Allied Market Research published a report, titled, Camera Accessories Market by Type (Lenses, Bags and Cases, Tripods, Batteries and Chargers, and Others), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2024-2033 . According to the report, the camera accessories market was valued at $3.8 billion in 2023, and is estimated to reach $10.7 billion by 2033, growing at a CAGR of 11% from 2024 to 2033.
Prime determinants of growth
The market for camera accessories is mostly propelled by the rising demand for excellent photography and videography. The demand for sophisticated equipment including tripods, lenses, and lighting solutions has increased due to the growth of social media and content creation. The industry is growing due to technological developments such as smart features and wireless connectivity. Furthermore, there is a greater need for appropriate accessories due to the increasing popularity of mirrorless and DSLR cameras. However, the market experiences obstacles including high costs and the presence of counterfeit products. The increase in photographs taken with smartphones presents another risk. However, possibilities present themselves as the e-commerce industry grows, providing camera accessories to a wider range of consumers.
Report coverage details:
Report Coverage
