The global digital camera market to generate revenues of USD 4.93 during the forecast period of 2016-2020.
Global Digital Camera Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A trend which has helped to boost market growth tremendously and will continue to do so is the availability of digital cameras with high-end features. As the sales of the global digital camera market have declined gradually, vendors are continuously investing in R&D to improve sales. They have introduced digital cameras with advanced features to attract a large number of individuals.
To recover the sales of point-and-shoot cameras, which are affected by high-end smartphones, camera vendors have introduced new features like in-built Wi-Fi, Bluetooth, 3G SIM card slots, direct interface to social networking sites and email, smartphone and tablet-style touch screen interfaces, and Android operating systems to run different applications on digital cameras.
According to the report, a growth driver is also the decline in the price of low-end digital cameras. Digital cameras were introduced in the market in 2003. Since then, the market has been experiencing a steady decrease in the price of digital cameras.
As the purchasing power of consumers reduced due to recession in the US, vendors introduced less expensive low-end digital cameras into the market. Low-cost digital cameras were introduced primarily to penetrate the developing countries, where the purchasing power of consumers was low compared to the purchasing power of consumers in developed nations.
Further, the report states that one challenge which could hamper market growth is the improved quality of cameras in smart phones.
To calculate the market size, the report considers the revenue generated from the sales of digital cameras that include:
- Interchangeable lens cameras including digital single lens reflex (DSLR) cameras and non-reflex cameras or mirrorless interchangeable lens cameras (MILCs)