Report : Europe Digital Camera Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Compact Digital Camera, Bridge Camera, DSLR Camera, Mirrorless Camera, Digital Rangefinder Camera, and Line-Scan Camera) and End user (Personal and Professional)
Professional Segment to Dominate Europe Digital Camera Market during 2020–2028
According to a new market research study on “Europe Digital Camera Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User,” is expected to reach US$ 2,734.02 million by 2028 from US$ 1,986.10 million in 2021. The market is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report provides trends prevailing in the Europe digital camera market along with the drivers and restraints pertaining to the market growth. Expanding applications of digital cameras in entertainment, media, and sports industries is the major factor driving the growth of the Europe digital camera market. However, introduction of premium smartphones and high cost associated with the digital cameras hinder the growth of Europe digital camera market.
In Europe, currently the UK and Russia are the hardest-hit countries by the coronavirus pandemic. It is estimated to suffer an economic hit due to a lack of revenue from various industries, as the country recorded the highest number of coronavirus cases followed by France, Spain, Italy, and Germany. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. The government in various countries like Italy and Spain had imposed complete lockdown in various areas for multiple weeks, which affected the business activities in these countries. Businesses in the above-mentioned countries either had to suspend their operations or reduce their activities in a substantial manner which resulted in supply and demand disruptions and thus affected the sales of companies operating in the region. As the region has abundant tourist and heritage places for individuals to plan their trips and capture beautiful memories with the help of these high-end camera, the growth prospective of digital cameras is broad in this region, however, as the cases in various European countries are high, the growth of digital cameras might get disrupted in 2020.
The market for digital camera market is segmented into type, end user, and country. Based on type, the market is segmented into compact digital camera bridge camera (including super zoom cameras), digital single lens reflex (DSLR) camera, mirrorless cameras, digital rangefinder cameras, and line-scan camera. In 2020, the digital single lens reflex (DSLR) camera segment held the largest share Europe digital camera market. Based on application, the digital camera market is categorized into personal and professional. In 2020, the professional segment held the largest share Europe digital camera market. Based on country, the market is segmented into Germany, France, Italy, UK, Russia, Rest of Europe
Canon Inc; Eastman Kodak Company; FUJIFILM Holdings Corporation; Hasselblad; Leica Camera AG; Nikon Corporation; OM Digital Solutions Corporation; Panasonic Corporation; RICOH IMAGING COMPANY, LTD.; Sony Corporation; are among the leading companies in the Europe digital camera market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, FUJIFILM Holdings Corporation had announced about the launch of FUJIFILM GFX100S in late February 2021. The camera is latest addition to the GFX Series of mirrorless digital cameras
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