The camera accessories market is likely to register a CAGR of 13.5% during the forecast period and is anticipated to reach a market share of US$ 12.34 Billion in 2032 from US$ 2.7 Billion in 2020, due to product innovations and new product launches in the market.
The increased demand for high-end digital cameras has boosted the camera accessories market globally. Camera accessories mainly enhance the accessibility, usability, efficiency, and working life of the camera. Camera gear include the lens, screen protectors, tripods, monopods, bags and punches, batteries and charges, and others.
The wide range of uses of cameras for wildlife, landscape, wedding, fashion, portrait, sport, aerial and action, photojournalism, and commercial will drive the camera accessories market growth. The importance of camera accessories is inevitable for professional photographers.
A fast prime lens, tripod, remote shutter release and polarizing filter help the photographer to take better photos. Moreover, a camera bag and strap help to protect the valuable equipment and additional batteries and memory cards allowing the photographer to shoot continuously.
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Global Camera Accessories Market: Reasons for Covering this Title
Global demand for high-end cameras is high among the youth in the urban population. With the assistance of different camera accessories, it has become possible to enhance the quality and experience of photography. The high-end camera buyers tend to buy the camera accessories for stability and accessibility.
Although the smartphones highly hamper the camera and its accessories market, the demand for the camera and its accessories by professional will grow owing to increased demand in their respective industry.
According to industries that demand the use of the camera, the various camera accessories will be in need. It necessitates by studying the camera accessories market. The product innovations and new product launches in the camera accessories market are estimated to make the survival of the market.
Global Camera Accessories Market: Key Players
Some of the key players operating in the global Camera Accessories market are Canon Inc., Nikon Corporation, Sony Corporation, Fujifilm Holdings Corporation, Olympus Corporation, Panasonic Corporation, GoPro, Inc., CASIO COMPUTER CO., LTD., Leica Camera AG, CP PLUS, Ricoh Imaging Americas Corporation, SAMSUNG GSG, Vitec Imaging Solutions Spa, Peak Design and RED among others.
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Camera Accessories Market: Key Trends
- There is a high demand for high-performance lenses as the Internet of Things (IoT) advances and security become more critical for the safety of life and property.
- A rapid acceleration in the switching of a single lens reflex camera to the mirror-less camera has brisk the camera accessories market.
Camera Accessories Market: Key Developments
- In October 2018, a special version of the Manfrotto Befree tripod was launched that targeted professionals who demand outmost quality and high performance.
- In September 2018, Eastman Kodak Company and Kodak Alaris announced the availability of highly anticipated KODAK EKTACHROME Film line worldwide.
- In September 2017, Sony Corporation and Vitec Photographic has announced collaboration in the imaging market consolidating both companies position in the market.
Opportunities for Camera Accessories Market Participants
Cameras with interchangeable lens coupled with their upgraded features and superior quality of images have high growth boosting the camera accessories market. High-quality lenses and lens filters will drive the camera accessories market prominently.
There is the rising popularity of cameras among the women owing to the attractive aesthetic looks and women concentric advertisements will enhance the camera accessories market growth.
Not only developed countries but also developing nations are estimated to have a good camera accessories market presence. The saturation of the camera accessories market in developed countries will focus on the developing countries market enhancement.
Brief Approach to Research for Camera Accessories Market
FMI will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, formats, and application of segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Camera Accessories Market sizes.
Global Camera Accessories Market: Market Segmentation
On the basis of product types, the global camera accessories market has been segmented as –
- Filter lens
- Lens
- Screen protectors
- Memory cards
- Camera bags and pouches
- Tripods and mounts
- Batteries and chargers
- Others
On the basis of types of gear, the global Camera Accessories Market has been segmented as –
- Drones
- DSLR
- Mirror-less
- Professional DSLR
- Video camera
On the basis of the distribution channel, the global Camera Accessories Market has been segmented as-
- Direct
- Indirect
- Hypermarket/Supermarket
- Specialty Stores
- Online Store
- Others
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