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Asia Pacific Digital Camera Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and End user

Asia Pacific Digital Camera Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and End user

  • August 2021
  • 95 pages
  • ID: 6134226
  • Format: PDF
  • The Insight Partners

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The digital camera market in APAC is expected to grow from US$ 2,950.78 million in 2021 to US$ 4,725.49 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028.

Technological innovations associated with digital cameras is also bolstering the growth of the industry.The framework of digital camera market is closely associated with emerging radical trends backed with innovative technological developments and robust advancements, such as HD and touch screen.

Since a long time, the market has observed a higher demand for digital single-lens reflex camera and SLR camera market owing to growing consumer inclination toward advanced photography.However, the advancement of technology has resulted in creation of high-resolution cameras, which provides 12–20 megapixels.

The continuous evolution in the field of digital cameras has resulted in designing advanced cameras with better resolution, faster focusing, and support to different peripherals.Also, an increase in trend to incorporate a Wi-Fi or 4G modem in digital cameras have also been observed to provide competitive edge over smartphones.

Moreover, such cameras are foreseen to be a part of several interconnected devices, such as IoT (Internet-of-Things), which could facilitate effective communication with other interconnected devices such as smartphones and speaker assistants in near future. The integration of advanced AI and computational imaging with digital camera is perceived to enhance the low light photography with properties such as Google’s Night Sight and Apple’s Night Mode. For instance, Sony has designed A9 mirrorless camera with Real-time Tracking11 and Real-time Eye AF. Following the legacy, the other camera makers such as Canon and Nikon are also focused toward integrating AI in digital cameras. Also, the advent of smart camera assistants such as Arsenal have demonstrated the way toward AI-enabled features, which could promote the overall photography experience. Additionally, the far-sighted reality of capturing images and videos at night, have now been on par with advanced digital cameras, and is expected to proliferate the growth of the digital camera market.

The COVID-19 is anticipated to cause a significant economic loss in the Asia Pacific region.The consequence and impact can be even worse and totally depends on the spread of the virus.

The governments of various Asia Pacific countries are taking possible steps to restrict the spread of the virus by announcing lockdown, which in turn has negatively impacted the revenue generated by the digital camera market.The ongoing COVID-19 is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific.

For instance, China is the global manufacturing hub for various industries and the largest raw material supplier.However, after a strict two-month lockdown especially in Wuhan area, China is now relaxing restrictions as the number of new cases have dropped drastically in past month (<10 cases/ day) and factories have started with preventive measures in place, especially in the crucial consumer electronics sector.

However, the uncertainty regarding the future outbreak especially in countries such as India and A few other Asian countries, where the graph is going upward may affect the growth of digital camera market in coming quarters. The disruptions in the demand for tourism activities, film shootings, and other type of gatherings have been impacted due to social distancing norms and restrictions may further affect the demand in Asian countries.

The mirrorless cameras segment led the digital camera market based on type in 2020.Mirrorless cameras are becoming increasingly popular in the market, and their popularity is expected to expand as the technology advances.

Mirrorless cameras are a lighter, simpler, and more compact alternative to the DSLR cameras.Mirrorless cameras are the latest in professional cameras.

These cameras provide incredible quality images and videos.They use high-speed shutters so they can capture more frames per second (fps).

They consist of electronic viewfinder, and do not have a flicking mirror. Just like DSLR cameras, mirrorless cameras have interchangeable lenses. Mirrorless cameras also feature better lenses for capturing photographs at various focal lengths, allowing for amazing photographs from various angles of view and improved zoom capabilities. However, they have a shorter battery life. There is a plenty of room for real innovation in mirrorless technology. The advances in sensor technology and computational imaging can bring smartphone cameras closer to the quality of mirrorless cameras, which ultimately drives the digital camera market.

The overall APAC digital camera market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the APAC digital camera market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC digital camera market. Canon Inc; Eastman Kodak Company; FUJIFILM Holdings Corporation; Hasselblad; Leica Camera AG; Nikon Corporation; OM Digital Solutions Corporation; Panasonic Corporation; RICOH IMAGING COMPANY, LTD.; and Sony Corporation are among the leading companies in the APAC digital camera market.

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