Digital Camera Industry Overview, Sales Revenue, Demand and Forecast by 2024

NEW YORK - Dec. 9, 2019 - PRLog -- According to the latest report by IMARC Group, titled "Digital Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global digital camera market reached a value of US$ 16.6 Billion in 2018. A digital camera is a multimedia device that uses an electronic image sensor to store photographs or videos in the digital format. It consists of a lens and a variable diaphragm that are used to adjust electronic image sensor lighting and viewfinder screen which helps in displaying the image or video captured. Unlike a film camera, the images or videos captured by a digital camera can be viewed instantly. It also supports basic image editing functions such as cropping and related image enhancement features. Additional features like auto-focus, best-shot selector, altering ISO and AWB, burst shots, shutter speed and digital zoom are standard features found in these devices.

Market Trends:

The increasing penetration rate of smartphones among consumers across the globe is one of the key factors negatively influencing the market growth. Innovative variants of smartphones are being launched at a rapid pace that offer new and better features, of which in-built cameras form an integral part. Significant research and development (R&D) go behind making these cameras more innovative and powerful with advanced characteristics. Unlike digital cameras, smartphones also offer accessibility to the Internet which allows smooth and quick transfer of multimedia files, thus significantly saving time and providing a hassle-free experience to users. Also, these cameras are more expensive and bulkier when compared with smartphones, which further hinders the growth of the market. Apart from this, consumers are no longer keen to invest in new models of digital cameras. This can be accredited to the lack of technological innovations by manufacturers and the emergence of the affordable rental system in the market. On account of these restraints, the global digital camera market size is expected to reach US$ 7.9 Billion by 2024.

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Insights on Market Segmentation:

Market Breakup by Type:

1. Interchangeable Lens Cameras

2. Built-in Lens Cameras

Regional Insights:

1. Asia Pacific

2. Europe

3. North America

4. Middle East and Africa

5. Latin America

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Imports and Exports

1. Imports by Major Countries

2. Exports by Major Countries

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