This research report titled ‘Global Camera Accessories Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various product segments, including lenses, bags, cases, and straps, supports, and flashguns.
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The global digital camera market has been exhibiting a steady decrease in the price of digital cameras. Vendors introduced an economical variant of digital cameras due to a reduction in consumers' purchasing power after the 2008 economic recession in the US. These low-cost digital cameras were introduced to penetrate into developing countries as well, where the purchasing power of consumers was low compared to developed nations. This factor has propelled the demand for such cameras in the market.
“One of the important reasons for the adoption of camera accessories such as lenses and flashguns is to improve the quality of pictures. Many photographers carry dedicated lens to capture macro photos. Photographers use zoom lenses with high megapixels for wildlife photography. For instance, Canon offers a broad range of lenses such as EF-M lenses, ultra-wide zoom lenses, telephoto zoom lenses, and wide-angle lenses,” said Soumya Mutsuddi, one of Technavio’s lead analysts for consumer electronics.
Global camera accessories market segmentation by product
- Lenses 69.11%
- Bags, cases, and straps 22.96%
- Supports 5.36%
- Flashguns 2.28%
- Others 0.29%
Source: Technavio research
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In 2015, the global camera lens market was valued at USD 3.97 billion. The global camera lens market is declining due to the decrease in the shipment of interchangeable lens cameras. The shipments of these cameras are directly affecting the sales of lenses. The global delivery of interchangeable lens cameras was approximately 14 million units in 2014, which declined to approximately 13 million units in 2015. This decrease has negatively influenced the growth of the lens market.
Global camera flashgun market
In 2015, the global camera flashgun market was valued at USD 131 million. During the forecast period, the global camera flashgun market is likely to exhibit a declining trend in market growth because of the limited number of customers for flashguns. Advances in technology have led to the production of cameras that are equipped with high-powered built-in flashes, eliminating the need for users to invest in separate flash units. This will likely have an adverse impact on the growth of the global flashgun market.
With advances in image sensing technology, the latest sensors can produce better-quality images in low-light conditions. It eliminates the need for external flashes and restricts the use of flashguns for professional purposes only.
Global camera bag, case, and strap market
In 2015, the global camera bag, case, and strap market was valued at USD 1.32 billion. The global camera bag, case, and strap market will likely exhibit a decrease in revenue during the forecast period. However, we expect the market to dominate in terms of unit shipment. In 2015, the global shipment of bags, cases, and straps totaled 21 million units compared to 19.8 million units in 2014. Users prefer using bags and cases to protect their cameras against physical damage.
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