Camera Technology Market Next Big Thing | Major Giants- Nikon, Sony, Softkinetic
Updated · May 08, 2023
Published Via 11Press : According to HTF MI, the Global Camera Technology Market is expected to see a growth rate of 18.5% and may see a market size of USD 74.5 Billion by 2028, currently pegged at USD 49.6 Billion.
The core of camera technology is the science and art of controlling light to create pictures. Additionally, it encompasses fields like electronics, optics, imaging sensor design, lenses, lighting, photography equipment (cameras), photographic film stock (memories), digital images, or other visual representation media that are used to make a camera obscure by projecting an image onto a screen into natural sunlight. Over the forecast period, it is expected that the growth rate of the global digital camera market will slow due to a shift in consumer preference towards smartphone cameras.
Over the past 10 years, there has been a decline in the sales of digital camera shipments. For the majority of the main digital camera manufacturers during the past few years, sales have been shifting and dropping. There were many different models available and the digital camera business was highly competitive. However, the manufacturers, Nikon and Canon, built the full-frame camera for a certain market that desired quicker shutters, better resolution, and more clarity. These were intended for experts who earned their living as photographers, such as sports and wedding photographers, for whom a subpar snapshot would be detrimental to their career.
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Camera Technology Market Key Players
Below are the most prominent enterprise Camera Technology industry players.
- Axis Communications AB (Sweden)
- Bosch Security Systems, INC. (United States)
- Flir Systems, INC. (United States)
- Infineon Technologies Ag (Germany)
- Nikon Corporation (Japan)
- Occipital INC. (United States)
- Panasonic Corporation (Japan)
- Pelco by Schneider Electric (United States)
- Primesense LTD. (Israel)
- Red Digital Cinema Camera Company (United States)
- Softkinetic (Belgium)
- Sony Corporation (Japan)
Camera Technology Market Key Business Segments
By Product Type
- Microcontroller & Microprocessor IC
By End Use Application
- Consumer Electronics
- Robotics and Gaming
- Media and Entertainment
- Defence & Aerospace
Camera Technology Market Regional Analysis
On the basis of geography, the market of Camera Technology has been broken down by
- North America [United States, Canada]
- South America [Brazil, Argentina, Chile, Colombia]
- Europe [Germany, UK, France, Switzerland, the Nordics, Benelux, Spain, Italy]
- Southeast Asia
- APAC Southeast Asia [China, Japan, India, Australia]
- MEA [South Africa, Egypt, Turkey, Saudi Arabia, UAE, Nigeria, Others]
North America region held the largest Camera Technology market share in the year 2023. Europe on the other hand stood as the second largest Camera Technology market due to the presence of key companies in the region and high technological advancement.
- North America is projected to lead the Camera Technology market. The United States would contribute the highest in this region.
- Europe is a shining marketplace in Camera Technology Market during the projected year of 2023-2029. UK, Germany & France to hold maximum market share.
- The Camera Technology market study also provides a breakdown by Southeast Asian (ASEAN) countries. It is anticipated to see the fastest growing territory in Camera Technology Industry.
- Rest of the Major Asian Economies that are considered in the study are China, Japan, India, and Australia.
- Central & South American market is experiencing Investors’ attention. Brazil, Mexico, and Argentina are seen as the ‘Red Hot’ Market in Camera Technology Market.
- Middle East region is projected to have explosive growth in the Camera Technology market. Mainly dominated by the United Arab Emirates, Saudi Arabia (KSA), and Turkey.
- Africa: This region still gaining traction. South Africa would play a major role followed by Nigeria.
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Market Growth Drivers
- The increasing usage of high-end cameras in smartphones and CCTV systems is one of the main reasons why the worldwide market for camera technology is expanding quickly.
- Companies like Apple and Samsung have been driving the market for smartphones with cutting-edge camera technology by releasing new models with enhanced camera functionality.
- In 2021, 1.43 billion smartphones were sold to end users globally, demonstrating their sizeable market and how they are influencing the expansion of the market for camera technology.
- Additionally, the demand for CCTV and surveillance cameras has increased as a result of rising security concerns around the world, driving up prices for camera technology.
- A key development in the camera technology industry is the introduction of 5G technology. Internet bandwidth and speed have grown thanks to 5G networks, enabling quicker and more effective data transport.
- As a result, new uses for camera technology have emerged, including virtual and augmented reality, which call for fast communication and minimal latency. In addition, with the growth of smart cities throughout the world, 5G and camera technologies are in great demand for traffic monitoring, incident detection, and enhancing public safety.
- Another modern development in camera technology is the Internet of Things (IoT). IoT makes it possible to integrate cameras with other gadgets, such as sensors and smart home gadgets, enabling smooth automation and control.
- As the demand for smartphones with advanced camera technology rises, emerging nations provide lucrative development prospects for the worldwide camera technology industry.
- Additionally, the growing middle class in developing nations is a key factor fueling the market for camera technology.
- Demand will continue to grow as more individuals in these markets have access to discretionary cash and are thus more inclined to purchase high-end smartphones with cutting-edge photographic functions.
- The younger populations in emerging nations are also more tech-savvy and more likely to adopt new technology, which further adds to the rising demand for camera equipment.
- The main factors hindering growth in the worldwide camera technology market are government laws concerning data privacy and security as well as the expensive cost of adopting camera technology.
- Entrepreneurs in the camera technology sector have a variety of difficulties while trying to adhere to laws protecting the security and privacy of the public in various nations.
- The expense of complying with these restrictions rises for market participants. The expensive cost of technology also contributes to restricted consumer demand for camera technology, which results in a smaller user base. This, therefore, prevents the market from expanding globally.
Major Development in the Camera Technology Market
|Market Forecast (2029)||USD 74.5 Billion|
|Current Market Size (2022)||USD 49.6 Billion|
|Dominating Segment||Media and Entertainment|
|Major Players Profiled||Axis Communications AB (Sweden), Bosch Security Systems, INC. (United States), Flir Systems, INC. (United States), Infineon Technologies Ag (Germany), Nikon Corporation (Japan), Occipital INC. (United States), Panasonic Corporation (Japan), Pelco by Schneider Electric (United States), Primesense LTD. (Israel), Red Digital Cinema Camera Company (United States), Softkinetic (Belgium), Sony Corporation (Japan)|
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Frequently Asked Question
Q1: What is the current market size for the Camera Technology Market?
A: According to a report by Market.us, the Camera Technology Market was valued at USD 49.6 Billion in 2023 and is expected to reach USD 74.5 Billion by 2032, growing at a CAGR of 18.5%.
Q2: What are the key segments of the Camera Technology Market?
A: The Global Camera Technology Market Breakdown by Application (Consumer Electronics, Robotics, and Gaming, Media and Entertainment, Automotive, Healthcare, Defence & Aerospace, Industrial) by Type (Sensor, Microcontroller & Microprocessor IC) and by Geography (North American, South America, Europe, Asia, MEA).
Q3: Name Major Players in the Camera Technology Market.
A: Some of the key players in the Camera Technology Market include Axis Communications AB (Sweden), Bosch Security Systems, INC. (United States), FLIR Systems (United States), Infineon Technologies (Germany), Nikon Corporation (Japan), Occipital (United States), Panasonic (Japan), Pelco by Schneider Electric (United States), PrimeSense LTD. (Israel), Red Digital Cinema Camera Company (USA), Softkinetic (Belgium), Sony (Japan).
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 434 322 0091
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