Boston, MA – June 16, 2020 – Digital camera sales have been on the decline for the last ten years, as the saturation of smartphones has dramatically reduced the total addressable market for digital cameras. Industry vendors were already struggling to maintain profits, even before the COVID-19 pandemic hit North America.
“2020 will be 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 at 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.
The net effect for 2020 will be a 28% decline in sales. A rebound in sales is expected in 2021, with camera sales expected to generate almost $2 billion in revenue.
The 2020 North America Digital Camera Forecast report provides a six-year forecast for the North American point & shoot camera, digital single lens reflex camera, and mirrorless camera markets for units, revenues, and average selling prices. It includes an analysis of key market trends, as well as insight and advice for navigating this mature market. A breakout of US market numbers is included in the Appendix.
About Rise Above Research, LLC
Rise Above Research, LLC is an independent market intelligence and strategic consulting firm that supports industry vendors, service providers, and retailers with actionable intelligence to assist them in making effective decisions in fast-paced digital photography and imaging markets. Established in 2020 by industry veterans Ed Lee and David Haueter, Rise Above Research has extensive experience providing groundbreaking market research and strategic consulting for the digital imaging industry. Our industry analysts have a combined 40+ years of covering a wide variety of imaging markets.