A digital camera uses charged coupled device (CCD) to capture images in a digital format. These images can be stored on a memory chip and be used to produce multiple copies over time, as opposed to that of images stored in a film.
Technological advancements and increasing adoption of point-and-shoot cameras are major factors booting growth of the market currently. But, high costs and problems related with use are major factors hampering growth of the digital cameras market.
On the basis of use, the global digital cameras market is segmented into professional use and personal use. The personal use segment is anticipated to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. Also, professional use segment is projected to witness moderate growth over the forecast period.
The global digital cameras market report has been segmented on the basis of type, use, and region. On the basis of region, the global digital cameras market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to high adoption of digital imaging technologies and related technologies in countries in the region. Revenue from the market in Europe accounted for second-highest share and is closely followed by the markets in Asia Pacific, Latin America, and Middle East & Africa respectively. This is attributed to high disposable income. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. This can be attributed to rising demand for point-and-shoot cameras in emerging economies in the region. Also, the markets in Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global digital cameras market include Kyocera Corporation, Panasonic Corporation, Samsung, Sony Corporation, Canon Inc., Sanyo Electric Co., Ltd., The Ricoh Company, Ltd., Minolta Co., Ltd., Fujifilm Holdings Corporation, and Olympus Corporation.