The global photography equipment market 2018-2022 is expected to post a CAGR of over 6% during the forecast period, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global photography equipment market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is product innovation and portfolio extension leading to premiumization. There is a high demand for high-quality cameras with integrated modern technology. Thus, the products such as cameras and other equipment with innovative features and functionalities are priced higher than other regular products. In addition, portfolio extension also leads to product premiumization.
This market research report on the global photography equipment market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing demand for MILCs and waterproof cameras as one of the key emerging trends in the global photography equipment market:
Global photography equipment market: Increasing demand for MILCs and waterproof cameras
Vendors of photography equipment have introduced various types of cameras to provide better photography experience and high efficiency. One of the emerging trends in the market is the increasing demand for mirrorless interchangeable cameras. These cameras have become very popular over the years. Customers seek these cameras as they offer a convenient photography experience and are easy to use.
“The MILCs are lighter and smaller than DLSRs. They do not contain mirrors inside the camera body. Thus, the light passes directly through the lens and the image sensors. Also, some of the users can use third-party lens adapters in their mirrorless cameras. They can also attach the lenses of other brands,” says a senior market research analyst at Technavio.
Global photography equipment market: Segmentation analysis
This market research report segments the global photography equipment market by products (cameras and other photography equipment) and geographical regions (APAC, EMEA, and the Americas).
The cameras segment held the largest market share in 2017, accounting for over 60% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with approximately 36% of the market share, followed by APAC and EMEA respectively. The US, Canada, and Brazil contributed the maximum share in the Americas.
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Five Forces Analysis
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