Interchangeable Lens Camera Market size anticipated to experience significant growth from 2016 to 2023
Interchangeable lens camera market size exceeded 7 million unit shipments in 2014. The spur in industry can be attributed to increasing adoption over the forecast period.
Interchangeable lens Camera market can be further segregated into digital single lens reflex (DSLR) as well as non-reflex products. Canon dominated the market, accumulating more than 40% of the overall interchangeable lens camera market share and was projected to have steady hold of the industry. Nikon was estimated to occupy more than 30% of the global share in 2014. Sony accumulated more than 12% of the overall industry share in 2014 and is likely to gain its industry share owing to the introduction of its Alpha 7 line of high-end mirror less cameras over the forthcoming years. Other companies captured over 11% of the total industry share for the year 2014.
These products furnish professional as well as amateur photographers with significant room for experimenting with the interchangeable lenses. In addition, these also aid in getting better pictures and offers cutting edge image quality.
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Features offered by this equipment such as ease of use, major innovations and rapid digitization are anticipated to propel the industry demand. In addition, declining prices accompanied diversity in product concepts is expected to drive the market growth over the several upcoming years. Flourishing demand of from emerging economies might positively impact the industry.
Rising demand is also likely to boost the industry demand for inter changeable lenses over the forecast period. In addition, they furnish the user with numerous attributes such as convenience, efficient performance and compact size and this might drive digital single lens reflex (DSLR) and mirror less interchangeable lens camera market from 2016 to 2023.
Rapid advancements coupled with innovation in technology such as higher zoom range and touch screen are anticipated to fuel the industry growth. Furthermore, enhancement of numerous features namely wireless connectivity and HD-video recording are expected to furnish potential growth avenues to the industry participants over the forecast period. Fierce competition among the industry is expected to shrink the profit margins of various industry participants. Advent of 3D and mirror less along with integration of numerous functionalities such as wifi, GPS and Bluetooth are expected to reduce the replacement effect over the forthcoming years. Compact interchangeable lens (CILC) or mirrors less cameras are likely to experience positive spike in demand from step-up customers preferring supreme image quality accompanied by flexibility to carry the equipment without carrying the bulk of DSLR.
Asia Pacific accounted for more than 35% of global demand in 2015. India interchangeable lens camera market is likely to exhibit growth of about CAGR of 27% from 2016 to 2023. The spur in can be attributed to rising disposable income, escalating tourism, social media as well as advertising in the region over the few upcoming years. Ascending grey market coupled with substitute products such as mobiles are anticipated to hamper the industry growth of these equipments in the region.
North America interchangeable lens camera market share was estimated to accumulate around 29% of the overall industry in 2015. Rapidly increasing use of smartphones in the region is likely to hamper growth and the numbers of these users are anticipated to reach around 50% by 2015. Europe was estimated to capture more than 20% of the overall industry share in 2015. Furthermore Japan occupied around 10% of the overall market share in the year 2015.
Major industry partners occupying substantial interchangeable lens camera market share include Nikon, FujiFilm, Sony, Canon, Pentax, Panasonic Corporation and Olympus among several others.
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