LONDON–(BUSINESS WIRE)–Technavio’s latest report on the photography equipment market in the US provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Photography equipment market in the US to grow to USD 16.83 billion by 2021, at a CAGR of nearly 4%.
The research study by Technavio on the photography equipment market in the US for 2017-2021 provides a detailed industry analysis based on the retail format (specialty stores, department stores, and online retail), product type (camera), and geography (Utah, Oregon, Washington, Tennessee, Hawaii, and the rest of the US).
|Photography equipment includes cameras and associated equipment used for capturing images. The captured images can be still images or in the form of videos. Technavio analysts forecast the photography equipment market in the US to grow to USD 16.83 billion by 2021, at a CAGR of nearly 4% over the forecast period.|
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The top three emerging trends driving the photography equipment market in the US according to Technavio consumer and retail research analysts are:
- Personalized digital cameras
- Ultra-zoom lenses
- E-retailing and social media marketing
Personalized digital cameras
“The increasing number of youngsters taking up photography as a hobby has resulted in an increased demand for personalized digital cameras, which allow users to experiment and capture photographs in innovative ways,” says Brijesh Kumar Choubey, a lead analyst at Technavio for retail goods and services research.
The increase in demand for personalized cameras is encouraging manufacturers and marketers of photography equipment to introduce new products which are rugged and possess advanced waterproof features in different colors to meet end-user requirements. Marketers are also targeting female customers by introducing many forms and shapes of cameras that would appeal to them.
One of the popular trends in the photography equipment market is the ultra-zoom lens, which has a range between 18 mm and 300 mm. The long range of these lenses reduces the number of equipment needed by photographers to successfully create the frames they want to capture. These all-in-one zoom lenses enable photographers to capture several up-close and detailed images, without the need for additional equipment. Even though all-in-one zoom lenses are a fairly new technological advancement, many professional and amateur photographers are using them in their shoots all over the world.
E-retailing and social media marketing
“Photography equipment marketers are increasingly offering their products online, with key vendors like Nikon, Canon, andKodak running in-house online portals and having tie-ups with e-retailers to sell photography equipment,” says Brijesh.
Online portals offer products at competitive prices not only through third-party portals but also through their own online shopping portals, giving a customer the option to choose a photography equipment which matches their requirements and is compatible with the digital camera they own.
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