Mirrorless Camera Market Size Worth $2.2 Billion By 2030: IndustryARC
Research Reports
Oct 05, 2023
Mirrorless Camera Market size is predicted to reach $2.2 billion by 2030, growing at a CAGR of 4.7% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. The rising demand for high-quality content creation, particularly in the era of social media, the trends such as professional photography and the rapid development in sensor technology propel the market growth, finds IndustryARC in its recent report, titled “Mirrorless Camera Market Size, Share & Trends Analysis Report By Type (Fixed Lens & Interchangeable Lens), By Stabilization (Lens Based & Sensor Based), By Sensor Size (1/2.3”, 1″ (CX), Four Thirds, APS-C & Full Frame), By Distribution Channel (Online Stores & Offline Stores), By Region and Segment Forecasts, 2023–2030”
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Asia Pacific to Register Highest Growth:
The Mirrorless Camera industry in this region is expanding due to increasing consumer spending on electronics and rising disposable income have led to a growing demand for advanced camera technology. In addition, social media’s popularity and content creation have fueled the need for high-quality cameras, which is expected to continue. The Asia Pacific region is also home to key manufacturers of camera components, creating a favorable environment for the development and production of mirrorless cameras. These factors have positioned the Asia Pacific region as a critical growth driver in the mirrorless camera market.
Mirrorless Camera Market 2023-2030: Scope of the Report
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Report Metric |
Details |
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Base Year Considered |
2022 |
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Forecast Period |
2023–2030 |
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CAGR |
4.7% |
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Market Size in 2030 |
$2.2 billion |
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Segments Covered |
Type, Stabilization, Sensor-Used, Sensor Size, Focus System, Distribution Channel and Region |
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Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
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Key Market Players |
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Mirrorless Camera Market Report – Key Takeaways:
- Sensor-Based Stabilization Segment to Register Highest Growth
Sensor based stabilization segment is analyzed to grow with the highest CAGR of 5% during the forecast period. Sensor-based stabilization can be incorporated into the camera body, making it more compact and lightweight than lens-based stabilization. This is an important consideration for consumers who want a portable camera that is easy to carry. Sensor-based stabilization is more effective at stabilizing the image, allowing users to take sharper photos and smoother videos. It is more versatile, as it can work with any lens, whereas lens-based stabilization only works with lenses compatible with the stabilization system.
- Asia Pacific is Leading the Market
Asia Pacific region held a major market share of 51% in 2022. The region is home to some of the world’s largest consumer electronics manufacturers, such as Sony, Panasonic, Fujifilm, Nikon and Canon, all of which have a significant presence in the mirrorless camera market. Additionally, the growing trend towards content creation and social media has further fueled the demand for mirrorless cameras, particularly among younger demographics in the region. As a result, many global camera brands have focused on expanding their presence and sales in the Asia Pacific market through various strategies.
For instance, Panasonic and Leica have formed a new collaboration in May 2022, called L² (L squared) to develop cameras, lenses and imaging technology jointly. Through this collaboration, the two companies will invest in new technologies that can be incorporated into camera and lens products and incorporate jointly created technologies into each other’s Leica and Lumix products to enhance product capabilities further.
- Battery Life as a Major Challenge
The short battery life of mirrorless cameras is the primary barrier to market growth. Even the most basic DSLRs will gladly provide 600 shots per charge. On the other hand, Mirrorless cameras perform far less admirably, with around 350-400 shots per charge. Mirrorless cameras consume more power than traditional DSLR cameras due to their electronic viewfinder and the constant use of the LCD screen. This results in shorter battery life, a significant issue for photographers needing to use their cameras for extended periods. In addition, companies are working on optimizing their hardware and software to improve battery life, and simultaneously they are working on improving battery performance. For instance, Sony has introduced a new Z-series battery that promises longer battery life for its mirrorless cameras. The battery can be used with various Sony cameras and offers up to 2.2 times the capacity of previous models.
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Key Opportunity Analysis:
Integration with Drones
Due to their smaller size and lighter weight, mirrorless cameras are ideal for mounting drones with limited payload capacity. They often feature fast autofocus systems and high-speed burst rates, which can capture clear and sharp images of moving subjects from different angles and perspectives. Furthermore, the combination of mirrorless cameras and drones opens up new creative possibilities for photographers and videographers, allowing them to capture stunning aerial images and videos that were previously impossible or difficult to achieve. For instance, in 2021, Sony launched the Airpeak S1 drone, which comprises an Alpha mirrorless camera.
Emerging Applications in The Field of Virtual Reality
Mirrorless cameras offer high-resolution imaging and advanced low-light capabilities, making them suitable for capturing 360-degree images and videos for virtual reality applications. With the increasing demand for immersive content in various fields, such as entertainment, education, and tourism, the use of mirrorless cameras for virtual reality is expected to grow.
Additionally, the absence of a mirror box in mirrorless cameras allows for a wider field of view, making catching the entire scene in a single frame easier. This feature is especially beneficial when capturing content for virtual reality, where a wider field of view is necessary to create a truly immersive experience.
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The Report also Covers the Following Areas:
- Mirrorless Camera Market Size and Forecast
- Mirrorless Camera Market Trends
- Mirrorless Camera Market Analysis by Product Type
Mirrorless Camera Market 2023-2030: Key Highlights
- CAGR of the market during the forecast period 2023-2030
- Value Chain analysis of key stake holders
- Detailed analysis of market drivers and opportunities during the forecast period
- Mirrorless Camera Market size estimation and forecast
- Analysis and predictions on end users’ behavior and upcoming trends
- Competitive landscape and Vendor market analysis including offerings, developments, and financials
- Comprehensive analysis of challenges and constraints in the Mirrorless Camera Market
Covid and Ukrainian Crisis Impact:
The pandemic has considerably reduced consumer spending, particularly during the early months of the outbreak, resulting in a drop in sales and revenue. The pandemic has also disrupted the supply chain and manufacturing processes, leading to production delays and shortages of specific camera models and components. On the other hand, the pandemic has also increased demand for online content as more people spend their time at home and online. Consequently, there is an increased demand for high-quality cameras, including mirrorless models, for content creation.
The Russia-Ukraine war has broader consequences on the global economy, including energy prices, supply chains, and trade flows. These macroeconomic factors have indirectly impacted consumer purchasing power and overall demand for consumer electronics, including mirrorless cameras.
The economic sanctions imposed by Western countries against Russia could affect the supply chain of camera components, as some of these components may come from Russia or Ukraine. This could increase prices or supply shortages, negatively impacting camera manufacturers and consumers.
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List of Key Market Players in Mirrorless Camera Market:
The Global Mirrorless Camera Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
- Sony Group Corporation
- Nikon Corporation
- Panasonic Corporation
- Canon Inc.
- Fujifilm Holdings Corporation
- Olympus Corporation
- Leica Camera AG
- Pentax Corporation
- Samsung Electronics Co., Ltd
- Victor Hasselblad AB
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Contact Information:
Mr. Venkat Reddy IndustryARC Email: sales@industryarc.com USA: (+1) 518-282-4727
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