Camera Accessories Market (Updated Version Available)
Camera Accessories Market Size, Share & Trends Analysis, By Product Type (Lenses, Bags & Cases, Tripods, Batteries & Chargers, and Others), Sales Channel (Online and Offline), End-User (Media & Entertainment and Sports), By Region, Forecast Period 2023- 2030.
Report ID : RI_673873 | Date : May 2023 |
Format : 
Key Market Overview:
Camera Accessories Market is projected to grow from USD 3.18 Billion in 2022 to USD 8.43 Billion by 2030, at a CAGR of 13.2% during the forecast period.
Camera accessories are the equipment\'s that help in improving the quality of images captured by a camera. The utilization of camera accessories including tripod stands, lenses, filters, and external flash allows photographers to enhance their photography skills. Camera accessories are deployed to increase flexibility, stability, and the field of view in order to enable far objects appear closer and bigger. Moreover, camera accessories alter the lighting conditions in order to capture bright and high-quality images.
The growing demand for high quality cameras and accessories for content creation is driving the growth of the market. Consumers are increasingly deploying camera accessories to enhance their photography skills and capture high-quality images. Moreover, content creators are purchasing cameras with advanced features such as mirrorless cameras for producing ultra-HD video quality, with compact size and weight, and better autofocus functionality. For instance, in November 2022, Nikon India Pvt. Ltd. launched a remote grip called MC-N10 for mirrorless cameras to increase the efficiency of video recording. In conclusion, the increasing adoption of camera accessories such as remote grips, memory cards, and external flashlights to provide convenience to the photographers is driving the growth of camera accessories market.
Camera Accessories Report Coverage:
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Market Dynamics:
Driver:
The continuous advancements in camera technologies such as the development of highest-resolution full-frame cameras are driving the growth of camera accessories market. Full frame sensors allow more light and information to enter into the camera, thereby increasing the quality and sharpness of images. Full-frame cameras require long focal-length lenses that increase the demand for camera accessories to provide a shallower depth-of-field. Consequently, the development of advanced image processing software and sensor design is accelerating the growth of camera accessories market. For instance, in July 2022, Canon Inc. launched two new lightweight lenses called RF24MM F1.8 and RF15-30MM F4.5-6.3 to strengthen its RF range for mirrorless cameras. Thus, the ability of camera accessories to enhance the quality of pictures and videos is propelling the growth of the market.
Restraint:
The development of cameras with advanced features is contributing to the high initial cost of digital cameras. As a result, consumers are switching to smartphones for their photography and videography purposes, thereby limiting the growth of camera accessories. Smartphone cameras are getting more advanced with Artificial Intelligence (AI) technology, Dolby Vision, and Electronic Image Stabilization (EIS). As a result, consumers are shifting towards smartphones with high quality cameras that limits the growth of camera accessories market.
Opportunities:
The integration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in image processing is expected to present significant growth opportunities for the growth of camera accessories market. Manufacturers are focusing to enhance the resolution and image quality by developing intelligent cameras incorporated with artificial intelligence technology. Thus, the advancements in camera technology increases the demand for camera accessories that support advanced functionality and features of cameras, resulting in market growth during the forecast period.
Camera Accessories Market Segmentation:
By Product Type
Based on the product type, the market is segmented into lenses, bags & cases, tripods, batteries & chargers, and others. The lens segment accounted for the largest revenue share in the year 2022. Camera lenses play an essential role in determining the quality of images. High-quality lenses possess superior optics that capture clear, sharp and detailed images with minimal aberrations and distortions. Moreover, the utilization of lenses with a longer focal length provides higher magnification that is well-suited for wildlife and landscape photography. For instance, in September 2022, Hasselblad introduced a powerful X2D-100C camera with three new lenses XCD 2,5/90V, XCD 2,5/55V, and XCD 2,5/38V, providing high-quality photography experience for content creators. Consequently, the growing demand for HD-quality content is driving the growth of camera accessories market.
The batteries & chargers segment is anticipated to witness significant growth during the forecast period. Batteries & chargers are essential components of cameras to support advanced functionality and features of cameras. The battery life of a camera plays a crucial role in activating the imaging system, including the zoom and exposure system. Moreover, cameras use battery power for their electronic displays as well as other operations including opening and closing the mechanical shutter, autofocusing and stabilization mechanisms to provide clear and sharp images. Therefore, the ability of battery systems of cameras to provide prolonged photoshoot periods is propelling the growth of the market.
By Sales Channel
Based on the sales channel, the market is bifurcated into online and offline. The offline segment accounted for the largest revenue share in the year 2022. Consumers have a tendency to purchase expensive items such as cameras and accessories from offline stores as they provide an opportunity to test the products before purchasing. Moreover, offline stores provide a warranty for the purchase of camera accessories such as lenses and tripod stand. Additionally, salespersons in the offline stores provide guidance and instructions regarding the procedure to use camera accessories, thereby attracting a large customer base to the offline stores. For instance, in April 2022, Cannon Inc. announced the launch of an offline store based on innovative and futuristic format called Canon Image Square (CIS) 4.0 in Jaipur. The new store aims to offer unique experiences to the consumers that contributed to the growth of offline sales channel.
The online segment is expected to register the highest CAGR during the forecast period. E-commerce websites offer a wide variety of products at different price points that allow customers to browse and purchase accessories that are well-suited to their requirements. Moreover, online channels offer an opportunity to return the replace the items providing greater convenience to the customers. Consequently, the additional advantages of purchasing camera accessories online such as home delivery, easy return and replacement are contributing to the growth of the market.
By End-User
Based on end-user, the market is segmented into media & entertainment and sports industry. The media & entertainment industry accounted for the largest revenue share in the year 2022. The growing media & entertainment industry is driving the demand for cameras and its accessories with advanced features. Camera accessories such as lenses and tripod stand plays a crucial role in the entertainment industry. Tripod stands are deployed to capture static shots and dialogue scenes as it allows the camera to remain in a fixed position to capture the actor\'s performance. Moreover, lenses with different focal lengths are employed to capture moving shots in a film providing a high-quality experience to the customers.
The sports industry is anticipated to witness significant growth during the forecast period. The growing popularity of live sports events such as cricket, football, and hockey matches are accelerating the growth of the camera accessories market. Camera accessories play a crucial role in capturing the performance of players from different views and angles. The photography and videography of sports events requires digital single-lens reflex (DSLR) cameras with high continuous shooting speeds and interchangeable lenses to provide a wider view angle and capturing of zoom shots. For instance, in April 2023, Fujifilm India Pvt. Ltd. launched a broadcasting zoom lens called \"FUJINON HZK25-1000mm\" featuring 40x zoom suitable for live sports coverage. In conclusion, the growing popularity of sports events along with the ability of camera lenses to provide desired view angle is contributing to the growth of the market.
By Region:
North America accounted for the largest revenue share in the year 2022. The technological advancements in camera technologies and its accessories such as camera lenses are driving the growth of the market. Consumers are increasingly deploying high-quality cameras and accessories to capture high-definition images and videos in cinematography and live streaming of sports events. Moreover, professional photographers are purchasing lenses with high focal length for wildlife and landscape photography that further results in the markets\' expansion. Additionally, the increasing demand for camera accessories to create high-quality content as a result of rising social media platforms is propelling the growth of the market.
The Asia-Pacific region is expected to witness fastest CAGR growth during the forecast period. The rising trend of social media platforms in the region is facilitating consumers to create high-quality content. As a result, consumers are increasingly purchasing camera accessories such as tripods, ring lights, and external flash systems resulting in the market growth. Moreover, the growing entertainment & media industry in the Asia-Pacific region is increasing the demand for cameras with advanced features such as High Dynamic Range (HDR), high-aperture quality and autofocus technologies that further accelerates the growth of camera accessories market. For instance, in April 2023, RED Digital Cinema, LLC. introduced RED Connect Module for V-RAPTOR XL and V-RAPTOR cameras suitable for 8K live cinematic streaming. Consequently, the utilization of high quality cameras for photography purposes is boosting the growth of the regional market.
Camera Accessories Market Competitive Landscape:
The camera accessories market is highly competitive with a large number of vendors providing camera accessories such as tripods, lenses, and batteries. Furthermore, the major players are taking initiatives in various business strategies such as product innovation, Research and Development (R&D), and application launches have accelerated the growth of the camera accessories market. Key players in the market include-
• Canon Inc.
• Nikon Corporation
• Sony Corporation
• Olympus Corporation
• Panasonic Corporation
• Fujifilm Holdings Corporation
• Casio Computer Co. Ltd.
• Sigma Corporation
• Hitachi Ltd.
• RED Digital Cinema LLC
Recent Developments:
• In November 2022, Fujifilm Corporation launched interchangeable lens called \"FUJINON XF30mmF2.8 R LM WR Macro\" designed for mirrorless digital cameras producing high image quality.
• In September 2020, Olympus Corporation announced the launch of OM-D E-M10 Mark IV interchangeable lens camera to capture blur-free and high-quality images.
Camera Accessories Market is projected to grow from USD 3.18 Billion in 2022 to USD 8.43 Billion by 2030, at a CAGR of 13.2% during the forecast period.
Camera accessories are the equipment\'s that help in improving the quality of images captured by a camera. The utilization of camera accessories including tripod stands, lenses, filters, and external flash allows photographers to enhance their photography skills. Camera accessories are deployed to increase flexibility, stability, and the field of view in order to enable far objects appear closer and bigger. Moreover, camera accessories alter the lighting conditions in order to capture bright and high-quality images.
The growing demand for high quality cameras and accessories for content creation is driving the growth of the market. Consumers are increasingly deploying camera accessories to enhance their photography skills and capture high-quality images. Moreover, content creators are purchasing cameras with advanced features such as mirrorless cameras for producing ultra-HD video quality, with compact size and weight, and better autofocus functionality. For instance, in November 2022, Nikon India Pvt. Ltd. launched a remote grip called MC-N10 for mirrorless cameras to increase the efficiency of video recording. In conclusion, the increasing adoption of camera accessories such as remote grips, memory cards, and external flashlights to provide convenience to the photographers is driving the growth of camera accessories market.
Camera Accessories Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | USD 8.43 Billion |
| CAGR (2023-2030) | 13.2 % |
| Base Year | 2022 |
| By Product Type | Lenses, Bags & Cases, Tripods, Batteries & Chargers, and Others |
| By Sales Channel | Online and Offline |
| By End-Use | Media & Entertainment and Sports |
| By Geography |
|
| Key Players | Canon Inc., Nikon Corporation, Sony Corporation, Olympus Corporation, Panasonic Corporation, Fujifilm Holdings Corporation, Casio Computer Co. Ltd., Sigma Corporation, Hitachi Ltd., RED Digital Cinema LLC |
Market Dynamics:
Driver:
The continuous advancements in camera technologies such as the development of highest-resolution full-frame cameras are driving the growth of camera accessories market. Full frame sensors allow more light and information to enter into the camera, thereby increasing the quality and sharpness of images. Full-frame cameras require long focal-length lenses that increase the demand for camera accessories to provide a shallower depth-of-field. Consequently, the development of advanced image processing software and sensor design is accelerating the growth of camera accessories market. For instance, in July 2022, Canon Inc. launched two new lightweight lenses called RF24MM F1.8 and RF15-30MM F4.5-6.3 to strengthen its RF range for mirrorless cameras. Thus, the ability of camera accessories to enhance the quality of pictures and videos is propelling the growth of the market.
Restraint:
The development of cameras with advanced features is contributing to the high initial cost of digital cameras. As a result, consumers are switching to smartphones for their photography and videography purposes, thereby limiting the growth of camera accessories. Smartphone cameras are getting more advanced with Artificial Intelligence (AI) technology, Dolby Vision, and Electronic Image Stabilization (EIS). As a result, consumers are shifting towards smartphones with high quality cameras that limits the growth of camera accessories market.
Opportunities:
The integration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in image processing is expected to present significant growth opportunities for the growth of camera accessories market. Manufacturers are focusing to enhance the resolution and image quality by developing intelligent cameras incorporated with artificial intelligence technology. Thus, the advancements in camera technology increases the demand for camera accessories that support advanced functionality and features of cameras, resulting in market growth during the forecast period.
Camera Accessories Market Segmentation:
By Product Type
Based on the product type, the market is segmented into lenses, bags & cases, tripods, batteries & chargers, and others. The lens segment accounted for the largest revenue share in the year 2022. Camera lenses play an essential role in determining the quality of images. High-quality lenses possess superior optics that capture clear, sharp and detailed images with minimal aberrations and distortions. Moreover, the utilization of lenses with a longer focal length provides higher magnification that is well-suited for wildlife and landscape photography. For instance, in September 2022, Hasselblad introduced a powerful X2D-100C camera with three new lenses XCD 2,5/90V, XCD 2,5/55V, and XCD 2,5/38V, providing high-quality photography experience for content creators. Consequently, the growing demand for HD-quality content is driving the growth of camera accessories market.
The batteries & chargers segment is anticipated to witness significant growth during the forecast period. Batteries & chargers are essential components of cameras to support advanced functionality and features of cameras. The battery life of a camera plays a crucial role in activating the imaging system, including the zoom and exposure system. Moreover, cameras use battery power for their electronic displays as well as other operations including opening and closing the mechanical shutter, autofocusing and stabilization mechanisms to provide clear and sharp images. Therefore, the ability of battery systems of cameras to provide prolonged photoshoot periods is propelling the growth of the market.
By Sales Channel
Based on the sales channel, the market is bifurcated into online and offline. The offline segment accounted for the largest revenue share in the year 2022. Consumers have a tendency to purchase expensive items such as cameras and accessories from offline stores as they provide an opportunity to test the products before purchasing. Moreover, offline stores provide a warranty for the purchase of camera accessories such as lenses and tripod stand. Additionally, salespersons in the offline stores provide guidance and instructions regarding the procedure to use camera accessories, thereby attracting a large customer base to the offline stores. For instance, in April 2022, Cannon Inc. announced the launch of an offline store based on innovative and futuristic format called Canon Image Square (CIS) 4.0 in Jaipur. The new store aims to offer unique experiences to the consumers that contributed to the growth of offline sales channel.
The online segment is expected to register the highest CAGR during the forecast period. E-commerce websites offer a wide variety of products at different price points that allow customers to browse and purchase accessories that are well-suited to their requirements. Moreover, online channels offer an opportunity to return the replace the items providing greater convenience to the customers. Consequently, the additional advantages of purchasing camera accessories online such as home delivery, easy return and replacement are contributing to the growth of the market.
By End-User
Based on end-user, the market is segmented into media & entertainment and sports industry. The media & entertainment industry accounted for the largest revenue share in the year 2022. The growing media & entertainment industry is driving the demand for cameras and its accessories with advanced features. Camera accessories such as lenses and tripod stand plays a crucial role in the entertainment industry. Tripod stands are deployed to capture static shots and dialogue scenes as it allows the camera to remain in a fixed position to capture the actor\'s performance. Moreover, lenses with different focal lengths are employed to capture moving shots in a film providing a high-quality experience to the customers.
The sports industry is anticipated to witness significant growth during the forecast period. The growing popularity of live sports events such as cricket, football, and hockey matches are accelerating the growth of the camera accessories market. Camera accessories play a crucial role in capturing the performance of players from different views and angles. The photography and videography of sports events requires digital single-lens reflex (DSLR) cameras with high continuous shooting speeds and interchangeable lenses to provide a wider view angle and capturing of zoom shots. For instance, in April 2023, Fujifilm India Pvt. Ltd. launched a broadcasting zoom lens called \"FUJINON HZK25-1000mm\" featuring 40x zoom suitable for live sports coverage. In conclusion, the growing popularity of sports events along with the ability of camera lenses to provide desired view angle is contributing to the growth of the market.
By Region:
North America accounted for the largest revenue share in the year 2022. The technological advancements in camera technologies and its accessories such as camera lenses are driving the growth of the market. Consumers are increasingly deploying high-quality cameras and accessories to capture high-definition images and videos in cinematography and live streaming of sports events. Moreover, professional photographers are purchasing lenses with high focal length for wildlife and landscape photography that further results in the markets\' expansion. Additionally, the increasing demand for camera accessories to create high-quality content as a result of rising social media platforms is propelling the growth of the market.
The Asia-Pacific region is expected to witness fastest CAGR growth during the forecast period. The rising trend of social media platforms in the region is facilitating consumers to create high-quality content. As a result, consumers are increasingly purchasing camera accessories such as tripods, ring lights, and external flash systems resulting in the market growth. Moreover, the growing entertainment & media industry in the Asia-Pacific region is increasing the demand for cameras with advanced features such as High Dynamic Range (HDR), high-aperture quality and autofocus technologies that further accelerates the growth of camera accessories market. For instance, in April 2023, RED Digital Cinema, LLC. introduced RED Connect Module for V-RAPTOR XL and V-RAPTOR cameras suitable for 8K live cinematic streaming. Consequently, the utilization of high quality cameras for photography purposes is boosting the growth of the regional market.
Camera Accessories Market Competitive Landscape:
The camera accessories market is highly competitive with a large number of vendors providing camera accessories such as tripods, lenses, and batteries. Furthermore, the major players are taking initiatives in various business strategies such as product innovation, Research and Development (R&D), and application launches have accelerated the growth of the camera accessories market. Key players in the market include-
• Canon Inc.
• Nikon Corporation
• Sony Corporation
• Olympus Corporation
• Panasonic Corporation
• Fujifilm Holdings Corporation
• Casio Computer Co. Ltd.
• Sigma Corporation
• Hitachi Ltd.
• RED Digital Cinema LLC
Recent Developments:
• In November 2022, Fujifilm Corporation launched interchangeable lens called \"FUJINON XF30mmF2.8 R LM WR Macro\" designed for mirrorless digital cameras producing high image quality.
• In September 2020, Olympus Corporation announced the launch of OM-D E-M10 Mark IV interchangeable lens camera to capture blur-free and high-quality images.
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| Multi user | : $5460 |
| Corporate user | : $7460 |
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