The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Digital Photography Global Market Report 2023, the digital photography market is expected to show significant growth in the forecast period.

Key insights from the digital photography market forecast include:

1. Market Size

The worldwide digital photography market is anticipated to increase from $47.59 billion in 2022 to $50.71 billion in 2023, with a 6.6% compound annual growth rate (CAGR). Projected data suggest the digital photography market will achieve $62.81 billion in 2027, showcasing a CAGR of 5.5%.

2. Major Driver

The growing global smartphone user base will be a significant driver of the digital photography market. Smartphones, multifunctional cellular devices with features like operating systems, software execution, and web access, have become the primary cameras for many people. For example, in 2023, the Global System for Mobile Communications Association reported that over 5.4 billion individuals had enrolled in mobile services by the end of 2022, with an additional 4.4 billion using mobile internet. Moreover, smartphone connections accounted for 76% in 2022 and are projected to reach 92% by 2030. Consequently, the expanding global smartphone user base is poised to drive the digital photography market.

View More On The Digital Photography Market Report 2023 – https://www.thebusinessresearchcompany.com/report/digital-photography-global-market-report

3. Key Trend

Product innovations are a prominent trend in the digital photography market. Leading companies in the digital photography market are dedicated to creating innovative solutions to bolster their market presence. An example of this is Victor Hasselblad AB, a Sweden-based camera and photography equipment manufacturer, which introduced the X2D 100C camera and three new lenses in the XCD family, including the XCD 2,5/38V, XCD 2,5/55V, and XCD 2,5/90V. These innovations aim to enhance the video-making experience, with technical improvements in image quality, camera handling, system responsiveness, and faster, more precise autofocus using a stepping motor. The redesigned leaf shutter offers compactness and flash sync at all speeds while maintaining Hasselblad’s renowned optical performance.

4. Major Players

Major players in the digital photography market are Samsung Electronics Co Ltd., PENTAX Imaging Co, Sony Corp, Panasonic Corp, Canon Inc., Toshiba Corporation, Fujifilm Holdings Corp, Lytro Inc., Nikon Corp, Eastman Kodak Company, Shutterstock Inc, Arri Group, Leica Camera AG, Blackmagic Design Pty Ltd., Polaroid Corporation, Red Digital Cinema LLC, Matterport Inc., OM Digital Solutions Corporation, Vivitar Corporation, Giraffe360 Limited, Kinefinity Inc., Aryeo Co, Harman Technology Limited, Algolux Inc., and Loupe Photography & Video Inc.

5. Top Market Segments

The global digital photography market is segmented –
1) By Type: Photo Processing Equipment, Interchangeable Lenses, Camera Cell Phones, Other Types
2) By Application: Photography Software, Photo Looks, Photo Processing, Other Applications
3) By Distribution Channel: Online, Offline
4) By End-User: Personal, Profession

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The Digital Photography Global Market Report 2023  provides an in-depth analysis on the digital photography market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the digital photography market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Computational Photography Global Market Report 2023

Photographic Services Global Market Report 2023

Photographic And Photocopying Equipment Global Market Report 2023

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