Latin America digital camera market size is expected to gain significant share over the forecast period, with gains of over 18% from 2016 to 2023. This can be primarily attributed to rising popularity of social networking sites. In addition, increasing trend of sharing images over numerous platforms is likely to drive the demand growth over the coming few years. The regional industry is dominated by Chile, Argentina and Brazil digital camera market.
Digital camera also known as digicam is mainly employed to encode videos and images in a digital format. It is basically an optical device that stores images as digital records. These are more advanced than analog camera that stores an image on film. Latin America digital camera market is likely to observe an increase in demand growth for personalized digital cameras.
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Built-in lens market accounted for over 78% of the total shipments in 2014. DSLRs among other high end exclusive cameras are gaining popularity in several countries such as Brazil, Argentina, Chile and Peru. Global DSLRs accounted for around 18% of the unit shipments in 2014. Interchangeable lens camera is anticipated to gain industry share owing to increasing customers spending on DSLRs and mirror-less cameras over the forecast period. Global interchangeable lens digital camera market was valued at over USD 7 billion in 2015. Performance efficiency and compact size of these lenses is likely to drive demand.
(Digital single-lens reflex camera) DSLR market product segment is likely to witness significant gains over the forecast period. This can be primarily attributed to enhanced features and benefits provided to the consumers. These cameras are gaining popularity among end users. This can be attributed to high quality images produced by DSLR. Services and applications such as Adobe Photoshop have also supported in escalating the industry demand.
Increasing end users investment in digital cameras is expected to offer a prime opportunity to the nations such as Brazil that have lower product penetration. LATAM digital camera market share is likely to benefit from rising replacement and innovation in technology. In addition, mounting disposable income along with increasing trend of consumers to upgrade to exclusive products is likely to positively contribute to the industry growth over the coming few years.
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The major players holding majority of the Latin America digital camera market share include Nikon, Panasonic, Canon, Samsung and Sony among others. Other prominent players in the industry include Fujifilm, Casio Computer, HP, Leica Camera, Olympus, Sakar International, Ricoh Imaging, Sigma and Toshiba among others. Brand reinforcements are the chief competitive strategies that are being employed through accumulation of marketing as well as promotional activities.
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