Camera Accessories Market Size to grow by USD 856.09 million between 2023-2027
According to a research report “ Camera Accessories Market” by Type (Lenses, Bags and cases, Tripods, Batteries and chargers, Others) Distribution Channel (Online, Offline) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 856.09 million, at a CAGR of 3.71% during the forecast period. The global camera accessories market experiences significant growth in tandem with the increasing sales of digital cameras, particularly DSLRs (Digital Single Lens Reflex) and MILCs (Mirrorless Interchangeable Lens Cameras). Advancements in digital imaging technology have led to an influx of high-definition DSLRs and MILCs in the market, offering superior picture and video quality. These advanced cameras boast compatibility with an extensive range of lenses, enabling users to tailor their devices to their specific needs. The burgeoning compatibility of cameras with lenses of varying resolutions, apertures, and focal lengths has fueled the demand for lenses, thereby driving the expansion of the global camera accessories market..
Browse market data tables, figures, and in-depth TOC on “Camera Accessories Market” by Type (Lenses, Bags and cases, Tripods, Batteries and chargers, Others) Distribution Channel (Online, Offline) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2027. Download Free Sample
By Type, the Lenses segment is projected to dominate the market size in 2024
The global camera market is experiencing a downturn, yet the number of photography enthusiasts continues to expand. Consequently, the demand for camera lenses remains steady, growing at a moderate pace. Enthusiasts seek lenses tailored to their specific photographic needs, with options ranging from wide-angle to telephoto and zoom lenses. Advanced lenses offer optical adjustments and additional features. Notably, aftermarket manufacturers are introducing magnetic lenses for point-and-shoot cameras, eliminating the need for threads. High-end DSLR cameras support a diverse range of lenses, including telephoto and wide-angle options, ensuring versatility for professional photographers.
By Distribution Channel, Online segment is expected to hold the largest market size for the year 2024
The digital shift in consumer shopping behavior is significantly impacting the camera accessories market, with online distribution channels gaining prominence. Consumers' preference for convenience and the ability to shop from the comfort of their homes is driving this trend. Online retailers are responding proactively, providing a vast marketplace where vendors can showcase and sell their products competitively. This platform also offers valuable insights into consumer preferences, enabling vendors to enhance sales. Additionally, online shopping provides flexible and convenient return policies, enhancing consumer satisfaction and loyalty.
North America is forecasted to hold the largest market size by region in 2024
The US market dominates the North American camera accessories industry, contributing significantly to its revenue. However, the market is projected to reach saturation due to the widespread adoption of digital cameras and the increasing prevalence of smartphones. In 2021, the US had the highest smartphone penetration rate in North America, with major vendors such as Apple, Samsung, LG, and Lenovo accounting for approximately 87% of the US smartphone market share, marking a 4% increase from the previous year. This trend poses a significant threat to the growth of the camera accessories market in the region.
The Camera Accessories Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The cameras accessories market caters to both expert photographers and novice enthusiasts, offering a wide range of equipment to enhance their photography experience. From chargers and batteries to keep your cameras powered, to flashes, filters, memory cards, and camera bags for protection and convenience, there's an accessory for every photography need. Expert photographers may invest in advanced equipment like studio flash kits, remote shutter releases, and even gimbles for stabilization during photojournalist photography, action photography, aerial photography, sport photography, portrait photography, fashion photography, wedding photography, landscape photography, and wildlife photography. Meanwhile, novice photographers may focus on essentials like lenses, microphones, and tripods to improve their skills. Internet users and social media applications have also fueled the cameras accessories market, with an increasing number of vloggers and content creators utilizing equipment like gimbals and microphones for their productions. Overall, the cameras accessories market is a dynamic and diverse industry, catering to various photography genres and skill levels, ensuring that every photographer can capture their best moments with ease and precision.
Market Research Overview
The cameras accessories market is experiencing significant growth due to the increasing trend of videography and digital marketing. With the rise of social media and influencer culture, both amateur and professional photographers are investing in high-quality equipment for creating superior image and video content. The market for cameras and accessories includes a wide range of products such as batteries and chargers, bags and cases, lighting kits, green screens, webcams, and microphones. Advertising agencies and marketing firms are also leveraging the power of visual content to engage with urban customers, leading to a surge in demand for high-end cameras, lenses, and peripheral offers. Manufacturing facilities are ramping up production to meet the growing demand for cameras, from mirrorless and DSLRs to action cameras and smartphones. Accessories such as camera stabilizers, lens filters, and tripods are essential for achieving stability and superior image quality. Expert photographers and novice enthusiasts alike are turning to online platforms for purchasing these accessories, as well as offline stores. Social media influencers and celebrities are also driving demand for high-end cameras and accessories through their sponsored posts and collaborations. The cameras accessories market also includes a range of advanced technologies such as Image Signal Processor, Optical Image Stabilization, and Electronic Image Stabilization, as well as Artificial Intelligence and Dolby Vision for enhanced image and video quality. The market is expected to continue growing as the demand for content creation and social media applications continues to rise. According to the International Telecommunication Union, there were over 4.5 billion internet users in 2020, and this number is expected to grow, leading to increased demand for cameras and accessories.
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Technavio Research
Jesse Maida
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Email: media@technavio.com
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