Introduction of Premium Camera
A high-quality digital camera, known as a premium camera, distinguishes itself from other models with its higher price tag. These cameras are designed to deliver exceptional performance, offering features like superior image quality, advanced optics, and powerful processing capabilities.
The market for cameras within the price range of 1000-5000 USD is projected to experience significant growth. This growth can be attributed to the increasing popularity of mirrorless interchangeable lens cameras among photography enthusiasts and professional photographers. Furthermore, the rise in disposable income in emerging economies like Mexico, India, China, and Brazil has contributed to an upsurge in camera purchases, thereby driving industry growth. As consumers seek more advanced and feature-rich camera options, the market within this price range is expected to expand steadily.
$5000- 10000 Cameras
High-end cameras in the price range of 5001-10000 USD are specifically designed for professional photographers. These cameras are renowned for their exceptional performance, particularly in capturing high-quality images even in low-light situations. Moreover, they possess the capability to record high-definition (HD) videos that surpass the standard definition videos offered by other camera models currently available in the market. With their advanced features and superior image and video capabilities, these high-end cameras cater to the demanding needs of professional photographers seeking top-notch results.
- Rise in demand for HD images and videos across sectors
- Technological progress in the hardware and software of cameras
- Rising demand for premium quality cameras in developed and developing nations
- Rising number of photography lovers and novice photographers
- Rise in the number of digital platforms for content sharing
The premium camera market was ruled by North America in 2017 majorly with the presence of Canon Inc., Nikon Corporation and Sony. However, currently, Asia Pacific is expected to witness growth in the forecast time because of the rise in disposable income of customers and the rising popularity of travel and sports amongst the young population.
With the rise in awareness of high-quality premium cameras amongst amateurs and professionals, the premium camera market will witness a stupendous rise in the estimation period.
Sneha Mali, LinkedIn
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