Digital Photo Frame Market | Top Drivers to Impact Market Growth
The global Digital Photo Frame Market has the potential to grow by $ 62.10 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of about 1.81% .
This digital photo frame market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by Distribution Channel (Offline and Online) and Geography (North America, Europe, APAC, South America, and MEA). The digital photo frame market report also offers information on several market vendors, including Aluratek Inc., Eastman Kodak Co., HP Inc., Koninklijke Philips NV, Lenovo Group Ltd., NETGEAR Inc., PhotoSpring Inc., Samsung Electronics Co. Ltd., Sony Corp., and ViewSonic Corp. among others.
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Digital Photo Frame Market Growth Drivers & Trends
Product innovations leading to premiumization is a key driver leading to the growth of the digital photo frame market. The rising demand for innovative products has compelled the vendors to continually engage in R&D and innovate to sustain in the competitive market environment. The customers look for digital photo frames that can perform multiple tasks such as exhibit photos as well as play videos. The rising purchasing power of customers and growing household consumption expenditure have enabled them to increase their spending on high-end home décor products, such as premium digital photo frames. This will prope the demand for premium digital photo frames and led to the growth of the market in focus.
Increasing adoption of smart/connected home system is a key factor in the growth of the digital photo frame market. The demand for smart homes and smart home décor products, such as digital photo frames, is growing rapidly. The US and Western Europe are known to be the most technologically advanced regions in the world and early adopters of modern technologies across different products. 37% growth will originate from North America and the region is expected to drive further growth during the forecast period.
Digital Photo Frame Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Aluratek Inc., Eastman Kodak Co., HP Inc., Koninklijke Philips NV, Lenovo Group Ltd., NETGEAR Inc., PhotoSpring Inc., Samsung Electronics Co. Ltd., Sony Corp., and ViewSonic Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Digital Photo Frame Market: Report Highlights:
Market Segmentation by Distribution Channel
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