COVID-19 has had a strong negative impact on sales of digital cameras. Restrictions on travel in Hungary have led to less need for digital cameras and, for many consumers, the camera in their smartphone has been enough for them.
Despite the strong sales decline of digital camcorders, there has been heightened demand among consumers for high-quality, mirrorless, interchangeable-lens cameras (MILC) for taking pictures. This rising interest has resulted from the increasing number of amateur photographers and the easing of COVID-19 restrictions in 2021.
Though the category has been in decline for many years owing to smartphone ubiquity, digital camcorders have taken further hits from the impact of COVID-19. Restrictions on social distancing have resulted in the number of celebration events falling strongly, and these events are where digital camcorders are often used.
Neither digital cameras or digital camcorders is predicted to experience a reversal in its strong decline over the forecast period. Cheaper variants in particular will face strengthening competition from smartphones, whose innovation will lead to further improvements in their cameras.
As the COVID-19 pandemic is predicted to ease over the forecast period thanks to vaccination, consumers’ lives will return to something like they were before the health crisis. The new normality will have no travel restrictions, which will keep boosting the popularity of MILC cameras among Hungarians seeking an easy-to-carry high-quality camera for their outdoor adventures.
The low demand for digital camcorders is set to worsen in the forecast period owing to the high prices set for these devices, which will be regarded by most consumers as not needed and easy replaceable with smartphones, especially in a context of economic uncertainty arising from COVID-19. Nevertheless, whilst digital camcorders will continue to record strong retail volume decline in the forecast period, the decline will not be as sharp as for digital cameras as some demand will remain amongst niche groups of consumers.
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Understand the latest market trends and future growth opportunities for the Imaging Devices industry in Hungary 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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