Camera Accessories Market Size, Share and Trends 2024 to 2034

Camera Accessories Market Size and Forecast 2024 to 2034

The global camera accessories market size is valued at USD 4.16 billion in 2024 and is predicted to reach around USD 17.21 billion by 2034, expanding at a CAGR of 15.26% from 2024 to 2034. The rising adaptation of photography and videography on different occasions and the increasing number of video content creators on social media platforms are accelerating the growth of the market. 

Camera Accessories Market Key Takeaways

• North America dominated the global market with the largest market share of 41% in 2023.
• Asia Pacific expects considerable growth in the market during the forecast period.
• By type, the lens segment contributed the highest market share in 2023.
• By type, the batteries segment is expected to expand at the fastest CAGR in the forecast period.
• By distribution channel, the offline segment captured the biggest market share in 202.
• By distribution channel, the online segment is anticipated to grow at the fastest CAGR in 2024 to 2034. 

How Can AI Impact the Camera Accessories Market?

The artificial intelligence in the camera helps enhance the quality of photos, videos, and video intelligence. The AI camera increases the capabilities and quality of professional and smartphone photography. AI in cameras uses machine learning algorithms to optimize and automate camera settings, resulting in high-quality photographs in any type of low- and high-light dynamics scenario. Artificial intelligence software plays an important role in enhancing the quality of images by featuring better autofocus and low-light performance with IR night vision.

• In October 2024, Raspberry Pi and Sony come into a collaboration for the designing and launching of the AI camera module for all Pi computers with the pricing of $70, bringing onboard processing and efficiency for the SBCs to work with visual data.

U.S. Camera Accessories Market Size and Growth 2024 to 2034

The U.S. camera accessories market size is exhibited at USD 1.19 billion in 2024 and is projected to be worth around USD 5.04 billion by 2034, growing at a CAGR of 15.43% from 2024 to 2034.

North America dominated the camera accessories market in 2023. The growth of the market is attributed to the rising demand for cameras by the population due to the rising attraction towards photography and shooting on a personal level is driving the sales of cameras, which anticipated the higher demand for camera accessories such as lenses, batteries, bags, tripod, and others. Furthermore, technological advancements in cameras, such as the rise of digital cameras with improved quality and focus length, are also contributing to the growth of the camera accessories market in the region. 

• Photographer employment is expected to increase by 4% from 2023 to 2033, an average faster than all other occupations. There are 13,700 openings for the photographer forecasted every year. 
• The overall employment of film and video editors and camera operators is expected to increase by 3 % from 2023 to 2033, which is an average faster than all other occupations. There are 7,100 openings for film and video editors and camera operators, which are forecasted every year.

Asia Pacific expects considerable growth in the market during the forecast period. The growth of the market is attributed to the rising number of younger generations, which are inclining towards photography, driving the demand for the market. The increasing entertainment industry in India and the rising availability of the varieties of camera accessories in online and offline sales platforms are accelerating the expansion of the camera accessories market across the region. 

• The media and entertainment industry in India is projected to reach $100 billion by 2030. 
• The filmed entertainment industry segment in the media and entertainment industry has increased by 14%, with a reach of INR 197 billion in 2023. Approximately 1790+ films were released in 2023, generating an all-time high theatrical revenue of INR 120 billion. 

Market Overview

Camera accessories are the equipment or devices that are used to take photos and videos more accurately and help protect the equipment. The camera accessories further include the remote shutter release, tripod, polarized filter, external flash, lens cleaning kit, lens hood, UV filter, teleconverters, battery grips, camera straps and bags, spare batteries, power banks, specialty cleaning wipes, and kits. The increasing inclination towards photography and videography in the younger population as a career is contributing to the expansion of the camera accessories market.

Camera Accessories Market Growth Factors

• Rise in younger population: The increasing younger population in the countries is inclining towards technologically advanced and digital electronic gadgets, and rising preference towards photography and shooting are collectively driving the growth of the camera accessories market.
• Increasing technological advancements: The rising technological advancements in electronic gadgets and the digitization of the camera for improving the quality and enhancing lifespan are driving the sales of the digital camera, which is anticipated in the higher demand for camera accessories.
• The availability of products: The higher availability of different types of camera accessories such as camera lenses, bags, tripods, straps, lens caps, and others with different sizes, colors, brands, and qualities in the online and offline sales platform is accelerating the expansion of the market.

Market Scope

Market Dynamics

Driver

The rise in the entertainment industry

The increasing media and entertainment industry around the world is contributing significantly to the demand for cameras and camera accessories. Digitization across industries and the economic growth in the population are driving electronic and digitally advanced gadgets, increasing the sales of digital cameras and demand for the camera accessories market.

Restraint

High cost

The increasing cost of the camera and camera accessories due to the higher manufacturing cost and digitization association is limiting the use and restraints the growth of the camera accessories market.

Opportunity

Increasing market competition

The increasing market competition in the development and launch of camera and camera accessories and the continuous participation of new market players are driving the expansion of the market. The continuous investment in research and development for the evaluation of the camera and the launch of different camera accessories by the leading brand is accelerating the growth of the market.

Type Insights

The lens segment dominated the camera accessories market in 2023. The lenses are one of the most important parts of the camera. Lenses work the same as the human eye and allow the camera to enter the required light. There are different types of lenses found in the market with different focal lengths and properties. There are different types of lenses and cameras used in the different types of cameras for shooting or photography purposes. Zoom lenses, prime lenses, telephoto lenses, wide-angle lenses, and macro lenses are some types of lenses that have been majorly used in cameras. 

The batteries segment expects significant growth in the camera accessories market during the forecast period. Camera batteries are one of the most significant parts of cameras. The increasing adoption of advanced cameras by people for enhanced quality photography and shooting is increasing the sales of camera batteries. Additionally, the continuous evaluation of the batteries for improving the quality, faster recharge, and improve the battery quality and lifespan. The increasing demand for digital cameras is driving the growth of rechargeable batteries such as lithium-ion batteries, nickel-metal-hydride batteries, and disposable AA and AAA batteries, which are some of the types of rechargeable batteries for digital cameras.

Distribution Channel Insights

The offline segment accounted for the largest growth in the camera accessories market in 2023. The increasing demand for camera accessories from offline stores such as specialty stores, supermarkets, malls, and other offline stores is due to the higher assurance of quality and in-person quality checks. The offline sales distributors provide greater discounts with attractive offers included. The availability of different products with an affordable price range drives the expansion of the offline distribution channel segment. 

The online segment is estimated to grow at a significant rate in the camera accessories market during the predicted period. The increasing adoption of online sales platforms for buying electronics and sales gadgets and the rising e-commerce market globally are driving the growth of the online distribution channel. The rising preference towards online shopping in the younger generation and the great discounts, EMI offers, and offers included in the online sales of electronics and gadgets are increasing the sales of camera accessories from the online distribution channel.

Camera Accessories Market Companies

• Canon Inc.
• Panasonic Corporation
• Sony Corporation
• Nikon Corporation
• Peak Design
• Samsung
• Olympus Corporation
• GoPro
• Fujifilm
• RED

Latest Announcements by Industry Leaders

• In October 2024, Canon announced the RF50mm F1.4 L VCM, RF70-200mm F2.8 L IS USM Z, and RF24mm F1.4 L VCM, these three RF lenses will be the integral part of the video creator and hybrid shooter’s toolkit. The three lenses integrate classic focal length maximum aperture and their EF mount predecessors, which are popular among professionals. 
• In July 2024, Panasonic Marketing Middle East & Africa (PMMAF) announced the regional launch of the latest 4K PTZ Camera. Expanding line-up of 4K integrated cameras AW-UE30 with 74.1° wide-angle lens and 20x Optical Zoom.
• In October 2024, Sony launched the two latest camera power supply solutions for the Alpha series, in addition to its Cinema Line cameras using NP-FZ100 batteries to cater to the increasing demand for the creators.

Recent Developments

• In November 2024, IDS Imaging Development Systems GmbH is adding a new range of cameras in line with the launching of uEye XCP, which is soon to go into production. The uEye XCP is a USB3 camera that comes with monochrome and color versions and an IMX636 event-based CMOS global shutter sensor developed by Prophesee and Sony. 
• In September 2024, GoPro announced the launch of two cameras, the HERO and the HERO13 Black, with different capabilities and features. 
• In June 2024, Nikon launched the latest Z6III full-frame mirrorless camera for redefining photography and videography by featuring the world’s first-ever partially-stacked CMOS sensor.
• In October 2024, SmallRigs launched the latest range of accessories for the Fujifilm X-M5 camera. The accessories kit includes hand straps, cages, and thump grips, which make shooting more comfortable with a compact camera. 

Segments Covered in the Report

By Type

• Lens
• Bags and Cases
• Batteries
• Tripod
• Flashes
• Others 

By Distribution Channel

• Online 
• Offline

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa