The global digital camcorders market size is expected to register revenue of USD 3.6 Billion from 2019 to 2025, according to a new report by Million Insights. It is expected to grow with a 10.4% CAGR in the upcoming years. This growth can be attributed to the increasing trend for capturing auspicious moments of life. Also, lower prices, ease of handling, charging and recording of the camcorders are expected to boost the market growth.
The rising trend for increasing the standby capacity of the battery and increasing the image resolution among the manufacturers is expected to fuel the market growth during the forecasted period, 2019 to 2025. Also, the demand for Fine HD and UHD videos is expected to drive the market. Also, the usage of YouTube among the students and millennial for educational, interview and research purposes coupled with the increasing influence of online video lectures has created the need for usage for such camcorders.
The resolution segment of Full HD 1080p held the largest share across the global market in 2018 owing to the increasing demand for blue ray prints for video streaming websites and televisions. The UHD 2160p resolution segment is expected to register the fastest CAGR of 10.7% from 2019 to 2025. This growth can be attributed to the rising demand among the users to capture details in the recordings thereby increasing the picture quality.
The segment of offline distribution channel held the largest share across the global digital camcorders market owing to the preference among the customers to physically examine the product before deciding for purchase. However, The online distribution channel of such equipment is expected to witness the fastest growth during the forecasted period, 2019 to 2025. Doorstep delivery, hassle-free return policy and the rising influence of the internet among the younger generation is expected to drive this market growth.
The market includes key players such as Canon Inc.; JVCKENWOOD Corporation; GoPro, Inc.; SAMSUNG; Panasonic; Toshiba Corporation; Vivitar Corporation and SONY. They are constantly focusing on product innovation and development to cater to the increasing demand among the customers. Also, reducing the weight of such products and improving the video quality are the top most priorities among the manufacturers.
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Further key findings from the report suggest:
• The full HD 1080p resolution segment held the largest share in the market share of 55% in 2018.
• The online distribution channel segment is expected to witness highest CAGR of 10.8% during the forecasted period, 2019 to 2025.
• The offline distribution channel segment registered revenue of USD 1.0 billion in 2018.
Million Insights has segmented the global digital camcorder market on the basis of resolution, distribution channel and region:
Digital Camcorder Resolution Outlook (Revenue, USD Million, 2015 - 2025)
• Full HD (1920 x 1080) 1080p
• UHD (3840 x 2160) 2160p
Digital Camcorder Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Digital Camcorder Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa