Market Forecast By Product (Built-in Lens Camera, Interchangeable Lens Camera, DSLR, Non-reflex) And Competitive Landscape
|Product Code: ETC363084||Publication Date: Aug 2023||Updated Date: May 2023||Product Type: Market Research Report|
|Publisher: 6Wresearch||No. of Pages: 75||No. of Figures: 35||No. of Tables: 20|
India Digital Camera Market registered a decline of -30.57% in value shipments in 2022 as compared to 2021 and an increase of 11.79% CAGR in 2022 over a period of 2017. In Digital Camera Market India is becoming more competitive as the HHI index in 2022 was 2611 while in 2017 it was 3327. 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 less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Digital Camera Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Digital Camera Market in 2022 was 53.08 while in 2017 it was 16.49. Viet Nam, China, Thailand, Japan and China, Hong Kong SAR were among the top players of the market in 2022, where Viet Nam acquired the largest market share of 42.12% with a shipment value of 516.03 million USD in 2022 Viet Nam also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 54.56% with the shipment value of 493.4 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
India 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.
India Digital Camera Market is surging in the country at a considerable rate owing to the rising various factors such as increasing income levels of the consumers, rising professional grade image demand, and a rise in the tourism sector in the country. Moreover, the rising adoption of mirrorless cameras over traditional DSLR cameras owing to their compact size and less weight is estimated to be one of the emerging trends in the country which will widen the landscape of the digital camera market in the country tremendously.
According to 6Wresearch, the India Digital Camera Market size is estimated to register a sound growth during 2023-2029. The market has been propelling in the country underpinned by social media platforms that have been gaining momentum where influencers seek high-quality videos & images to monetize their work, this factor burgeons the demand for premium quality cameras. Additionally, manufacturers are investing heavily in the development of innovative camera ranges that provide high performance with better image stabilization systems, this is anticipated to be a great opportunity for the India Digital Camera industry to grow potentially in the coming years. However, increasing replacement of cameras with smartphones due to the integration of advanced functional cameras. Nevertheless, the market still has a huge potential to grow uninterruptedly on account of a rise in the shift towards mirrorless cameras owing to their advanced features similar to DSLRs is estimated to expand the India Digital Camera Market growth in the expected years.
The COVID-19 outburst had a significant impact on the India Digital Camera Market which is a part of the Asia Pacific Digital Camera Market. During the lockdown period, people stayed at home and were socially active on digital platforms which reflected a wide scope for the cameras demand, nevertheless, the strict lockdown measures including, trade restrictions and a decline in product supply affected the product demand and further led to hampered the market growth at a massive rate.
Certain top key companies are operating considerably in the country by facilitating top-quality camera ranges. Some of the prominent names are listed below:
According to Ravi Bhandari, Research Head, 6Wresearch, the mirrorless cameras contain both built-in lens cameras and interchangeable lens cameras, this segment growth is driven by their compactness and advanced features that appeal to photography professionals.
The report offers a comprehensive study of the subsequent market segments: