The digital camera market is projected to lose over US$280 million in value by 2025
Digital cameras, particularly high-end ones, are still largely seen as a necessity when wishing to put a high-production-value gloss on one's content. Nevertheless, according to the latest market research from Technavio, their market is set to contract over the next 3 years from now (2022). It is now forecast to have a market value of US$284.66 million less than it did in 2020 by 2025.
This might be due to forces such as the rise of the premium smartphones rated to potentially supplant dedicated cameras. However, according to the latest report, it is also due to the fragmentation currently acting on the market. The digital camera market is split between a variety of distinct categories, from DSLRs to mirrorless units, and might diversify further into emerging hybrid variants on top of that as the technology moves forward.
On top of that, the digital camera market is portrayed as torn between a relatively large number of prominent and well-established players, Eastman Kodak, FUJIFILM, Nikon, OM (formerly Olympus), Polaroid and Ricoh included. Then again, Canon, Nikon, Panasonic, Samsung, and Sony remain the top 5 in the industry. On that note, their growth might seem stifled by high retail costs
Nevertheless, Technavio foresees some opportunity left in this market, particularly as innovation and emerging use-cases moves it forward. On the other hand, any emerging companies looking to get into the space may be best advised to aim for its lower-end at reduced price-tiers.