Global Digital Photography Market Poised for Growth, Expected to Reach $66.68 Billion by 2028

Digital Photography Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ -- The digital photography market size has grown strongly in recent years. It will grow from $50.71 billion in 2023 to $53.84 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to smartphone integration, social media influence, internet connectivity, software development, and e-commerce in photography gear. The digital photography market size is expected to see strong growth in the next few years. It will grow to $66.68 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to artificial intelligence in imaging, virtual and augmented reality photography, subscription-based photography services, blockchain for copyright protection, and sustainability in camera manufacturing.

Increasing Number of Smartphone Users Drives Market Growth
The increasing number of smartphone users worldwide will drive the digital photography market going forward. Smartphone users use a smartphone, a cellular telephone with an integrated computer, and other functions not previously associated with cell phones, such as an operating system, the capacity to execute software programs, and web surfing. Smartphones are the primary camera for many individuals, offering convenience, portability, and increasingly advanced camera capabilities. This widespread adoption of smartphones as cameras has led to more extensive user engagement in digital photography. For instance, in 2023, according to the Global System for Mobile Communications Association, a UK-based non-profit organization for mobile network operators worldwide, by the end of 2022, over 5.4 billion individuals worldwide had enrolled in mobile service, with 4.4 billion additionally using mobile internet. Furthermore, the percentage of smartphone connections was 76% in 2022 and is predicted to climb to 92% by 2030. Therefore, the increasing number of smartphone users worldwide is expected to propel the digital photography market.

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Major Players and Market Trends
Major companies operating in the digital photography market report are Samsung Electronics Co Ltd., PENTAX Imaging Co, Sony Corp, Panasonic Corp, Canon Inc., Toshiba Corporation, Fujifilm Holdings Corp, Lytro Inc., Nikon Corp, Eastman Kodak Company, Shutterstock Inc., Arri Group, Leica Camera AG, Blackmagic Design Pty Ltd., Polaroid Corporation, Red Digital Cinema LLC, Matterport Inc., OM Digital Solutions Corporation, Vivitar Corporation, Giraffe360 Limited, Kinefinity Inc., Aryeo Co, Harman Technology Limited, Algolux Inc., Loupe Photography & Video Inc.

Major companies operating in the digital photography market are concentrating their focus on developing innovative solutions such as tilt-shift lenses. Tilt-shift refers to a photographic and cinematographic technique that involves tilting and shifting the lens elements to control perspective distortion and focus. For instance, in September 2023, Fujifilm Holdings Corporation, a Japan-based multinational company announced the launch of ‘Fujinon GF30mm F/5.5 T/S’ and ‘Fujinon GF110mm F/5.6 T/S Macro’. These lenses are specifically designed for the Medium-Format Digital Mirrorless platform and are integrated with both shift and tilt capabilities. Located at the front of each lens is a tilt mechanism that can adjust the barrel up to ±8½ degrees. This adjustment results in a focal plane that is angled relative to the sensor.

Segments:
The digital photography market covered in this report is segmented –
1) By Type: Photo Processing Equipment, Interchangeable Lenses, Camera Cell Phones, Other Types
2) By Application: Photography Software, Photo Looks, Photo Processing, Other Applications
3) By Distribution Channel: Online, Offline
4) By End-User: Personal, Profession

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the digital photography market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital photography market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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Digital Photography Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Digital Photography Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on digital photography market size, digital photography market drivers and trends, digital photography market major players, competitors' revenues, market positioning, and market growth across geographies. The digital photography market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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