Professional Video Camera Market is Expected to Reach USD 43.07 Billion by 2030
As per the report published by Kings Research, the global Professional Video Camera Market was valued at USD 35.38 billion in 2022 and is projected to reach USD 43.07 billion by 2030, growing at a CAGR of 2.55% from 2023 to 2030.
The global professional video camera market is experiencing significant growth, driven by a range of factors such as the increasing demand for high-quality video content in various industries, including film and television, advertising, and social media. Additionally, the development of advanced camera technologies, such as 4K and 8K resolution cameras, has contributed to the expanding market.
The competitive landscape is highly dynamic, with manufacturers endeavoring to produce technologically advanced, cost-effective, and portable cameras that cater to a wide range of users, from aspiring videographers to seasoned professionals. Overall, the global professional video camera market is projected to continue growing in the coming years, underpinned by the incremental demand for high-quality video content.
- Based on the resolution, the 4K segment held the largest market share in 2022 accounting for 51.04%
- Based on application, the professional segment generated the highest revenue in 2022 attributing USD 22.14 billion
- Based on components, the cine camera bodies segment dominated the revenue in 2022 accounting for USD 19.40 billion
- Based on region, North America accounted largest market share in 2022 accounting at 38.22%
New Product Launch by Sigma Corporation
September 2022 – Sigma Corporation announced the launch of a new cine lens product, SIGMA CINE LENS that is interchangeable for the production of movies.
Innovations in Digital Solutions and Components to Offer Opportunities
Advancements in technology have played a significant role in shaping the professional video camera market, driving innovation, and unlocking new capabilities for filmmakers and content creators. The shift towards digital cinematography has made it easier and cost-effective to produce high-quality video content and is observed to be one of the prominent development that has bolstered the demand for professional video cameras.
Advancements in post-production software and distribution channels have revolutionized the film and video production industry, enabling filmmakers to create, edit, and distribute their content in innovative ways. With the rise of video platforms such as YouTube, Vimeo, and other streaming services, filmmakers now have access to a broad audience that is hungry for content. This has led to an increase in demand for professional video cameras that can capture high-quality footage that can be easily edited and distributed. Additionally, advancements in post-production software have enabled filmmakers to add special effects, adjust color grading, and improve sound quality, resulting in more polished and engaging content. These developments are anticipated to offer growth opportunities for the professional video camera market.
Advancing Technology to Augment Growth in North America
In 2022, North America held the largest regional share owing to increasing demand for high-resolution streaming and broadcasting of numerous events. It is estimated that North America would reach revenue of more than USD 16.20 billion at a growth rate of 2.39%. The U.S. is the largest contributor of revenue in the region due to rapid technological developments offering best-in-class features for users. These features include automated motion detection by integrating machine learning with the camera, compact designs, and added smart features.
Increased Demand for High-Quality Videos to Drive the Market in Asia-Pacific
Asia Pacific is estimated to attribute revenue of USD 11.02 billion by 2030 with an exponential growth rate of 3.28%. The region is set to experience the highest growth rate during 2023 - 2030. Asia Pacific accounted for 24% of global revenue in 2022. China and Japan are the prominent countries owing to the presence of technological advancements and key players in the region. Japan is anticipated to experience the highest growth rate among all countries on a global scale.
Market Players Concentrating on Innovative Product Launches to Drive Market Development
The market is consolidated/fragmented with key players such as SIGMA CORPORATION, Canon Inc., Sony Corporation, Blackmagic Design Pty. Ltd., Hitachi Kokusai Electric America, Ltd., ZEISS International, Angénieux, JVCKENWOOD Corporation, IMPERX, GoPro Inc., amongst others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.