According to Cognitive Market Research, the global photography equipment market size will be USD 50251.5 million in 2024. It will rise at a compound annual growth rate (CAGR) of 7.8% between 2024 and 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 20100.6 million in 2024 and will climb at a compound annual growth rate (CAGR) of 6% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 15075.5 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 11557.9 million in 2024 and will climb at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 2512.6 million in 2024 and will climb at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1005 million in 2024 and will climb at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
The premium category is the fastest-growing price range segment of the photography equipment industry.
