LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global digital broadcast and cinematography cameras market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The top four emerging trends driving the global digital broadcast and cinematography cameras market according to Technavio research analysts are:
- Shift in demand from developed nations to developing nations
- Emergence of high-end cameras
- Rise in consumer expectations
- Increase in popularity of online retail
Shift in demand from developed nations to developing nations
The growing demand from South America, Russia, South Africa, South Korea, and some countries in APAC will result in speedy growth of the global digital broadcast and cinematography cameras market during the forecast period. This shift in demand from developed nations to developing nations is because the markets in developed countries such as the US and the UK have reached saturation. On the contrary, the market in developing nations is still in its nascent stage and has high growth opportunities.
“The penetration level of digital broadcast and cinematography cameras in emerging countries in APAC and South America is very low, leading to increased demand from first-time buyers. The high demand for digital broadcast and cinematography cameras from these regions is supported by the increase in the number of digital cinema screens, disposable income, and the demand for more HD channels,” says Ujjwal Doshi, a lead analyst at Technavio for media and entertainment services research.
Emergence of high-end cameras
The frame rates for digital movie content have increased from 24 frames per second (FPS) to 48 FPS, 60 FPS, 120 FPS, and 1,000 FPS. As of 2016, the market has digital broadcast and cinematography cameras with 2K and 4K technologies that can support frame rates as high as 2,000 FPS. So, the evolution of 8K and 16K resolution cameras will support the increasing frame rates, which, in turn, will support the growth of the global digital broadcast and cinematography cameras market.
Rise in consumer expectations
Some of the factors influencing the consumer buying behavior for cameras are availability of different cameras at low prices, presence of technologically advanced equipment, and low switching costs that can offer the end-users with options to purchase additional equipment from other vendors.
“The growing demand from viewers for premium HD content is also fueling the demand for high-end innovative cameras. In addition, consumers prefer easy compatibility of accessories such as lenses and mounts from other vendors. Therefore, rising consumer expectation is another key trend that will lead to the growth of the global digital broadcast and cinematography cameras market over the next four years,” says Ujjwal.
Increase in popularity of online retail
Most of the digital broadcast and cinematography camera manufacturers are selling their products online as consumers are increasingly using the internet to purchase products. Online retail allows vendors to target a global audience without any geographical restrictions. This also eliminates the need for investments in outlets and workforce. Broadcast and cinematography camera manufacturers that include Panasonic, Sony, and popular e-commerce websites like eBay and Amazon provide a range of cameras online.
During the forecast period, we expect the online retail industry to exhibit significant growth due to extensive use of the internet, especially in developing countries. The number of internet users worldwide was 3.17 billion in 2015 compared to 2.94 billion in 2014. Increased penetration of the internet along with a wide range of camera options from different manufacturers will increase the adoption of digital broadcast and cinematography cameras globally.
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