Camera Accessories Market Growth And Demand Report Up To 2018: Radiant Insights, Inc
The global camera accessories market is poised to display a 4.5% CAGR over the forecast period (2013-2018). It is primarily driven by the camera market and photography enthusiasts.
San Francisco, United States – August 16, 2016 /MarketersMedia/ —
The global camera accessories market is poised to display a 4.5% CAGR over the forecast period (2013-2018). It is primarily driven by the camera market and photography enthusiasts. Demand for interchangeable camera lenses are another driving factor of the market. The proliferation of the market has seen it turn towards developing economies instead of developed countries like the US which has already shown maturity.
The market is segmented by products, applications and regions. Camera accessories are used to protect or provide special effects with the camera. These include memory cartridges, bags and cases, lenses, flashes, extenders, liquid heads, and tripods. Lenses have nearly 70% shares of the camera accessories market in 2015. It will dominate the market by the end of the forecast period. But bags & cases has the potential to overtake this segment in the years ahead.
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Applications entail entertainment & media, military, defense & aerospace, healthcare, food & beverages, and others. Entertainment & media are predicted to lead the market over the forecast period. This can be accounted to the frequent use by movie-making companies and the media industry.
Regions comprise Asia Pacific, South America, North America, Europe, and RoW (Rest of the World). North America and South America together accounted over 40% shares in the global market in 2015. Asia Pacific can lead the market in the near future on account of increased per capita spending of consumers in South Africa, China, and India.
Prominent players of the camera accessories market are Fujifilm Holdings Corp.; Sigma Corp.; Miller Camera Support Equipment; Metz-Werke GmbH & Co. KG; and Shenzhen JJC Technology Co. Ltd. Novel product launches are a surefire strategy adopted by companies to expand their reach. For instance, Miller Camera Support Equipment launched Cineline 70 fluid head aimed to target cinematographers in 2014 to bring better production value for their shots.
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