Imaging devices is faring better in 2021 after the steep losses seen in 2020, with both digital camcorders and digital cameras showing positive growth. Digital camcorders is showing slightly stronger growth, albeit comprising a smaller volume overall.
Recent advancements in technology, alongside the growing number of digital photography platforms and social media platforms, have created new hopes for the category. This is leading to multiple product launches with upgrades on features and capabilities, along with new payment methods and camera services, all driven by the growth of social media and connectivity.
Smartphone cameras, which have caused much of the decline in the category, fall short of the provisions to replace DSLR and mirrorless cameras. Smartphone cameras generally have features which use artificial intelligence (AI) and computational photography techniques, but these still lack quality, so the commercial photography industry will continue to depend on digital cameras.
One strong trend seen in recent years has been that for GoPro cameras, which are ubiquitous with sportspeople who record their sporting actions live. For example, as can be seen with various activities from skydiving to cycling.
As noted, mirrorless cameras are rising in popularity, and it is expected this trend will grow further over the forecast period. To compare the different formats, a DSLR camera works by reflecting the image from the sensor to the viewfinder via a mirror; whereas in a mirrorless camera, the sensor is exposed at all times and thus the viewfinder shows a digital image.
Whilst commercial photography will always provide demand for high-spec cameras, competition from smartphones will continue amongst the consumer audience. Smartphones lend themselves well to the era of connectivity and social media platforms, with consumers able to simply “shoot, post and share” their images with their friends and networks.
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Understand the latest market trends and future growth opportunities for the Imaging Devices industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Imaging Devices industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Imaging Devices research and analysis database.
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