Low-cost Digital Cameras Will Significantly Augment the Global Camera Accessories Market Until 2020, Says Technavio

LONDON--()--According to the latest research study released by Technavio, the global camera accessories market is expected to reach USD 4.85 billion in revenue by 2020.

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.

Request sample report: http://bit.ly/28S98BL

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

Global portable water purification systems market by RO technology

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.

Browse related reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

According to the latest research study released by Technavio, the global camera accessories market is expected to reach USD 4.85 billion in revenue by 2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com