Prediction of 12.1 billion dollar growth in the camera market value by 2028

Panasonic Lumix GH5 from the back view

Analysts predict that the value of the digital camera market will grow to $12.1 billion by 2028.

According to a report by Shotkit, the value of the cameradigital camera market is expected to experience a $12.1 billion growth by 2028, while according to statistics, the value of this market was $8.2 billion in 2021. In 2021, more than eight million cameras were sold, which is 9% less than in 2020.

According to statistics, global digital camera revenue last year reached over $21 billion. Analysts predict that the camera market will grow 3.43% annually between 2022 and 2027. The highest income from the camera industry was registered in China. Chinese buyers spent a total of $5 billion.

Meanwhile, statistics show that 70% of the total camera industry sales last year were related to cameras equipped with interchangeable lenses. The popularity of these cameras is increasing over time. In just one year, sales of DSLR cameras decreased from 2.4 to 2.1 million units. In the same period, sales of mirrorless cameras rose from 2.9 to 3.1 million units. Sales of DSLR cameras have been steadily declining since 2012.

Canon, the well-established brand in the camera industry, faced a 10% increase in product sales last year. Canon’s imaging division (including cameras) accounted for 19% of the company’s net sales. Sony has held the top position for full-frame mirrorless cameras in North America for eight years. In the past four years, the Sony A7IV has been the best-selling mirrorless camera.

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