Boston, MA—It’s no secret that digital camera sales have declined for the last 10 or so years. The decline is generally attributed to the saturation of smartphones, which have dramatically reduced the total addressable market for digital cameras. Consequently, imaging industry vendors were already struggling to maintain profits before the Covid-19 pandemic hit North America. However, all the forecasts are not dim.
“2020 will prove an extremely challenging year for digital camera vendors, primarily due to the negative effects of the Covid-19 pandemic,” said Ed Lee, director and founder of Rise Above Research. “Nevertheless, we expect that the camera market will show signs of recovery in time for the important holiday shopping season,” he added.
North American Digital Camera Sales Forecast
According to Rise Above, the net effect for 2020 will be a 28% decline in sales. However, the analysts project a rebound in sales in 2021; the research firm projects camera sales will generate almost $2 billion in revenue in 2021.
The 2020 North America Digital Camera Forecast report provides a six-year forecast for the North American point-and-shoot camera, digital single-lens reflex camera, as well as mirrorless camera markets. It provides projections in units, revenues and average selling prices (ASPs).
In addition, the study includes an analysis of key market trends, as well as insights and advice for navigating this mature market. Also included in the appendix is a breakout of U.S. market numbers.
Rise Above Research
Rise Above Research, LLC, is an independent market intelligence and strategic consulting firm. It supports industry vendors, service providers as well as retailers; it provides them with actionable intelligence to assist them in making effective decisions in the digital photography and imaging markets.
Rise Above Research was established in 2020. Industry veterans Ed Lee and David Haueter are its cofounders. Both have extensive experience providing market research and strategic consulting for the digital imaging industry. Its industry analysts have a combined 40+ years of experience covering a variety of imaging markets.