North America Digital Camera Market to Grow at a CAGR of 5.3% to reach US$ 3,391.98 Million from 2021 to 2028
The digital camera market in North America is expected to grow from US$ 2,366.96 million in 2021 to US$ 3,391.98 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.
The US, Canada, and Mexico are major economies in North America. Surge in demand for lightweight and high-quality digital cameras is the major factor driving the growth of the North America digital camera market. With the growing trend toward photography, the demand for digital cameras is expanding. Digital camera allows to capture and store photos and videos digitally rather than printing it to film as per traditional analog cameras. As the consumers are becoming enthusiastic toward sight capturing, the demand for compact, lightweight, and high-quality cameras is rising. Further, the introduction of digital cameras and smartphones has created photography a mainstream profession, which have subsequently generated the need for high quality cameras with user-friendly interface and affordable price. The use of point & shoot digital cameras has been ideal for simple still photography since long time as they offer ease in operation along with compactness and are quite budget friendly. However, the demand for such cameras is often replaced by smartphones possessing high performing in-built cameras supporting casual photography. Hence, digital camera manufacturers are focused toward building lightweight, compact, and high-quality digital cameras, which could provide better imaging than a flagship smartphone and could effectively match the needs of personal and professional photographers. For instance, the growing focus toward pocket friendly and lighter cameras, which could offer better autofocus coverage and superior video performance, has created the demand for compact digital cameras, bridge camera, and mirrorless cameras, which is further anticipated to drive the market in North America.
The US has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is negatively impacting the consumer electronics industry in the region as the COVID-19 pandemic negatively affects the supply and distribution chain. The unprecedented rise in number of COVID-19 cases across the US and the subsequent lockdown of its numerous manufacturing facilities has negatively influenced the growth of the various markets including digital camera market. The decline in revenue owing to less customer demand coupled with limited production capabilities of digital cameras is affecting the growth of digital camera products in the North American region. However, to control the spread of virus, the video shooting and also the film industry is witnessing disruptions which is anticipated to affect the market growth in a negative manner, especially in 2020.
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North America Digital Camera Market Segmentation
North America Digital Camera Market – By Type
- Compact Digital Camera
- Bridge Camera
- DSLR Camera
- Mirrorless Camera
- Digital Rangefinder Camera
- Line-Scan Camera
North America Digital Camera Market – By End User
- Personal
- Professional
North America Digital Camera Market – By Country
- US
- Canada
- Mexico
North America 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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and End user
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Digital Camera Market – By Type
1.3.2 North America Digital Camera Market – By End User
1.3.3 North America Digital Camera Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Digital Camera Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Digital Camera Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Surge in Demand for Lightweight and High-Quality Digital Cameras
5.1.2 Growing Applications of Digital Cameras in Entertainment, Media, and Sports Industries
5.2 Market Restraints
5.2.1 Introduction of Premium Smartphones and High Cost associated with the Digital Cameras
5.3 Market Opportunities
5.3.1 Expanding Demand for Mirrorless Cameras
5.4 Future Trends
5.4.1 Technological Innovations Associated with Digital Cameras
5.5 Impact Analysis of Drivers and Restraints
6. Digital Camera Market – North America Analysis
6.1 Digital Camera Market North America Overview
6.2 Digital Camera Market – North America Revenue and Forecast to 2028 (US$ Million)
7. North America Digital Camera Market Analysis – By Type
7.1 Overview
7.2 North America Digital Camera Market Revenue Breakdown, By Type, 2020 and 2028
7.3 Compact Digital Camera
7.3.1 Overview
7.3.2 Compact Digital Camera: North America Digital Camera Market, Revenue and Forecast to 2028 (US$ Million)
7.4 Bridge Camera
7.4.1 Overview
7.4.2 Bridge Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
7.5 Digital Single Lens Reflex (DSLR) Camera
7.5.1 Overview
7.5.2 DSLR Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
7.6 Mirrorless Camera
7.6.1 Overview
7.6.2 Mirrorless Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
7.7 Digital Rangefinder Camera
7.7.1 Overview
7.7.2 Digital Rangefinder Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
7.8 Line-Scan Camera
7.8.1 Overview
7.8.2 Line-Scan Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
8. North America Digital Camera Market Analysis– By End User
8.1 Overview
8.2 North America Digital Camera Market Breakdown, By End User, 2020 and 2028
8.3 Personal
8.3.1 Overview
8.3.2 Personal: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Professional
8.4.1 Overview
8.4.2 Professional: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
9. North America Digital Camera Market – Country Analysis
9.1 Overview
9.1.1 North America Digital Camera Market, Revenue and Forecast to 2028 (US$ Mn)
9.1.2 North America Digital Camera Market Breakdown, by Country
9.1.2.1 US Digital Camera Market, Revenue and Forecast to 2028
9.1.2.1.1 US Digital Camera Market Breakdown, by Type
9.1.2.1.2 US Digital Camera Market Breakdown, by End User
9.1.2.2 Canada Digital Camera Market, Revenue and Forecast to 2028
9.1.2.2.1 Canada Digital Camera Market Breakdown, by Type
9.1.2.2.2 Canada Digital Camera Market Breakdown, by End User
9.1.2.3 Mexico Digital Camera Market, Revenue and Forecast to 2028
9.1.2.3.1 Mexico Digital Camera Market Breakdown, by Type
9.1.2.3.2 Mexico Digital Camera Market Breakdown, by End User
10. Digital Camera Market- COVID-19 Impact Analysis
10.1 Overview: Impact Assessment of COVID-19 Pandemic
10.2 North America
11. Industry Landscape
11.1 Overview
11.2 Product Launch
11.3 Business Planning and Strategy
11.4 Collaboration
12. Company Profiles
12.1 Canon Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Eastman Kodak Company
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 FUJIFILM Holdings Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Nikon Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Panasonic Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Sony Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Leica Camera AG
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 OM Digital Solutions Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Hasselblad
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 RICOH IMAGING COMPANY, LTD.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. North America Digital Camera Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Digital Camera Market, Revenue and Forecast To 2028 – By Country (US$ Mn)
Table 3. US Digital Camera Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 4. US Digital Camera Market, Revenue and Forecast to 2028 – By End User (US$ Mn)
Table 5. Canada Digital Camera Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 6. Canada Digital Camera Market, Revenue and Forecast to 2028 – By End User (US$ Mn)
Table 7. Mexico Digital Camera Market, Revenue and Forecast to 2028 – By Type (US$ Mn)
Table 8. Mexico Digital Camera Market, Revenue and Forecast to 2028 – By End User (US$ Mn)
Table 9. Glossary of Terms, North America Digital Camera Market
LIST OF FIGURES
Figure 1. North America Digital Camera Market Segmentation
Figure 2. North America Digital Camera Market Segmentation – By Country
Figure 3. North America Digital Camera Market Overview
Figure 4. DSLR Camera Held the Largest Market Share in 2020
Figure 5. Professional End User Held the Largest Market Share in 2020
Figure 6. US was the Largest Revenue Contributor in 2020
Figure 7. North America– PEST Analysis
Figure 8. North America Digital Camera Market– Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. North America Digital Camera Market: Impact Analysis of Drivers and Restraints
Figure 11. North America Digital Camera Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Digital Camera Market Revenue Share, by Type (2020 and 2028)
Figure 13. Compact Digital Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
Figure 14. Bridge Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. DSLR Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. Mirrorless Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. Digital Rangefinder Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. Line-Scan Camera: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Digital Camera Market Breakdown, By End User, 2020 and 2028 (%)
Figure 20. Personal: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
Figure 21. Professional: North America Digital Camera Market- Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Digital Camera Market, Revenue by Country to 2028 (US$ Mn)
Figure 23. North America Digital Camera Market Breakdown, by Country, 2020 & 2028 (%)
Figure 24. US Digital Camera Market, Revenue and Forecast to 2028 (US$ Mn)
Figure 25. Canada Digital Camera Market, Revenue and Forecast to 2028 (US$ Mn)
Figure 26. Mexico Digital Camera Market, Revenue and Forecast to 2028 (US$ Mn)
Figure 27. Impact of COVID-19 Pandemic in North American Country Markets
- Canon Inc
- Eastman Kodak Company
- FUJIFILM Holdings Corporation
- HasselbladLeica Camera AG
- Nikon Corporation
- OM Digital Solutions Corporation
- Panasonic Corporation
- RICOH IMAGING COMPANY, LTD.
- Sony Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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