Global Professional Video Camera Market is Projected to Accrue USD 43.07 Billion by 2030, Exhibiting a Strong CAGR as Demand for Quality Video Content Increases, Forecasts Kings Research
DUBAI, UAE, Sept. 12, 2023 /PRNewswire/ -- According to the latest report published by Kings Research, the global Professional Video Camera Market size was recorded at USD 35.38 billion in 2022 and is estimated to grow to USD 43.07 billion by 2030, exhibiting a 2.55% CAGR through the forecast period of 2023-2030. The market is expanding significantly as a result of the rising demand for high-quality video content in a variety of industries, including social media, television, and film. New technological developments, including 4K and 8K resolution cameras, are fostering the market's continued growth.
A professional video camera is a high-end camera that supports numerous high-quality video production projects. The camera captures audio and dynamic visuals intended for utilization by professionals in electronic media. It is a crucial piece of equipment for television studios, content producers, and filmmakers. Additionally, it is frequently used to film fashion shoots, concerts, journalism, and documentaries. This type of video camera offers professional filmmakers and content producers the ability to swiftly adjust and fine-tune a range of settings, facilitating the creation of diverse footage essential for their creative projects.
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Trending Now: Canon Hits Milestones with Production of 110 Million EOS Cameras, 160 Million RF/EF Lenses
In June 2023, Canon Inc. announced significant production achievements, surpassing 110 million EOS Series cameras and 160 million RF/EF interchangeable lenses. The EOS R6 Mark II (launched in December 2022) has become the 110 millionth EOS series camera, while the RF100mm F2.8 L MACRO IS USM (launched in July 2021) stands as the 160 millionth interchangeable lens.
In December 2021, Canon introduced the EOS VR System, tailored for virtual reality content recording. This launch exemplified Canon's unwavering pursuit of innovative possibilities in visual expression.
Companies operating in the global professional video camera market are focusing on product innovation in order to expand their customer base. For instance, in April 2023, Blackmagic Design, a leading company in the professional video camera sector, introduced the Blackmagic Videohub 12G and 12G-SDI models. These innovative zero latency video routers facilitate smooth linking and direction of various standard-definition, high-definition, and ultra-high-definition signals via a single router. This grants effortless access to an array of video sources.
Key Participants in the Professional Video Camera Industry Include:
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The global Professional Video Camera Market is segmented as:
Widespread Applications to Bolster the Popularity of Professional Video Cameras
Based on application, the professional segment dominated the global professional video camera market in 2022 and is expected to continue its dominance through the projection period, accounting for a revenue of USD 26.32 billion by 2030. The professional video camera is designed to capture the best possible electronic moving images. Traditionally, these cameras were used in television broadcasting facilities or with mobile broadcast units.
However, these cameras are increasingly being used in several industries, such as for recording business and educational videos, wedding videos, direct-to-video movies, and music videos. These cameras are remarkably advanced and fitted with cutting-edge technologies to create content of the greatest quality. Overall, the professional video camera's wide range of user applications is the key factor propelling segment expansion.
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Shifting User Preferences to Drive Adoption of 4K Resolution Professional Video Cameras
Based on resolution, the 4K resolution camera segment is anticipated to accont for the largest share of the global professional video camera market in the upcoming years, accruing a valuation of USD 21.91 billion by 2030. Among the technologies available to market participants and end users, 4K resolution is seen as the most effective for recording and broadcasting. Market penetration of this technology has occurred worldwide in developing nations, which is boosting the sales of professional video cameras with 4k resolution.
Professional Video Camera Demand Soars with Increasing Live Streaming and Virtual Events
The rising demand for professional video cameras is impelled by the increasing prominence of live streaming, virtual events, and webinars, signifying a robust growth in the domain of visual communication. This, along with technological advancements and the broadening range of applications, is foreseen to support professional video camera market expansion in the forthcoming years.
Moreover, the demand for short films is experiencing a notable upswing, primarily attributed to the emergence of online platforms that have introduced an expanding audience to diverse forms of content. These platforms have ushered in a new era of viewership, marked by evolving preferences and an increased appetite for varied and innovative content offerings.
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Rising Number of Events Positions in North America as Market Leader
North America is the largest region in the professional video camera market and is projected to retain its position over the review timeline, reaching a valuation of USD 16.28 billion by 2030. The regional market progress is driven by the rising number and variety of events, including sporting events, events for the television industry, and other business gatherings. The strong presence of established multinational companies in the region is also poised to augment market revenue.
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Key Points from TOC:
Chapter 1 Introduction of the Global Professional Video Camera Market
Chapter 2 Executive Summary
Chapter 3 Research Methodology
Chapter 4 Global Professional Video Camera Market Outlook
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Professional Video Camera Market, By Resolution
Chapter 15 Global Professional Video Camera Market Competitive Landscape
Chapter 16 Company Profiles
16.2 Canon Inc.
16.3 Sony Corporation
16.4 Blackmagic Design Pty. Ltd
16.5 Kokusai Electric America, Ltd.
Browse Complete TOC: https://www.kingsresearch.com/toc/professional-video-camera-market-77
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