Asia Pacific Digital Camera Market Key Players and Opportunities by 2028

The digital camera market in APAC is expected to grow from US$ 2,950.78 million in 2021 to US$ 4,725.49 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028.

The China, Japan, and India are major economies in APAC. Expanding demand for mirrorless cameras is the major factor driving the growth of the APAC digital camera market. A mirrorless system camera does not involve a mirror box within its body and are designed with a compact and attractive exterior with an electronic viewfinder paired with interchangeable lens. Such cameras offer convenience in use compared to digital SLR cameras owing to their smaller and lighter structure. Mirrorless camera comprises lens at the front body along with sensor placed inside and a screen along with an optional viewfinder placed at the back. Additionally, such cameras have small, short, and light lenses and are constructed with a tiny LED or OLED screen, which helps to deliver best possible results altogether. Despite their smaller size, such cameras are designed to provide high quality images with outstanding clarity as that of other conventional digital cameras. The limited presence of glass elements within lenses allows quick autofocus. Further, mirrorless cameras are generally composed of APS-C sensor or a Micro Four Thirds sensor, which offers portability and convenience over DSLRs. With the rising adoption of mirrorless cameras, there is increase in variety of lenses and their respective configurations. Such cameras are extensively demanded from budding photographers to various professional photographers owing to compact and sleekier mirrorless designs along with limited noise making. The increasing demand for mirrorless cameras has brought significant revolution in camera industry in terms of technical innovations. Several manufacturers are aiming to match the pace of the changing dynamics of the market by introducing innovative and technologically advanced mirrorless cameras. For instance, Canon EOS R5 has effectively positioned mirrorless cameras as the future of digital cameras market. The company has developed mirrorless cameras, which features pioneering EOS R System cameras that helps promote silent shooting along with improved low-light performance, diversified range of faster, lighter and brighter RF lenses, and other such features. Moreover, other manufacturers such as Nikon have also come up with Z-range of full frame mirrorless cameras with the flagship Z7 II, and have also adjusted the APS-C offering with the Z50. The outperforming camera range offers Nikon Z5, which is known for stylish little shooter, which promotes full-frame features at an economical price range. The camera comprises twin card slots along with 4K UHD capability and continuous shooting speed of 4.5fps. The camera also delivers full weather-sealing, five-stop image stabilization, and a spectacular electronic viewfinder, which results into best possible photography experience. Other types of mirrorless cameras that are gaining significant momentum are Fujifilm X-S10, Olympus OM-D E-M5 Mark III, Panasonic Lumix S5, Fujifilm X-T4, Sony A6000, Sony A7R Mark IV, and Panasonic Lumix S1R, among others. Hence, the expanding demand for mirrorless cameras is expected to create lucrative opportunities for the growth of the digital cameras market

The COVID-19 is anticipated to cause a significant economic loss in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The governments of various Asia Pacific countries are taking possible steps to restrict the spread of the virus by announcing lockdown, which in turn has negatively impacted the revenue generated by the digital camera market. The ongoing COVID-19 is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific region. For instance, China is the global manufacturing hub for various industries and the largest raw material supplier. However, after a strict two-month lockdown especially in Wuhan area, China is now relaxing restrictions as the number of new cases have dropped drastically in past month (<10 cases/ day) and factories have started with preventive measures in place, especially in the crucial consumer electronics sector. However, the uncertainty regarding the future outbreak especially in countries such as India and few other Asian countries, where the graph is going upwards may affect the growth of digital camera market in coming quarters. The disruptions in the demand for tourism activities, film shootings, and other type of gatherings have been impacted due to social distancing norms and restrictions may further affect the demand in Asian countries

APAC Digital Camera Market Segmentation           

APAC Digital Camera Market – By Type

• Compact Digital Camera
• Bridge Camera
• DSLR Camera
• Mirrorless Camera
• Digital Rangefinder Camera
• Line-Scan Camera

APAC Digital Camera Market – By End User

• Personal
• Professional

APAC Digital Camera Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Digital Camera Market -Companies Mentioned

• Canon Inc
• Eastman Kodak Company
• FUJIFILM Holdings Corporation
• Hasselblad
• Leica Camera AG
• Nikon Corporation
• OM Digital Solutions Corporation
• Panasonic Corporation
• RICOH IMAGING COMPANY, LTD.
• Sony Corporation

Asia Pacific Digital Camera Report Scope