Latest News- Mirrorless Camera Market: Interchangeable lens is expected to lead the Type segment during 2024-2028
The Mirrorless Camera Market is being driven by New product launches in mirrorless cameras
The Mirrorless Camera Market is expected to grow at a CAGR of 7.05% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.25 billion. Mirrorless cameras are experiencing significant online sales growth due to the increasing prevalence of the internet. Consumers are drawn to the convenience of shopping from home, attractive discounts, and improved payment and return policies. In emerging markets, the availability of high-end mirrorless cameras is expanding through strategic partnerships between manufacturers and e-commerce retailers. Olympus Corp., a leading mirrorless camera producer based in Japan, has entered the digital marketplace by launching its own website for direct sales. This omnichannel approach allows manufacturers to reach a broader customer base and cater to their evolving preferences.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Interchangeable lens, Fixed lens) Distribution Channel (Offline, Online) Geography (APAC, Europe, North America, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Mirrorless Camera Market Research Report
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The mirrorless camera market is witnessing significant growth, with mirrorless cameras surpassing DSLR cameras in terms of shipments. This trend is driven by the advanced features of mirrorless cameras, such as electronic viewfinders, high-resolution sensors, and hybrid autofocus systems. Vloggers and social media platforms are also fueling the demand for mirrorless camera products, which offer superior image quality and burst shooting capabilities. The smartphone industry's increasing focus on camera technology is also driving innovation in mirrorless cameras, with connectivity and AI capabilities becoming essential features. Travel photographers and videographers are particularly drawn to the compact size and versatility of mirrorless cameras, which can be paired with multiple lenses, including full-frame sensors and mirrorless lenses. The optical assembly of mirrorless cameras, which replaces the mirror and prism system of DSLRs with an electronic viewfinder, enhances the photographic experience. While photographic film and digital media continue to coexist, mirrorless cameras offer the advantage of instant feedback and greater creative control.
The mirrorless camera market is a significant segment of the global consumer electronics industry, falling under the household durables market umbrella. According to Technavio's market research, this market encompasses manufacturers and marketers of mirrorless cameras, electronic viewfinders, and related accessories. This sector is distinct from the global technology hardware, storage, and peripherals market, which covers mobile phones, PCs, and gaming devices. The global household durables market size is determined by the consolidated revenues of consumer electronics, furnishings and decorative products, household appliances, and homeware industries. Mirrorless cameras, as a subset of digital cameras, face increasing competition from DSLR cameras, smartphones, and social media platforms favored by vloggers. The autofocus system is a key technology driving innovation in mirrorless cameras, enhancing user experience and market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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