LONDON--(BUSINESS WIRE)--The mirrorless camera market size is poised to grow by USD 1.82 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Mirrorless camera market has grown substantially in terms of unit shipments and revenue. Unit shipments of mirrorless cameras were up nearly 29% in 2017 from 2016. The rising demand for mirrorless cameras globally has led to the launch of the A9, A7R lll, and A7 mirrorless cameras by Sony. Development, such as this, has encouraged the likes of Canon and Nikon to venture into the mirrorless camera segment. Players that are already offering mirrorless cameras are likely to extend their product offerings to cater to the rising demand. Therefore, the global mirrorless camera market is set to expand at a healthy pace during the forecast period.
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As per Technavio, increasing models of full-frame mirrorless cameras will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Mirrorless Camera Market: Increasing Models of Full-Frame Mirrorless Cameras
Initially, mirrorless cameras were available only with MFT sensors, given their compact size. MFT sensors are smaller than full-frame sensors. However, full-frame sensors are more efficient than MFT sensors under low light conditions. Hence, the preference for full-frame sensors over MFT sensors is high among photographers for indoor shooting. Moreover, recent innovations have enabled manufacturers to deliver mirrorless cameras with full-frame sensors. For instance, in September 2018, Panasonic announced its plans to launch the Lumix S, its first-ever full-frame mirrorless camera.
“Factors such as the product expansion of major brands and the growing online retail sales will have a significant impact on the growth of the mirrorless camera market value during the forecast period,” says a senior analyst at Technavio.
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Mirrorless Camera Market: Segmentation Analysis
This market research report segments the mirrorless camera market by distribution channel (offline and online) and geography (APAC, EMEA, and Americas).
The APAC region led the market in 2018, followed by EMEA and the Americas, respectively. The growth of the mirrorless camera market share in APAC can be attributed to factors such as strong manufacturing activities, increasing shipments of mirrorless cameras, and the entry of established brands in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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