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

The digital camera market in SAM is expected to grow from US$ 575.72 million in 2021 to US$ 761.34 million by 2028; it is estimated to grow at a CAGR of 4.1% from 2021 to 2028.

Technological advancement 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. To compete with the innovations in smartphones market, the digital camera manufacturers have come up with installation of multiple cameras. The development of multiple cameras that supports AR/VR photography and video is also considered one of the lucrative technological advancements in present scenario. The use of multiple cameras has been extended to map the surrounding and create better data to process depth. Hence, the changing dynamics of digital cameras coupled with consumer inclination toward advanced-level photography are expected to create massive opportunities for market growth. The growth of the market is expected to be supported by advanced vision and imaging endorsed by incorporation of autonomous systems. Moreover, the development of multi and hyperspectral cameras along with miniaturizing of pixels in future, which may create additional stress on the optics in next generation systems, to improve quality and performance of the lens would pave way for market growth.

Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others.The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread.

The governments of various countries in South America are taking several initiatives to protect people and to contain COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions.The growing population, rising disposable income, and high demand of consumer electronics are some of the key factors that are expected to drive the demand of digital cameras in this region.

Hence, the negative impact of COVID-19 on supply and demand of various products and services as well as on the businesses operating in the region is expected to affect the growth of digital camera market in 2020.

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

DSLR cameras are the most versatile, high-end, and advanced type cameras.Theses cameras use single-lens reflex method.

They consist of a mirror, which reflects the light passing through the lens.DSLR cameras are mostly large.

These cameras are mainly used by professional photographers or videographers for commercial purposes. Automatic mode and changeable camera lens to fit different situations are the important feature of DSLR cameras. These cameras also allow the user to use a variety of zoom lenses with different zoom ranges. They give better image quality even at low light in comparison with other types. They are widely used because of advanced sensors, manual camera settings, and interchangeable lenses. However, DSLR cameras are bulky and quite expensive. The DSLR camera market has a drastic decline. The development of DSLR cameras seems to have reached its maximum potential. These cameras have already hit the innovation wall, so many key players are concentrating on mirrorless cameras. They have shifted their R&D resources toward mirrorless cameras. However, DSLR camera manufacturers are now focusing on integrating software enhancements and other technologies in these cameras for enhanced consumer experience, this factor is expected to drive the demand in the coming years.

The overall SAM 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 SAM 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 SAM 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 SAM digital camera market.