Digital Movie Cameras Market Expected to Reach $11 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Digital Movie Cameras Market By Video Resolution (4K / 8K Resolution, Full HD Resolution (1080)), By Application (Amateur, Professional): Global Opportunity Analysis And Industry Forecast, 2022-2031". The digital movie cameras market was valued at $7.2 billion in 2021, and is estimated to reach $11 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.

Digital movie camera means a movie camera which captures the video images digitally instead of using analog film stock. Digital cameras are capable of capturing high-definition videos in various formats including HDTV 1080p and Ultra High Definition (UHD) 4096 x 23040-pixel resolution. A digital cinema camera is a motion picture camera explicitly designed for bagging images used in current digital movie projection. Budding entertainment industry and an increasing number of independent media houses and streaming services are factors that drive the digital movie cameras market size. The major boosting factors behind the growth of entertainment industry are the increase of per capita income, lifestyle upgradation and prevalent implementation of digitalization. Digital videos are very popular among people who share and upload them via social media platforms like YouTube and Instagram, playing an important role in boosting the market growth. However, high cost associated with digital movie cameras market trends hampers the digital movie cameras market growth. Conversely, technological advancements in digital movie cameras, digital film cameras, and digital cinema cameras is expected to create lucrative digital movie cameras industry opportunity.

By video resolution, the market is fragmented into 4K/8K Resolution and full HD resolution. The full HD resolution segment dominated in terms of the digital movie cameras market share contribution, whereas the 4K/8K resolution segment is anticipated to have the fastest growth rate during the forecast period. On the basis of application, the digital movie cameras market analysis is segregated into amateur and professional. The professional segment dominated the market in 2021, while the amateur segment will have the dominant growth rate during the forecast period. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. While North America held the dominant market share in 2021, Asia-Pacific is anticipated to grow at a faster rate in the forecast period.

COVID-19 has largely affected the consumer’s purchasing power and economy. On the supply-side, the temporary shutting down of manufacturing hubs of electronic, media and entertainment, and automotive products has majorly affected the supply chain of digital movie camera market by creating shortages of materials and finished goods. Company revenues and shareholder returns witnessed significant negative impact due to lack of business continuity. Government restrictions on movement and additional focus on safety reduced demand for digital movie cameras from the media and entertainment industry as well as from individuals. This was also a result of various capital budget reductions and postponement of projects in end-user industries. However, key players in the market have now shifted towards an agile supply chain network model consisting of multiple pathways which prevent single points of failure. This is expected to help them to be better at balancing costs with assurances of sustainability and business continuity. This includes shifting from single country hubs to extensive regional supply networks, which in-turn is likely to start collaborative partnerships and industry associations.

Key Findings of the Study

• In 2021, the full HD resolution segment accounted-for maximum revenue, while the 4K/8K resolution segment is projected to grow at a notable CAGR during the forecast period.
• In 2021, the professional segment was the dominant segment of the market, whereas the amateur segment is estimated to witness higher growth rate during the forecast period.
• In 2021, North America contributed for the major share of the digital movie camera market, while Asia-Pacific region is expected to expand at the fastest rate during the forecast years.

The key players profiled in the digital movie cameras market are Canon Inc., Sony Corporation, JVCKENWOOD Corporation, Panasonic Corporation, ARRI AG, Red Digital Cinema, LLC., Vision Research Inc, Kinefinity Inc, Nikon Corporation and Blackmagic Design Pty. Ltd. Several different strategies have been adopted by these players to expand their foothold in the market and introduce advanced digital film cameras. These strategies include business expansion, launch of new products, acquisitions, and business expansion.