Camera accessories: Key market research findings
- Growing popularity of online retail
- Camera lens segment is the highest revenue contributor
Technavio has released a new market research report on the global camera accessories market, which is expected to decline at a CAGR of 3% between 2016 and 2020. Though the market is witnessing negative growth, the growing demand for advanced digital cameras such as MICs and DSLRs, has increased the adoption of camera accessories, thereby slowing down the decline rate. The Americas is the largest revenue-contributing region in the global camera accessories market, accounting for 40% of the total market share.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Growth of online retail across the globe is driving the sales of camera accessories. Several camera accessory manufacturers are moving their businesses online for better visibility and market presence. For instance, websites of camera accessory manufacturers like Canon, Samsung, and Panasonic, along with popular e-commerce websites like Amazon and eBay offer a vast range of camera accessories online,” says Soumya Mutsuddi, Lead Analyst, Media & Entertainment, Technavio Research
Lenses occupy the largest share of camera accessories market, accounting for 69% of eth total market. Though this segment is expected to lose its market share during the forecast period, it will continue to dominate the market by 2020. Much of this segment’s growth comes from the surging demand for high-end digital cameras.
Global camera accessories market segmentation by product
Source: Technavio, 2016
The key vendors in the global camera accessories market include Canon, Nikon, Panasonic, Samsung, and Sony. This market is highly competitive owing to the presence of well-established global players. The vendors compete on the basis of product differentiation, portfolio, and pricing, and the competition will intensify due to increasing product extensions.
A more detailed analysis is available in the Technavio report, Global Camera Accessories Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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