Summary
The India Digital Camera Market is segmented by sales channel (online and offline). Factors such as rising social media users, growth of India tourism industry, ongoing technological advancements, and rise in demand for mirrorless lens are driving the growth of India Digital Camera Market.
Market Overview
India Digital Camera Market Overview
The India Digital Camera Market reached USD 1.3 billion in 2023, registering a Compound Annual Growth Rate (CAGR) of 1.6% during the historic period from 2018 to 2023. The market is expected to further expand, reaching USD 1.8 billion by 2029 with a projected CAGR of 4.93% during the forecast period 2023–2030. Rising social media usage, the growth of India’s tourism industry, continuous technological advancements, and the increasing demand for mirrorless lenses are some of the key factors driving market growth. Major players operating in the India Digital Camera Market include Sony, Canon, GoPro, Samsung, LG, and Nikon.
India Digital Camera Market Definition
India Digital Camera Market Definition: In this report, the India Digital Camera Market is based on revenue generated in USD Bn, which comprises of both online and offline sales, spending by consumers (B2C) and enterprises (B2B). The market is segmented by sales channel (online and offline). The report encompasses of all the major players such as Sony, Canon, Samsung, GoPro, LG, and Nikon. Additionally, the report will analyze market future projections, industry analysis, and key factors influencing India Digital Camera Market.
Taxonomy
India Digital Camera Market Size
The India digital camera market experienced gradual growth between 2018 and 2023, expanding from USD 1.2 billion to USD 1.3 billion, reflecting a modest Compound Annual Growth Rate (CAGR) of 1.6%. However, during 2020 and 2021, the market witnessed stagnation, maintaining a steady valuation of USD 1.0 billion in both years. This slowdown was primarily driven by the adverse effects of the COVID-19 pandemic, which caused widespread economic uncertainties, disrupted supply chains, and reduced consumer spending power. Furthermore, the rapid advancement of smartphone camera technology emerged as a strong substitute, limiting consumer inclination toward purchasing standalone digital cameras. Despite these challenges, the market showed signs of recovery in 2023, supported by improving economic conditions, pent-up demand, and the introduction of innovative camera models by leading manufacturers. Technological progress, such as the development of high-resolution sensors and enhanced connectivity features, helped rekindle interest among photography enthusiasts and professionals alike. While the digital camera market in India faced temporary setbacks due to the pandemic and intense competition from smartphones, its long-term potential remains promising, sustained by continuous innovation and shifting consumer preferences toward high-quality imaging experiences.
India Digital Camera Market Industry Analysis
India Digital Camera Market Segmentation, 2023
India Digital Camera Market Segmentation, by Sales Channel, (revenue in %) 2023
In the Indian digital camera market, sales are primarily driven through two key channels: offline and online. Offline channels, consisting of physical retail stores, dominate the market with a substantial 90% share, while online channels, including e-commerce platforms, account for the remaining 10%. This dominance of offline channels can be attributed to several factors. Traditional retail continues to play a crucial role in India, as consumers often prefer a hands-on experience before making a purchase. Additionally, the extensive presence of brick-and-mortar stores ensures easy accessibility to digital cameras across various geographic regions. Although online platforms provide convenience and competitive pricing, concerns over product authenticity and post-sales support continue to shape consumer preferences, further reinforcing the dominance of offline sales channels in the Indian digital camera market.
India Digital Camera Market Future Outlook (in USD Bn), 2023-2030
The India digital camera market, valued at USD 1.3 billion in 2023, is projected to expand to USD 1.8 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 4.93% during the forecast period. This growth can be attributed to several factors. Rising disposable incomes and increasing urbanization are expected to drive consumer spending on electronic devices such as digital cameras. Additionally, technological advancements in digital imaging, including higher resolution sensors and enhanced image stabilization, are likely to attract consumers seeking superior photography experiences. The growing popularity of social media platforms and the rise of content creation are also anticipated to fuel demand among amateur photographers and influencers. Furthermore, the integration of innovative features like augmented reality (AR) and virtual reality (VR) capabilities in digital cameras is expected to further stimulate market growth by offering unique and immersive photography experiences. Collectively, these factors are set to drive the sustained expansion of the India digital camera market in the coming years.
India Digital Camera Market Company Profile
| Company Name | Establishment year | Description |
|---|---|---|
Sony | 1946 | Sont was established in 1946 as Tokyo Tsushin Kogyo by Masaru Ibuka and Akio Morita. This electronics company, known for creating products such as the transistor radio TR_55, the home video-tape recorder CV-2000, the portable audio player Walkman, and the compact disc player CDP-101, embarked on diverse business ventures. The company also introduced the home video game console PlayStation. In Japan, Sony transformed into a holding company, handing over the name Sony Corporation to its subsidiary electronics company. Sony is the largest manufacturer of image sensors, the second largest camera manufacturer, and is among the semiconductor's sales leaders. |
Nikon | 1917 | Nikon Corporation is a Japanese optics and photographic equipment manufacturer headquartered in Tokyo, Japan. The companies held by Nikon form the Nikon Group. Nikon's products include cameras, camera lenses, binoculars, microscopes, ophthalmic lenses, measurement instruments, rifle scopes, spotting scopes, and equipment related to semiconductor fabrication, such as 'steppers' used in the photolithography steps of such manufacturing. Nikon is the world's second largest manufacturer of such equipment. The company is the eighth largest chip equipment maker as reported in 2017. Also, it has diversified into new areas like 3D printing and regenerative medicine to compensate for the shrinking digital camera market. |
Canon | 1937 | Canon Inc. is a Japanese multinational corporation headquartered in Ōta, Tokyo, specializing in optical, imaging, and industrial products, such as lenses, cameras, medical equipment, scanners, printers, and semiconductor manufacturing equipment. Canon has a primary listing on the Tokyo Stock Exchange and is a constituent of the TOPIX Core 30 and Nikkei 225 indexes. It used to have a secondary listing on the New York Stock Exchange. |
Samsung | 1938 | Samsung Group is a South Korean multinational manufacturing conglomerate headquartered in Samsung Digital City, Suwon, South Korea. It comprises numerous affiliated businesses, most of them united under the Samsung brand, and is the largest South Korean chaebol (business conglomerate). As of 2020, Samsung has the eighth-highest global brand value. Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities, and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s. |
India Digital Camera Market Macroeconomic Indicators
India's population is currently 1437 million in 2023, increasing by 30 million from 1407 million in 2022. By the end of 2025, India's population is predicted to reach 1500 million.
In the year 2020, The population between the 25-49 age group is the largest age group (36.40%) in India followed by 0-14 (26.40%), 50+ (19.40%), and 15-24 (18%).
In 2023, India's GDP was valued at USD 3732 billion, up from USD 2710 billion in 2018. The country’s GDP is expected to reach 5000 billion by the end of 2025.
In 2023, India’s Inflation rate stands at 5.66 % an increase of approximately 2.5% from the 2018 inflation rate of 3.94%. During the COVID-19 pandemic in 2020, the inflation rate in India surged unexpectedly to 6.62% from 3.72% in 2019.
As of 2023, India comprises of majority of the middle-class population which is 57% of the total population of India. After the middle class comes the lower-class category which comprises 33% of the total population of India. The remaining 10% of the population belongs to a high-income class.
Frequently Asked Questions
Find quick answers to the most common queries about India’s evolving digital camera market, covering insights on market trends, key players, technological advancements, and future growth opportunities.