Market Forecast By Product (Built-in Lens Camera, Interchangeable Lens Camera, DSLR, Non-reflex) And Competitive Landscape
Product Code: ETC363081 | Publication Date: Aug 2022 | Updated Date: May 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
China Digital Camera market currently, in 2023, has witnessed an HHI of 1093, Which has decreased slightly as compared to the HHI of 1644 in 2017. The market is moving towards highly competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
In the year 2021, Japan was the largest exporter in terms of value, followed by Thailand. It has registered a growth of 1.33% over the previous year. While Thailand registered a growth of 43.2% as compared to the previous year. In the year 2017, Korea was the largest exporter followed by Japan. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, China has the Herfindahl index of 1915 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of 1439 which signifies high competitiveness in the market.
China Digital Camera Market report thoroughly covers the market by product. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
China Digital Camera Market is estimated to augment in the country at a substantial rate underpinned by an increase in the demand for high-quality photography equipment. Furthermore, the number for mirrorless cameras demand is increasing over traditional cameras and is estimated to burgeon the growth of the digital camera market in the country. Also, the rising expansion of the e-commerce stores that shoot quality videos and photos of their products is one of the ongoing trends leaving a positive impact on the market growth.
According to 6Wresearch, the China Digital Camera Market size is estimated to register a sound growth during the 2023-2029. The market has been growing in the country owing to the rising food, travel, and fashion influencers who shoot professionally to improve their followers on their social media feeds, this increases the demand for high-end digital cameras to capture high pixel count video and photos. Additionally, manufacturers are increasingly innovating camera ranges to cater to customer's demand for clicking quality images, this is one of the ongoing factors that will accelerate the digital camera demand and further will augment China Digital Camera Market growth. On the other side, smartphones are proven as a threat to the market growth as being integrated with premium quality cameras. Nevertheless, continuous innovation with the integration of technologies into cameras that facilitate easy sharing, touchscreen features, and improved image stabilization system is estimated to leave a favorable impact on the market growth.
COVID-19 had a significant influence on the China Digital Camera Market which is a part of the Asia Pacific digital camera market. The lockdown phase had declined the demand for digital cameras, with people using their smartphones and existing cameras to record videos. Also, the ceased in the product supply underpinned by massive restrictions on trade practices had led to another cause in declining product demand at a massive rate.
Some prominent companies in the country have gained traction and still continuously innovating camera ranges to widen their product ranges to cater to customers' needs. These players are mentioned below in the list:
According to Shivankar, Research Manager, 6Wresearch, mirrorless interchangeable lens cameras (ILCs) are witnessing prominent and increasing China Digital Camera Market share due to various factors such as being small in size, lightweight, and improved image stabilization systems.
The report offers a comprehensive study of the subsequent market segments: