Market Trends of Mirrorless Camera Industry
Interchangeable Lens are Expected to Hold Significant Share of the Market
- A camera lens is an optical assembly of lenses to make images of objects on photographic film or digital media while being capable of storing an image. Consumer-end camera manufacturers are focusing on the quality of their cameras to achieve higher product differentiation. Multiple efforts are being undertaken to improve image quality. Currently, there are three major trends in cameras that manufacturers are banking their revenue on. These trends include multiple lenses, a focus on new computational photography technologies, and the use of artificial intelligence for scene detection and shooting assistance.
- Interchangeable lenses can be mounted on a camera and changed out for different lenses. Interchangeable lenses offer the user a more comprehensive choice of image-capture abilities, unlike built-in lenses. There are two types of interchangeable lens cameras: the digital single-lens reflex camera and the mirrorless interchangeable lens camera. In addition to selecting an interchangeable lens, users have the choice of prime lenses, which are a fixed focal length available in 35 mm, 50 mm, and 200 mm, among others, or zoom lenses (a tele zoom 70-200 mm and a wide-angle zoom with 18-35 mm, a mid-range zoom, 28-70 mm).
- Moreover, in September 2022, FUJIFILM North America Corporation announced the release of the new FUJINON XF 56 mm F1.2 R WR (XF 56 mm F1.2 R WR) weather-resistant, mid-telephoto prime lens, the latest in a line of interchangeable lenses designed for the FUJIFILM X Series of mirrorless digital cameras. The FUJINON XF 56 mm F1.2 R WR is the successor to the popular FUJINON XF 56 mm F1.2 R lens and now boasts considerable improvements from that earlier model in minimum focusing distance, image-resolving capability, and gorgeous rendering of out-of-focus background.
- Further, in September 2022, Sony Electronics Inc. announced the latest expansion to its Cinema Line, the ILME-FR7, an E-mount interchangeable lens camera with built-in pan/tilt/zoom (PTZ) functionality and a full-frame image sensor. Its versatile remote control and cinematic features extend creative opportunities in the studio, live production, and filmmaking settings.
- According to the Camera & Imaging Products Association forecast for the year 2023 for digital cameras and lenses shipments, interchangeable lens cameras will be the primary segment, with around 5.72 million units in shipments forecast for 2022. An interchangeable camera allows the photographer to choose the lens according to his or her needs. For instance, a wide-angle lens may be used to cover the maximum angle of view, while a telephoto lens would be able to get a close view of the mountain peak and capture its details invisible to the naked eye.
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North America is Expected to Hold Significant Share of the Market
- North America has a developed consumer electronics sector, with electronics products present in most households. The North American digital camera market is expected to expand in the coming years. Many filmmakers in the region are reaching out to audiences through short films, ads, and marketing videos. Many are looking for acceptable alternatives to standard camera systems for producing higher-quality material. Digital cameras use a photosensitive microchip known as a charge-coupled device (CCD) to capture and process pictures, which allows images to be stored on the camera's memory drive.
- The increasing photography sector in the United States will likely fuel the North American Mirrorless camera market. According to the United States Bureau of Labor Statistics, the employment of photographers is expected to expand by 9% between 2021 and 2031, which is more than the average for all professions. On average, 12,700 job vacancies for photographers are expected annually during the next decade.
- Due to the amount of content available on video platforms, the algorithms organize it in terms of quality; thus, gear improvements, when available, will assist vloggers in posting higher-quality content, attracting more viewers. Mirrorless cameras are considered the ideal travel camera as they offer high image quality and features while being more portable and lighter than DSLR cameras. Professional vloggers will employ this to shoot high-quality photos and films. Mirrorless provides an advantage over DLSR in terms of compactness. The increasing use of mirror-less cameras is expected to increase the demand for mirror-less lenses during the forecast period.
- Companies in North America are expanding their consumer offers by introducing new items. For instance, FUJIFILM North America Corporation announced the release of the FUJIFILM X-T5 digital camera (X-T5) in November 2022, the newest addition to Fujifilm's groundbreaking range of X Series, X-T mirrorless digital cameras. Fujifilm incorporated its fifth-generation imaging sensors and processing technologies into the X-T5 camera body, which is smaller than each of the preceding three X-T system cameras.
- Additionally, in September 2022, FUJIFILM North America Corporation launched the FUJINON GF20-35 mm F4 R WR lens, which is a lightweight and compact ultra wide-angle (UWA) optical zoom for GFX System cameras. The GF20-35 mm F4 R WR's focal length ranges from 20 mm UWA to 35 mm wide-angle. Due to the GFX System's large-format sensor, the lenses can freeze information-dense scenes like a broad landscape or cityscape with intricate points in high resolution with UWA coverage.
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