According to Technavio, the global digital broadcast and cinematography cameras market size is estimated to grow by USD 551.68 million from 2022 to 2027. The market is estimated to grow at a CAGR of 4.08% during the forecast period. Moreover, the growth momentum will progress. North America will account for 36% of the growth of the global market during the forecast period.
The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Technavio has segmented the market based on product (ENG cameras, cinema cameras, and EFP cameras) and distribution channel (offline and online).
The ENG cameras segment will grow at the highest rate during the forecast period. ENG cameras are used to broadcast news events outside the studio and are easy to carry. The growth of this segment is attributed to factors such as the proliferation of tapeless high-definition (HD) video cameras. The high adoption of ENG cameras among broadcasters will also fuel the growth of the segment during the forecast period.
Based on geography, the global digital broadcast and cinematography cameras market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global digital broadcast and cinematography cameras market.
North America is estimated to account for 36% of the growth of the global market during the forecast period. The growth of the market in the region will be driven by the increasing demand for high-quality movies and TV shows. The rising use of online video platforms is also expected to increase the demand for digital broadcasting and cinema cameras in North America.
Key factor driving market growth
- The increase in the number of subscribers to HD channels will drive the growth of the market.
- The growing demand for HD set-top boxes (STBs) has increased the number of HD channels.
- The growing popularity of HD content has increased the use of HD televisions. Hence, many pay-TV operators are launching more HD channels, which will increase the sales of HD TVs.
- Therefore, the growing demand for HD channels and high-quality content has increased the use of advanced digital broadcast and film cameras with high content resolution.
- This, in turn, will drive the growth of the global digital distribution and film camera market during the forecast period.
Leading trends influencing the market
- An increase in demand for UHD content is a key trend in the market.
- The introduction of UHD smart TVs has increased the demand for UHD content.
- To cater to this demand, major players in the market have introduced new products.
- Broadcasters, cinemas, and cable and TV operators are reallocating resources to meet the demand for UHD content.
- Hence, the demand for UHD content will support the market’s growth during the forecast period.
Major challenges hindering market growth
- Low movie screen density in emerging economies is challenging the market.
- Screening density refers to the number of movie screens available per million inhabitants.
- The number of screens is low in developing and underdeveloped countries due to the lack of films in tier-2, tier-3, and tier-4 markets.
- The lack of infrastructure, communication barriers, and low disposable income are also hindering the growth of the film market in these countries.
- These factors may reduce the adoption of digital broadcast and film cameras, which, in turn, may hinder the growth of the global digital broadcast and film camera market during the forecast period.