According to Nikkei, citing the Camera & Imaging Products Association (CIPA) data, the global digital camera market is back, with exports up 15% in 2024 to 824.7 billion yen. That’s the highest in nine years. The reason is the growing demand from Generation Z in China who wants higher quality cameras to upload to social media.
This is mainly due to the limitations of smartphone cameras, despite all the advancements, can’t match the quality and features of dedicated digital cameras. So young consumers are going to digital cameras that have better image quality, more features and better performance. The average price has gone up fourfold in the past decade to 97,000 yen in 2024. But the added features and capabilities have made them more attractive to consumers especially in the high end.
CIPA historical data shows the global digital camera market has been fluctuating. In 2012 the market size was the same as 2024 with 824.7 billion yen exports. The market grew 15% in 2013 and peaked in 2015 to 885.4 billion yen. But the market declined with the rise of smartphone and COVID-19 pandemic in 2020.
Despite the convenience and advancements of smartphone cameras, the resurgence of digital cameras is good news, consumers especially the young generation still value the quality and features of dedicated cameras. As technology evolves, it will be fun to see how the market will react to changing consumer demands and needs.
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