Retail current value sales of imaging devices have been in decline for a decline due to the growing use of smartphones for taking photographs and recording video. While the picture quality of dedicated digital cameras and camcorders may be superior to that of smartphones, this gap is narrowing – particularly for more expensive smartphones.
During 2021, digital cameras will slightly outperform digital camcorders in terms of retail current value sales growth, with demand for the former bolstered by increased consumer interest in compact system or ‘mirrorless’ cameras, such as Canon’s EOS R6 and EOS R5, both of which were launched in 2020. These are increasingly favoured over fixed lens models, as they can take better quality pictures and have more creative settings.
Canon will remain the leading player in digital cameras in 2021, followed at some distance by Nikon and Sony. Between them, these three players will account for more than 70% of retail volume sales.
The rate of decline in retail current value sales of imaging devices will accelerate throughout the forecast period: By 2026, retail current value sales will stand at less than half of their 2021 level. Retail current value sales of digital camcorders will decline at a faster rate than those of digital cameras.
Given the threat from smartphones, connectivity and user-friendly features will remain central to innovation in imaging devices over the forecast period. The number of products offering built-in Wi-Fi and touchscreen displays is expected to increase, while compatibility with popular social media platforms and photo and video editing apps will become more important selling points.
E-commerce will continue to grow in popularity as a distribution channel in imaging devices at the expense of electronics and appliance specialist retailers during the forecast period. Local consumers are becoming more comfortable shopping online; a growing number of specialist stores are embracing e-commerce as they pivot towards an omnichannel retail model; and 5G will make online shopping faster and more accessible than ever.
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Understand the latest market trends and future growth opportunities for the Imaging Devices industry in France with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Imaging Devices research and analysis database.
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