Photography equipment: Key market research findings
- Growing popularity of MILCs
- Growing demand for personalized digital cameras
Technavio has released a new market research report on the photography equipment market in the US, which is expected to grow at a CAGR of 4% by 2020. Product innovations and increasing replacement demand for point-and-shoot cameras are boosting the demand for photography equipment in the US market. For instance, The Nikon KeyMission 360 has full 360° views; is 4K ultra HD-enabled with Bluetooth, Wi-Fi, and NFC; and is waterproof and shockproof. Camera accessories such as lens mounts, optical filters, transmitters, GPS receivers, camcorders, slide projectors, and superzoom lenses and are in high demand in this market.
“One of the latest trends gaining prominence in the photography equipment market in the US is the growing popularity of mirror-less interchangeable lens cameras (MILCs). Interchangeable lens cameras are expected to gain market share during the forecast period, mainly due to the increased consumer spending on mirror-less cameras. The compact size, convenience of use, and performance efficiency of interchangeable lenses are expected to drive the demand for MILCs over the next five years. Nikon D5 DSLR and Nikon D4S are some of the high-end MILCs from Nikon,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research.
Manufacturers and marketers of photography equipment are introducing personalized digital cameras to meet end-user requirements, such as rugged and advanced waterproof cameras in different colors. Some of the popular waterproof cameras are Canon PowerShot D30, Nikon COOLPIX AW130, Panasonic LUMIX TS5 & TS6, Sony Cyber-shot TX30, Fujifilm FinePix XP80, Olympus TG-4, Olympus Stylus Tough TG-860, GoPro HERO4 Black or Silver, Panasonic TS30, and GoPro HERO4 Black or Silver.
The leading players in the photography equipment market in the US are Canon, Nikon, Sony, Panasonic, and Fujifilm. This market is highly competitive with the presence of a few major global players and some regional players. It is concentrated among the few key global players operating in the US market.
A more detailed analysis is available in the Technavio report, Photography Equipment Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
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