessory Type Outlook (Revenue, USD Billion; 2019-2030)
- Tripod
- Flash and lights
- Gimble
- Remote shutter release
- Polarizing filter
- Memory card
- Charger
- Battery
- Camera neck strap
- Others
End use Outlook (Revenue, USD Billion; 2019-2030)
- Personal
- Professional
- Vlogging
- Film Making
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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