Digital cameras and social media don’t seem to have the closest relationship. Why use a camera to take a photo when you’ll have to use another device to post it online? When your phone does both, it’s hard to see the logic in that.
Surprisingly, a study from Zion Market Research is estimating that the digital camera industry will grow by six per cent over the next five years. That might not sound like much. But considering that 2016 was the worst year for digital camera sales in the past 15 years, it is definitely significant.
A lot of the expected growth will likely take place in Asia, due to increased earnings and more interest in photography. North America will follow shortly after. North America and Europe will experience the most growth when consumers start replacing their current cameras.
The biggest driver of growth for all markets, though, will be social media. As the popularity of sites and applications like Instagram, Facebook and Pinterest increases, so does the demand for digital photography. Aside from cameras, the demand for editing software is also on the rise.
Part of the reason why digital cameras are on the rise is because they allow consumers to take more professional quality images on their own. Zion suggests that the capacity of digital cameras to do so many things is also increasing their popularity. Cars are now filled with cameras, and aside from that use, cameras are used in business, science, security, recreation and data storage. Of course, cameras used for art and in professional photography will be a part of the overall growth, too.
The improving quality of smartphone cameras could still get in the way, though. That said, markets like sports and events will keep the camera industry in business, according to Zion’s report.
Whether or not Zion’s predictions are accurate, there are tons of studies that suggest similar things. Social media has helped increase an overall interest in photography. Photography is more popular than it has ever been. The problem is that whether or not that increased interest will push consumers to invest in cameras, instead of just reaching for their phones.
Article source: digitaltrends.com
Featured image source: socialcoopmedia.com