As smartphones continue to see major improvements in camera technology, such as Huawei partnering with Leica for its smartphone camera production, digital cameras is expected to be increasingly substituted by multifunctional devices such as smartphones. In the current age of social media, users often take and post photographs directly from their smartphones as it does not require one to transfer the images from the camera.
As a result of smartphone camera advancements as well as improvements in GoPro and drone photography, the demand for traditional or digital cameras and peripherals is declining. This is encouraging prominent player Nikon to shift its production focus from SLR cameras to mirrorless lens models.
Hong Kong’s increasing number of social media influencers can have a positive impact on demand for digital cameras, and in particular digital camcorders, with the latter set to record further growth over the forecast period as younger consumers record vlogs or upload on sharing platforms. This trend gained relevance during the pandemic when local consumers were unable to travel due to stringent measures to control the spread of the virus, in addition to strict quarantine measures for potential returning locals.
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Understand the latest market trends and future growth opportunities for the Imaging Devices industry in Hong Kong, China 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.
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Imaging Devices
This report originates from Passport, our Imaging Devices research and analysis database.
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