Key vendors to focus on product line extension and geographical expansion until 2021.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the photography equipment market in the US in their latest research report. This report also lists 11 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The photography equipment market in the US is competitive in nature and is characterized by the presence of well-established global players. The market is dominated by a few dominant players. These players compete with each other in terms of product innovation and pricing to gain shares in the market and keep pace with the intensifying competition.
According to Poonam Saini, a lead analyst at Technavio for research on retail goods and services, “Majority of the vendors in the photography equipment market in the US cater to end user segments such as film and television production, real estate, journalism, security and surveillance, healthcare, retail, and food servicing sectors. During the forecast period, vendors are likely to focus on R&D activities and enhancement of product portfolio and geographical presence to gain market shares.”
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Top five vendors in the photography equipment market space in the US
Canon
Canon manufactures and sells industrial digital imaging solutions. The company’s products are used in the film and television production, journalism, real estate, security and surveillance, retail, healthcare, and food servicing sectors. Canon operates in the US market through its subsidiary Canon USA.
Key products: EOS DSLR cameras, Wireless file transmitters, Camcorders, High-definition pan-tilt-zoom cameras, and Standard & medium telephoto lenses.
FUJIFILM
FUJIFILM focuses on the R&D, manufacture, sale, and servicing of photography equipment products in the US through its subsidiary, FUJIFILM Holdings America Corporation. It caters to the electronic, medical and life sciences, graphic arts, chemical, motion picture, broadcast, information systems, and photography sectors
Key products: FUJIFILM X100S, FUJIFILM X70, FinePix S8600, FinePix S9200, Instax Mini HELLO KITTY, and Instax Mini 7S.
Nikon
Nikon, formerly known as Nippon Kogaku USA, offers precision optics, photo imaging, and digital imaging technology products to professional photographers and amateurs. Nikon, formerly known as Nippon Kogaku USA, offers precision optics, photo imaging, and digital imaging technology products to professional photographers and amateurs
Key products: Enthusiast DSLRs, KeyMission 360, Advanced performance cameras, Waterproof/shockproof cameras, Slim zoom cameras, and Budget friendly cameras.
Panasonic
Panasonic operates through its subsidiary Panasonic Corporation of North America in the US. Panasonic Corporation of North America focuses on developing, manufacturing, marketing, and selling digital and electronic products in North America. Panasonic develops new technologies to increase its customer base in the photography equipment market in the US. In July 2015, the company announced the development of the Post Focus function. This function was developed as an evolution of the 4K photo technology that prevents out-of-focus photo capture.
Key products: LUMIX integrated Leica DC lens camera, Panasonic LUMIX 4K mirror-less interchangeable lens camera, Active lifestyle tough camera, and Point-of-view wearable 4K action camera.
Sony
Sony offers photography equipment and operates in the US market through its subsidiary Sony Corporation of America. The company tends to explore both organic and inorganic ways to grow. Exploring the organic way of growth, in May 2015, Sony acquired Optical Archive. The acquisition leverages the Optical Archive’s supply chain operations and systems integration.
Key products: DSC-QX100, G lenses, Zeiss lenses, Prime lenses, and Casual shooting.
A more detailed analysis is available in the Technavio report, Photography Equipment Market in the US 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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