Digital Photography Global Market Report 2024

The digital photography market size has grown strongly in recent years. It will grow from $50.71 billion in 2023 to $53.84 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historical period can be ascribed to the integration of smartphones, the influence of social media, internet connectivity, the development of software, and the presence of e-commerce in the photography gear industry.

The digital photography market size is expected to see strong growth in the next few years. It will grow to $66.68 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The forecasted growth in the upcoming period can be credited to the incorporation of artificial intelligence in imaging, the emergence of virtual and augmented reality photography, the rise of subscription-based photography services, the utilization of blockchain for copyright protection, and the focus on sustainability in camera manufacturing. Significant trends anticipated in the forecast period encompass advanced sensor technologies, continuous camera innovation, the integration of NFTs and digital art in photography, the expansion of 360-degree and VR photography, and the promotion of inclusive and diverse imagery.

The increasing global population of smartphone users is set to drive the digital photography market in the foreseeable future. Smartphone users utilize devices that integrate cellular telephony with computer-such as functions, including an operating system, software program execution, and internet browsing. Smartphones have become the primary cameras for many individuals due to their convenience, portability, and increasingly advanced camera capabilities. This widespread adoption of smartphones for photography has resulted in broader user engagement in digital photography. For example, as of 2023, the Global System for Mobile Communications Association reported that over 5.4 billion people worldwide had subscribed to mobile services by the end of 2022, with an additional 4.4 billion using mobile internet. Furthermore, smartphone connections accounted for 76% in 2022 and are projected to reach 92% by 2030. Hence, the increasing number of smartphone users worldwide is anticipated to drive the digital photography market.

The expansion of e-commerce is poised to fuel the growth of the digital photography market in the coming years. E-commerce involves the online buying and selling of goods and services, encompassing transactions, electronic payments, and digital interactions between businesses and consumers. The surge in e-commerce has generated a heightened demand for high-quality product photography, prompting businesses and individuals asuch as to invest in digital photography equipment. For instance, as of November 2023, the U.S. Census Bureau reported a 7.6% increase in e-commerce estimates for the third quarter of 2023 compared to the same period in 2022. E-commerce sales constituted 15.6% of total sales in the third quarter of 2023. Consequently, the growth of e-commerce is expected to propel the digital photography market.

Digital photography is currently witnessing a significant trend of product innovations in the market. Key players in the digital photography sector are actively engaged in developing groundbreaking solutions to enhance their market positioning. For instance, in September 2022, Sweden-based Victor Hasselblad AB, a renowned manufacturer of cameras, photography equipment, and image scanners, introduced the X2D 100C camera along with three new lenses to expand the XCD family - namely, the XCD 2,5/38V, XCD 2,5/55V, and XCD 2,5/90V. These additions were designed to elevate the video-making experience by offering substantial technical improvements in image quality, camera handling, and system responsiveness. The new lenses, characterized by a compact and lightweight build, maintain the exceptional optical performance associated with Hasselblad. The updated focusing module, equipped with a stepping motor, ensures faster and more precise autofocus. Additionally, the redesigned leaf shutter is more streamlined and facilitates flash sync at all speeds.

Major players in the digital photography market are directing their efforts toward developing innovative solutions such as tilt-shift lenses. Tilt-shift technology involves the manipulation of lens elements to control perspective distortion and focus in photography and cinematography. For instance, in September 2023, Japan-based Fujifilm Holdings Corporation announced the release of 'Fujinon GF30mm F/5.5 T/S' and 'Fujinon GF110mm F/5.6 T/S Macro.' These lenses, designed for the Medium-Format Digital Mirrorless platform, incorporate both shift and tilt capabilities. Each lens features a tilt mechanism at the front, enabling barrel adjustment up to ±8½ degrees. This adjustment results in a focal plane that is angled relative to the sensor.

In July 2022, US-based Matterport, a developer of a 3D media platform, acquired VHT Studios for an undisclosed amount. This strategic acquisition enhances Matterport Capture Services by combining the expertise of Matterport's digital twins and floor plans with VHT Studios' professional photography, drone capture, and marketing services. The collaboration aims to provide professionals with a comprehensive range of marketing services and expertise to effectively promote and market properties. VHT Studios is recognized for its expertise in real estate digital photography and marketing services.

Major companies operating in the digital photography market report are Samsung Electronics Co Ltd., PENTAX Imaging Co, Sony Corp, Panasonic Corp, Canon Inc., Toshiba Corporation, Fujifilm Holdings Corp, Lytro Inc., Nikon Corp, Eastman Kodak Company, Shutterstock Inc, Arri Group, Leica Camera AG, Blackmagic Design Pty Ltd., Polaroid Corporation, Red Digital Cinema LLC, Matterport Inc., OM Digital Solutions Corporation, Vivitar Corporation, Giraffe360 Limited, Kinefinity Inc., Aryeo Co, Harman Technology Limited, Algolux Inc., Loupe Photography & Video Inc.

Asia-Pacific was the largest region in the digital photography market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital photography market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digital photography market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary products in digital photography include photo processing equipment, interchangeable lenses, camera cell phones, and other related items. Photo processing equipment in digital photography utilizes digital computers to process images through algorithms. These technologies find applications in various areas, including photography software, photo editing tools, camera cell phones, and more. These products are accessible through both online and offline distribution channels and cater to both personal and professional photography needs.

The digital photography market research report is one of a series of new reports that provides digital photography market statistics, including digital photography industry global market size, regional shares, competitors with a digital photography market share, detailed digital photography market segments, market trends, and opportunities, and any further data you may need to thrive in the digital photography industry. This digital photography market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The digital photography market includes revenues earned by providing art photography, editorial photography, journalism photography, documentary photography, and commercial photography. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital photography market consists of sales of digital consumer cameras and digital prosumer cameras. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.