Photographic Equipment Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
The global photographic equipment market has gained substantially from the high demand for replacement of built-in lenses in digital as well as compact point-and-shoot cameras. The breakthrough innovations in technology is also adding to the growth of this market. The recent technological advancements have enabled vendors to introduce value-added services for photography equipment. Going forward, several technological advancements, such as the integration of touchscreens and HD quality lenses in cameras will boost the sales of cameras, which resultantly will push the demand for photography equipment in the years to come.
The worldwide market for photographic equipment displays a fragmented structure, thanks to a large pool of participants. The leading vendors of photographic equipment are increasingly preferring for e-tailing and social media marketing. Recently, a number of vendors begun to offer their products online with the assistance of e-retailers operational across the world. These vendors offer products not only through third-party portals but also by their own online shopping portals at hefty discounts. With the availability of a wide range of photography equipment online, consumers can choose an equipment that exclusively matches their requirements and is compatible with the kind of camera they own. The market is expected to continue its growth trajectory over the forthcoming years.
Photographic equipment help capturing still photographs and videos by recording images with the help of image sensor. In order to capture image firmly focused by the lens, these equipment use an array of light sensors. At present, the photographic equipment technology has grown significantly over the last couple of years. The big shift in the photographic equipment market is basically due to the advent of DSLR cameras. Currently, rechargeable batteries and storage cards allow more than hundreds of photographs per charge. With technological advances on the run, solar energy cell batteries are anticipated to provide unlimited battery power. Based on components, the photographic equipment market is categorized into image processors, lens, semiconductor components, memory systems, battery, and sensors. Additionally, various accessories of photographic equipment comprise triggers, camera lenses, tripods, lens adapters, liquid heads liquid, memory cards, and fiber light guides among others.
The prime driving factor of the global photographic equipment markets is the incessantly improving economic conditions. Owing to the rising disposable income, several consumers are deciding for high end photographic equipment. The chief restraint of the photographic equipment market is the increasing penetration of smartphones. Presently, most of the smartphones are fortified with high resolution cameras with improved image capturing competence. Henceforth, many consumers choose their smartphones over cameras for capturing and sharing images. Additionally, owing to the high cost of high-end photographic equipment, several users opt for smartphones. Furthermore, despite of the long product life cycle of photographic equipment, it leads to limited revenue generation as customers won’t buy it frequently.
Introduction of technologically advanced features such as SIM card slots and sharing capability with social media websites, Bluetooth and Wi-Fi provide lucrative opportunities for the growth of the global photographic equipment market. Additionally better lens zooming ability, image detection, full HD videos, and touch screen user interface are anticipated to fuel the growth of the global photographic equipment market. Various types of photographic equipment include cameras, film processing mini labs, papers and chemicals, photographic films, stands, flash lamps, and lenses among others. With internet becoming ubiquitous, the ability to share photos and videos over a wireless network is expected to gain traction among the manufacturers of photographic equipment. The insertion of voice commands to record or capture images and videos in photographic equipment is anticipated to bolster the growth of the global photographic equipment market.
Geographically, North America holds the leading share in the global photographic equipment market. However, due to the easy and cheap availability of raw materials, many leading manufacturers of photographic equipment have set up their manufacturing units in large scale in the countries in Asia Pacific such as Japan and China.
The players in the market are striving to gain a competitive by setting prices according to currency exchange rates and local market situations. Some of the prime players are Eastman Kodak Co., Sigma Corporation, Toshiba Corporation, Sakar International Inc, Casio Computer Co., Fujifilm Co., Olympus Corporation, Ricoh Co. Ltd., Leica Camera AG, Canon Inc., Sony Corporation, and Nikon Corporation.
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