A digital camera produces digital images that can be stored in a computer or displayed on a screen. Unlike film camera, digital camera use charged coupled device (CCD) to capture images, which are stored in digital electronic format in a memory card. These cameras eliminate film processing, i.e., there is no need to develop the film roll in the dark room. Moreover, they offer massive storage capacity, have a viewing screen that allows to view the image as soon as it is clicked along with many other user-friendly features. However, with the advent of high-end smartphones, the digital camera market has experienced a slow growth over the past few years. According to IMARC Group’s latest report, titled “Digital Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the global digital camera market reached a value of US$ 7.3 Billion in 2016.
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The global digital camera market is negatively influenced by the availability of superior camera functions on smartphones. With the launch of every smartphone, the camera functions are consistently getting better, side-lining the need to own digital cameras. Moreover, consumers believe that smartphones are a better investment as opposed to digital cameras, since these phones offer various additional functions. Besides, the rental system in the camera market has also led to a decline in the sales of digital cameras for professional purposes. Apart from this, minimal customer engagement by the camera manufacturers and complex specifications have diminished the growth prospects of the market. Owing to these restraints, the market is anticipated to decline at a CGAR of 4.8% during 2017-2022, reaching a value of US$ 5.4 Billion by 2022.
The report has segmented the market on the basis of type into built-in lens cameras, interchangeable lens cameras, compact digital cameras, bridge cameras, Digital Single Lens Reflex (SLR) Cameras, digital rangefinders, line-scan camera systems, integration camera and water-resistant cameras. On a regional basis, the report covers Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Currently, Asia Pacific represents the largest region, accounting for majority of the global shares. On analysing the import-export scenario, it is found that the United States is the largest importer and China is the largest exporter of digital cameras. The report has also analysed