4K Camera Market Overview, Trends, Revenue Analysis, Growth Rate and Regional Forecast 2027
Author : sneha patil | Published On : 07 Sep 2021
The global 4K camera market is proliferating, mainly due to the better quality images and videos these cameras offer. The rising adoption of 4K cameras used in various industries such as retail, consumer electronics, and defense & aerospace worldwide drives the market growth. Moreover, increasing 4K technology uses, especially in advertisement & entertainment and education sectors, escalate the market growth significantly.
According to Market Research Future (MRFR), the global 4K camera market is expected to create a valuation of approximately USD 31 BN by the end of 2023, growing at 20% CAGR throughout the assessment period (2017-2023). Over the past few years, the 4K camera demand is increasing due to rising advances in features and benefits that these cameras offer. 4K camera is increasingly garnering significant popularity, boosting its market growth.
Additionally, the increased demand for 4K cameras led by social media Vloggers and travel bloggers accelerate market sales. Another benefit of 4K cameras is that they also deliver improved situational awareness across a more comprehensive coverage area than HD, providing sharp image quality for critical monitoring. The oil & gas industry appreciates the importance of 4K cameras in offering reliability, certification standards, and longevity.
Resultantly, the adoption of the 4K camera for hazardous-area surveillance is increasing, substantiating the market valuation. However, 4K cameras have some technical issues, such as a larger anti-vibration gimbal requirement due to their larger size and heavyweight than HD models. Also, the high power consumption of 4K cameras increases the internal temperature, especially if the camera is placed in a sealed stabilizing unit, shortening the lifetime and leading even to sudden failure of the camera.
These are some of the significant factors projected to impede the market growth. Nevertheless, substantial R & D investments in technology development would support market growth throughout the assessment period, bringing various innovations that can offer lightweight solutions
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Players leading the 4K camera market include Infineon Technologies AG (Germany), Canon Pvt. Ltd (Japan), Blackmagic Design Pty. Ltd (Australia), Sony Corporation (Japan), Schneider Electric (France), Occipital, Inc (US), Sharp Corporation(Japan), Axis Communications AB (Sweden), Panasonic Corporation (Japan), and Skyworth Digital Holdings Ltd. (China), among others.
Global 4K Camera Market - Segmentations
The report is segmented into three dynamics;
By Type : Hybrid, Mirror less, DSLR Compact, and others.
By Application: Retail, Consumer Electronics, Defense & Aerospace, Advertisement & Entertainment, Education, and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global 4K Camera Market - Regional Analysis
The Asia Pacific region dominates the global 4K camera market. The largest market share attributes to the increased adoption of new technological solutions and increasing competition among players. Besides, the greater adoption of 4K cameras in burgeoning defense & aerospace and advertisement & entertainment industries boosts the regional market growth.
Moreover, increasing demand for consumer electronics and rising disposable income drive the growth of the regional market. Japan, China, South Korea, and India are the major markets for 4K cameras, contributing to the growth of the regional market. The APAC 4K camera market is projected to retain its dominance throughout the estimated period.
North America stands second in the global 4K camera market. The region is the largest importer of 4K cameras worldwide. Additionally, the market growth is driven by large technological developments, and increasing demand for better picture quality substantiates the growth of the regional market. Furthermore, the presence of major 4K camera manufacturers and considerable investments in product developments foster market growth. The North American 4K camera market is expected to create a substantial revenue pocket during the assessment period.
Europe is a sizable market for 4K cameras. Factors such as the vast contributions from the well-defined markets of the UK and Germany impact the market growth positively. Moreover, the increasing adoption of industry standards boosts the regional market growth by increasing productivity and quality while reducing the time required. The European 4K camera market is expected to witness remarkable growth during the review period.
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