The current valuation of the Pocket Video Camera Market in 2022 is US$ 3.6 Billion and it is projected to grow at a modest CAGR of 4% within the period between 2022-2032.
| Attributes | Details |
|---|---|
| Market Valuation (2022) | US$ 3.6 Billion |
| Market Valuation (2032) | US$ 5.4 Billion |
| CAGR | 4% |
The past decade has been decisive in defining the market status of pocket video camera globally. While pocket and flip camcorders hit the market with more sales against traditional camcorders, the former has been undergoing downfall after 2010. Currently, the global pocket video camera is on decline, losing a considerable chunk of market share.
FMI’s market research outlook for the forecast period 2016-2026 indicates the sustenance of this scenario through 2026.
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The pocket video camera market’s growth prospects were greatly hampered by the popularity of smartphones in the market starting in 2007, with the introduction of the iPhone. However, there has been a recent attempt to revive the industry through the use of cutting-edge technologies. Furthermore, with greater awareness and openness to adopting new technology, the market is expected to cater to a wider customer base in the coming years.
Lack of proper awareness regarding the varied applications of pocket video cameras is a major restraint to market growth. The majority of consumers still prefer smartphones for regular videography or high-end digital cameras for filmography. Yet, by spreading awareness through advertising campaigns, the market could break into an untapped consumer base. These include YouTubers, vloggers, and others who publish their content regularly on the internet in the form of videos. Further, due to the increasing quality of the cameras, they could find wide applications for scientific journalling or in research laboratories.
Also, with increasing prices of high-end digital cameras, pocket video cameras could become a feasible alternative if marketed properly.
With rising demand for light, portable cameras, many industry giants are diverting investments to compact camera manufacturing. For instance, SONY launched the RX100, which is a compact pocket camera with an enhanced 1-inch sensor class.
Awareness and access to the latest product launch, along with high disposable income in the developed nations of the North American regions, have made it the largest regional market for pocket video cameras. Consumers in the region are more open to adopting and testing the latest technologies.
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Prominence of Smartphone and Digital Camera
The demand for pocket camcorders is constantly declining against the growing use of digital cameras and smartphones, which have gained a firm hold within the market. Although relatively lower prices and superior optical zoom remain the camcorders’ strong fortes, the emergence and widespread acceptance of the other two are expected to continue grasping more market size, contrary to camcorders.
High Video Quality Remains Secondary
According to FMI’s market research, a majority of the population that has been using a smartphone for photography as well as video recording, does not prioritise high resolution quality as long as their mobile devices allow quick capturing, easy editing and manipulation, and convenient sharing. This in turn is expected to curb the demand for camcorders in the forecast period as well.
Relatively Lower Prices
The average price of a pocket camcorder ranges between US$ 100 and US$ 300, which is a key driver expected to sustain its demand in the market. The prices are much lesser compared to digital camera and smartphone.
Rising technology advancements
Leading pocket video camera manufacturers have been introducing various advanced technologies to the market, which aim at providing unparalleled video quality, sharing options, and enhanced features. This could be a stimulant to the demand for camcorders during the forecast period.
Superior Optical Zoom
Compact size and exceptional optical zoom have played a key role in popularising pocket camcorders. While smartphones and digital cameras successfully took over pocket video cameras in terms of compact size, pocket camcorders maintain their optical zoom superiority in the market, which is projected to compel consumers to buy dedicated camcorders, in contrast to the other two.
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FMI’s report on the global pocket video camera market offers a 10-year forecast based on the segmentation of the market based on the product size and application.The market is further sub-segmented according to commercial areas, consumer segment, and others.
Apart from this, the global pocket video camera market is also divided on the basis of various price ranges such as premium, mid-size, and low price ranges. The market is further bifurcated on the basis of distribution channel, including multi-brand store, single-brand store, and online store.
Geographically, the global pocket video camera industry is divided by major regions, including North America, Latin America, Western and Eastern Europe, Asia-Pacific excluding Japan, Japan, and Middle East and Africa. North America accounts for a major market share for pocket and flip camcorders, and is predicted to maintain a considerable market size on a global level.
Pocket camera manufacturers can invest in web services, which would be complementary to photos or videos, allowing for innovative hardware capabilities, and enhanced features to cater to evolving consumer interests.
The key players identified to capture significant market shares in the global pocket video camera market include Sony Corporation, JVC Corporation, Panasonic, GoPro, Kodak, Cisco, Contour Inc., and Xiaomi. Sony and JVC remain the most sought after brands among pocket camera consumers.
Most of the leading market brands are focusing on innovative product development and brand reinforcement, which is anticipated to push the sales of pocket camera recorders in the near future. Launching of superior pocket video camera models offering ultra-HD video quality, easy shareability, and quick editing feature is expected to reevaluate the pocket camcorders market over the forecast period 2016-2026.
If the market continues to decline during the forecast period, major brands such as Sony, Canon, and Samsung might not have to face a major impact, as their adjuvant businesses will continue to bring in significant profits. However, the downfall of the pocket camcorder market will certainly pose a major influence on Nikon, being the only player that capitalises exclusively on cameras.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Pocket Video Camera Market
