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

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

  • August 2021
  • 89 pages
  • ID: 6134379
  • Format: PDF
  • The Insight Partners

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The digital camera market in North America is expected to grow from US$ 2,366.96 million in 2021 to US$ 3,391.98 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.

Growing applications of digital cameras in entertainment, media, and sports industries is also bolstering the growth of the industry.The use of digital cameras has not just been limited to personal and professional photography, but has been extended across entertainment, media, and sports industries.

The film industry is one of the largest and most lucrative categories in the entertainment industry.Rapid technological changes, consumer behavior, and business models have changed the way consumers want to experience and pay for entertainment and the media.

The leaders in this industry are concentrating on building fan-focused businesses and brands to produce outstanding content.As a result, they invest a significant amount on technologies and equipment such as computer-generated image (CGI) and visual effects (VFX), as well as advanced cameras.

Also, there is indispensable use of digital cameras in sports media. The installation of high speed and digital cameras at stadium offers spectators to see slow motion replays at critical game situations and helps obtain accuracy while watching. Similarly, the use of high-resolution digital cameras in wildlife, landscape, architecture, and studio photography helps obtain sharp and crisp images and videos. The rising focus toward action photography has subsequently promoted the demand for compact digital cameras, such as GoPro. Further, social media platforms, such as Instagram, have substantially expanded the scope for photography, which, in turn is expected to proliferate the growth of the digital camera market.

The US has the highest number of confirmed cases of COVID-19 compared to Canada and Mexico.This is negatively impacting the consumer electronics industry in the region by hampering supply and distribution chain.

The unprecedented rise in number of COVID-19 cases across the US and the subsequent lockdown of its numerous manufacturing facilities has negatively influenced the growth of the various markets including digital camera market.The decline in revenue owing to less customer demand coupled with limited production capabilities of digital cameras is affecting the growth of digital camera products in the North American region.

However, to control the spread of virus, the video shooting and the film industry is witnessing disruptions which is anticipated to affect the market growth in a negative manner, especially in 2020.

The professional segment led the digital camera market based on end user type in 2020.It includes end users who take pictures for their own enjoyment.

Digital camera is used by people on vacations to document memories.Due to modern technology, photography has become a regular everyday thing for many people.

More and more cameras are being developed by manufacturers to suit to the needs of every aspiring and photography enthusiast. Compact digital camera, zoom compact camera, and adventure camera are mainly utilized for personal use, which is ultimately drives the digital camera market.

The overall North America 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 North America 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 expert 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 North America 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 North America digital camera market.

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