World Digital Camera Market to Decline through to 2022, Predicts IMARC Group in Its New Report Recently Uploaded at MarketPublishers.com
22 Jan 2018 • by Natalie Aster
LONDON – In the wake of the introduction and rapid penetration of high-end smartphones, the digital camera market exhibited slow growth globally during the past several years. With the launch of every new smartphone, the camera functions are getting better, thus, side-lining the need to own digital cameras. Besides, consumers view smartphones as a better investment rather than digital cameras, as these devices offer different additional functions.
Furthermore, the rental system in the digital camera market has brought to a fall in sales of digital cameras for professional use as well. Also, minimal customer engagement by the camera producing companies and complex specifications have dampened the growth prospects of the market.
In the year 2016, the world’s digital camera market size reached USD 7.3 billion. During 2017-2022, this market is set to continue declining at a -4.8% CAGR. By 2022, the market value will likely drop to appr. USD 5.4 billion.
The new research report “Digital Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022” worked out by IMARC Group gives a deep, professional insight into the worldwide digital camera market featuring all its important aspects. It segments the market on the basis of types and regions, uncovers updated statistics and data on size, shares and growth rates of the key segments. Moreover, this publication sheds light on the import-export scenario in the global digital camera market, describes the competitive environment, comprises Porter’s five forces analysis and SWOT analysis, provides valuable info on the top players active in the marketplace. The report also contains an insightful overview of the market dynamics with the major growth impacting factors, gives a detailed value chain analysis, offers access to comprehensive future forecasts through to 2022.
Visit IMARC Group online page to find a full collection of the publisher’s research studies.